The United States petrochemicals market size was approximately USD 107.35 Billion in 2024. The market is projected to grow at a CAGR of 6.60% between 2025 and 2034, reaching a value of around USD 203.41 Billion by 2034.

Petrochemicals, also known as petroleum distillates, are chemicals obtained from petroleum by refining. The market volume of petrochemicals in the United States is forecast to grow to over ** million metric tons by 2027.

Petrochemicals are essential to producing various items, keeping the need for products relatively stable. Revenue is typically in line with commodity prices and is very sensitive to swings in the price of critical inputs, primarily crude oil and natural gas. Revenue fell drastically amid the pandemic as oil and gas prices plummeted while the country went into lockdown. Even so, the need for petrochemicals was slightly buffed as residential construction thrived following low interest rates. After lockdowns ended, oil and gas prices skyrocketed, which aided growth as revenue nearly doubled. While price hikes caused petrochemicals to become more expensive, manufacturers were able to pass these costs down to customers, bolstering profitability. For the remainder of the period, revenue continued to swing alongside oil and gas prices as they slowly stabilized. Overall, revenue is set to swell at a CAGR of 6.8% to $82.0 billion through 2024, including a 1.1% uptick in 2024 alone. Exports continue to be critical for petrochemical manufacturers. China and India have drastically expanded their need for domestic products to bolster their markets, causing exports to surge despite an appreciation of the US dollar, which made US petrochemicals more expensive to foreign buyers. Canada also remained a significant export hub because of its proximity to the US. Oil and natural gas prices are set to dip and regress after intense growth spurts, which will cause revenue to dip. This is because supply chains are stabilizing alongside competitive global markets. Manufacturers will still exhibit steady revenue flow as the need for petrochemicals from downstream markets remains intact. The emergence of alternative feedstocks, like biodegradable materials, poses a threat because of their environmental friendliness. Nonetheless, their higher cost has limited their ability to make a substantial impact on reducing the reliance on petrochemicals.

Market Size statistics on the Petrochemical Manufacturing industry in the US

In 2024, China accounted for over 46.3 percent of global petrochemical sales. The United States had the second-largest share of petrochemical sales worldwide but by a wide margin, accounting for roughly 11.3 percent. The global petrochemical industry had a market value of 584.5 billion U.S. dollars in 2022.

Primary Petrochemicals Market Outlook

The global primary petrochemicals market size was valued at approximately USD 450 billion in 2023 and is projected to reach around USD 690 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period. Growth in this market is driven by increasing demand from various end-user industries, technological advancements, and expanding applications of petrochemical derivatives.

One of the significant growth factors for the primary petrochemicals market is the rapid industrialization and urbanization in developing countries, particularly in Asia-Pacific. As economies in this region continue to expand, there is a parallel surge in infrastructure development, automotive production, and consumer goods manufacturing, all of which heavily rely on primary petrochemicals. Additionally, innovations in production technologies have led to more efficient and cost-effective methods of extracting and refining petrochemicals, contributing to market growth.

Another important factor driving the market is the growing use of primary petrochemicals in the production of plastics, synthetic fibers, and synthetic rubbers. The versatility and durability of these materials make them indispensable in various sectors such as automotive, construction, and packaging. For instance, the automotive industry utilizes large quantities of plastics and synthetic rubbers for manufacturing lightweight, fuel-efficient vehicles, which align with stringent environmental regulations and consumer preferences for eco-friendly options.

Moreover, the increasing need for sustainable and efficient energy solutions has led to investments in petrochemical plants capable of producing cleaner fuels and advanced materials. The rise in shale gas extraction, particularly in the United States, has provided a substantial feedstock supply, thereby reducing raw material costs and enhancing the profitability of primary petrochemical production. This trend is expected to continue, further bolstering the market through the forecast period.

