Global Benzene Market (2021-2026) by Derivative, Application, Manufacturing Process, Geography, Competitive Analysis and the Impact of Covid-19 with Ansoff Analysis

The Global Benzene Market is estimated to be USD 75.3 Bn in 2021 and is expected to reach USD 97.02 Bn by 2026, growing at a CAGR of 5.2%.

Market Dynamics

Automotive, industrial units have a high demand for goods like nylon tires, injection-molded vehicle parts, foam seating, and coatings that are produced from benzene-derived mediates like nylon, styrene, and phenol resins. Furthermore, the need for medications like paracetamol, which utilizes benzene-derived mediates such as chlorobenzene, has increased in the present-day situation. This is expected to encourage market growth in the pharmaceutical industry. Moreover, the usage of packaging made up of polystyrene, an intermediate derived from benzene, has surged from food and e-commerce sectors, escalating the market growth.

However, adverse effects of long-term benzene exposure leading to cancer and aplastic anemia are anticipated to hinder the market growth.

Market Segmentation

The Global Benzene Market is segmented further based on Derivative, Application, Manufacturing Process, and Geography.

By Derivative, the market is classified as Alkylbenzene, Chlorobenzene, Cumene, Ethylbenzene, Aniline, Cyclohexane, and Others. Amongst all, the Ethylbenzene segment is estimated to hold the highest market share.

By Application, the market is classified as Synthetic Fibres, Resins, Plastics, Rubber Lubricants, and Others. Amongst all, the Resins segment is estimated to hold the highest market share.

By Manufacturing Process, the market is classified as Pyrolysis Steam Cracking of Naphtha, Catalytic Reforming of Naphtha, Biomass, and Others. Amongst all, the Catalytic Reforming of Naphtha segment is estimated to hold the highest market share.

By Geography, Asia Pacific is projected to lead the market.

Recent Developments

1. Sinopec Corporation had launched its first green hydrogen project, a zero-carbon fuel generated from renewable energy sources, in the Inner Mongolia region in 2022. - 25th May 2021
2. Borealis had launched the Bornewables, a new portfolio of circular polyolefin products. Produced with renewable feedstock derived entirely from waste and residue streams, these premium polyolefins offer the same material performance as virgin polyolefins, yet with a reduced carbon footprint. - 3rd Oct 2020

Company Profiles

Some of the companies covered in this report are BASF, LG Chem, Sinopec, Orpic, Qatar Petroleum, Borealis, etc.

Competitive Quadrant

The report includes Competitive Quadrant, a proprietary tool to analyse and evaluate the position of companies based on their Industry Position score and Market Performance score. The tool uses various factors for categorizing the players into four categories. Some of these factors considered for analysis are financial performance over the last 3 years, growth strategies, innovation score, new product launches, investments, growth in market share, etc.

Why buy this report?

• The report offers a comprehensive evaluation of the Global Benzene Market. The report includes in-depth qualitative analysis, verifiable data from authentic sources, and projections about market size. The projections are calculated using proven research methodologies.
• The report has been compiled through extensive primary and secondary research. The primary research is done through interviews, surveys, and observation of renowned personnel in the industry.
• The report includes an in-depth market analysis using Porter’s 5 forces model and the Ansoff Matrix. In addition, the impact of Covid-19 on the market is also featured in the report.
• The report also includes the regulatory scenario in the industry, which will help you make a well-informed decision. The report discusses major regulatory bodies and major rules and regulations imposed on this sector across various geographies.
• The report also contains the competitive analysis using Positioning Quadrants, the analyst’s Proprietary competitive positioning tool.

Report Highlights:

• A complete analysis of the market, including parent industry
• Important market dynamics and trends
• Market segmentation
• Historical, current, and projected size of the market based on value and volume
• Market shares and strategies of key players
• Recommendations to companies for strengthening their foothold in the market