Benzene Market Research Report - Global Forecast till 2030

Benzene Market Research Report: Information by Derivative (Alkyl Benzene, Cumene, Cyclohexane, Ethyl Benzene, Nitro Benzene, Aniline, Toluene, Phenol, Styrene and Others), Application (Solvent, Chemical Intermediates, Surfactants, Plastics, Rubber Manufacturing, Detergent, Explosives, Lubricants, Pesticides, Anti-Knock Additives and Others) and Region (Asia-Pacific, North America, Latin America, Europe and the Middle East & Africa) - Forecast till 2030

ID: MRFR/CnM/0423-HCR | August 2022 | Region: Global | 140 Pages         

Table of Contents

1 Executive Summary

2 Market Introduction

2.1 Market Definition

2.2 Scope of the Study

2.2.1 Research Objectives

2.2.2 Assumptions & Limitations

2.3 Markets Structure

2.4 Key Takeaways

3 Market Research Methodology

3.1 Research Process

3.2 Primary Research

3.3 Secondary Research

3.4 Market Size Estimation

3.5 Forecast Model

4 Market Dynamics of the Global Benzene Market

4.1 Introduction

4.2 Drivers

4.3 Restraints

4.4 Opportunities

4.5 Challenges

4.6 Trends/Technology

5 Market Factor Analysis of the Global Benzene Market

5.1 Supply Chain Analysis

5.1.1 Raw Derivative Suppliers

5.1.2 Manufacturers/Producers

5.1.3 Distributors/Retailers/Wholesalers/E-Commerce

5.1.4 End User

5.2 Porter’s Five Forces Analysis

5.2.1 Threat of New Entrants

5.2.2 Bargaining Power of Buyers

5.2.3 Bargaining Power of Suppliers

5.2.4 Threat of Substitutes

5.2.5 Intensity of Competitive Rivalry

5.3 Pricing Analysis

6. Global Benzene Market, by Derivative

6.1 Introduction

6.2 Alkyl Benzene

6.2.1 Market Estimates & Forecast, 2020βˆ’2027

6.2.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

6.3 Cumene

6.3.1 Market Estimates & Forecast, 2020βˆ’2027

6.3.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

6.4 Cyclohexane

6.4.1 Market Estimates & Forecast, 2020βˆ’2027

6.4.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

6.5 Ethyl Benzene

6.5.1 Market Estimates & Forecast, 2020βˆ’2027

6.5.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

6.6 Nitro Benzene

6.6.1 Market Estimates & Forecast, 2020βˆ’2027

6.6.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

6.7 Aniline

6.7.1 Market Estimates & Forecast, 2020βˆ’2027

6.7.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

6.8 Toluene

6.8.1 Market Estimates & Forecast, 2020βˆ’2027

6.8.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

6.9 Phenol

6.9.1 Market Estimates & Forecast, 2020βˆ’2027

6.9.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

6.10 Styrene

6.10.1 Market Estimates & Forecast, 2020βˆ’2027

6.10.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

6.11 Others

6.11.1 Market Estimates & Forecast, 2020βˆ’2027

6.11.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7. Global Benzene Market, by Application

7.1 Introduction

7.2 Solvent

7.2.1 Market Estimates & Forecast, 2020βˆ’2027

7.2.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7.3 Chemical Intermediates

7.3.1 Market Estimates & Forecast, 2020βˆ’2027

7.3.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7.4 Surfactants

7.4.1 Market Estimates & Forecast, 2020βˆ’2027

7.4.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7.5 Plastics

7.5.1 Market Estimates & Forecast, 2020βˆ’2027

7.5.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7.6 Rubber Manufacturing

7.6.1 Market Estimates & Forecast, 2020βˆ’2027

7.6.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7.7 Detergent

7.7.1 Market Estimates & Forecast, 2020βˆ’2027

7.7.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7.8 Explosives

7.8.1 Market Estimates & Forecast, 2020βˆ’2027

7.8.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7.9 Lubricants

7.9.1 Market Estimates & Forecast, 2020βˆ’2027

7.9.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7.10 Pesticides

7.10.1 Market Estimates & Forecast, 2020βˆ’2027

7.10.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7.11 Anti-Knock Additives

7.11.1 Market Estimates & Forecast, 2020βˆ’2027

7.11.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

7.12 Others

7.12.1 Market Estimates & Forecast, 2020βˆ’2027

7.12.2 Market Estimates & Forecast, by Region, 2020βˆ’2027

8. Global Benzene Market, by Region

8.1 Introduction

8.2 North America

8.2.1 Market Estimates & Forecast, 2020βˆ’2027

8.2.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.2.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.2.4 US

