March 2017

Trends and Resources

Industry Perspectives: Global petrochemical sector to see robust growth to 2020

The global petrochemical sector will continue to see strong growth through the end of the decade, despite a decrease in new project announcements. The crash in energy markets has shifted the industry’s mindset from bullish to optimistic.

Nichols, Lee, Hydrocarbon Processing Staff

The global petrochemical sector will continue to see strong growth through the end of the decade, despite a decrease in new project announcements. The crash in energy markets has shifted the industry’s mindset from bullish to optimistic. Many new construction projects remain in the works. The most significant expansions will occur in developing countries in the Asia-Pacific and Middle East regions. These regions are investing heavily in petrochemical production portfolios. Some of the strongest growth is seen in the US, where cheap natural gas is fueling more than $100 B in new petrochemical capacity. From 2014–2016, new petrochemical project announcements have represented between 35% and

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