The global petrochemicals market size was valued at USD 623.83 billion in 2023 and is expected to grow from USD 649.16 billion in 2024 to USD 900.91 billion by 2032 at a CAGR of 4.2% during the forecast period. Asia Pacific dominated the petrochemicals market with a market share of 52.16% in 2023.

Natural gas, crude oil, and coal are used to derive petrochemicals. The expansion of the market can be credited to the growth of industries such as electronics, packaging, automotive, and construction, which is poised to increase the demand for petrochemical products.  Petrochemicals are chemical substances derived from crude oil, coal, and natural gas. Over the years, their definition has expanded to include a range of aliphatic, aromatic, and naphthenic organic chemicals. Products derived from petrochemicals, such as chemicals, plastics, and synthetic materials, have bolstered market growth. These products are used in various end-use industries, such as packaging, electronics, construction, and automotive industries. As these industries grow and evolve, the demand for petrochemical products is anticipated to increase.

Fortune Business Insights™ provides this information in its research report, titled “Petrochemicals Market, 2024-2032”.

Get a Sample PDF Report: https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/petrochemicals-market-102363

List of Key Players Mentioned in the Report:

• BASF SE (Germany)
• LyondellBasell Industries Holdings B.V. (Netherlands)
• INEOS (K.)
• Shell plc (K.)
• SABIC (Saudi Arabia)
• Reliance Industries Limited (India)
• Mitsubishi Chemical Corporation. (Japan)
• Dow Chemical Company (U.S.)
• LG Chem (South Korea)
• Chevron Phillips Chemical Company LLC. (U.S.)
• China National Petroleum Corporation (China)
• Maruzen Petrochemical Co., Ltd. (Tokyo)

Segmentation:

Surging Deployment of Ethylene for Vinyl Chloride Production Fueled the Segment Growth