List of Contents

Petrochemical Market Size, Share, and Trends 2024 to 2034

The global petrochemical market size is accounted at USD 700.10 billion in 2025 and is forecasted to hit around USD 1,193.26 billion by 2034, representing a CAGR of 6.11% from 2025 to 2034. The Asia Pacific market size was estimated at USD 349.39 billion in 2024 and is expanding at a CAGR of 6.21% during the forecast period. The market sizing and forecasts are revenue-based (USD Million/Billion), with 2024 as the base year.

  • Last Updated : January 2025
  • Report Code : 1193
  • Category : Chemical and Material

Chapter 1. Introduction

1.1. Research Objective

1.2. Scope of the Study

1.3. Definition

Chapter 2. Research Methodology

2.1. Research Approach

2.2. Data Product Types

2.3. Assumptions& Limitations

Chapter 3. Executive Summary

3.1. Market Snapshot

Chapter 4. Petrochemicals Market Variables and Scope

4.1. Introduction

4.2. Market Classification and Scope

Chapter 5. COVID 19 Impact on Petrochemicals Market

5.1. Covid-19: Petrochemicals Industry Impact

5.2. Petrochemicals Business Impact Assessment: Covid-19

5.2.1. Services Challenges/Disruption

5.2.2. Market Trends and Petrochemicals Opportunities in the COVID-19 Landscape for Major Markets

5.3. Strategic Measures against Covid-19

5.3.1. Government Support and Initiative to Combat Covid-19

5.3.2. Proposal for Petrochemicals Market Players to deal with Covid-19 Pandemic Scenario

6.1. Market Dynamics

6.1.1. Market Drivers

6.1.1.1. Rising demand for downstream products from end-use industries

6.1.1.2. Increasing capacity additions in the base chemical industry

6.1.2. Market Restraints

6.1.2.1. Fluctuating raw material prices

6.1.3. Market Opportunities

6.1.3.1. Emerging applications and markets

Chapter 7. Global Petrochemicals Market: Competitive Landscape

7.1.1. Company Market Share/Positioning Analysis

7.1.1.1. Petrochemicals Market Revenue by Market Players

7.1.1.2. Petrochemicals Market Revenue Market Share by Market Players

7.1.2. Key Organic/Inorganic Strategies Adopted by Players

7.1.2.1. Product Portfolio, Expansion, Geographic Expansion, Product Innovation

7.1.2.2. Merger and Acquisition, Collaboration and Partnerships

7.1.3. Market Players Landscape

7.1.3.1. List of Suppliers

7.1.3.2. List of End user

Chapter 8. Global Petrochemicals Market, By Product Type

8.1. Petrochemicals Market, by Product Type

8.1.1. Ethylene

8.1.2. Market Revenue and Forecast 

8.1.2.1. Polyethylene

8.1.2.2. Market Revenue and Forecast 

8.1.2.3. Ethylene oxide

8.1.2.4. Market Revenue and Forecast 

8.1.2.5. EDC

8.1.2.6. Market Revenue and Forecast 

8.1.2.7. Ethyl benzene

8.1.2.8. Market Revenue and Forecast 

8.1.2.9. Other (including alpha olefins, vinyl acetate, etc.)

8.1.2.10. Market Revenue and Forecast 

8.1.3. Propylene

8.1.4. Market Revenue and Forecast 

8.1.4.1. Polypropylene

8.1.4.2. Market Revenue and Forecast 

8.1.4.3. Propylene oxide

8.1.4.4. Market Revenue and Forecast 

8.1.4.5. Acrylonitrile

8.1.4.6. Market Revenue and Forecast 

8.1.4.7. Cumene

8.1.4.8. Market Revenue and Forecast 

8.1.4.9. Acrylic acid

8.1.4.10. Market Revenue and Forecast 

8.1.4.11. Isopropanol

8.1.4.12. Market Revenue and Forecast 

8.1.4.13. Other

8.1.4.14. Market Revenue and Forecast 

8.1.5. Butadiene

8.1.6. Market Revenue and Forecast 

8.1.6.1. SB Rubber

8.1.6.2. Market Revenue and Forecast 

8.1.6.3. Butadiene rubber

8.1.6.4. Market Revenue and Forecast 

8.1.6.5. ABS

8.1.6.6. Market Revenue and Forecast 

8.1.6.7. SB latex

8.1.6.8. Market Revenue and Forecast 

8.1.6.9. Other (nitrile rubber, mechanical belts, etc.)

8.1.6.10. Market Revenue and Forecast 

8.1.7. Benzene

8.1.8. Market Revenue and Forecast 

8.1.8.1. Ethyl benzene

8.1.8.2. Market Revenue and Forecast 

8.1.8.3. Phenol/cumene

8.1.8.4. Market Revenue and Forecast 

8.1.8.5. Cyclohexane

8.1.8.6. Market Revenue and Forecast 

8.1.8.7. Nitrobenzene

8.1.8.8. Market Revenue and Forecast 

8.1.8.9. Alkyl benzene

8.1.8.10. Market Revenue and Forecast 

8.1.8.11. Other (including alkyl benzene, maleic anhydride)

8.1.8.12. Market Revenue and Forecast 

