From GlobeNewswire: 2024-06-04 19:00:00

The global hydrocarbon market is expected to grow from USD 72,578.42 million in 2023 to USD 99,872.73 million by 2033 at a CAGR of 3.24%. Hydrocarbons are organic compounds consisting of hydrogen and carbon atoms, vital for various applications like synthetic rubber and fuel. New technologies like electric vehicles may disrupt long-term hydrocarbon consumption. The aromatic segment is expected to dominate the market, while the energy segment is projected to grow the fastest. Asia Pacific is set to hold the largest share of the market, with North America expected to grow at the fastest CAGR. Competitive analysis reveals key players like Reliance Industries Limited and Exxon Mobil Corporation. In January 2024, Agrify Corporation signed a sales agreement with Ocean Deep/Golden Lake Business Park for a hydrocarbon extraction lab package. The market is segmented by type and application across different regions globally. Spherical Insights is a market research and consulting firm providing forward-looking insights to aid decision-makers across various industries.



Read more at GlobeNewswire: Global Hydrocarbon Market Size To Worth Exceed USD 99872.73