Coherent Market Insights
The market for petrochemicals is being driven by a rise in exploration and mining
Petrochemicals are the raw materials used in the extraction, processing, and
production of petroleum products such as gasoline, diesel, natural gas, and petroleum
diesel. These chemical-related industries constitute one of the largest and fastest-
growing sectors of the global economy. Petrochemicals account for more than half of
China's total GDP.
Today, China's most active oil refining and production company is the Shanghai
Petrochemical Group Co. Ltd., which is one of the biggest industrial users of
petrochemicals in China. At present, Shanghai possesses a number of refineries and
plants involved in the processes including liquid blending, solvent extraction,
photolysis, carbon dioxide oxidation, bromination, and transesterification.
They are divided into two categories, aromatic chemicals, and alkaloids. Among the
alkaloids, the most popular and common one is naphtha. Naphtha is commonly used
as a solvent in several chemical reactions as it is easily available and cheap. Several
refineries are engaged in the process of separation of naphtha from the materials that
are to be refined like natural naphtha, gasoline, kerosene, diesel, etc. These
chemicals are processed further to provide ready-made products like detergents,
paints, lubricants, dyes, varnishes, aromatic chemicals, solvents, and lubricants.
Many of the petrochemical processing plants have their own dedicated facilities and
individual workers who perform all the requisite tasks systematically. They can use
up a vast amount of natural resources and convert them into useful commodities for
the benefit of mankind. The petroleum chemicals manufactured by refineries help in
the growth of the national economy. All the crude oil crude, kerosene, diesel,
gasoline, naphtha, synthetic oil, etc.
The petrochemical industry has emerged as an important player in the g