Many sectors have been influenced by the brunt of COVID-19 extensively where the chemical and petrochemicals industry have also been impacted at a huge scale. Moreover, with an impact on production of many products in this line, the production of the associated products like fertilizers, medicines etc. too has also been impacted severely. In this regard, the agenda behind this study is to examine the impact COVID-19 has posed on the chemicals and petrochemicals industry and to render the suggestions further. The review and descriptive approach has been taken into consideration by utilizing the data available through secondary sources. It has been found that this pandemic has stricken the chemicals and petrochemicals industry as the prices of crude oil has tumbled that has affected petrochemicals positively but shortage of supply from China led to increased prices of chemical raw-materials in short and medium term. The productivity in general has also been deeply affected by production shutdown of both chemicals and petrochemicals, cash flow impediments occurred to great extent, less labour force was available due to migration which had affected chemical industry widely and there has been a reduction in imports of chemicals and petrochemicals due to an impact of COVID-19 on Middle-East and China significantly. However, there has been more emphasis on health and safety, environmental and sustainability concerns, increasing capacity of chemical production, digitalization of core business operations and supply chains, remote working and reduced global workforce movement have been observed as an effect of COVID-19. It has been suggested that feasibility of chemicals and petrochemicals operating units should be evaluated financially, financial strain should be mitigated through fiscal benefits such as reducing taxes or providing tax rebates in assessment year, rendering easy, reasonable and continuous financial backing to SMEs and MSMEs in chemical industry, incessant review of import tariffs and due concern should be given to trade policy measures to protect domestic manufacturers from the effect of dumping and imports of low quality in a short as well as long term.

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Keywords: COVID-19, Chemicals and Petrochemicals Industry, Production Shutdowns, Digitalization, Remote Working, Health and Safety Measures, Sustainability and Environmental Concerns.