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  Market Overview According to Market Research Future (MRFR), the global petrochemical market is anticipated to acquire the market value of USD 943.5 billion, expanding at a CAGR of 8.06%. The rising demand for petrochemicals from various end-use industries like aerospace, agriculture, food & beverage, electrical and electronics are likely to be a significant factor driving the petrochemical market 2020. Furthermore, the drop in crude oil prices from the past few decades is projected to be another significant factor that can increase the demand for petrochemicals and grow the market during the review period. Development of the transport and electrical sectors due to the increasing trade activities across the globe is anticipated to be a potential factor enhancing the demand for  Petrochemical Market   and strengthen the market during the review period. However, the growing concerns pertaining to the application of petrochemical products and its impact on the environme...

  The global  Petrochemicals Market Size  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. The growing de...