Petrochemical Market Share

Regionally, the global petrochemical market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and the Middle East & Africa region. Asia Pacific industry is anticipated to hold largest revenue share by 2036, propelled by rapid economic development in the region. Various companies in the region are investing in the petrochemical industry. Furthermore, governments of the countries are also pursuing policies of petrochemical self-sufficiency, which is the reason the global market is projected to grow during the forecast period in the region.

The global market in the North America region is expected to grow over the forecast period owing to the rising demand for plastic, fertilisers, synthetic rubber and detergents. The data released by American Fuel & Petrochemical Manufacturers state that petrochemical manufacturers have invested USD 185 billion to meet the growing demand for petrochemicals, which is the reason the global petrochemical market is projected to grow over the forecast period.