From a regional perspective, North America, led by the United States, is one of the significant contributors to the primary petrochemicals market, thanks to abundant natural gas reserves and advanced technological infrastructure. However, the Asia-Pacific region, particularly China and India, is expected to witness the highest growth rate due to rapid industrialization and urbanization. Stringent environmental regulations in Europe and increasing investments in sustainable petrochemical production are also key factors influencing regional market dynamics.

Product Type Analysis

Ethylene: Ethylene is a primary building block in the petrochemicals industry, widely used in the production of polyethylene, one of the most common plastics. The robust demand for polyethylene in packaging, automotive, and construction sectors drives the ethylene market. Technological advancements in ethylene production, such as the adoption of steam cracking and catalytic cracking methods, have significantly enhanced production efficiency and reduced costs. Moreover, the increasing use of ethylene in the production of ethylene oxide and ethylene glycol, essential for antifreeze applications, further fuels market growth.

Propylene: Propylene is another vital component in the primary petrochemicals market, primarily used in producing polypropylene, acrylonitrile, and propylene oxide. The rising consumption of polypropylene in packaging, textiles, and automotive industries is a key growth driver. Additionally, the development of propane dehydrogenation (PDH) technologies has enabled efficient and cost-effective production of propylene, contributing to the market's expansion. The versatility of propylene derivatives in numerous applications underscores its prominence in the petrochemicals sector.

Butadiene: Butadiene is extensively utilized in manufacturing synthetic rubber, which is crucial for the automotive industry. Advances in butadiene extraction techniques and the increasing demand for high-performance tires are expected to propel market growth. Furthermore, butadiene's application in producing acrylonitrile-butadiene-styrene (ABS) and styrene-butadiene rubber (SBR) adds to its market significance. The automotive industry's focus on fuel efficiency and performance will continue to drive demand for butadiene-derived products.

Benzene: Benzene is a core chemical used in the

United States - Producer Price Index by Industry: Petrochemical Manufacturing: Primary Products was 150.19500 Index Dec 2003=100 in August of 2025, according to the United States Federal Reserve. Historically, United States - Producer Price Index by Industry: Petrochemical Manufacturing: Primary Products reached a record high of 316.90000 in July of 2008 and a record low of 74.40000 in May of 2020. Trading Economics provides the current actual value, an historical data chart and related indicators for United States - Producer Price Index by Industry: Petrochemical Manufacturing: Primary Products - last updated from the United States Federal Reserve on September of 2025.

Graph and download economic data for Producer Price Index by Industry: Petrochemical Manufacturing (PCU3251132511) from Dec 2003 to Aug 2025 about manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.

Between March 2013 to December 2017, the cumulative investments in the petrochemicals industry in the United States grew from 72 billion U.S. dollars to 185 billion U.S. dollars. Since 2010, the U.S. petrochemicals industry has benefitted from the availability of low-cost shale gas, especially in the U.S. Gulf Coast region.

The average petrochemical export price stood at $428 per ton in April 2025, with a decrease of -4% against the previous month.

Production of Petrochemical in the United States - 2025. Find the latest marketing data on the IndexBox platform.

Employment statistics on the Petrochemical Manufacturing industry in the US

Ethylene, also known as ethene, is a hydrocarbon and a petrochemical. The global production of ethylene is greater than any other organic compound, as it is widely used by the chemical industry. Petrochemicals, also known as petroleum distillates, are chemicals obtained from petroleum by refining. The market demand for ethylene in the United States is forecast to grow to over ** million metric tons by 2027.

Petrochemical and Natural Gas Adsorbents Market size was valued at USD 9.75 Billion in 2023 and is projected to reach USD 14.92 Billion by 2030, growing at a CAGR of 7.8% during the forecast period 2024-2030.

Global Petrochemical and Natural Gas Adsorbents Market Drivers

The growth and development of the Petrochemical and Natural Gas Adsorbents Market is attributed to certain main market drivers. These factors have a big impact on how Petrochemical and Natural Gas Adsorbents are demanded and adopted in different sectors. Several of the major market forces are as follows:

Growing Demand for Natural Gas: The production, processing, and storage of natural gas need the use of effective adsorbents.

