The global petrochemical market is expected to reach USD 758.3 billion by 2022, according to a new report by Grand View Research, Inc. Growth of key end-use industries such as construction and transportation particularly in BRIC nations is expected to remain a key driving factor for global petrochemical market. Abundant raw material availability in the Middle East is also expected to have a positive impact on the market growth. Shale gas boom in North America and rapid E&P activities in China is further anticipated to drive the global market. Volatile crude oil and naphtha prices on account of political instability in OPEC and supply demand gap are expected to remain a key challenge for market participants.
http://www.grandviewresearch.com/industry-analysis/petrochemical-market
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