Image

Global Benzene Market – Industry Trends and Forecast to 2030

Chemical and Materials

Image

Global Benzene Market – Industry Trends and Forecast to 2030

  • Chemical and Materials
  • Upcoming Report
  • Jul 2023
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global Benzene Market – Industry Trends and Forecast to 2030

Market Size in USD Billion

CAGR :  % Diagram

Diagram Forecast Period 2022–2030
Diagram Market Size (Base Year) USD 48.65 Billion
Diagram Market Size (Forecast Year) USD 62.55 Billion
Diagram CAGR %

Global Benzene Market, By Derivative (Alkyl Benzene, Cumene, Cyclohexane, Ethyl Benzene, Nitro Benzene, Others), End-Use Industry (Construction, Transportation, Medical, Pulp and Paper, Automobile Industries, Packaging, Textile) - Industry Trends and Forecast to 2023 to 2030.

Benzene Market

Benzene Market Analysis and Size

The essential factors contributing to the growth of the global benzene market in the forecast period of 2023 to 2030 include the growing phenol consumption and the rising demand for methylene diphenyl diisocyanate. Also, increasing demand for polyester in sectors such as textiles, packaging, and automotive is significantly contributing to the market’s growth.

Data Bridge Market Research analyses that the global benzene market, which was USD 48.65 billion in 2022, is expected to reach USD 62.55 billion by 2030, growing at a CAGR of 3.0% during the forecast period of 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.

Benzene Market Scope and Segmentation

Report Metric

Details

Forecast Period

2023 to 2030

Base Year

2022

Historic Years

2021 (Customizable to 2015-2020)

Quantitative Units

Revenue in USD Billion, Volumes in Million Square Meters, Pricing in USD

Segments Covered

By Derivative (Alkyl Benzene, Cumene, Cyclohexane, Ethyl Benzene, Nitro Benzene, Others), End-Use Industry (Construction, Transportation, Medical, Pulp and Paper, Automobile Industries, Packaging, Textile)

Countries Covered

U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa

Market Players Covered

China National Petroleum Corporation (China), Haldia Petrochemicals Limited (India), PTT Global Chemical Public Company Limited (Thailand), Indian Oil Corporation Ltd (India), GS Caltex Corporation (South Korea), Dow (USA), Reliance Industries Limited (India), SABIC (Saudi Arabia), Royal Dutch Shell Plc (Netherlands), Repsol (Spain), Arsol Aromatics GmbH & Co. KG (Germany), BASF SE (Germany) and ExxonMobil Corporation (USA), among others

Market Opportunities

  • Growing demand for benzene derivatives

Market Definition

Benzene is a highly flammable, colorless, sweet-smelling aromatic hydrocarbon and a ware petrochemical industrial solvent. It tends to evaporate rapidly on being exposed to air and is a petrochemical product that has various subsidiaries such as aniline, alkyl benzene, cumene, cyclohexane, chlorobenzene, ethylbenzene, nitrobenzene, phenol among others. It is used in numerous sectors such as consumer products, electrical & electronics, transportation, construction, and medical and is also used as a solvent in a large range of commercial and economic industries. 

Global Benzene Market Dynamics

Drivers

  • Rising demand for polyester in various sectors

The rising demand for polyester in sectors such as textiles, packaging, and automotive is driving the benzene market. Benzene is a crucial component in the production of polyester fibers and resins, making it an essential raw material. The increasing consumption of polyester products fuels the demand for benzene as a key feedstock, presenting potential growth in the market.

  • Increase in phenol consumption and rise in demand for methylene diphenyl diisocyanate

The increase in phenol consumption, which relies on benzene as a feedstock, and the rising demand for methylene diphenyl diisocyanate (MDI), a key component in polyurethane production, drive the benzene market. phenol consumption is increasing due to its widespread use in various industries, such as pharmaceuticals, plastics, adhesives, and coatings. Its versatile properties make it a valuable ingredient in products ranging from disinfectants to resins, driving the growing demand. These factors create opportunities for benzene producers and suppliers to meet the growing demand for these derivatives and expand their market share.

Opportunities

  • The growing demand for benzene derivatives

The growing demand for benzene derivatives, driven by sectors like automotive, construction, and electronics, presents an opportunity in the benzene market. Producers and suppliers can capitalize on this demand by meeting the increasing need for plastics, synthetic fibers, resins, and rubber and expanding their market presence and profitability.

Restraints/Challenges

  • Detrimental effects of benzene exposure and volatility in the price of crude oil

On the other hand, the detrimental effects of benzene exposure, such as its toxicity and carcinogenicity, raise health and safety concerns, potentially limiting its use and demand. Additionally, the volatility in crude oil prices, a key feedstock for benzene production, can lead to price fluctuations, affecting the stability and profitability of the benzene market.

This benzene market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the Global Benzene market, contact Data Bridge Market Research for an Analyst Brief. Our team will help you make an informed market decision to achieve market growth.

Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays

Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions. Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.

Expected Impact of Economic Slowdown on the Pricing and Availability of Products

When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.

