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The role of petrochemicals in Europe

Petrochemicals are versatile substances derived from oil or natural gas that are used to make various materials used in all kinds of products and applications. Innovation in the chemicals sector is a key driver of significant value to other sectors.

They are the building blocks of Europe’s industries, with end products going to numerous industries including automotive, healthcare, building and construction, and consumer products that are essential to modern life. Petrochemical producers contribute €155 billion to the overall European economy.

Innovation in the chemical sector is a key driver of significant value to other sectors, all of which benefit from new processes and materials that it enables. The European chemicals manufacturing industry provides 1.15 million direct highly-skilled jobs, while supporting three times more jobs in other industries through indirect employment. The sector has the second highest share of added value per employee (after pharmaceuticals) and between 2005 and 2015, the European chemical industry’s R&D spending averaged €8.3 billion annually. Learn more about Petrochemicals in Europe here.

As a leading global supplier of chemicals, ExxonMobil seeks to maximize our long-standing contributions to economic growth, environmental protection and social well-being by striving to increase energy efficiency, while reducing emissions, water use and waste; while safely and responsibly delivering products needed for economic and social progress, and helping our customers across the value chain develop more sustainable solutions. Read more at ExxonMobil Chemical.

There are more uses for petrochemicals than you can imagine! 

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