Apart from styrene, ethyl benzene is also used as a solvent in fuels and as an intermediate for other chemical applications. There is an increased demand of styrene-based polymers and copolymers in the automotive industry due to its light weight nature. France Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 17.1. Market Insight Global Benzene Market to Reach 54. Market Definition: Linear alkyl benzene (LAB) is an organic compound that is generally produced as an intermediate while producing surfactants that use in detergent. The global Benzene market is highly competitive in nature in tandem with the high degree of integration across the value chain. Styrene Polymers are used in various products such as televisions, IT equipment, disposable medical products, like test kits, consumer electronics, like portable speakers, cassette tape housing, etc. Asia-pacific presently leads the consumption of benzene with around 50% share of global consumption. Global Linear Alkyl Benzene (LAB) Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX% during the forecast period. According to the report, the global benzene market is projected to grow at a CAGR of 4.5% over the forecast period of 2018-2024. This region is also expected to be the fastest growing market during the forecasted period, with increasing markets for end-users like electronics and home appliances, packaging and construction in China, India, and ASEAN countries. To understand key trends, Download Sample Report. Benzene demand is anticipated to grow at a healthy CAGR of 2.9% during the forecast period. Market Definition: Global Benzene Market Benzene is highly inflammable, toxic and hazardous when exposed to extreme temperatures and pressures. North America Benzene Market Overview, 19.2. Benzene Market Competitive analysis Some of the prominent players operating in the global benzene market are BASF SE (Germany), Ecolab (U.S.), The Dow Chemical Company (U.S.), Arsol Aromatics GmbH & Co. KG (Germany), Exxon Mobil Corporation (U.S.), Royal Dutch Shell plc (the Netherlands), China Petroleum & Chemical Corporation (China), SABIC (Saudi Arabia), BP p.l.c. In October 2019, Saudi Basic Industries Corp (SABIC) completed merger of its wholly owned affiliates Saudi Petrochemical Company (Sadaf) and Arabian Petrochemical Company (Petrokemya). The major players in the global benzene market are Ameriya Oil Ref. Benzene Market Future Outlook and Potential Analysis. Downstream expansion is likely to act as an opportunity in the future. Global Benzene Market, Split By Country, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 6.1. India Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 9.2. It is majorly used in the manufacturing of styrene. (UK), and Repsol … It is a six carbon unsaturated cyclic hydrocarbon with a chemical formula C6H6. The market for benzene is expected to expand at a CAGR of more than 4% during the forecast period. Brazil Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 23.1. Global Benzene Alkylation Catalyst Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread) The Benzene Alkylation Catalyst market is expected to grow from USD X.X million in 2020 to USD X.X million by 2026, at a CAGR of X.X% during the forecast period. Styrene is used in the production of various products, such as polystyrene, acrylonitrile-butadiene-styrene (ABS), styrene-acrylonitrile (SAN) resins, styrene-butadiene elastomers, latexes, and unsaturated polyester resins. benzene is a natural constituent of crude oil and is also one of the elementary petrochemicals. The demand for styrene is continuously growing in the Middle East and Asia-Pacific, owing to increased demand for rubber tires in both regions. The Global Benzene Market will grow by $ 6.10 bn during 2020-2024 The global Benzene market size is projected to reach US$ 90380 million by 2026, from US$ 87160 million in 2020, at a CAGR of 3.4%% during 2021-2026. | Format : The benzene market consists of sales of benzene and related services by entities that produce benzene. Benzene Market- Global Market Growth, Supply & Demand. Indonesia Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 12.1. Russia Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 19.1. The global (Trifluoromethoxy) Benzene market size is projected to reach USD 110200 Million by 2026, from USD 90380 Million in 2020, at a CAGR of 3.4% during 2021-2026.. Major factors driving the growth of Benzene market size are the rising demand for methylene diphenyl diisocyanate (MDI, the increasing demand for benzene as solvents in manufacturing chemicals and plastic products. Eastern Europe Benzene Market Overview, 17.2. Africa Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 25. In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Benzene. Australia Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 