Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 240.1 Billion | USD 348 Billion | 4.76% | 2022 |
FrequentlyAsked Questions
Olefins are also known as alkenes and they are a group of hydrocarbon compounds that are of critical importance to the chemicals and plastics sectors.
The global olefins market is projected to grow owing to the increasing demand from end-user verticals such as the packaging, automotive, construction, and textiles industries.
According to study, the global olefins market size was worth around USD 240.1 billion in 2022 and is predicted to grow to around USD 348 billion by 2030.
The CAGR value of olefins market is expected to be around 4.76% during 2023-2030.
The global olefins market is expected to witness the highest growth in Asia-Pacific. It is currently the largest and highest-growing region in the global industry.
The global olefins market is expected to lead by players like BASF SE, ExxonMobil Chemical, Dow Inc., Sumitomo Chemical Co., Ltd., LyondellBasell Industries, Lotte Chemical Corporation, Saudi Basic Industries Corporation (SABIC), Mitsubishi Chemical Corporation, Royal Dutch Shell plc, Formosa Plastics Corporation, Chevron Phillips Chemical Company LLC, INEOS Group Holdings S.A., Idemitsu Kosan Co., Ltd., China Petroleum & Chemical Corporation (Sinopec), LG Chem Ltd., PetroChina Company Limited, Occidental Petroleum Corporation, Braskem S.A., PTT Global Chemical Public Company Limited, and Reliance Industries Limited.
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