Click here. The global benzene market is forecast to reach $ 115.42 billion by 2027, according to a new report by Reports and Data. The market for benzene is expected to expand at a CAGR of more than 4% during the forecast period. Global Benzene Market, Segmentation By Manufacturing Process, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 4.2. Russia Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 19.1. To understand geography trends, Download Sample Report. The benzene’s derivate ethyl benzene is majorly used in the manufacturing of styrene. China Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,$ Billion, 8.2. Global Linear Alkyl Benzene (LAB) Market was valued US$ XX Bn in 2018 and is expected to reach US$ XX Bn by 2026, at a CAGR of XX% during the forecast period. The countries covered in the global benzene market report are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, Australia, The Global Benzene Market is segmented: South America Benzene Market Overview, 21.2. This deal will transfer Sadaf’s assets, rights, liabilities, and obligations to Petrokemya and increase efficiency of SABIC’s operations. MARKET OPPORTUNITIES AND FUTURE TRENDS, Nanakramguda Rd, Financial District, Gachibowli. Key Mergers And Acquisitions In The Benzene Market, 28. France Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 17.1. 1) By Manufacturing Process: Pyrolysis Steam Cracking of Naphtha, Catalytic Reforming of Naphtha, Toluene Hydrodealkylation, Toluene Disproportionation, From Biomass Benzene and its Derivatives Market - Overview. | Published : The major players in the global Linear Alkyl Benzene market are Sasol Limited, CEPSA Quimica S.A., Huntsman Corporation, Ho Tung Chemical Corp., Reliance Industries Limited, among others. Increasing demand for polyester and low cost of the feedstock are the factors driving the benzene market. 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. Currently, Asia-Pacific is leader in the consumption of benzene. Expanding demand of styrene polymers from a number of end-use industries such as paints and coatings, automobiles, foams, and films is expected to continue to bode well for benzene and its derivatives market over the 2020- 2030 forecast timeframe. The benzene market was strong in the first quarter of 2018, with the benzene to naphtha spread exceeding $300 per mt. Brazil Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 23.1. Benzene is manufactured primarily as a coproduct. North America Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 20.2. Global Benzene Market to Reach 54. 4 Million Tons in … The major players in the global benzene market are Ameriya Oil Ref. 2) By Derivative: Ethylbenzene, Cumene, Alkylbenzene, Aniline, Chlorobenzene, Cyclohexane, Maleic Anhydride, Other Derivatives Chapter 1, to describe Benzene Introduction, product scope, market overview, market opportunities, market risk, market driving force; Want to procure Price Intelligence Data to help your decision making? (UK), and Repsol … Key factor driving the market studied are increasing demand for styrene polymers from various end-user industries such as textile, packaging, building & construction, etc. The global Benzene market is highly competitive in nature in tandem with the high degree of integration across the value chain. 3 Million Tons by 2027. South Korea Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 13.1. Starting Price : The global (Trifluoromethoxy) Benzene market size is projected to reach USD 110200 Million by 2026, from USD 90380 Million in 2020, at a CAGR of 3.4% during 2021-2026.. Major factors driving the growth of Benzene market size are the rising demand for methylene diphenyl diisocyanate (MDI, the increasing demand for benzene as solvents in manufacturing chemicals and plastic products. The usage of styrene has also benefited manufacturers by reducing vehicle assembly time and costs. Market Definition: Linear alkyl benzene (LAB) is an organic compound that is generally produced as an intermediate while producing surfactants that use in detergent. The report will be delivered in 2-3 business days. USA Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 21.1. The global benzene market is expected to witness a CAGR of approximately 4.3% during the forecasted period, majorly driven by growing usage of synthetic polymers, such as polyester and polystyrene in the end-user industries, such as textile, packaging, building & construction, and electrical & electronics. Western Europe Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 14.2. The market is segmented by Derivative (Ethylbenzene, Cumene, Alkylbenzene, Aniline, Chlorobenzene, Cyclohexane, Maleic Anhydride, and Other Derivatives) and Geography (Asia-Pacific, North America, Europe, South America, and Middle East & Africa). The report is a comprehensive presentation of trends, forecast and dollar values of the global benzene market. yngenta And Bayer AG Are Global Leaders In The Consolidated Pesticides Market, The Impact Of Economic Growth On The Global Methanol Market, Growth Of End-User Industries And Green Innovations Will Drive The Polyurethane Market To Be The