The prevailing perception is that the transition to renewable energy will lead to a decrease in demand for hydrocarbons and petrochemicals. The present work empirically demonstrates that this common sense may be more imaginary than real: it finds evidence that renewable energy deployment may have a positive impact on hydrocarbons through its growing demand for petrochemicals. To obtain rigorous results, we employ state-of-the-art panel time-series methods that account for the main issues in panel data (e.g., cross-sectional dependence, non-stationarity, and heterogeneity) and provide insights for individual countries. Our key finding that renewables have a positive impact on petrochemical import demand is robust across various model specifications considered in the empirical analysis. Using the polymer intensities of the renewable energy systems and the estimated elasticities of demand for petrochemical imports, the global petrochemical polymer demand to meet projected renewable energy system penetration in a net-zero emissions scenario by 2050 was quantified to be in the range of 155 to 223 million metric tons (which translates to a growth in equivalent crude oil demand of 0.80 to 1.13 million barrels per day between 2025 and 2050), depending on the energy system design preferences. Import demand, which is an opportunity for petrochemical exporters, arising mainly from growth in the economies of India and China, accounts for between 67 and 96 million metric tons of polymer materials. The insights into policymaking in the petrochemical-importing economies are that their renewable transition will require more petrochemicals to be imported. The development of manufacturing capabilities for renewable energy technologies and high domestic petrochemical prices would further boost this import. Policymaking in petrochemical-exporting economies should consider that the findings may suggest opportunities to expand petrochemicals and related sectors, such as hydrocarbons.