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Petrochemical Market Trends

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Report ID: 4125
Published Date: Aug 12, 2024
Report Format: PDF, PPT

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Petrochemical Market Trends

Growth Drivers

Soaring Plastic Demand across the Globe
High Consumption of Petrochemicals in Manufacturing Industry
Increasing Demand for Fertilisers and Paints

Challenges

Growing Environmental Concerns

Petrochemical Market: Key Insights

Base Year	2023
Forecast Year	2024–2036
CAGR	7.4%
Base Year Market Size (2023)	USD 620.37 billion
Forecast Year Market Size (2036)	USD 1.56 trillion
Regional Scope	North America (U.S., and Canada) Latin America (Mexico, Argentina, Rest of Latin America) Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific) Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe) Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

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Browse Key Market Insights with Data Illustration:

Petrochemical Market Size & Share, Global Forecast Report 2036

Author Credits: Rajrani Baghel

Report ID: 4125
Published Date: Aug 12, 2024
Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

In the year 2024, the industry size of petrochemical is assessed at USD 657.1 billion.

Petrochemical Market size was over USD 620.37 billion in 2023 and is anticipated to reach USD 1.56 trillion by 2036, growing at around 7.4% CAGR during the forecast period i.e., between 2024-2036. The growing demand for plastic, fertilisers and paints will boost the market growth.

Asia Pacific industry is anticipated to hold largest revenue share by 2036, propelled by rapid economic development in the region.

The major players in the market are LyondellBasell Industries Holdings B.V, Mitsubishi Chemical Holdings Corporation., Formosa Petrochemical Corporation and Idemitsu Kosan Co., Ltd.

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