Petrochemicals are chemicals made from petroleum and natural gas. Primary Petrochemicals include olefins, aromatics and methanol. Petrochemicals dominate the global chemicals market with a share of almost 40 percent. The Indian petrochemical sector has contributed significantly to the growth of the Indian economy. The Indian petrochemical industry is valued at $40 billion and is expected to experience a growth of about 12-15% annually over the next five years. Having generated jobs for over 10 lakh people, the industry provides services to industries such as pharmaceuticals, construction, agriculture, textiles, automotive etc. The major driver for the development of petrochemical industry in India is the government’s continuous efforts for our country’s economic growth.
Some of the key players of this industry are- Reliance Industries Ltd., IPCL baroda, Gandhar, Haldia Petrochem, GAIL, Nocil etc.
