The petrochemical industry forms the backbone of the global chemical industry, producing essential building blocks like ethylene, propylene, benzene, and toluene. These chemicals are used to manufacture a wide range of products, including plastics, synthetic rubber, detergents, solvents, and adhesives. The petrochemical market is closely linked to the oil and gas industry, as it relies on crude oil and natural gas as primary feedstocks.

With the rise of consumer electronics, automotive components, and packaging materials, the demand for petrochemicals has surged in recent years. However, the industry faces challenges from environmental regulations, volatile crude oil prices, and increasing pressure to reduce carbon emissions. To address these concerns, companies are investing in bio-based alternatives and advanced recycling technologies to create a more sustainable petrochemical industry.