8.2.4.1 Market Estimates & Forecast, 2020βˆ’2027

8.2.4.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.2.4.3 Market Estimates & Forecast, Application, 2020βˆ’2027

8.2.5 Canada

8.2.5.1 Market Estimates & Forecast, 2020βˆ’2027

8.2.5.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.2.5.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3 Europe

8.3.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.3.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.4 Germany

8.3.4.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.4.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.3.4.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.5 France

8.3.5.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.5.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.3.5.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.6 Italy

8.3.6.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.6.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.3.6.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.7 Spain

8.3.7.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.7.2 Market Estimates & Forecast, by Derivative,2020βˆ’2027

8.3.7.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.8 UK

8.3.8.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.8.2 Market Estimates & Forecast, by Derivative,2020βˆ’2027

8.3.8.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.9 Russia

8.3.9.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.9.2 Market Estimates & Forecast, by Derivative,2020βˆ’2027

8.3.9.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.10 Poland

8.3.10.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.10.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.3.10.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.3.11 Rest of Europe

8.3.11.1 Market Estimates & Forecast, 2020βˆ’2027

8.3.11.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.3.11.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.4 Asia-Pacific

8.4.1 Market Estimates & Forecast, 2020βˆ’2027

8.4.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.4.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.4.4 China

8.4.4.1 Market Estimates & Forecast, 2020βˆ’2027

8.4.4.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.4.4.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.4.5 India

8.4.5.1 Market Estimates & Forecast, 2020βˆ’2027

8.4.5.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.4.5.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.4.6 Japan

8.4.6.1 Market Estimates & Forecast, 2020βˆ’2027

8.4.6.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.4.6.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.4.7 Australia & New Zealand

8.4.7.1 Market Estimates & Forecast, 2020βˆ’2027

8.4.7.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.4.7.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.4.8 Rest of Asia-Pacific

8.4.8.1 Market Estimates & Forecast, 2020βˆ’2027

8.4.8.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.4.8.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.5 Middle East & Africa

8.5.1 Market Estimates & Forecast, 2020βˆ’2027

8.5.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.5.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.5.4 GCC

8.5.4.1 Market Estimates & Forecast, 2020βˆ’2027

8.5.4.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.5.4.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.5.5 Israel

8.5.5.1 Market Estimates & Forecast, 2020βˆ’2027

8.5.5.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.5.5.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.5.6 North Africa

8.5.6.1 Market Estimates & Forecast, 2020βˆ’2027

8.5.6.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.5.6.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.5.7 Turkey

8.5.7.1 Market Estimates & Forecast, 2020βˆ’2027

8.5.7.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.5.7.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.5.8 Rest of Middle East & Africa

8.5.8.1 Market Estimates & Forecast, 2020βˆ’2027

8.5.8.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.5.8.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.6 Latin America

8.6.1 Market Estimates & Forecast, 2020βˆ’2027

8.6.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.6.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.6.4 Brazil

8.6.4.1 Market Estimates & Forecast, 2020βˆ’2027

8.6.4.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.6.4.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.6.5 Argentina

8.6.5.1 Market Estimates & Forecast, 2020βˆ’2027

8.6.5.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.6.5.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.6.6 Mexico

8.6.6.1 Market Estimates & Forecast, 2020βˆ’2027

8.6.6.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.6.6.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

8.6.7 Rest of Latin America

8.6.7.1 Market Estimates & Forecast, 2020βˆ’2027

8.6.7.2 Market Estimates & Forecast, by Derivative, 2020βˆ’2027

8.6.7.3 Market Estimates & Forecast, by Application, 2020βˆ’2027

11. Company Landscape

11.1 Introduction

11.2 Market Strategies

11.3 Key Development Analysis (Expansion/Mergers & Acquisitions/Joint Venture/New Derivative Development/Agreement/Investment)

