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Plastics and other petrochemicals will push up the demand for oil by 2050, offsetting slower growth in car fuel consumption, according to report of the International Energy Agency (IEA). Despite the efforts of governments around the world to reduce pollution and carbon emissions from oil and gas, the IEA expects the dynamic growth of emerging market economies, such as India and China, to push up demand for petrochemical products.

These products, obtained from oil and gas processing, are the basis for the production of many goods – from plastic bottles and cosmetics to fertilizers and explosives.

The demand for oil for transport needs is expected to slow down by 2050, due to the introduction of electric cars and more efficient internal combustion engines. But this will be offset by increased demand for petrochemical products.

“The petrochemical sector is among the white spots in the global energy debate and there is no doubt that it will be the key driver of oil demand growth for many years to come”, said the Executive Director of the IEA, Fatih Birol.

The petrochemicals are expected to account for more than 35% of global oil demand growth by 2030 and nearly half of the increase in demand by 2050, according to the report.

World demand for petrochemical materials equals to 12 million barrels of oil per day or nearly 12% of total oil demand in 2017. It is expected to increase to nearly 18 million barrels per day in 2050. Most of the growth in demand will come from the Middle East and China where large oil refineries are being built.

The oil companies, such as ExxonMobil and Royal Dutch Shell, are planning investments in new petrochemical plants over the coming decades, expecting an increase in demand for plastics.

However, the use of plastic is subject to ever stronger criticism, as waste reaches the oceans where it is damaging the marine environment. This has led some countries to ban fully or partially the plastic bags.

However, according to the IEA report, the efforts by governments to promote recycling in attempt to limit carbon emissions will have little effect on the growth of the petrochemical industry.