Petrochemicals Market size is expected to reach USD 1,002.45 billion by 2030
Petrochemicals Industry Overview The global petrochemicals market size was valued at USD 556.09 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 6.2% from 2022 to 2030. The demand for petrochemicals is attributed to an increase in the demand for downstream products from various end-use industries such as construction, pharmaceuticals, and automotive, which is a major factor driving the market. Petrochemical is a vital component for many industrial processes, and hence forms the backbone of an industrial economy. Some of the products derived from petrochemicals include tires, industrial oil, detergents, and plastics. Basic plastic derived from the product act as a building block in the manufacturing of consumer goods. Gather more insights about the market drivers, restrains and growth of the Global Petrochemicals Market End-use industries evaluate the quality of products supplied from time to time and establish p...