Petrochemical Industry

The Petrochemical Industries is one of the major industries in the world. It accounts for 10% of global GDP and is a major contributor to the world's economy. The industry uses various chemicals, which are produced by refining petroleum and other natural resources. The main products of this industry are petroleum, plastics and synthetic fibers.

Petrochemicals (sometimes abbreviated as petchems) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable sources such as maize, palm fruit or sugar cane.

Petrochemical products include such items as plastics, soaps and detergents, solvents, drugs, fertilizers, pesticides, explosives, synthetic fibers and rubbers, paints, epoxy resins, and flooring and insulating materials.