- Petrochemicals, derived from petroleum and natural gas, are essential building blocks for a wide range of products, including plastics, chemicals, and synthetic materials used across industries
- The rising demand for petrochemicals is primarily driven by the growing consumption of polymers in packaging, automotive, and construction applications, as well as the increasing use of specialty chemicals in healthcare and electronics
- North America dominated the petrochemicals market with the largest revenue share of 38.5% in 2024, driven by advanced manufacturing infrastructure, significant investments in shale gas, and a strong presence of key industry players
- Asia-Pacific is expected to be the fastest-growing region during the forecast period, fueled by rapid urbanization, increasing industrial activities, and rising disposable incomes in countries such as China and India
- The ethylene segment dominated the largest market revenue share of 28% in 2024, driven by its extensive use in the production of polyethylene, which is widely utilized across packaging, textiles, and automotive industries
