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Benzene Market Analysis, Share, Industry, Opportunities 2031
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Benzene Market Analysis, Share, Industry, Opportunities 2031

Segments - Benzene Market by Types (Ethyl benzene, Cumene, Cyclohexane, Nitrobenzene, and Alkyl benzene), Applications (Electrical and electronics, Building and construction, Automotive, and Textile), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031.

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Author : Riddhesh Dani
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Fact-checked by : Harneet Meher
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Editor : Shruti Bhat

Upcoming | Report ID :MC-747 | 4.6 Rating | 77 Reviews | 147 Pages | Format : PDF Excel PPT

Report Description


Benzene Market Outlook 2031

The global benzene market size was valued at USD 98.78 Billion in 2022 and is likely reach to USD 139.38 Billion by 2031, expanding at a CAGR of 3.9% during the forecast period, 2023–2031. The growth of the market is attributed to increasing demand for steric polymers and phenols in plastic and resin processing industries.

Benzene is a natural compound with the chemical equation C6H6, an aromatic hydrocarbon it is removed from unrefined petroleum through refinery measure or acquired as a side-effect in steam saltines and refineries It is a flammable dull fluid which has sweet smell and is abundantly accessible in nature. Benzene is generally utilized in petrochemical businesses to incorporate its subsidiaries, which have a few applications in polymers, synthetics, and agrarian.

Benzene Market Outlook

Benzene is a natural compound with a gas like scent incorporates different properties of benzene such as high combustibility and plentiful accessibility in nature. It tends to be extracted from the unrefined by processing plant or fabricated as a bi-substance in treatment facilities and steam saltines. Its inescapable use among different end-use businesses has been the major factor driving the development of the worldwide benzene market.

  • Increasing demand for phenol and steric polymers in plastic and pitch preparing ventures are estimated to boost the market during the forecast period.
  • Rapid growth of the chemical industry due to availability of raw materials in abundance is the key factors anticipated to fuel the market in the coming years.
  • Increasing demand for pharmaceutical products globally is driving the market during the forecast period.
  • High cost of product is projected to hamper the market growth.
  • Lack of skilled labor act as major factor that can restrict the market growth during the forecast period.
  • R&D investment and technological advancement is expected to reduce the environmental hazardous, this in turn is projected to boost the market.
  •  Increasing demand has resulted in several benzene plants worldwide, which are estimated to provide immense growth opportunities for the market players.

Scope of Benzene Market Report

The report on the global benzene market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Benzene Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2022

Historic Data

2016–2021

Forecast Period

2023–2031

Segmentation

Types (Ethyl benzene, Alkyl benzene, Cumene, Cyclohexane, and Nitrobenzene) and Applications (Electrical and electronics, Building and construction, Textile, and Automotive)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Sinopec, Exxon Mobil, Shell, DowDuPont, JXTG, Total, SABIC, BASF, CNPC, and BP

Benzene Market Segment Insights

The cumene segment is projected to hold a major market share

Based on types, the benzene market is fragmented into ethylbenzne, cumene, cyclohexane, nitrobenzene, and alkylbenzene. The cumene segment is expected to hold a key share of the market during the forecast period due to growing demand of phenol and acetone chemicals.

However the segment is anticipated to expand at a rapid pace during the forecast period due to increasing demand of chemicals in production of plastics and also used in minor amounts as a solvent to manufacture paints, lacquers, and enamels.

Benzene Market Types

The automotive segment is expected to hold a major market share

Based on applications, the benzene market is segregated into building and construction, electrical and electronics, textile, and automotive. Increased utilization of styrene is expected to drive the benzene market. There is an expanded interest of styrene-based polymers and copolymers in the car business because of its light weight nature. For example, according to American Chemistry Council (ACC), the efficiency of a vehicle can improve by 6-8% by lessening the heaviness of a vehicle by 10%.

Utilization of plastics like styrene can lessen the heaviness of vehicles, consequently improving mileage. The use of styrene has additionally profited producers by diminishing vehicle assembly time and expenses. These benefits of use of styrene-based polymers and copolymers particularly in car industry are required to add to the development of benzene market.

Benzene Market Applications

Benzene Market Regional Outlook

Asia Pacific is expected to dominate the market

On the basis of regions, the benzene market is categorized as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. The market in Asia Pacific is anticipated to hold major market share during the forecast period. The regional market growth can be attributed to expand at a high CAGR because of increase in demand for oil and flammable gas and development of polymer enterprises.

China is expected to hold the top rank in producing and consuming benzene with a CAGR of 7.8% in coming years, owing to increase in living standards in the regions with rise in demand for everyday comforts and expanded interest for plastics in the automotive industries. Likewise, usage of polyurethane froths in the bedding has increased, prompting the high utilization of benzene in the region.