Largest Segment Of The Plastic Materials And Resins Market, Economic Growth And Growing World Populations Will Drive The Pesticides Market Growth, Pressure Swing Adsorption Technology For On-Site Nitrogen And Oxygen Production, Changing Farming Practices In The UK’s Pesticides Market, The Demand For Synthetic Dyes And Pigments From End-User Industries Is Rapidly Increasing, Nitrogen’s Many Uses In Established Industries Helps It Lead The Global Industrial Gas Market, Paper, Plastics, Rubber, Wood And Textile. The Global Benzene Market will grow by $ 6.10 bn during 2020-2024 Europe market was valued at US$ XX.X million in 2018 and is projected to reach US$ XX.X million in 2029, and register a CAGR of X.X% during the forecast period, according to a new Market.us (Prudour Research) study. Eastern Europe Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 18.1. Ethylbenzene, a derivative of benzene, is extensively utilized for the production of styrene that is used to manufacture polystyrene plastics and resins. Benzene Market Regional And Country Analysis, 5.1. Market Definition: Global Benzene Market benzene is a natural constituent of crude oil and is also one of the elementary petrochemicals. It is a six carbon unsaturated cyclic hydrocarbon with a chemical formula C6H6. There is an increased demand of styrene-based polymers and copolymers in the automotive industry due to its light weight nature. Global Benzene Scope and Market Size Benzene market is segmented by Type, and by Application. In order to provide a safe environment government agencies limit the amount of benzene that can be released in to the environment. These applications are likely to support the demand for and growth of ethyl benzene. Global Benzene market size will increase to xx Million US$ by 2025, from xx Million US$ in 2018, at a CAGR of xx% during the forecast period. Styrene is used in the production of various products, such as styrene-acrylonitrile (SAN), acrylonitrile-butadiene-styrene (ABS), polystyrene, styrene-butadiene elastomers, latexes, unsaturated polyester resins among others. Global Benzene Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion, 4.1. Usage of plastics like styrene can reduce the weight of vehicles, thereby improving fuel economy. The global Benzene market is expected to reach 53,432.9 kilotons by 2018, signifying a firm annualized growth rate of over 3.8%. The increased use of styrene to drive benzene market. These regulations have increased the operating costs of companies in this industry, thus restricting the growth of the market. Companies in this market should invest in equipment, technologies and processes to limit the toxic levels and chemical concentrations as it may harm the environment and population. Global Benzene Market 2020-2024 The author has been monitoring the benzene market and it is poised to grow by $ 6.10 bn during 2020-2024 progressing at a CAGR of 3% during the forecast period. India Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 9.2. Many companies in the benzene market are focusing on research and developmental activities to discover new technologies and processes for the production of benzene. Africa Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 25. 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. The global Benzene market size is projected to reach US$ 90380 million by 2026, from US$ 87160 million in 2020, at a CAGR of 3.4%% during 2021-2026. Ethyl benzene is a highly-inflammable colorless liquid with an aromatic odor. North America Benzene Market Overview, 19.2. Indonesia Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 12.1. UK Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 15.1. Benzene is an aromatic hydrocarbon that is extracted from crude oil through refinery processes. It constitutes of large number of market players globally. 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. According to the report, the global benzene market is projected to grow at a CAGR of 4.5% over the forecast period of 2018-2024. Global Benzene Market, Segmentation By Derivative, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 4.3. Middle East Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 24.2. Research and Markets Logo. These advantages of usage of styrene-based polymers and copolymers especially in automotive industry is expected to contribute to the growth of benzene market. The “Global Benzene Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market. To understand key trends, Download Sample Report. 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. $ 4000.00 Benzene is a light, highly flammable, colorless and volatile, liquid aromatic hydrocarbon with a sweet odor. Thereafter through the year, benzene production was high from paraxylene integrated reformer/TA plants and naphtha cracker operations. All Rights Reserved to Mordor Intelligence. The global benzene market reached a value of nearly $1.5 billion in 2019, having grown at a compound annual growth rate (CAGR) of 3.64% since 2015, and is expected to grow at a CAGR of -3.51% to nearly $1.3 billion by 2023. 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