Global Benzene and Its Derivatives Market – Industry Trends and Forecast to 2029

Global Benzene and Its Derivatives Market, By Product (Chloro Benzene, Toluene, Nitrobenzene, Cyclohexane, Cumene, Phenol, Ethyel Benzene, Alkyl Benzene, Aniline), Application (Textile, Speciality Chemicals, Building & Construction and Transportation) – Industry Trends and Forecast to 2029.

Benzene and Its Derivatives Market Analysis and Size

Expanding demand for styrene polymers from various end-use industries such as paints and coatings, automobiles, foams, and films is expected to benefit the benzene and derivatives market over the forecast timeframe of 2022- 2029. The exponential growth of the automobile and paints and coatings industries is driving the benzene and derivatives market. Benzene and its derivatives are primarily used as raw materials in producing various chemicals.

Data Bridge Market Research analyses that the benzene and its derivatives market which was growing at a value of 33.96 billion in 2021 and is expected to reach the value of USD 52.51 billion by 2029, at a CAGR of 5.60% during the forecast period.  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 and Its Derivatives Market Scope and Segmentation

Market Definition

Benzene is an aromatic hydrocarbon derived from crude oil via refinery processes. They are primarily used in the petrochemical industry. Alkylbenzene, chlorobenzene, cumene, toluene, ethylbenzene, cyclohexane, aniline, nitrobenzene, and phenol are examples of important benzene derivatives. One of the major benzene derivatives, ethylbenzene, is an important styrene feedstock.

Global Benzene and Its Derivatives Market Dynamics

Drivers

• High demand for styrene's

Ethylbenzene is a colourless liquid with an aromatic odour that is highly flammable. It is primarily used in the manufacture of styrene. Styrene is used to make various products, including polystyrene, acrylonitrile-butadiene-styrene (ABS), SAN resins, and elastomers of styrene-butadiene, latex, and unsaturated polyester resins. Styrene Polymers are used in a variety of products such as televisions, IT equipment, disposable medical products such as test kits, consumer devices such as portable speakers, cassette tapes, and others. In addition to styrene, ethylbenzene is used as a fuel solvent and as an intermediate in other chemical processes. These applications are likely to support and grow the demand for ethyl benzene. The growing number of styrene applications, such as general-purpose polystyrene, EPS, and ABS, are also driving market growth.

• Growing investments

Saudi Arabia's downstream sector investment initiatives are expected to present a significant opportunity for the global benzene and derivatives market. Due to the proximity of raw materials, multinational corporations are investing in the Middle East to reduce overall production costs. As benzene's reliance on crude oil, volatility in crude oil prices is expected to be both a constraint and an opportunity for the global benzene and derivative market. A sudden increase in crude oil prices has a negative impact on raw material prices, while a decrease in crude oil prices helps to expand overall profits.

Opportunities

• Various Applications

Expanding demand for polymers in a variety of end-use industries such as pesticides, cellulose acetate, paints and inks, synthetic rubber, and natural gas recovery may allow the benzene market to expand rapidly. The rise in the growth of the automobile, chemical, and materials sectors provides benzene and its derivatives market with mature and healthy growth, allowing production to be accelerated. Increased demand for foam and films will drive up demand for this market globally.

Restraints

• Strict Regulation

The government's strict rules impede the market's exponential growth, and the price of crude oil in relation to benzene will emerge as a growth constraint. The benzene and derivative industry's main challenge is its reliance on crude oil for production. Additionally, benzene is highly flammable and has a low flashpoint, making it explosive.

This benzene and its derivatives 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 benzene and its derivatives market contact Data Bridge Market Research for an Analyst Brief, our team will help you take 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.

Global Benzene and Its Derivatives Market Scope

The benzene and its derivatives market is segmented on the basis of product and application. The growth amongst these segments will help you analyze meagre 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.

Product

• Chloro Benzene
• Toluene
• Nitrobenzene
• Cyclohexane
• Cumene
• Phenol
• Ethyel Benzene
• Alkyl Benzene
• Aniline

Application

• Textile
• Speciality Chemicals
• Building & Construction
• Transportation

Benzene and Its Derivatives Market Regional Analysis/Insights

The benzene and its derivatives market is analysed and market size insights and trends are provided by country, product and application as referenced above.

The countries covered in the benzene and its derivatives 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, South Africa, Egypt, Israel, 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 held the largest share of the benzene and derivatives market. The continuous expansion of manufacturing facilities in India and China, in combination with affordable labour, to increase the demand for benzene and its derivatives.

The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, 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, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.   

Competitive Landscape and Benzene and Its Derivatives Market Share Analysis

The benzene and its derivatives 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 and its derivatives market.

Some of the major players operating in the benzene and its derivatives market are:

• Thermo Fisher Scientific (U.S.)
• Merck KGaA (U.S.)
• KISHIDA CHEMICAL Co.,Ltd. (Japan)
• Schultz (Canada)
• TCI Chemicals (India) Pvt. Ltd. (Japan)
• J&H CHEM Co., Ltd. (U.S.)
• AA Blocks Inc (U.S.)
• Santa Cruz Biotechnology, Inc. (U.S.)
• Sinfoo Biotech (China)
• Biosynth (U.K.)
• Henan Tianfu Chemical Co., Ltd (China)
• Easchem. (China)
• Jiangsu Zhongneng Chemical Technology Co., Ltd. (China)
• SAGECHEM (China)
• XRchemical (China)
• Syntechem Co.,Ltd (China)
• abcr GmbH (Germany)
• Angene Chemical (India)