Growing Petrochemical Industry: The growing petrochemical sector, which involves the manufacturing of polymers, chemicals, and plastics, increases the need for adsorbents for a range of applications, including separation and catalysis.

Shale Gas Boom: The extraction and development of shale gas, particularly in the United States, has led to a rise in the need for adsorbents in the processing and purification of shale gas.

Environmental laws: Tight environmental laws and an emphasis on emission reductions necessitate the use of efficient adsorbents for the elimination of contaminants and impurities from natural gas streams.

Carbon Capture and Storage (CCS) Initiatives: Expanding efforts to sequester and retain carbon emissions from industrial activities, such as the manufacture of petrochemicals and natural gas, present prospects for adsorbents employed in carbon capture systems.

Intense Refining Operations: The worldwide growth of oil refining operations fuels the need for adsorbents for procedures like desulfurization and impurity extraction from refined goods.

Transition to Renewable Natural Gas (RNG): Adsorbents have the potential to play a significant role in the upgrading and purification of biogas, as the generation of RNG from organic waste and the growing emphasis on renewable energy sources present prospects.

The Petrochemical Manufacturing industry in Texas is expected to grow an annualized x.x% to $x.x billion over the five years to 2025, while the national industry will likely grow at x.x% during the same period. Industry establishments stagnated an annualized x% to xx locations. Industry employment has decreased an annualized -x.x% to x,xxx workers, while industry wages have increased an annualized x.x% to $x.x billion.

The US Oil and Gas Downstream Refining industry, currently exhibiting a Compound Annual Growth Rate (CAGR) of 0.97%, presents a complex landscape shaped by various factors. The market size, while not explicitly stated, can be reasonably estimated based on global trends and the prominence of US players. Considering the significant contribution of major companies like Marathon Petroleum Corp, Phillips 66, Valero Energy Corporation, Exxon Mobil Corporation, and Shell Plc, the market is likely in the hundreds of billions of dollars. Key drivers include increasing global energy demand, particularly in developing economies, and the ongoing shift towards more sophisticated refined products like petrochemicals. However, stringent environmental regulations, fluctuating crude oil prices, and the rise of renewable energy sources pose significant restraints. The industry is segmented into refining and petrochemicals, with the refining segment likely dominating due to the fundamental need for gasoline, diesel, and jet fuel. Growth in the petrochemicals segment is expected to be driven by the increasing demand for plastics and other chemical products. Regional analysis suggests strong performance in North America, driven by domestic production and consumption, while international markets, particularly in Asia Pacific and Europe, experience varying growth depending on local regulations and economic conditions. The forecast period (2025-2033) will see continued competition among established players, along with potential for consolidation and strategic partnerships. Further analysis reveals significant opportunities for growth within specialized refining technologies focusing on efficiency improvements and reduced emissions. The industry is actively pursuing innovations to mitigate environmental impact, including carbon capture and storage technologies. Government policies, including tax incentives for cleaner fuels and regulations aimed at reducing emissions, play a critical role in shaping industry trajectory. Furthermore, the fluctuating geopolitical landscape significantly influences crude oil prices and subsequently impacts profitability within the downstream refining sector. Therefore, strategic risk management and adaptation to evolving global dynamics are crucial for success in this sector. Recent developments include: In June 2024, the United States announced refining capacity expansion of around 1.5% to 18.38 million barrels per day (bpd) in 2023. The expansion in the capacity was due to the expansion of Exxon Mobil's Texas refinery.. Key drivers for this market are: 4., Increasing Demand for Petroleum Products4.; Upcoming Investment in the Refining Sector. Potential restraints include: 4., Increasing Demand for Petroleum Products4.; Upcoming Investment in the Refining Sector. Notable trends are: Refining Sector to Register a Modest Growth.