8.1.9. Xylene

8.1.10. Market Revenue and Forecast 

8.1.11. Toluene

8.1.12. Market Revenue and Forecast 

8.1.12.1. Benzene

8.1.12.2. Market Revenue and Forecast 

8.1.12.3. Xylenes

8.1.12.4. Market Revenue and Forecast 

8.1.12.5. Solvents

8.1.12.6. Market Revenue and Forecast 

8.1.12.7. TDI

8.1.12.8. Market Revenue and Forecast 

8.1.12.9. Others (including pesticides, drugs, nitro toluene, etc.)

8.1.12.10. Market Revenue and Forecast 

8.1.13. Methanol

8.1.14. Market Revenue and Forecast 

8.1.14.1. Formaldehyde

8.1.14.2. Market Revenue and Forecast 

8.1.14.3. Gasoline

8.1.14.4. Market Revenue and Forecast 

8.1.14.5. Acetic acid

8.1.14.6. Market Revenue and Forecast 

8.1.14.7. MTBE

8.1.14.8. Market Revenue and Forecast 

8.1.14.9. Dimethyl ether

8.1.14.10. Market Revenue and Forecast 

8.1.14.11. MTO/MTP

8.1.14.12. Market Revenue and Forecast 

8.1.14.13. Other

8.1.14.14. Market Revenue and Forecast 

Chapter 9. Global Petrochemicals Market, By Manufacturing processes

9.1. Petrochemicals Market, by Manufacturing processes

9.1.1. Fluid Catalytic Cracking (FCC)

9.1.1.1. Market Revenue and Forecast 

9.1.2. Steam cracking

9.1.2.1. Market Revenue and Forecast 

9.1.3. Catalytic reforming

9.1.3.1. Market Revenue and Forecast 

Chapter 10. Global Petrochemicals Market, By Application

10.1. Petrochemicals Market, by Application

10.1.1. Aerospace

10.1.1.1. Market Revenue and Forecast 

10.1.2. Agriculture

10.1.2.1. Market Revenue and Forecast 

10.1.3. Automotive

10.1.3.1. Market Revenue and Forecast 

10.1.4. Building & Construction

10.1.4.1. Market Revenue and Forecast 

10.1.5. Consumer & Industrial Goods

10.1.5.1. Market Revenue and Forecast 

10.1.6. Others

10.1.6.1. Market Revenue and Forecast 

Chapter 11. Global Petrochemicals Market, Regional Estimates and Trend Forecast

11.1. North America

11.1.1. Market Revenue Forecast by Product Type

11.1.2. Market Revenue Forecast by Manufacturing processes 

11.1.3. Market Revenue Forecast by Application 

11.1.4. U.S

11.1.4.1. Market Revenue Forecast 

11.1.5. Canada

11.1.5.1. Market Revenue Forecast 

11.2. Europe

11.2.1. Market Revenue Forecast by Product Type 

11.2.2. Market Revenue Forecast by Manufacturing processes 

11.2.3. Market Revenue Forecast by Application 

11.2.4. UK

11.2.4.1. Market Revenue Forecast 

11.2.5. Germany

11.2.5.1. Market Revenue Forecast 

11.2.6. France

11.2.6.1. Market Revenue Forecast 

11.2.7. Rest of EU

11.2.7.1. Market Revenue Forecast 

11.3. Asia Pacific (APAC)

11.3.1. Market Revenue Forecast by Product Type 

11.3.2. Market Revenue Forecast by Manufacturing processes 

11.3.3. Market Revenue Forecast by Application 

11.3.4. China

11.3.4.1. Market Revenue Forecast 

11.3.5. India

11.3.5.1. Market Revenue Forecast 

11.3.6. Japan

11.3.6.1. Market Revenue Forecast 

11.3.7. Rest of APAC

11.3.7.1. Market Revenue Forecast 

11.4. LATAM

11.4.1. Market Revenue Forecast by Product Type 

11.4.2. Market Revenue Forecast by Manufacturing processes 

11.4.3. Market Revenue Forecast by Application 

11.4.4. Brazil

11.4.4.1. Market Revenue Forecast 

11.4.5. Rest of LATAM

11.4.5.1. Market Revenue Forecast 

11.5. Middle East and Africa (MEA)

11.5.1. Market Revenue Forecast by Product Type 

11.5.2. Market Revenue Forecast by Manufacturing processes 

11.5.3. Market Revenue Forecast by Application 

11.5.4. GCC

11.5.4.1. Market Revenue Forecast 

11.5.5. North Africa

11.5.5.1. Market Revenue Forecast 

11.5.6. South Africa

11.5.6.1. Market Revenue Forecast 

11.5.7. Rest of MEA

11.5.7.1. Market Revenue Forecast 

Chapter 12. Company Profiles

12.1. BASF SE

12.1.1. Company Overview, Business Information, Regional Presence

12.1.2. Product Portfolio, Analysis

12.1.2.1. Product Details, Specification, Application

12.1.3. Revenue, Price, and Gross Margin

12.1.4. Recent Developments and Strategies

12.2. BP Plc.

12.2.1. Company Overview, Business Information, Regional Presence

12.2.2. Product Portfolio, Analysis

12.2.2.1. Product Details, Specification, Application

12.2.3. Revenue, Price, and Gross Margin

12.2.4. Recent Developments and Strategies

