Petrochemicals in MENA estimated to register CAGR of 6% until 2020

摘要

PETROCHEMICALS in the Middle East and North Africa (MENA) region is estimated to register CAGR of 6% from 2016 to2020,asperWise GuyReports.Com. The increased demand for petrochemical products from the automotive industry is the primary driver for the growth of this market. The automotive sector accounts for more than 15% consumption of the overall petrochemicals produced globally, with the MENA region accounting for 20% of the global production. For instance, the use of petrochemical products can increase the fuel efficiency of automobiles by nearly 30%.