Petrochemical Market Expansion Supported by Infrastructure Projects
The global petrochemicals market size was estimated at USD 641.01 million in 2024 and is projected to reach USD 973.10 million by 2030, growing at a CAGR of 7.3% from 2025 to 2030. The market is primarily driven by the rising demand for plastics, synthetic fibers, and industrial chemicals across key end-use industries such as packaging, automotive, construction, and consumer goods. Additionally, the availability of low-cost feedstocks, particularly in regions like North America and the Middle East, has enhanced production economics, prompting significant capacity expansions and strategic investments. Key Market Trends & Insights: Asia Pacific held the largest market share of 46.9% in 2024 due to its rapidly expanding industrial base China accounted for over 35.4% of the Asia Pacific petrochemical market in 2024 Ethylene is expected to maintain the largest market share among products during the forecast period Market Size & Forecast: 2024 Market Size: USD 641.01 mil...