Petrochemicals are the synthetic compounds which are derived directly or indirectly from the hydrocarbons present in crude oil & natural gas. Petroleum is a complex mixture which is found entrained in subsurface rocks by the decomposition of fossils. It may contain one or more carbon atoms into which hydrogen atoms are attached. This journey of transformation from raw crude or gas to the user centric petrochemical product involves various complex steps. As per EIA in 2019, the US has used around 27 % of its total petroleum consumption, as petroleum product.
Due to the COVID-19 pandemic the imposition of lockdown and travel restriction all over the world has hampered the petrochemical industry too. The demand and supply both have declined due to less consumption in end use industries and limited demand from the travel sector.