Recent Developments                

  • In March 2022, INEOS agreed to purchase a 50% share in Shanghai SECCO Petrochemical Company Limited. This is a subsidiary company of China Petroleum & Chemical Corporation. SECCO has a current production capacity of 4, 2 MMT of petrochemicals, including ethylene, propylene, polyethylene, polypropylene, styrene, polystyrene, butadiene, benzene, and toluene. The 200-hectare site is located in the Shanghai Chemical Industry Park. The company will be able to increase its presence in China
  • In February 2021, Hengyi Petrochemical announced to build a benzene plant to raise the yearly capacity from 500 kilotons to 800 kilotons. Through this action, the corporation hopes to grow its petrochemical division.

Global Benzene Market Scope

The global benzene market is segmented on the basis of derivative and end-use industries. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Derivative

  • Alkyl Benzene
  • Cumene
  • Cyclohexane
  • Ethyl Benzene
  • Nitro Benzene
  • Others

End-Use Industry

  • Construction
  • Transportation
  • Medical
  • Pulp and Paper
  • Automobile Industries
  • Packaging
  • Textile

Global Benzene Market Regional Analysis/Insights

The global benzene market is analyzed, and market size insights and trends are provided by the country, derivative, and end-use industry, as referenced above.

The countries covered in the global benzene market report are U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa.

Germany is expected to dominate the benzene market due to the rising demand for polyester in sectors such as textiles, packaging, and automotive. The increasing consumption of polyester products fuels the demand for benzene, as it is a crucial component in the production of polyester fibers and resins.

Asia-Pacific is expected to grow during the forecast period of 2023 to 2030 because phenol consumption is increasing due to its widespread use in various industries, such as pharmaceuticals, plastics, adhesives, and coatings. Additionally, the rising demand for methylene diphenyl diisocyanate (MDI), a key component in polyurethane production is also driving the market.

The country section of the report also provides individual market impacting factors and changes in regulations in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends porter's five forces analysis, and case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, the impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Global Benzene Market Share Analysis

The global benzene market competitive landscape provides details by competitors. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to the global benzene market.

Some of the major players operating in the global benzene market are:

  • China National Petroleum Corporation (China)
  • Haldia Petrochemicals Limited (India)
  • PTT Global Chemical Public Company Limited (Thailand)
  • Indian Oil Corporation Ltd (India)
  • GS Caltex Corporation (South Korea)
  • Dow (USA)
  • Reliance Industries Limited (India)
  • SABIC (Saudi Arabia)
  • Royal Dutch Shell Plc (Netherlands)
  • Repsol (Spain)
  • Arsol Aromatics GmbH & Co. KG (Germany)
  • BASF SE (Germany)
  • ExxonMobil Corporation (USA)


SKU-

Please fill in the below form for detailed Table of Content

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Table

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for detailed List of Figure

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Please fill in the below form for Infographics

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Research Methodology:

Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market and primary (industry expert) validation. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Please fill in the below form for Research Methodology

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

Customization Available:

Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.

Please fill in the below form for Available Customization

By clicking the "Submit" button, you are agreeing to the Data Bridge Market Research Privacy Policy and Terms and Conditions

FREQUENTLY ASK QUESTIONS

The Benzene Market will be worth USD 62.55 billion by 2030 during the forecast period.
The Benzene Market Growth Rate is 3.0% during the forecast period.
The Increase in phenol consumption and rise in demand for methylene diphenyl diisocyanate and the Rising demand for polyester in various sectors are the Growth drivers of the Benzene Market.
The derivative and end-use industries are the factors on which the Benzene Market research is based
The major companies in the Benzene Market are China National Petroleum Corporation (China), Haldia Petrochemicals Limited (India), PTT Global Chemical Public Company Limited (Thailand), Indian Oil Corporation Ltd (India), GS Caltex Corporation (South Korea), Dow (USA), Reliance Industries Limited (India), SABIC (Saudi Arabia), Royal Dutch Shell Plc (Netherlands), Repsol (Spain), Arsol Aromatics GmbH & Co. KG (Germany), BASF SE (Germany) and ExxonMobil Corporation (USA).
Free Sample Report

CHOOSE LICENCE TYPE

  • 7000.00
  • 4800.00
  • 3000.00
  • 8000.00
  • 12000.00

Why Choose Us

Industry Coverage

DBMR works across the globe in multiple industries which equip us with knowledge across verticals and provide our clients with insights not only from their industry but how other industries will impact their ecosystem.

Regional Coverage

Coverage of Data Bridge is not restricted to developed or emerging economies. We work across the globe covering the largest array of countries where no other market research or business consulting firm has ever conducted research; creating growth opportunities for our clients in areas which are still unknown.

Technology Coverage

In today’s world, technology drives the market sentiment, so our vision is to provide our clients insights not only for developed technologies but upcoming and disrupting technological changes throughout the product lifecycle by enabling them with unforeseen opportunities in the market which will create disruption in their industry. This leads to innovation and our clients to come out as winners.

Goal Oriented Solutions

DBMR goal is to help our clients achieve their goals through our solutions; hence we formatively create the most appropriate solutions for our client needs, saving time and efforts for them to drive their grand strategies.

Unparallel Analyst Support

Our analysts take pride in our clients’ success. Unlike others, we believe in working along our clients to achieve their goals with 24 hours analyst support determining the correct needs and inspire innovation through service.

Banner

Client Testimonials