Benzene is a natural part of crude oil. It is an organic chemical and a petrochemical. Petrochemicals, also known as petroleum distillates, are chemicals obtained from petroleum by refining. The market demand for benzene in the United States is forecast to grow to over ** million metric tons by 2027.

The Petrochemical Manufacturing industry in Florida is expected to grow an annualized x.x% to $x.x million over the five years to 2025, while the national industry will likely grow at x.x% during the same period. Industry establishments stagnated an annualized x% to x locations. Industry employment has decreased an annualized -x.x% to xx workers, while industry wages have decreased an annualized -x.x% to $x.x million.

What is covered in the report about the “The US Xylenes Industry” GlobalData’s report, “Xylenes Industry Outlook in United States to 2020 – Market Size, Company Share, Price Trends, Capacity Forecasts of All Active and Planned Plants”, provides up to date in-depth information on the US’s Xylenes industry. The report presents major market trends. The report covers the US’s Xylenes plants and presents installed capacity by process and technology. The report offers historical and forecast market size, demand and production forecasts, end-use demand details, price trends, trade balance data, and company shares of the country’s leading Xylenes producers. Note: This is an on-demand report and will be delivered within 4-5 working days of the purchase (excluding weekends). The report provides comprehensive coverage of all parameters of the Xylenes industry. Comprehensive information of all active Xylenes plants in the US Comprehensive information of all planned Xylenes projects in the US Capacity forecasts to 2020 with details like process, technology, operator and equity Xylenes industry supply scenario in the US from 2006 to 2020 Plant capacity growth and installed plant capacity by production process and technology Xylenes industry market dynamics in the US from 2006 to 2020 Market size, demand and production outlook, demand by end-use sector, and average prices Trade balance data from 2006 to 2020 Import and export data and net exports and imports as a percentage of demand Company details, including company overview, business description and information on current and upcoming Xylenes plants Company capacity shares for key Xylenes producers in the US. Key Reasons to Purchase “Xylenes Industry Outlook in United States to 2020” report provides you with: Latest information on the US’s Xylenes industry Macro and microeconomic trends affecting the US’s Xylenes industry Market positioning of the country’s Xylenes producers Opportunities in the Xylenes industry Market-entry and market-expansion strategies Enables you to benchmark your operations and strategies against those of major companies The GlobalData Differentiation GlobalData conducts hundreds of primary interviews a year with industry participants and commentators in order to validate its data and analysis. A typical research interview fulfills the following functions: It provides first-hand information on market size, market trends, growth trends, competitive landscape, and future outlooks for markets and sectors. It helps in validating and strengthening secondary research findings. It further develops the analysis team’s expertise and market understanding. Primary research involves email interactions, telephone interviews and face-to-face interviews for each market, category, segment and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to: Industry participants: CEOs, VPs, business development managers, market intelligence managers and national sales managers, Outside experts: investment bankers, valuation experts, research analysts and key opinion leaders specializing in petrochemicals markets. Coverage GlobalData aims to cover all major news events and deals in the petrochemical industry, updated on a daily basis. The coverage is further streamlined and strengthened with additional inputs from GlobalData’s expert panel (see below). Expert Panel Validation GlobalData uses a panel of experts to cross-verify research and forecast methodologies and drive its analytical content. The GlobalData expert panel comprises marketing managers, product specialists, international sales managers from petrochemical companies; academics and geologists from research universities, consultants from venture capital funds and distributors/suppliers of petrochemicals goods and services. Custom Requirements Contact us to discuss the areas of your business where you need external input, and we will work with you to identify the strongest way forward to meet your needs. Read More

Graph and download economic data for Producer Price Index by Industry: Petrochemical Manufacturing: Aromatics (Benzene, Toluene, Xylene, etc.), Made in Petrochemical Plants (PCU3251103251101) from May 1983 to Dec 2013 about plant, manufacturing, PPI, industry, inflation, price index, indexes, price, and USA.