The global benzene market is forecast to reach US$105.75 billion in 2025, growing at a CAGR of 3.9% for the period spanning 2021-2025.
The factors such as growing oil and gas exploration activities, escalating construction expenditure, high demand for polyester fiber, accelerating household cleaning products consumption and rapid urbanization are expected to drive the market. However, growth of the industry would be challenged by stringent environmental regulations and volatility in the raw material prices.
Few notable trends include rising consolidation of market players, high benzene & derivatives by pharmaceutical companies, growing focus on lighter feedstock and increasing benzene production capacity additions. In 2020, the outbreak of COVID-19 pandemic has created an unfavorable impact on the market.
The benzene market is dominated by three key derivatives i.e. Styrene Monomer (SM), Cumene and Anone (Cyclohexanone). Growing beverage industry, increasing refrigerators consumption and rising production of homopolymer & copolymer of Polystyrene has helped SM to remain at top position amongst all the benzene derivatives in 2020.
The fastest growing regional market is Asia-Pacific owing to Improving economic conditions, increasing home appliances consumption and growing benzene production capacities. China and the U.S. are the two largest market and are already well-penetrated at developed market levels.
Scope of the Report
The report provides a comprehensive analysis of the global benzene market, segmented on the basis of derivatives i.e. SM, Cumene and Anone.
The major regional markets (Asia-Pacific, Europe and North America) have been analysed along with country coverage of China and US.
The market dynamics such as growth drivers, market trends and challenges are analysed in-depth.
The competitive landscape of the market, along with the company profiles of leading players i.e. BASF SE, Royal Dutch Shell plc, Sinopec Corporation, BP plc, DuPont de Nemours, Inc. and ExxonMobil Corporation are also presented in detail.
Key Target Audience
Raw Material Suppliers
Government Bodies & Regulating Authorities
Key Topics Covered:
1. Market Overview 1.1 Introduction 1.2 Benzene Chemical and Physical Properties 1.3 Benzene Derivatives 1.4 Benzene Production Process
2. Impact of COVID-19 2.1 Introduction 2.2 Regional Analysis 2.3 High Asian Benzene Imports by US 2.4 Rise in Benzene Prices
3. Global Benzene Market Analysis 3.1 Global Benzene Market Value 3.2 Global Benzene Market Value Forecast 3.3 Global Benzene Capacity 3.4 Global Benzene Capacity Forecast 3.5 Global Benzene Supply 3.6 Global Benzene Supply Forecast 3.7 Global Benzene Supply by Region 3.8 Global Benzene Demand 3.9 Global Benzene Demand Forecast 3.10 Global Benzene Demand by Derivatives 3.10.1 Global SM Benzene Demand 3.10.2 Global SM Benzene Demand Forecast 3.10.3 Global Cumene Benzene Demand 3.10.4 Global Cumene Benzene Demand Forecast 3.10.5 Global Anone Benzene Demand 3.10.6 Global Anone Benzene Demand Forecast 3.11 Global Benzene Demand by Region
4. Regional Benzene Market Analysis 4.1 Asia-Pacific 4.1.1 Asia-Pacific Benzene Supply 4.1.2 Asia-Pacific Benzene Supply Forecast 4.1.3 China Benzene Supply 4.1.4 China Benzene Supply Forecast 4.1.5 Asia-Pacific Benzene Demand 4.1.6 Asia-Pacific Benzene Demand Forecast 4.1.7 China Benzene Demand 4.1.8 China Benzene Demand Forecast 4.2 Europe 4.3 North America
5. Market Dynamics 5.1 Growth Drivers 5.1.1 Growing Oil and Gas Exploration Activities 5.1.2 Escalating Construction Expenditure 5.1.3 High Demand for Polyester Fiber 5.1.4 Accelerating Household Cleaning Products Consumption 5.1.5 Rapid Urbanization 5.2 Key Trends and Developments 5.2.1 Rising Consolidation of Market Players 5.2.2 High Benzene & Derivatives by Pharmaceutical Companies 5.2.3 Growing Focus on Lighter Feedstock 5.2.4 Increasing Benzene Production Capacity Additions 5.3 Challenges 5.3.1 Stringent Environmental Regulations 5.3.2 Volatility in the Raw Material Prices
6. Competitive Landscape 6.1 Global Benzene Market 6.1.1 Key Players - Revenues Comparison 6.1.2 Key Players - Market Cap Comparison
7. Company Profiles 7.1 BASF SE 7.2 Royal Dutch Shell plc 7.3 Sinopec Corporation 7.4 BP plc 7.5 DuPont de Nemours, Inc. 7.6 ExxonMobil Corporation