11.1. South Korea Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 13.1. Global benzene and its derivatives market is expected to witness strong growth over the forecast period owing to increasing demand in coating & paints and automotive industries. | SKU CODE : UK Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 15.1. All Rights Reserved to Mordor Intelligence. Japan Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 10.1. The report contains data of the base year 2018 and historic year 2017. The global benzene derivative market is segmented on the basis of type, application, and geography. The global Linear Alkyl Benzene market is highly fragmented. Styrene is used in the production of various products, such as styrene-acrylonitrile (SAN), acrylonitrile-butadiene-styrene (ABS), polystyrene, styrene-butadiene elastomers, latexes, unsaturated polyester resins among others. 3 Million Tons by 2027. Thereafter through the year, benzene production was high from paraxylene integrated reformer/TA plants and naphtha cracker operations. Singapore — The global supply tightness that unusually characterized the benzene market in the second half of 2020 is likely to persist into 2021, although demand for the byproduct chemical of aromatics units, crackers and reformers will hinge on the impact of new downstream plant startups in … Key Mergers And Acquisitions In The Benzene Market, 28. 2) By Derivative: Ethylbenzene, Cumene, Alkylbenzene, Aniline, Chlorobenzene, Cyclohexane, Maleic Anhydride, Other Derivatives | Published : Middle East Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 24.2. Global Benzene Scope and Market Size Benzene market is segmented by Type, and by Application. The global benzene market reached a value of nearly $1.5 billion in 2019, having grown at a compound annual growth rate (CAGR) of 3.64% since 2015, and is expected to grow at a CAGR of -3.51% to nearly $1.3 billion by 2023. 4 Million Tons in … USA Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 21.1. Asia-Pacific Benzene Market Overview Â, 6.2. The report is a comprehensive presentation of trends, forecast and dollar values of the global benzene market. Alexandria National Refining and Petrochemicals Company (ANRPC), 26. Benzene is a light, highly flammable, colorless and volatile, liquid aromatic hydrocarbon with a sweet odor. Eastern Europe Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 18.1. New York, Jan. 07, 2020 (GLOBE NEWSWIRE) -- The global benzene market is forecast to reach USD 115.42 Billion by 2027, according to a new report by Reports and Data. Report scope can be customized per your requirements. Global Benzene Market, Segmentation By Manufacturing Process, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 4.2. Starting Price : Global Benzene Market Competitive Landscape. Benzene is … The global benzene market is forecast to reach $ 115.42 billion by 2027, according to a new report by Reports and Data. For instance, the EPA (Environmental Protection Agency) has set the maximum permissible level of benzene in drinking water at 5 ppb (per billion parts of air). Global Benzene Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 5.2. Global Benzene Historic Market, 2015 - 2019, $ Billion, 3.2. These advantages of usage of styrene-based polymers and copolymers especially in automotive industry is expected to contribute to the growth of benzene market. Ethyl benzene is a highly-inflammable colorless liquid with an aromatic odor. Global Benzene and Its Derivatives Market Description: Expanding demand for the polymers, in number of end-use industries such as pesticides, cellulose acetate, paints, and inks, synthetic rubber, and recovery of natural gas may allow the benzene market to grow at a high pace. Some of the key companies in the industry include Sinopec, BASF, China National Petroleum Corporation, Saudi Basic Industries Corporation, Dow DuPont, ExxonMobil Corporation, and Royal Dutch Shell plc. Benzene is used as an intermediary chemical in the manufacture of plastics, resin, nylons and synthetic fibers. Global Market for Benzene - Demand is Anticipated to Grow at a Healthy CAGR of 2.9% to 2030 - ResearchAndMarkets.com May 21, 2020 05:49 AM Eastern Daylight Time The market is segmented by Derivative (Ethylbenzene, Cumene, Alkylbenzene, Aniline, Chlorobenzene, Cyclohexane, Maleic Anhydride, and Other Derivatives) and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa). Global benzene market is expected to rise to an estimated value of USD 111.1 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. February 2020 This region is also expected to be the fastest growing market during the forecasted period, with increasing markets for end-users like electronics and home appliances, packaging and construction in China, India, and