Question

What are petrochemicals?

Answer 1

Petrochemicals are chemicals and compounds derived from petroleum resources. They are used in the manufacturing of a wide variety of products such as synthetic fibers, synthetic rubber, ferrous and non-ferrous metals, plastics, dye-stuffs, insecticides, drugs, and pharmaceuticals. Petrochemicals form one of the fastest-growing sectors in the Indian economy with an annual growth rate of about 12-15%, compared to about 10% in the chemical industry.