Global Petrochemical Industry
The global petrochemical industry has entered a transition phase, with a large degree of expansion forecast between 2012 and 2022. Competition from Middle Eastern market players is also expected to fuel this change, particularly when coupled with the impact of the Eurozone crisis. Before the end of 2012, the industry is expected to exceed $609 billion.
Concern over environmental issues, with sustainability in particular a matter of concern, the petrochemical market is meeting resistance in developing countries. In developed countries, however, sustainability constitutes less of an obstacle to market expansion.