Published on May 26, 2017
The global basic petrochemical industry is predictable to reach an estimated $603.2 billion by 2021 and is predict to grow at a CAGR of 4.9% from 2016 to 2021.
Technological innovations aimed at improving manufacturing processes to increase product yield with higher quality are expected to have a positive impact on the petrochemical industry.
Ethylene is likely to remain the largest segment due to increasing demand from various end use applications such as packaging and construction.
Asia Pacific is expected to remain the largest region and is expected to witness above average growth over the forecast period due to economic expansion in India and China and increasing usage of chemicals in different sectors, such as healthcare, automotive, construction, and others.
