Chemical, Oil and Gas Industry

Chemicals and petrochemicals are ubiquitous in the modern lifestyle. Therefore, chemical as well as oil and gas companies are required to plan for present challenges, from global inflation to oil price volatility, integrating innovation with sustainability. So supply chains have to balance costs and carbon emissions, while managing resilience.

Furthermore, manufacturers have access to more and more digital technologies to enhance material innovation and accelerate lower-cost formulations by optimizing and assimilating recipe ingredients and industry knowledge.

The global petrochemical industry is driven by an increasing demand in a variety of end-use sectors, particularly construction and automotive.

In the automotive industry, there has been an increased use of petrochemicals, like high-density polyethylene (HDPE) to make fuel tanks and body parts, like dashboards, speedometer dials and steering wheels.

In the construction, packaging and transportation industries, the ethylene segment represents a substantial market share of the petrochemical industry. This increase is associated with the many potential applications of ethylene as a raw material.

In addition to this, the increased demand for plastic production around the world is leading the request for petrochemical products.

The oil and gas market is expected to grow by 6.6% over 2023-2028, and Asia-Pacific has a substantial share of the petrochemical industry in this forecast period.

For the chemical industry and oil and gas companies, TEC-SIM manufactures stainless steel reactors, condensers, mixers, storage tanks, heat exchangers, among the others. This equipment can be compliant to PED, ASME and SELO Standards.