Crude-to-chemicals Market is predicted to reach USD 53,854.47 million at a CAGR of 21.16% during the forecast period

Market Research Future (MRFR) has published on the “Global Crude-to-Chemicals Market”.

The Crude-to-Chemicals market is estimated to register a CAGR of 21.16% during the forecast period of 2023 to 2030.

MRFR recognizes the following companies as the key players in the global Crude-to-Chemicals market— Saudi Arabian Oil Co., Shell Global, Exxon Mobil Corporation, Sabic, TotalEnergies and PetroChina Company Limited.

Market Highlights

The Global Crude-to-Chemicals Market Size was valued at USD 13,151.25million in 2022. The Crude-to-Chemicals Market industry is projected to grow from USD 14,048.56 million in 2023 to USD 53,854.47 million by 2030, exhibiting a compound annual growth rate (CAGR) of 21.16% during the forecast period (2023 - 2030).

Crude-to-Chemical (C2C) is a new and transformational idea in the petrochemical sector that attempts to simplify and optimize the conversion of crude oil straight into petrochemical products without the need of traditional refining procedures. The strategy tries to combine steps of upstream exploration and production as well as downstream refining by relying on technological and catalytic advances to enable the direct transformation of crude oil molecules into a diverse variety of useful chemicals and petrochemical intermediates.

One of the key inducements for crude-to-chemical conversion is the potential to lower the industry's environmental footprint. Energy usage and greenhouse gas emissions may be considerably reduced by reducing the need for expensive refining operations. Furthermore, it can improve the petrochemical industry's flexibility and adaptability. This flexibility is critical in today's continuously changing global economy. Producers can react to alterations in market demand and supply chain dynamics more efficiently by generating a greater range of chemicals directly from crude oil.

Segment Analysis

As per MRFR analysis, the global Crude-to-Chemicals market has been segmented based on, Technology, Application, End-Use, and region.

The global Crude-to-Chemicals Market segmentation, Based on Technology, the global market has been divided into Steam Cracking Technology, Hydrocracking Technology, Others. The Steam Cracking segment dominated the global market, accounting for largest share in 2022.

Access full report @ https://www.marketresearchfuture.com/reports/crude-to-chemicals-market-10862

Regional Analysis

By Region, the study segments the Crude-to-Chemicals market into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The Asia-Pacific Crude-to-Chemicals market holds the largest market share and is also anticipated to account for the largest revenue share during the forecast period.

The global market owing to the easy availability of raw materials as well as increasing demand from the end-use industries such as automotive, packaging, and others.

Key Findings of the Study

• The global Crude-to-Chemicals market is expected to reach USD 13,151.25 million by 2030, at a CAGR of 21.16% during the forecast period.


• The Asia-Pacific region accounted for the fastest-growing global market.


• Based on Technology, the Steam Cracking segment was attributed to holding the largest market in 2022.


• Based on End-use, the Packaging segment was attributed to holding the largest market in 2022.


• Saudi Arabian Oil Co., Shell Global, Exxon Mobil Corporation, Sabic, TotalEnergies and PetroChina Company Limited.