The Petrochemical Industry

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Since the main discussion in this paper is related to petrochemical industry ,the definition of this term is needed a great profundity. The Petrochemicals are chemical products made from the hydrocarbons present in raw natural gas and gas condensates, and petroleum crude oil ( Beychok.2012) .the important petrochemicals include Ethylene ,benzene ,ammonia and acetylene .The petrochemical industry uses to produce a wide variety of materials such as plastics, fertilizers and Synthetic fibres . The petrochemical industry has begun in the second half of the 20th century. Europe and the US have the first countries developed the petrochemical industry . the American company was producing 50% of its ethylene and propylene already in the 1940s (Kalkman…show more content…
A new profitable period, which will start with a fundamental recovery in 2004 as of 2007, there were 2980 operating petrochemical plants in 4320 locations in the worldwide (Beychok 2012) .In current years, structural changes are being accomplished in the petrochemical industry. The companies try to increase their competitive positions and profit changing their fields of activities either individually or by merging with other companies. Petrochemical industry is exposed to global competition and raw material, market and technological advantages play noteworthy roles in this competition. For the new investments, certain states having feedstock benefits and large/rapidly growing markets are being preferred by the petrochemical companies. In the next years, most of the new investments will be realized in the Middle East and…show more content…
During the next decade between the late 1980s and the early 1990s ,the third petrochemical complex in Deason alongside with the massive new and expansion projects. Further new and expansion project were implemented continuously and currently 8.500 thousand tons of ethylene are produced annually ,which is 17 times the production capacity of the late 1980s (KPIA 2015).. On the other hand, foreign petrochemical producers consist of UK-based British Petroleum (BP) and Germany’s

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