Benzene Market – Growth, Trends, and Forecast (2020 - 2025)

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)

Market Snapshot

Study Period:

2016-2024

Base Year:

2019

Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

CAGR:

4 %

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Market Overview

The market for benzene is expected to expand at a CAGR of more than 4% during the forecast period. Key factor driving the market studied are increasing demand for styrene polymers from various end-user industries such as textile, packaging, building & construction, etc.

  • Detrimental effects of benzene exposure is likely to hinder the growth of the market studied.

  • Downstream expansion is likely to act as an opportunity in the future.

Scope of the Report

The benzene market report includes:

By Derivative
Ethylbenzene
Cumene
Alkylbenzene
Aniline
Chlorobenzene
Cyclohexane
Maleic Anhydride
Other Derivatives
Geography
Asia-Pacific
China
India
Japan
South Korea
Australia & New Zealand
Rest of Asia-Pacific
North America
United States
Canada
Mexico
Rest of North America
Europe
Germany
United Kingdom
Italy
France
Russia
Rest of Europe
South America
Brazil
Argentina
Rest of South America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

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Key Market Trends

Increasing Demand for Ethylbenzene

  • Ethyl benzene is a highly-inflammable colorless liquid with an aromatic odor. It is majorly used in the manufacturing of styrene.

  • 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.

  • 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.

  • The demand for styrene is continuously growing in the Middle East and Asia-Pacific, owing to increased demand for rubber tires in both regions.

  • Apart from styrene, ethyl benzene is also used as a solvent in fuels and as an intermediate for other chemical applications. These applications are likely to support the demand for and growth of ethyl benzene.

  • 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.

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Asia-Pacific Region to Dominate the Market

  • Asia-pacific presently leads the consumption of benzene with around 50% share of global consumption.

  • 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 growth of these end-user industries, especially in emerging markets, like China, India is propelling the growth of styrene, which in turn is responsible for growth in usage of Benzene, as it is one of the key raw materials for styrene production.

  • 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.

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Competitive Landscape

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.

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Table Of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Drivers

      1. 4.1.1 Increasing Demand for Styrene Polymers from Various End-user Industries

      2. 4.1.2 Increasing Demand for Polyester

    2. 4.2 Restraints

      1. 4.2.1 Detrimental Effects of Benzene Exposure

      2. 4.2.2 Other Restraints

    3. 4.3 Industry Value Chain Analysis

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition

    5. 4.5 Feedstock Analysis and Trends

    6. 4.6 Technological Snapshot

    7. 4.7 Trade Analysis

    8. 4.8 Price Trends

    9. 4.9 Supply Scenario

    10. 4.10 Upcoming Projects

    11. 4.11 Regulatory Policy Analysis

  5. 5. MARKET SEGMENTATION

    1. 5.1 By Derivative

      1. 5.1.1 Ethylbenzene

      2. 5.1.2 Cumene

      3. 5.1.3 Alkylbenzene

      4. 5.1.4 Aniline

      5. 5.1.5 Chlorobenzene

      6. 5.1.6 Cyclohexane

      7. 5.1.7 Maleic Anhydride

      8. 5.1.8 Other Derivatives

    2. 5.2 Geography

      1. 5.2.1 Asia-Pacific

        1. 5.2.1.1 China

        2. 5.2.1.2 India

        3. 5.2.1.3 Japan

        4. 5.2.1.4 South Korea

        5. 5.2.1.5 Australia & New Zealand

        6. 5.2.1.6 Rest of Asia-Pacific

      2. 5.2.2 North America

        1. 5.2.2.1 United States

        2. 5.2.2.2 Canada

        3. 5.2.2.3 Mexico

        4. 5.2.2.4 Rest of North America

      3. 5.2.3 Europe

        1. 5.2.3.1 Germany

        2. 5.2.3.2 United Kingdom

        3. 5.2.3.3 Italy

        4. 5.2.3.4 France

        5. 5.2.3.5 Russia

        6. 5.2.3.6 Rest of Europe

      4. 5.2.4 South America

        1. 5.2.4.1 Brazil

        2. 5.2.4.2 Argentina

        3. 5.2.4.3 Rest of South America

      5. 5.2.5 Middle East & Africa

        1. 5.2.5.1 Saudi Arabia

        2. 5.2.5.2 South Africa

        3. 5.2.5.3 Rest of Middle East & Africa

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 BASF SE

      2. 6.4.2 Braskem

      3. 6.4.3 Chevron Phillips Chemical Company

      4. 6.4.4 China Petrochemical Corporation

      5. 6.4.5 CPC Corporation Limited

      6. 6.4.6 Eastman Chemical Company

      7. 6.4.7 Exxon Mobil Corporation

      8. 6.4.8 Flint Hills Resources

      9. 6.4.9 INEOS

      10. 6.4.10 JXTG Nippon Oil & Energy Corporation

      11. 6.4.11 LG Chem

      12. 6.4.12 LyondellBasell Industries Holdings BV

      13. 6.4.13 Marathon Petroleum Company

      14. 6.4.14 Maruzen Petrochemical

      15. 6.4.15 Mitsubishi Chemical Corporation

      16. 6.4.16 Reliance Industries Limited

      17. 6.4.17 Royal Dutch Shell PLC

      18. 6.4.18 SABIC

      19. 6.4.19 SK global chemical Co. Ltd

  7. *List Not Exhaustive
  8. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

    1. 7.1 Downstream Expansion

    2. 7.2 Others

** Subject to Availability

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