The global oil and gas market will grow to $5.87 trillion this year
According to Jeddah’s August 17, the global oil and gas market is expected to grow from US$4.68 trillion in 2020 to US$5.87 trillion in 2021, with a compound annual growth rate of 25.5%.
According to the "2021 Global Oil and Gas Market Report" released by W7Worldwide, it is estimated that by 2025, the global oil and gas market will reach 7.43 trillion US dollars, with a compound annual growth rate of 6%.
The oil and gas industry is developing a circular economy to improve the sustainability of its operations and help combat climate change. By 2030, the circular economy will provide more than US$4.5 trillion in market opportunities.
For example, Saudi Arabia used its G20 presidency to promote its circular carbon economy plan. As part of the Vision 2030 plan, the country is the first country to export blue hydrogen for zero-carbon power generation. Saudi Arabia's goal is to occupy a leading supply position in the fast-growing hydrogen market.
Looking for chemical products? Let suppliers reach out to you!
You May Interested In
2026-06-22
Trade Alert
Delivering the latest product trends and industry news straight to your inbox.
(We'll never share your email address with a third-party.)
Related News
-
When Global Buyers No Longer Visit Trade Shows but “Select Suppliers with a Click”
-
When Global Buyers Sit at the Same Table, Chinese Suppliers Respond: A Real 1-on-1 Online Business Matching Event
-
From API China to the Global Pharmaceutical Chain: ECHEMI Is Reshaping the "New Speed" of Pharmaceutical Trade
-
On the Second Day of the 93rd API China: ECHEMI Advances Global Dialogue in the Pharmaceutical Industry Through Innovative Practices
-
Review of the 93rd API China: In Chongqing, Witnessing the Global Pulse of the Pharmaceutical Industry
-
Understand the New Rules to Enter the Market | ECHEMI × API China 2026 Overseas Pharmaceutical Market & Product Trends Conference Successfully Concluded
-
ECHEMI WPO and Pharmaceutical Division Showcase Dual Strengths at the 94th API China, Tackling Pharmaceutical Export Challenges with Precision
-
72 Hours at API China: Where China’s API Export Industry Is Heading Next
-
ECHEMI and CPHI China Jointly Host Pharmaceutical Business Match-making Event
Recommend Reading
-
“Fake Fame” in a Forgotten Dock: Chinese Authorities Bust $100,000 Counterfeit Building Materials Ring
-
Asian Paints Dives Deeper into the Desert: Unveils Second UAE Plant to Dominate GCC Coatings Market
-
“Zero Tariff Is Not a Get-Out-of-Jail-Free Card”: Hainan’s Full Customs Closure—Boon or Trap for the Chemical Industry?
-
MIBK Market in 2025 Stabilizes First, Then Declines; Enters Supply and Demand Optimization Stage in 2026
-
Jotun Bets Big on China’s Green Industrial Future with $330 Million Mega-Plant in Zhangjiagang