Benzene Market Region

Segments

Types

  • Ethyl benzene  
  • Nitrobenzene
  • Cumene
  • Alkyl benzene
  • Cyclohexane

Applications

  • Automotive
  • Electrical and electronics
  • Building and construction
  • Textile
  • Others

Regions

  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa

Key Players

  • Shell
  • JXTG
  • BP
  • BASF
  • Exxon Mobil
  • Sinopec
  • Total
  • SABIC
  • DowDuPont
  • CNPC

Competitive Landscape

Key players competing in the benzene market are Exxon Mobil Corp., Sinopec, Shell, JXTG, BP, BASF, Total, SABIC, DowDuPont, and CNPC Some of these players have developed business strategies including mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.

For instance, In December, 1998 Exxon and Mobil were merged and was called Exxon Mobil Corp. Additionally, In April, 2017 JXHD and Tonen General Sekiyu K.K were merged. And In February, 2016 Shell acquired BG Group for USD 70 billion.

 Benzene Market Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Benzene Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Benzene Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Benzene Market - Supply Chain
  4.5. Global Benzene Market Forecast
     4.5.1. Benzene Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Benzene Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Benzene Market Absolute $ Opportunity
5. Global Benzene Market Analysis and Forecast by Types
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Types
     5.2.2. Y-o-Y Growth Projections by Types
  5.3. Benzene Market Size and Volume Forecast by Types
     5.3.1. Ethyl benzene          
     5.3.2. Nitrobenzene
     5.3.3. Cumene
     5.3.4. Alkyl benzene
     5.3.5. Cyclohexane
  5.4. Absolute $ Opportunity Assessment by Types
  5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Benzene Market Analysis and Forecast by Applications
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Applications
     6.2.2. Y-o-Y Growth Projections by Applications
  6.3. Benzene Market Size and Volume Forecast by Applications
     6.3.1. Automotive
     6.3.2. Electrical and electronics
     6.3.3. Building and construction
     6.3.4. Textile
     6.3.5. Others
  6.4. Absolute $ Opportunity Assessment by Applications
  6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Benzene Market Analysis and Forecast by Region
  7.1. Market Trends
  7.2. Introduction
     7.2.1. Basis Point Share (BPS) Analysis by Region
     7.2.2. Y-o-Y Growth Projections by Region
  7.3. Benzene Market Size and Volume Forecast by Region
     7.3.1. North America
     7.3.2. Latin America
     7.3.3. Europe
     7.3.4. Asia Pacific
     7.3.5. Middle East and Africa (MEA)
  7.4. Absolute $ Opportunity Assessment by Region
  7.5. Market Attractiveness/Growth Potential Analysis by Region
  7.6. Global Benzene Demand Share Forecast, 2019-2026
8. North America Benzene Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
  8.2. North America Benzene Market Size and Volume Forecast by Country
     8.2.1. U.S.
     8.2.2. Canada
  8.3. Absolute $ Opportunity Assessment by Country
  8.4. North America Benzene Market Size and Volume Forecast by Types
     8.4.1. Ethyl benzene          
     8.4.2. Nitrobenzene
     8.4.3. Cumene
     8.4.4. Alkyl benzene
     8.4.5. Cyclohexane
  8.5. Basis Point Share (BPS) Analysis by Types
  8.6. Y-o-Y Growth Projections by Types
  8.7. North America Benzene Market Size and Volume Forecast by Applications
     8.7.1. Automotive
     8.7.2. Electrical and electronics
     8.7.3. Building and construction
     8.7.4. Textile
     8.7.5. Others
  8.8. Basis Point Share (BPS) Analysis by Applications
  8.9. Y-o-Y Growth Projections by Applications
  8.10. Market Attractiveness/Growth Potential Analysis
     8.10.1. By Country
     8.10.2. By Product Type
     8.10.3. By Application
  8.11. North America Benzene Demand Share Forecast, 2019-2026
9. Latin America Benzene Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Latin America Average Pricing Analysis
  9.2. Latin America Benzene Market Size and Volume Forecast by Country
      9.2.1. Brazil
      9.2.2. Mexico
      9.2.3. Rest of Latin America
   9.3. Absolute $ Opportunity Assessment by Country
  9.4. Latin America Benzene Market Size and Volume Forecast by Types
     9.4.1. Ethyl benzene          
     9.4.2. Nitrobenzene
     9.4.3. Cumene
     9.4.4. Alkyl benzene
     9.4.5. Cyclohexane
  9.5. Basis Point Share (BPS) Analysis by Types
  9.6. Y-o-Y Growth Projections by Types
  9.7. Latin America Benzene Market Size and Volume Forecast by Applications
     9.7.1. Automotive
     9.7.2. Electrical and electronics