12.3. DuPont de Nemours, Inc.

12.3.1. Company Overview, Business Information, Regional Presence

12.3.2. Product Portfolio, Analysis

12.3.2.1. Product Details, Specification, Application

12.3.3. Revenue, Price, and Gross Margin

12.3.4. Recent Developments and Strategies

12.4. Total S.A.

12.4.1. Company Overview, Business Information, Regional Presence

12.4.2. Product Portfolio, Analysis

12.4.2.1. Product Details, Specification, Application

12.4.3. Revenue, Price, and Gross Margin

12.4.4. Recent Developments and Strategies

12.5. Exxon Mobil Corp.

12.5.1. Company Overview, Business Information, Regional Presence

12.5.2. Product Portfolio, Analysis

12.5.2.1. Product Details, Specification, Application

12.5.3. Revenue, Price, and Gross Margin

12.5.4. Recent Developments and Strategies

12.6. China Petroleum & Chemical Corporation

12.6.1. Company Overview, Business Information, Regional Presence

12.6.2. Product Portfolio, Analysis

12.6.2.1. Product Details, Specification, Application

12.6.3. Revenue, Price, and Gross Margin

12.6.4. Recent Developments and Strategies

12.7. Saudi Arabian Oil Co.

12.7.1. Company Overview, Business Information, Regional Presence

12.7.2. Product Portfolio, Analysis

12.7.2.1. Product Details, Specification, Application

12.7.3. Revenue, Price, and Gross Margin

12.7.4. Recent Developments and Strategies

12.8. Sumitomo Chemical Co., Ltd.

12.8.1. Company Overview, Business Information, Regional Presence

12.8.2. Product Portfolio, Analysis

12.8.2.1. Product Details, Specification, Application

12.8.3. Revenue, Price, and Gross Margin

12.8.4. Recent Developments and Strategies

12.9. Dow

12.9.1. Company Overview, Business Information, Regional Presence

12.9.2. Product Portfolio, Analysis

12.9.2.1. Product Details, Specification, Application

12.9.3. Revenue, Price, and Gross Margin

12.9.4. Recent Developments and Strategies

12.10. Chevron Phillips Chemical Company

12.10.1. Company Overview, Business Information, Regional Presence

12.10.2. Product Portfolio, Analysis

12.10.2.1. Product Details, Specification, Application

12.10.3. Revenue, Price, and Gross Margin

12.10.4. Recent Developments and Strategies

Chapter 13. Appendix

13.1. About Us

13.2. Glossary of Terms

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Frequently Asked Questions

The global petrochemical market size surpassed at USD 659.22 billion in 2024 and is expected to reach USD 1,193.26 billion by the end of 2034.

The global petrochemical market is growing at a remarkable CAGR of 6.11% during the forecast period 2025 to 2034.

Increasing usage of petrochemical in industrial applications including construction, automotive, aviation, food, electricals, paint and coatings, paper and pulp is major factor driving growth of the global petrochemical market. Additionally, capacity expansion of petrochemical by the major operating players is another factor expected to boost growth of the target market in the coming years.

Among the product type segment, ethylene segment is dominated the overall market in 2024 with more than 25% share in terms of revenue, owing to its wide applications in various end use industries including transportation, construction and packaging.

Among the application building & construction segment accounted for the significant share.

The major companies functioning in the worldwide petrochemical market include China Petroleum & Chemical Corporation, Exxon Mobil Corp., Chevron Phillips Chemical Company, Sumitomo Chemical Co., Ltd. BASF SE, Saudi Arabian Oil Co. DuPont de Nemours, Inc. Dow, BP Plc, Total S.A. among others.

Petrochemical is an essential part of the chemical industry due to its increased adoption for synthetic material production. Petrochemicals are majorly produced from hydrocarbons like butane, ethane, propane, and other components of natural gas or petroleum.

Thousands of end use products are manufactured using petrochemicals such as wind turbines, solar power panels, furniture, cosmetics, medicines, electronics, and plastics among others.

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