IEC market for chemical and petrochemical sectors seen rising through 2030

The Business Research Company says the chemical and petrochemical IEC market will grow from $210.95 billion in 2025 to $294.14 billion in 2030, driven by tighter safety standards, industrial automation and rising petrochemical output. North America led in 2025, while Asia-Pacific is expected to be the fastest-growing region.

Why it matters: - The chemical and petrochemical IEC market is tied to safety, reliability and compliance in plants that handle hazardous materials. - Standardized electrical and automation systems can reduce operational risk and improve equipment interoperability across industrial facilities. - The market’s growth reflects broader investment in industrial infrastructure and automation.

What happened: - The Business Research Company published a 2026 market report on the chemical and petrochemical international electrotechnical commission (IEC) market. - The market is projected to rise from $210.95 billion in 2025 to $226.17 billion in 2026. - The report puts the market at $294.14 billion by 2030. - The report projects a 7.2% CAGR from 2025 to 2026 and a 6.8% CAGR through 2030. - North America held the largest market share in 2025. - Asia-Pacific is expected to be the fastest-growing region over the forecast period.

The details: - The market includes IEC standards, electrical hardware, automation solutions and safety systems used across industrial facilities and infrastructure. - Growth is linked to adoption of international electrical safety standards, investments in chemical and petrochemical infrastructure, and rising demand for dependable power distribution in processing plants. - The report also cites growing demand for certified equipment testing and validation services. - Future growth is expected to come from IEC-compliant automation technologies, safety instrumented systems for hazardous environments, smart electrical devices, connected monitoring systems and energy-efficient installations. - The report highlights wider adoption of IEC electrical standards, standardized safety solutions for hazardous operations, stricter global compliance frameworks, more electrical protection equipment, and more certification and inspection services. - The regional breakdown covers Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, the Middle East and Africa. - The 2026 report adds market attractiveness scoring, TAM analysis, company scoring matrix graphics and tables, Excel forecasting dashboards, market hotspots infographics, and updated technology and trend analysis. - The report includes a free sample request and the full market report.

Between the lines: - Petrochemical production is becoming a bigger demand driver because of the need to turn crude oil and natural gas into ethylene, propylene and other feedstocks used in plastics, textiles and industrial chemicals. - Zero Carbon Analytics projected in May 2024 that oil demand for petrochemical feedstocks will account for about 40% of total oil demand growth between 2022 and 2028. - Industrial automation is also pushing demand for IEC-compliant systems as factories add robotics, controls and sensor-based technologies. - The International Federation of Robotics said the global operational stock of industrial robots reached 4,281,585 units by September 2024, up 10% year over year. - More than 500,000 new robots were installed annually for the third straight year, with Asia accounting for 70% of deployments in 2023, followed by Europe at 17% and the Americas at 10%.

What's next: - The report expects broader deployment of connected monitoring, smarter electrical protection and more standardized safety systems in chemical and petrochemical plants. - Asia-Pacific’s growth trajectory suggests the region could narrow the gap with North America over the forecast period. - More certification and inspection activity may follow as compliance requirements tighten across industrial markets.