ASEAN countries. The benzene market is consolidated, and the key players include BASF SE, Chevron Phillips Chemical Company, Exxon Mobil Corporation, LG Chem, Royal Dutch Shell PLC, etc. It constitutes of large number of market players globally. Western Europe Benzene Market Overview, 13.2. The global benzene market demand has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Western Europe Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 14.2. Global Benzene market size will increase to xx Million US$ by 2025, from xx Million US$ in 2018, at a CAGR of xx% during the forecast period. Benzene Market Regional And Country Analysis, 5.1. Stringent safety regulations associated with the manufacturing and transportation of benzene was a major restraint on the market. Global Benzene Market, Segmentation By Derivative, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 4.3. © 2020. This deal will transfer Sadaf’s assets, rights, liabilities, and obligations to Petrokemya and increase efficiency of SABIC’s operations. Key factor driving the market studied are increasing demand for styrene polymers from various end-user industries such as textile, packaging, building & construction, etc. Growing consumption of Benzene derivatives in the automotive industry for manufacturing synthetic rubber has increased Benzene demand in the global market and demand is anticipated to increase further due to robust growth in the automotive market. 7332 Benzene Market – Growth, Trends, and Forecast (2020 - 2025), Linear Alkyl Benzene (LAB) Market - Growth, Trends, and Forecast (2020 - 2025), Ethylbenzene Market - Growth, Trends, and Forecast (2020 - 2025), Nitrobenzene Market – Growth, Trends, and Forecast (2020 - 2025). The global Benzene market is expected to reach 53,432.9 kilotons by 2018, signifying a firm annualized growth rate of over 3.8%. 4.1.1 Increasing Demand for Styrene Polymers from Various End-user Industries, 4.2.1 Detrimental Effects of Benzene Exposure, 4.4.4 Threat of Substitute Products and Services, 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements, 6.3 Strategies Adopted by Leading Players, 6.4.10 JXTG Nippon Oil & Energy Corporation, 6.4.12 LyondellBasell Industries Holdings BV, 7. Benzene Market Competitive Landscape And Company Profiles, 25.1. They are mainly consumed by petrochemical industries. China Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,$ Billion, 8.2. For instance, in June 2016, Reliance Industries Limited entered into a joint venture with the Indian Institute of Petroleum (IIP), Dehradun, to develop a technology which restricts benzene content in the gasoline pool to address the health and environmental concerns. yngenta And Bayer AG Are Global Leaders In The Consolidated Pesticides Market, The Impact Of Economic Growth On The Global Methanol Market, Growth Of End-User Industries And Green Innovations Will Drive The Polyurethane Market To Be The Largest Segment Of The Plastic Materials And Resins Market, Economic Growth And Growing World Populations Will Drive The Pesticides Market Growth, Pressure Swing Adsorption Technology For On-Site Nitrogen And Oxygen Production, Changing Farming Practices In The UK’s Pesticides Market, The Demand For Synthetic Dyes And Pigments From End-User Industries Is Rapidly Increasing, Nitrogen’s Many Uses In Established Industries Helps It Lead The Global Industrial Gas Market, Paper, Plastics, Rubber, Wood And Textile. Europe market was valued at US$ XX.X million in 2018 and is projected to reach US$ XX.X million in 2029, and register a CAGR of X.X% during the forecast period, according to a new Market.us (Prudour Research) study. Expanding demand of styrene polymers from a number of end-use industries such as paints and coatings, automobiles, foams, and films is expected to continue to bode well for benzene and its derivatives market over the 2020- 2030 forecast timeframe. The major players in the global Linear Alkyl Benzene market are Sasol Limited, CEPSA Quimica S.A., Huntsman Corporation, Ho Tung Chemical Corp., Reliance Industries Limited, among others. These applications are likely to support the demand for and growth of ethyl benzene. Asia Pacific was the largest region in the benzene market in 2019. North America Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 20.2. Petrokemya is a Saudi Arabian company that produces feedstock chemicals including propylene, ethylene, butene, benzene and butadiene. Global Benzene Market Trends: One of the major factors contributing to the market growth is the increasing demand for ethylbenzene from a vast array of industries. Global Benzene Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion, 4.1. Benzene is manufactured primarily as a coproduct. Thus, the rising demand for various products from various end-user industries is expected to drive the market in the country, during the forecast period. For instance, according to the American Chemistry Council (ACC), the fuel economy of a vehicle can improve by 6-8% by reducing the weight of a vehicle by 10%. We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination. Benzene is an aromatic hydrocarbon that is extracted from crude oil through refinery processes. The reports on the benzene market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors. The Benzene market, along with its various derivatives, has witnessed a significant growth in the recent years and this growth is estimated to persist in the coming years. 