Question

As India marches towards achieving a GDP of US\$5 trillion by 2025-26, the significance of the petrochemicals business is growing as they cater to growth across several sectors viz. agriculture, automotive, packaging, construction, manufacturing, and many more. The demand for chemicals is predicted to nearly triple and the petrochemicals industry in India may reach US$1 trillion by 2040. What are petrochemicals?

Answer 1

Petrochemicals are organic chemicals produced from petroleum (and related feeds like LPG and coal) that serve as raw materials for plastics, synthetic fibres, synthetic rubber, fertilizers, detergents, dyes and many other industrial and consumer products.