According to the IEA, already a major component of the global energy system, the importance of petrochemicals is continuing to grow. Demand for plastics – the most familiar group of petrochemical products – has outpaced that of all other bulk materials (such as steel, aluminum or cement) and nearly doubled since 2000.1 Oil and petrochemical players are now relying more on chemicals and less on refining for fuels to drive future growth.
