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

  • ID: 4515082
  • Report
  • January 2020
  • Region: Global
  • 120 pages
  • Mordor Intelligence
until Sep 30th 2021


  • Braskem
  • CPC Corporation Limited
  • Eastman Chemical Company
  • Exxon Mobil Corporation
  • Flint Hills Resources
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.
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.
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.
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.

Reasons to Purchase this report:
  • The market estimate (ME) sheet in Excel format.
  • Report customization as per the client's requirements.
  • 3 months of analyst support.

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Note: Product cover images may vary from those shown


  • Braskem
  • CPC Corporation Limited
  • Eastman Chemical Company
  • Exxon Mobil Corporation
  • Flint Hills Resources
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study



4.1 Drivers
4.1.1 Increasing Demand for Styrene Polymers from Various End-user Industries
4.1.2 Increasing Demand for Polyester
4.2 Restraints
4.2.1 Detrimental Effects of Benzene Exposure
4.2.2 Other Restraints
4.3 Industry Value Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Consumers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
4.5 Feedstock Analysis and Trends
4.6 Technological Snapshot
4.7 Trade Analysis
4.8 Price Trends
4.9 Supply Scenario
4.10 Upcoming Projects
4.11 Regulatory Policy Analysis

5.1 By Derivative
5.1.1 Ethylbenzene
5.1.2 Cumene
5.1.3 Alkylbenzene
5.1.4 Aniline
5.1.5 Chlorobenzene
5.1.6 Cyclohexane
5.1.7 Maleic Anhydride
5.1.8 Other Derivatives
5.2 Geography
5.2.1 Asia-Pacific China India Japan South Korea Australia & New Zealand Rest of Asia-Pacific
5.2.2 North America United States Canada Mexico Rest of North America
5.2.3 Europe Germany United Kingdom Italy France Russia Rest of Europe
5.2.4 South America Brazil Argentina Rest of South America
5.2.5 Middle East & Africa Saudi Arabia South Africa Rest of Middle East & Africa

6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share Analysis**
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 BASF SE
6.4.2 Braskem
6.4.3 Chevron Phillips Chemical Company
6.4.4 China Petrochemical Corporation
6.4.5 CPC Corporation Limited
6.4.6 Eastman Chemical Company
6.4.7 Exxon Mobil Corporation
6.4.8 Flint Hills Resources
6.4.9 INEOS
6.4.10 JXTG Nippon Oil & Energy Corporation
6.4.11 LG Chem
6.4.12 LyondellBasell Industries Holdings BV
6.4.13 Marathon Petroleum Company
6.4.14 Maruzen Petrochemical
6.4.15 Mitsubishi Chemical Corporation
6.4.16 Reliance Industries Limited
6.4.17 Royal Dutch Shell PLC
6.4.18 SABIC
6.4.19 SK global chemical Co. Ltd

7.1 Downstream Expansion
7.2 Others
Note: Product cover images may vary from those shown

A selection of companies mentioned in this report includes:

  • Braskem
  • Chevron Phillips Chemical Company
  • China Petrochemical Corporation
  • CPC Corporation Limited
  • Eastman Chemical Company
  • Exxon Mobil Corporation
  • Flint Hills Resources
  • JXTG Nippon Oil & Energy Corporation
  • LG Chem
  • LyondellBasell Industries Holdings BV
  • Marathon Petroleum Company
  • Maruzen Petrochemical
  • Mitsubishi Chemical Corporation
  • Reliance Industries Limited
  • Royal Dutch Shell PLC
  • SK global chemical Co. Ltd
Note: Product cover images may vary from those shown