1) By Manufacturing Process: Pyrolysis Steam Cracking of Naphtha, Catalytic Reforming of Naphtha, Toluene Hydrodealkylation, Toluene Disproportionation, From Biomass South America Benzene Market Overview, 21.2. The “Global Benzene Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market. Usage of plastics like styrene can reduce the weight of vehicles, thereby improving fuel economy. South America Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 22.1. Detrimental effects of benzene exposure is likely to hinder the growth of the market studied. Companies in this market should invest in equipment, technologies and processes to limit the toxic levels and chemical concentrations as it may harm the environment and population. It is also anticipated to be the fastest growing market due to increasing demand from end users such as packaging, construction, and electronics & home appliances, which in turn increases the demand for …  Humans, when exposed to benzene in air for a certain amount of time lose their life. Click here. The report will be delivered in 2-3 business days. The benzene market was strong in the first quarter of 2018, with the benzene to naphtha spread exceeding $300 per mt. Co., Angarsk Petrochemical, Alexandria National Refining and Petrochemicals Company (ANRPC), Arsol Aromatics GmbH & Co. KG , Atyrau Oil & Gas, Azerkhimija, BASF SE, Borealis AG , Bp Plc and Braskem. Ethylbenzene, a derivative of benzene, is extensively utilized for the production of styrene that is used to manufacture polystyrene plastics and resins. 150 The global benzene market is expected to witness a CAGR of approximately 4.3% during the forecasted period, majorly driven by growing usage of synthetic polymers, such as polyester and polystyrene in the end-user industries, such as textile, packaging, building & construction, and electrical & electronics. Benzene and its Derivatives Market - Overview. The global benzene market reached a value of nearly $1.5 billion in 2019, having grown at a compound annual growth rate (CAGR) of 3.64% since 2015, and is expected to grow at a CAGR of -3.51% to nearly $1.3 billion by 2023. To understand geography trends, Download Sample Report. Asia-Pacific Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 7.2. Amid the COVID-19 crisis, the global market for Benzene estimated at 48. The global benzene market has been studied across five key regions, namely, Asia-Pacific, North America, Latin America, Europe, and the Middle East & Africa. Want to procure Price Intelligence Data to help your decision making? The countries covered in the global benzene market report are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia, The Global Benzene Market is segmented: The technologies developed are expected to help curb the environmental issues. The increased use of styrene to drive benzene market. The benzene’s derivate ethyl benzene is majorly used in the manufacturing of styrene. Global Benzene Market 2020-2024 The author has been monitoring the benzene market and it is poised to grow by $ 6.10 bn during 2020-2024 progressing at a CAGR of 3% during the forecast period. 3) By Application: Plastics, Resins, Synthetic Fibers, Rubber Lubricants, 3.1. The "Global Benzene Market Size Forecast to 2028 - Trends, Analysis and Outlook by Intermediate Product, and Geography" report has been added to ResearchAndMarkets.com's offering. These regulations have increased the operating costs of companies in this industry, thus restricting the growth of the market. The increasing number of applications of styrene, such as in general-purpose polystyrene, EPS, and ABS, have also contributed to the positive trend that is expected to continue. Currently, Asia-Pacific is leader in the consumption of benzene. Benzene Global Market Report 2020 is one of a series of new reports from The Business Research Company that provide Benzene market overviews, analyze and forecast market size and growth for the whole market, Benzene market segments and geographies, Benzene market trends, Benzene market geographies. Germany Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 16.3. 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