     9.7.3. Building and construction
     9.7.4. Textile
     9.7.5. Others
  9.8. Basis Point Share (BPS) Analysis by Applications
  9.9. Y-o-Y Growth Projections by Applications
  9.10. Market Attractiveness/Growth Potential Analysis
     9.10.1. By Country
     9.10.2. By Product Type
     9.10.3. By Application
  9.11. Latin America Benzene Demand Share Forecast, 2019-2026
10. Europe Benzene Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Europe Average Pricing Analysis
  10.2. Europe Benzene Market Size and Volume Forecast by Country
     10.2.1. Germany
     10.2.2. France
     10.2.3. Italy
     10.2.4. U.K.
     10.2.5. Spain
     10.2.6. Russia
     10.2.7. Rest of Europe
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Europe Benzene Market Size and Volume Forecast by Types
     10.4.1. Ethyl benzene          
     10.4.2. Nitrobenzene
     10.4.3. Cumene
     10.4.4. Alkyl benzene
     10.4.5. Cyclohexane
  10.5. Basis Point Share (BPS) Analysis by Types
  10.6. Y-o-Y Growth Projections by Types
  10.7. Europe Benzene Market Size and Volume Forecast by Applications
     10.7.1. Automotive
     10.7.2. Electrical and electronics
     10.7.3. Building and construction
     10.7.4. Textile
     10.7.5. Others
  10.8. Basis Point Share (BPS) Analysis by Applications
  10.9. Y-o-Y Growth Projections by Applications
  10.10. Market Attractiveness/Growth Potential Analysis
     10.10.1. By Country
     10.10.2. By Product Type
     10.10.3. By Application
  10.11. Europe Benzene Demand Share Forecast, 2019-2026
11. Asia Pacific Benzene Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Asia Pacific Average Pricing Analysis
  11.2. Asia Pacific Benzene Market Size and Volume Forecast by Country
     11.2.1. China
     11.2.2. Japan
     11.2.3. South Korea
     11.2.4. India
     11.2.5. Australia
     11.2.6. Rest of Asia Pacific (APAC)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Asia Pacific Benzene Market Size and Volume Forecast by Types
     11.4.1. Ethyl benzene          
     11.4.2. Nitrobenzene
     11.4.3. Cumene
     11.4.4. Alkyl benzene
     11.4.5. Cyclohexane
  11.5. Basis Point Share (BPS) Analysis by Types
  11.6. Y-o-Y Growth Projections by Types
  11.7. Asia Pacific Benzene Market Size and Volume Forecast by Applications
     11.7.1. Automotive
     11.7.2. Electrical and electronics
     11.7.3. Building and construction
     11.7.4. Textile
     11.7.5. Others
  11.8. Basis Point Share (BPS) Analysis by Applications
  11.9. Y-o-Y Growth Projections by Applications
  11.10. Market Attractiveness/Growth Potential Analysis
     11.10.1. By Country
     11.10.2. By Product Type
     11.10.3. By Application
  11.11. Asia Pacific Benzene Demand Share Forecast, 2019-2026
12. Middle East & Africa Benzene Market Analysis and Forecast
  12.1. Introduction
     12.1.1. Basis Point Share (BPS) Analysis by Country
     12.1.2. Y-o-Y Growth Projections by Country
     12.1.3. Middle East & Africa Average Pricing Analysis
  12.2. Middle East & Africa Benzene Market Size and Volume Forecast by Country
     12.2.1. Saudi Arabia
     12.2.2. South Africa
     12.2.3. UAE
     12.2.4. Rest of Middle East & Africa (MEA)
  12.3. Absolute $ Opportunity Assessment by Country
  12.4. Middle East & Africa Benzene Market Size and Volume Forecast by Types
     12.4.1. Ethyl benzene          
     12.4.2. Nitrobenzene
     12.4.3. Cumene
     12.4.4. Alkyl benzene
     12.4.5. Cyclohexane
  12.5. Basis Point Share (BPS) Analysis by Types
  12.6. Y-o-Y Growth Projections by Types
  12.7. Middle East & Africa Benzene Market Size and Volume Forecast by Applications
     12.7.1. Automotive
     12.7.2. Electrical and electronics
     12.7.3. Building and construction
     12.7.4. Textile
     12.7.5. Others
  12.8. Basis Point Share (BPS) Analysis by Applications
  12.9. Y-o-Y Growth Projections by Applications
  12.10. Market Attractiveness/Growth Potential Analysis
     12.10.1. By Country
     12.10.2. By Product Type
     12.10.3. By Application
  12.11. Middle East & Africa Benzene Demand Share Forecast, 2019-2026
13. Competition Landscape
  13.1. Global Benzene Market: Market Share Analysis
  13.2. Benzene Distributors and Customers
  13.3. Benzene Market: Competitive Dashboard
  13.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     13.4.1. Shell
     13.4.2. JXTG
     13.4.3. BP
     13.4.4. BASF
     13.4.5. Exxon Mobil
     13.4.6. Sinopec
     13.4.7. Total
     13.4.8. SABIC
     13.4.9. DowDuPont
     13.4.10. CNPC

Methodology

Our Clients

Pfizer
General Electric
Dassault Aviation
Deloitte
Nestle SA
Siemens Healthcare
sinopec
Honda Motor Co. Ltd.