Chemical & Petrochemical
Asia’s petrochemical sector is being reshaped by both the Ukraine-Russia war and the escalating climate crisis. Governments and businesses are striving to ensure sufficient supply of chemical and petrochemical commodities for their markets.
As a result, petrochemical sectors throughout the region are investing heavily in both existing and future solutions and infrastructures. Singapore’s complex chemical and petrochemical export prices also recently registered record highs. South Korea’s petrochemical sector jumped by over 40% in the past year, representing the market’s second-most profitable sector in Q1 2022.
Petrochemical sector growth has the potential to drive significant economic growth in the Asia Pacific markets.