July 19, 2022--Researched by Industrial Info Resources (Sugar Land, Texas)--In the global quest for renewable materials as substitutes to petroleum-based feedstocks, the Oil & Gas Industry is high on the target list. Globally, most petrochemicals are derived from oil, but in the U.S., most petrochemicals are produced from natural gas. Many may be surprised that the sector goes far beyond fuel and the more commonly known end-uses. In fact, petrochemicals are major components in the Pharmaceutical & Biotech Industry. There are numerous reports that estimate approximately 3% of petroleum production is used for pharmaceutical manufacturing, but nearly 99% of pharmaceutical feedstocks and reagents are derived from petrochemicals.