Petrochemicals Market scrutinized in new research by top key players, Insights, Growth Forecast By 2030
Petrochemicals Market The global petrochemicals market is expected to exhibit a strong 8% CAGR over the forecast period, according to the latest research report from Market Research Future (MRFR). The global petrochemicals market was valued at USD 621.1 billion in 2018. Petrochemicals are widely used in a long line of end use industries and are thus highly in demand. The increasing use of polymers in the packaging and automotive industries is likely to be a major driver for the global petrochemicals market over the forecast period. Ethylene is widely used to produce polyethylene, which comes in soft, hard, and pliable forms. These forms of polyethylene are used to produce correspondingly soft or hard packaging, which are gaining increasing demand in recent years. The excellent moisture protection provided by polyethylene has been the major driver for the global petrochemicals market in recent years, as this has driven the demand for polyethylene in the packaging sector. Th...