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), Country (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) Industry Trends and Forecast to 2028.
Market Analysis and Insights : Global Benzene Market
Benzene market will grow at a rate of 2.59% for the forecast period of 2021 to 2028. Rise in the demand for styrene polymers from various end-user industries acts as a vital factor driving the growth of benzene market.
Benzene is defined as a highly flammable, colourless, sweet smelling aromatic hydrocarbon and a ware petrochemical industrial solvent. It has a tendency to evaporate rapidly on being exposed to air and is a petrochemical product which has various subsidiaries such as aniline, alkyl benzene, cumene, cyclohexane, chlorobenzene, ethyl benzene, nitrobenzene, phenol among others. It is used in numerous sectors such as consumer products, electrical & electronics, transportation, constructions, and medical and is also used as a solvent in large range of commercial and economical industries.
Rise in the demand for polyester is the vital factor escalating the market growth, also increase in the crude oil production, low cost of the feedstock and economical commodity product, rise in the demand In the Asia-Pacific, increase in the phenol consumption and rise in the demand of methylene diphenyl diisocyanate are the major factors among others driving the benzene market. Moreover, rise in the investments In Saudi Arabia downstream sector and rise in the research and development activities in the market will further create new opportunities for the benzene market in the forecast period of 2021- 2028.
However, detrimental effects of benzene exposure and volatility in the price of crude oil are the major factor among others acting as restraints, and will further challenge the growth of benzene market in the forecast period mentioned above.
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 localised 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, geographical expansions, technological innovations in the market. To gain more info on benzene market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Benzene Market Scope and Market Size
Benzene market is segmented on the basis of derivative and end-use industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- Based on derivative, the benzene market is segmented into alkyl benzene, cumene, cyclohexane, ethyl benzene, nitro benzene and others.
- The benzene market is also segmented on the basis of end-use industry into construction, transportation, medical, pulp and paper, automobile industries, packaging and textile.
Benzene Market Country Level Analysis
Benzene market is analysed and market size, volume information is provided by country, derivative and end-use industry as referenced above.
The countries covered in the benzene market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the benzene market due to increase in the crude oil production and low cost of the feedstock and economical commodity product in this region. North America is the expected region in terms of growth in benzene market due to increase in the demand for polyester, increase in the crude oil production and low cost of the feedstock and economical commodity product in this region.
The country section of the benzene market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Benzene Market Share Analysis
Benzene market competitive landscape provides details by competitor. 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 benzene market.
The major players covered in the benzene market report are China National Petroleum Corporation, Haldia Petrochemicals Limited, PTT Global Chemical Public Company Limited, Indian Oil Corporation Ltd, NAFTPRO Petroleum Products, GS Caltex Corporation, Dow, Reliance Industries Limited, SABIC, Royal Dutch Shell Plc, Repsol, Arsol Aromatics GmbH & Co. KG, BASF SE and ExxonMobil Corporation among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.