Benzene Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, Process, Competition, Trade, Market Analysis, 2030

Format: Online | Last Updated: Nov 2021

[Online Quarterly Update] Benzene demand stood at 52.94 Million Tonnes in 2020 and is forecast to reach 78.03 Million Tonnes by 2030, growing at a healthy CAGR of 3.81% until 2030. 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 – 2019
 Base Year: 2020
 Estimated Year: 2021
 Forecast Period: 2022 – 2030
 
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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 customers of Benzene globally.
 • To evaluate and forecast Benzene pricing in Global Benzene market.
 • To identify and profile 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, ChemAnalyst was able to include manufacturers that could not be identified due to the limitations of secondary research. Moreover, ChemAnalyst analyzed various end user segments and projected a positive outlook for Global Benzene market over the coming years. 
 
ChemAnalyst calculated Benzene global demand by analyzing the historical data and demand forecast was carried out considering crude oil prices. ChemAnalyst 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 ChemAnalyst. 
 
 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 2020
52.94 million tons
Market size volume in 2030
78.03 million tons
Growth Rate
CAGR of 3.81% from 2021 to 2030
Base year for estimation
2020
Historic Data
2015 – 2019
Forecast period
2022 – 2030
Quantitative units
Demand in tons and CAGR from 2021 to 2030
Report coverage
Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends
Segments covered
By End Use: (Ethylbenzene, Cumene, Cyclohexane, Nitrobenzene and Others (Linear Alkyl Benzene, Maleic Anhydride etc.)
By Sales Channel: (Direct/Institutional Sales, Indirect Sales
Regional scope
North America; Europe; Asia Pacific; South America; Middle East & Africa
Country scope
United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina
Key companies profiled
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
Customization scope
Free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needsExplore purchase options
 
Available Customizations:
 
With the given market data, ChemAnalyst offers customizations according to a company’s specific needs. 
 
In case you can’t find what, you are looking for then please get in touch with our custom research team at sales@chemanalyst.com

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