NAICS 32511 - Petrochemical Manufacturing
This industry comprises establishments primarily engaged in (1) manufacturing acyclic (i.e., aliphatic) hydrocarbons such as ethylene, propylene, and butylene made from refined petroleum or liquid hydrocarbon and/or (2) manufacturing cyclic aromatic hydrocarbons such as benzene, toluene, styrene, xylene, ethyl benzene, and cumene made from refined petroleum or liquid hydrocarbons.
Industry trends:
The petrochemical manufacturing industry (NAICS 32511) is witnessing dynamic changes driven by several qualitative trends. Key among these is the increasing focus on sustainability and environmental responsibility. Companies are investing in green technologies and adopting processes that reduce carbon footprints, aiming to meet both regulatory requirements and consumer demand for eco-friendly products. Another prominent trend is digital transformation, where the implementation of advanced analytics, AI, and IoT devices is enhancing operational efficiency and predictive maintenance.
Additionally, the globalization of supply chains is influencing the industry, causing shifts towards more resilient and diversified sourcing strategies. This is in response to disruptions experienced during events like the COVID-19 pandemic. There is also growing interest in bio-based chemicals as alternatives to traditional petrochemicals, aligning with the broader trend towards renewable resources.
Forecasts for the near future indicate that these trends will continue to shape the industry. Companies that successfully integrate sustainable practices and advanced technologies are expected to gain competitive advantages. The demand for petrochemicals is projected to grow, particularly in emerging markets, driving a need for innovation in production processes. Overall, the industry is poised for a transformation that balances economic growth with environmental stewardship.
This industry is comprised of:
Acyclic hydrocarbons (e.g., butene, ethylene, propene) (except acetylene) made from refined petroleum or liquid hydrocarbons
Aliphatic (e.g., hydrocarbons) (except acetylene) made from refined petroleum or liquid hydrocarbons
Benzene made from refined petroleum or liquid hydrocarbons
Butadiene made from refined petroleum or liquid hydrocarbons
Butane made from refined petroleum or liquid hydrocarbons
Butylene made from refined petroleum or liquid hydrocarbons
Cumene made from refined petroleum or liquid hydrocarbons
Cyclic aromatic hydrocarbons made from refined petroleum or liquid hydrocarbons
Dodecene made from refined petroleum or liquid hydrocarbons
Ethane made from refined petroleum or liquid hydrocarbons
Ethylbenzene made from refined petroleum or liquid hydrocarbons
Ethylene made from refined petroleum or liquid hydrocarbons
Heptanes made from refined petroleum or liquid hydrocarbons
Heptenes made from refined petroleum or liquid hydrocarbons
Isobutane made from refined petroleum or liquid hydrocarbons
Isobutene made from refined petroleum or liquid hydrocarbons
Isoprene made from refined petroleum or liquid hydrocarbons
Nonene made from refined petroleum or liquid hydrocarbons
Olefins made from refined petroleum or liquid hydrocarbons
Paraffins made from refined petroleum or liquid hydrocarbons
Pentanes made from refined petroleum or liquid hydrocarbons
Pentenes made from refined petroleum or liquid hydrocarbons
Propylene made from refined petroleum or liquid hydrocarbons
Styrene made from refined petroleum or liquid hydrocarbons
Toluene made from refined petroleum or liquid hydrocarbons
Xylene made from refined petroleum or liquid hydrocarbons
This report includes the ability to segment your Industry by:
- Region
- Employees
- Net Sales
- Company Age
- Total Assets
- Ownership Type
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