According to Cognitive Market Research, the global petrochemical market size was USD 625142.2 million in 2024. It will rise at a compound annual growth rate (CAGR) of 7.8% between 2024 and 2031.
North America held the major market share for more than 40% of the global revenue with a market size of USD 250056.9 million in 2024 and will climb at a compound annual growth rate (CAGR) of 6% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 187542.7 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 143782.7 million in 2024 and will climb at a compound annual growth rate (CAGR) of 9.8% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 31257.1 million in 2024 and will climb at a compound annual growth rate (CAGR) of 7.2% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 12502.8 million in 2024 and will climb at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
The propylene category is the fastest-growing product segment of the petrochemical industry.
