Global Benzene Market Analysis: Plant Capacity, Location, Production, Operating Efficiency, Demand & Supply, End Use, Sales Channel, Regional Demand, Company Share, Manufacturing Process , Industry Market Size, 2015-2032

Benzene Demand is Anticipated to Grow at a Healthy CAGR of 2.9% During The Forecast Period.

Benzene demand stood at around 54.00 Million Tonnes in 2022 and is forecast to reach 78.50 Million Tonnes by 2032, growing at a healthy CAGR of 3.81% until 2032. Benzene is a colorless organic compound. It is widely used as a chemical intermediate to produce a wide range of chemicals such as ethylbenzene, cumene, cyclohexane, nitrobenzene, linear alkyl benzene, etc. Growing consumption of Benzene derivatives in the automotive industry for manufacturing synthetic rubber has increased Benzene demand in the global market and the product demand is anticipated to increase further due to robust growth in the automotive market. Benzene is majorly being produced by Pygas followed by Naphtha reformate. Elevating demand for Cumene to produce acetone with applications in automotive and architectural industries is also contributing to the growth of the Global Benzene market. Rising demand for rubber processing chemicals, nylon resins, and synthetic fibers is also fascinating the downstream market of Benzene derivatives. Ethylbenzene, one of Benzene's derivatives, finds application in producing styrene and growing demand for styrene-based polymers such as polystyrene, styrene-acrylonitrile reins acrylonitrile butadiene styrene rubber in the disposable medical devices and consumer electronics is also boosting the Benzene market globally.

Being one of the widely used organic compounds in the petrochemical industry, the benzene market suffered a major hit from the global economic recession caused by COVID-19. Significant drops in sales of aromatic products, consumer appliances, fabrics, electronic components, etc. led to a significantly reduced demand for benzene. However, as the world is gradually unwinding, there has been a rise in benzene prices with increased demand from multiple sectors.

Amongst the five regions (Asia-Pacific, Europe, North America, Middle East & Africa, and South America), the Asia Pacific region holds the largest volume share of the global Benzene market. Recently, working from home imposed by the government due to COVID-19 could fall gasoline demand. Moreover, working from home is boosting greater usage of home food delivery, online shopping, electronic devices, and electrical appliances, which will contribute to Benzene's spurring demand during the Forecast period -
Royal Dutch Shell Plc., China National Petroleum Corporation (Sinopec), Saudi Basic Industries Corporation, ExxonMobil Corporation, JX Holdings, Inc., GS Caltex, Haldia Petrochemicals Limited, Reliance Industries Limited, Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, and others, are some of the leading players operating in the Global Benzene market.

Years Considered for this Report:

• Historical Years: 2015 - 2021
• Base Year: 2022
• Estimated Year: 2023
• Forecast Period: 2023 - 2032

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Objective of the Study:

• The primary objective of the study was to evaluate and forecast Benzene capacity, production, demand and demand - supply gap globally.
• To categorize Benzene demand based on end use, region and sales channel.
• To study company shares in Global Benzene market.
• To identify major companies operating in Global Benzene market.
• To identify major news, deals and expansion plans in Global Benzene market.

To extract data for Global Benzene market, primary research surveys were conducted with Benzene manufacturers, suppliers, distributors, wholesalers and end users. While interviewing, the respondents were also inquired about their competitors. Through this technique, the publisher was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, the report analyzes various end user segments and projected a positive outlook for Global Benzene market over the coming years.

The publisher calculated Benzene global demand by analyzing the historical data and demand forecast was carried out considering crude oil prices. The publisher sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as company websites, association reports, annual reports, etc., were also studied by the publisher.

Key Target Audience:

• Benzene manufacturers and other stakeholders
• Organizations, forums and alliances related to Benzene distribution
• Government bodies such as regulating authorities and policy makers
• Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for industry stakeholders, such as Benzene manufacturers, distributors, importers and end users. The report also provides useful insights about which market segments should be targeted over the coming years to strategize investments and capitalize on growth opportunities.

Report Scope:

In this report, the Global Benzene market has been segmented into following categories, in addition to the industry trends which have also been detailed below:

Attribute

Details

• Market size volume in 2022 - 54.00 million tons
• Market size volume in 2032 - 78.50 million tons
• Growth Rate - CAGR of 3.81% from 2023 to 2032
• Base year for estimation - 2023
• Historic Data - 2015 - 2012
• Forecast period - 2024 - 2032
• Quantitative units - Demand in tons and CAGR from 2023 to 2032

Report coverage

Segments covered

• By End Use: (Ethylbenzene, Cumene, Cyclohexane, Nitrobenzene and Others (Linear Alkyl Benzene, Maleic Anhydride etc.)
• By Sales Channel: (Direct Sales & Indirect Sales)

Regional scope

North America; Europe; Asia Pacific; South America; Middle East & Africa
Key companies
Royal Dutch Shell Plc., China National Petroleum Corporation (Sinopec), Saudi Basic Industries Corporation, ExxonMobil Corporation, JX Holdings, Inc., GS Caltex, Haldia Petrochemicals Limited, Reliance Industries Limited, Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited, and others

Available Customisations

With the given market data, the publisher offers customizations according to a company’s specific needs.