• The global petrochemicals market was valued at USD 577.23 billion in 2024 and is projected to reach USD 726.34 billion by 2032, growing at a Compound Annual Growth Rate (CAGR) of 3.4% during the forecast period (2025-2032). This growth is driven by increasing demand in key application sectors such as construction, packaging, and automotive industries.
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• Petrochemicals, also known as petroleum distillates, are chemical products derived from petroleum. These compounds are also obtained from other fossil fuels, such as coal or natural gas, and renewable sources like corn, palm fruit, or sugarcane. Petrochemicals are essential in the manufacturing of a wide array of industrial and consumer products, including plastics, fertilizers, detergents, and synthetic fibers.
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