Petrochemicals: still growing: with the demand for chemicals growing well above world GDP, this is an exciting time to be in the petrochemical industry.(Petrochemicals)

Chemistry and Industry | September 29, 2008| | Copyright

Over the next 10 years, some 60% of the world's petrochemicals growth will be in Asia. By 2015, Asia could account for half of global petrochemicals demand, half of it from China. Growth rates of 10%/year in China dwarf the expected 3%/year growth in Europe and North America, although this still represents large increases in volumes.

In the western world, the petrochemicals industry enjoyed almost uninterrupted growth from the end of World War II until the early 1970s. Although closely allied to the oil industry--many petrochemical plants share facilities with oil ...

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