The GCC chemicals and petrochemicals industry demonstrated considerable resilience in the face of Covid-19 and oil price fluctuations. With economic diversification a leading concern for GCC economies, this publication details the structure, key stakeholders, and strategic contribution of chemicals and petrochemicals to economic diversification in the region. The report evaluates regional petrochemicals and chemicals production, trade and mega-projects in light of the challenges of 2020-22. Other key topics include M&A deals, environmentally sustainable development and innovation trends. OBG’s analysis not only delves into market specifics within the regional economic context, but also evaluates the outlook for 2022 onwards in light of the global economic recovery, oil price fluctuations and national strategic priorities.