HPI Market Data Book 2026: Global construction – Asia-Pacific

The surge in demand for fuel and petrochemical products in Asia has led to significant expansion in refining and petrochemicals capacities, with India and China leading the way

Societal dynamics in the Asia-Pacific region have undergone significant change over the past 20 years. Many Asian nations have seen an exponential growth in their economies, accelerating large proportions of the population into higher socioeconomic classes. In turn, demand for various fuels, petrochemical products and gas have surged, resulting in a sizeable increase in hydrocarbon processing capacity, industrial facilities, housing, roadways, ports and a host of other industrial, commercial and residential frameworks—each adding to an increase in total petroleum product demand. Within the past decade, Asia’s oil demand has increased by approximately 8m b/d, surpassing 39m b/d, according to