Ethylbenzene, a derivative of benzene, is extensively utilized for the production of styrene that is used to manufacture polystyrene plastics and resins. Asia Pacific was the largest region in the benzene market in 2019. The technologies developed are expected to help curb the environmental issues. All Rights Reserved to Mordor Intelligence. 7332 Global Benzene Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion, 4.1. It constitutes of large number of market players globally. 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. 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 report is a comprehensive presentation of trends, forecast and dollar values of the global benzene market. These regulations have increased the operating costs of companies in this industry, thus restricting the growth of the market. These applications are likely to support the demand for and growth of ethyl benzene. South Korea Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 13.1. Brazil Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 23.1. | Published : $ 4000.00 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. Market Definition: Global Benzene Market Benzene is a light, highly flammable, colorless and volatile, liquid aromatic hydrocarbon with a sweet odor. Downstream expansion is likely to act as an opportunity in the future. The increased use of styrene to drive benzene market. | Format : The benzene market consists of sales of benzene and related services by entities that produce benzene. India Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 9.2. To understand geography trends, Download Sample Report. 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. In order to provide a safe environment government agencies limit the amount of benzene that can be released in to the environment. Japan Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 10.1. 4.1.1 Increasing Demand for Styrene Polymers from Various End-user Industries, 4.2.1 Detrimental Effects of Benzene Exposure, 4.4.4 Threat of Substitute Products and Services, 6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements, 6.3 Strategies Adopted by Leading Players, 6.4.10 JXTG Nippon Oil & Energy Corporation, 6.4.12 LyondellBasell Industries Holdings BV, 7. Western Europe Benzene Market Overview, 13.2. Usage of plastics like styrene can reduce the weight of vehicles, thereby improving fuel economy. South America Benzene Market Overview, 21.2. The global benzene derivative market is segmented on the basis of type, application, and geography. Asia-pacific presently leads the consumption of benzene with around 50% share of global consumption. Want to procure Price Intelligence Data to help your decision making? Benzene Global Market Report 2020 is one of a series of new reports from The Business Research Company that provide Benzene market overviews, analyze and forecast market size and growth for the whole market, Benzene market segments and geographies, Benzene market trends, Benzene market geographies. Research and Markets Logo. Benzene Market Regional And Country Analysis, 5.1. Benzene Market Competitive Landscape, 25.2.3. 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. UK Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 15.1. Starting Price : Benzene is used as an intermediary chemical in the manufacture of plastics, resin, nylons and synthetic fibers. 4 Million Tons in … Chapter 1, to describe Benzene Introduction, product scope, market overview, market opportunities, market risk, market driving force; Thereafter through the year, benzene production was high from paraxylene integrated reformer/TA plants and naphtha cracker operations. It is a six carbon unsaturated cyclic hydrocarbon with a chemical formula C6H6. Report scope can be customized per your requirements. Global Benzene Scope and Market Size Benzene market is segmented by Type, and by Application. Apart from styrene, ethyl benzene is also used as a solvent in fuels and as an intermediate for other chemical applications. Australia Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 11.1. Benzene Market Competitive analysis Some of the prominent players operating in the global benzene market are BASF SE (Germany), Ecolab (U.S.), The Dow Chemical Company (U.S.), Arsol Aromatics GmbH & Co. KG (Germany), Exxon Mobil Corporation (U.S.), Royal Dutch Shell plc (the Netherlands), China Petroleum & Chemical Corporation (China), SABIC (Saudi Arabia), BP p.l.c. Western Europe Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 14.2. Global Benzene Market Trends: One of the major factors contributing to the market growth is the increasing demand for ethylbenzene from a vast array of industries. For instance, according to the American Chemistry Council (ACC), the fuel economy of a vehicle can improve by 6-8% by reducing the weight of a vehicle by 10%. Ethyl benzene is a highly-inflammable colorless liquid with an aromatic odor. South America Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 22.1. Global Benzene Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 5.2. 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. Benzene demand is anticipated to grow at a healthy CAGR of 2.9% during the forecast period. To understand key trends, Download Sample Report. Global Benzene Market, Segmentation By Derivative, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 4.3. 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: In October 2019, Saudi Basic Industries Corp (SABIC) completed merger of its wholly owned affiliates Saudi Petrochemical Company (Sadaf) and Arabian Petrochemical Company (Petrokemya). The demand for styrene is continuously growing in the Middle East and Asia-Pacific, owing to increased demand for rubber tires in both regions. Asia-Pacific Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 7.2. Global Benzene Market Competitive Landscape. 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 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. For instance, in June 2016, Reliance Industries Limited entered into a joint venture with the Indian Institute of Petroleum (IIP), Dehradun, to develop a technology which restricts benzene content in the gasoline pool to address the health and environmental concerns. Many companies in the benzene market are focusing on research and developmental activities to discover new technologies and processes for the production of benzene. Benzene is an aromatic hydrocarbon that is extracted from crude oil through refinery processes. The global Linear Alkyl Benzene market is highly fragmented. The Benzene market, along with its various derivatives, has witnessed a significant growth in the recent years and this growth is estimated to persist in the coming years. Key Mergers And Acquisitions In The Benzene Market, 28. The global benzene market demand has been segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Global benzene market is expected to rise to an estimated value of USD 111.1 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026. Benzene is … The benzene market was strong in the first quarter of 2018, with the benzene to naphtha spread exceeding $300 per mt. The Global Benzene Market will grow by $ 6.10 bn during 2020-2024 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. 2) By Derivative: Ethylbenzene, Cumene, Alkylbenzene, Aniline, Chlorobenzene, Cyclohexane, Maleic Anhydride, Other Derivatives The “Global Benzene Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market. Global Market for Benzene - Demand is Anticipated to Grow at a Healthy CAGR of 2.9% to 2030 - ResearchAndMarkets.com May 21, 2020 05:49 AM Eastern Daylight Time Currently, Asia-Pacific is leader in the consumption of benzene. The benzene’s derivate ethyl benzene is majorly used in the manufacturing of styrene. Market Insight 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 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. Singapore — The global supply tightness that unusually characterized the benzene market in the second half of 2020 is likely to persist into 2021, although demand for the byproduct chemical of aromatics units, crackers and reformers will hinge on the impact of new downstream plant startups in … Middle East Benzene Market Overview, 23.2. Some of the key companies in the industry include Sinopec, BASF, China National Petroleum Corporation, Saudi Basic Industries Corporation, Dow DuPont, ExxonMobil Corporation, and Royal Dutch Shell plc. Benzene Market Future Outlook and Potential Analysis. The usage of styrene has also benefited manufacturers by reducing vehicle assembly time and costs. The report contains data of the base year 2018 and historic year 2017. Global Benzene Historic Market, 2015 - 2019, $ Billion, 3.2. The increase in such technological advances to reduce the emissions will gain traction contributing to the growth of the market. This deal will transfer Sadaf’s assets, rights, liabilities, and obligations to Petrokemya and increase efficiency of SABIC’s operations. It is majorly used in the manufacturing of styrene. The global Benzene market is highly competitive in nature in tandem with the high degree of integration across the value chain. Benzene Market- Global Market Growth, Supply & Demand. Indonesia Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 12.1. Global Benzene Alkylation Catalyst Market Report 2020 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2026 (Based on 2020 COVID-19 Worldwide Spread) The Benzene Alkylation Catalyst market is expected to grow from USD X.X million in 2020 to USD X.X million by 2026, at a CAGR of X.X% during the forecast period. Have increased the operating costs of companies in this industry, thus restricting the growth of benzene with around %... 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