Market Size in 2024 | Market Forecast in 2034 | CAGR (in %) | Base Year |
---|---|---|---|
USD 264.36 Billion | USD 427.75 Billion | 4.93% | 2024 |
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 expected to grow due to high demand for polyethylene and polypropylene in packaging, automotive, and construction, supported by expanding petrochemical infrastructure.
According to a study, the global olefins market size was worth around USD 264.36 Billion in 2024 and is expected to reach USD 427.75 Billion by 2034.
The global olefins market is expected to grow at a CAGR of 4.93% during the forecast period.
Asia-Pacific is expected to dominate the olefins market over the forecast period.
Leading players in the global olefins market include 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., among others.
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