12. Company Profiles

12.1 Arsol Aromatics GmbH & Co. KG

12.1.1 Company Overview

12.1.2 Financial Updates

12.1.3 Product/Business Segment Overview

12.1.4 Key Strategies

12.1.5 Key Developments

12.1.6 SWOT Analysis

12.2 SABIC

12.2.1 Company Overview

12.2.2 Financial Updates

12.2.3 Product/Business Segment Overview

12.2.4 Key Strategies

12.2.5 Key Developments

12.2.6 SWOT Analysis

12.3 BP plc

12.3.1 Company Overview

12.3.2 Financial Updates

12.3.3 Product/Business Segment Overview

12.3.4 Key Strategies

12.3.5 Key Developments

12.3.6 SWOT Analysis

12.4 Exxon Mobil Corporation

12.4.1 Company Overview

12.4.2 Financial Updates

12.4.3 Product/Business Segment Overview

12.4.4 Key Strategies

12.4.5 Key Developments

12.4.6 SWOT Analysis

12.5 BASF SE

12.5.1 Company Overview

12.5.2 Financial Updates

12.5.3 Product/Business Segment Overview

12.5.4 Key Strategies

12.5.5 Key Developments

12.5.6 SWOT Analysis

12.6 China Petroleum & Chemical Corporation

12.6.1 Company Overview

12.6.2 Financial Updates

12.6.3 Product/Business Segment Overview

12.6.4 Key Strategies

12.6.5 Key Developments

12.6.6 SWOT Analysis

12.7 Royal Dutch Shell Plc

12.7.1 Company Overview

12.7.2 Financial Updates

12.7.3 Product/Business Segment Overview

12.7.4 Key Strategies

12.7.5 Key Developments

12.7.6 SWOT Analysis

12.8 Repsol

12.8.1 Company Overview

12.8.2 Financial Updates

12.8.3 Product/Business Segment Overview

12.8.4 Key Strategies

12.8.5 Key Developments

12.8.6 SWOT Analysis

12.9 Borealis AG

12.9.1 Company Overview

12.9.2 Financial Updates

12.9.3 Product/Business Segment Overview

12.9.4 Key Strategies

12.9.5 Key Developments

12.9.6 SWOT Analysis

12.10 Dow

12.10.1 Company Overview

12.10.2 Financial Updates

12.10.3 Product/Business Segment Overview

12.10.4 Key Strategies

12.10.5 Key Developments

12.10.6 SWOT Analysis

13. Conclusion

LIST OF TABLES


Table 1 Global Benzene Market: by Region, 2020βˆ’2027

Table 2 North America: Benzene Market, by Country, 2020βˆ’2027

Table 3 Europe: Benzene Market, by Country, 2020βˆ’2027

Table 4 Asia-Pacific: Benzene Market, by Country, 2020βˆ’2027

Table 5 Middle East & Africa: Benzene Market, by Country, 2020βˆ’2027

Table 6 Latin America: Benzene Market, by Country, 2020βˆ’2027

Table 7 Global Benzene Derivative Market, by Regions, 2020βˆ’2027

Table 8 North America: Benzene Derivative Market, by Country, 2020βˆ’2027

Table 9 Europe: Benzene Derivative Market, by Country, 2020βˆ’2027

Table10 Asia-Pacific: Benzene Derivative Market, by Country, 2020βˆ’2027

Table11 Middle East & Africa: Benzene Derivative Market, by Country, 2020βˆ’2027

Table12 Latin America: Benzene Derivative Market, by Country, 2020βˆ’2027

Table13 Global Benzene Application Market, by Regions, 2020βˆ’2027

Table14 North America: Benzene Application Market, by Country, 2020βˆ’2027

Table15 Europe: Benzene Application Market, by Country, 2020βˆ’2027

Table16 Asia-Pacific: Benzene Application Market, by Country, 2020βˆ’2027

Table17 Middle East & Africa: Benzene Application Market, by Country, 2020βˆ’2027

Table18 Latin America: Benzene by Application Market, by Country, 2020-2027

Table19 Global Derivative Market, by Region, 2020βˆ’2027

Table20 Global Application Market, by Region, 2020βˆ’2027

Table21 North America: Benzene Market, by Country, 2020βˆ’2027

Table22 North America: Benzene Market, by Derivative, 2020βˆ’2027

Table23 North America: Benzene Market, by Application, 2020βˆ’2027

Table24 Europe: Benzene Market, by Country, 2020βˆ’2027

Table25 Europe: Benzene Market, by Derivative, 2020βˆ’2027

Table26 Europe: Benzene Market, by Application, 2020βˆ’2027

Table27 Asia-Pacific: Benzene Market, by Country, 2020βˆ’2027

Table28 Asia-Pacific: Benzene Market, by Derivative, 2020βˆ’2027

Table29 Asia-Pacific: Benzene Market, by Application, 2020βˆ’2027

Table30 Middle East & Africa: Benzene Market, by Country, 2020βˆ’2027

Table31 Middle East & Africa: Benzene Market, by Derivative, 2020βˆ’2027

Table32 Middle East & Africa: Benzene Market, by Application, 2020βˆ’2027

Table33 Latin America: Benzene Market, by Country, 2020βˆ’2027

Table34 Latin America: Benzene Market, by Derivative, 2020βˆ’2027

Table35 Latin America: Benzene Market, by Application, 2020βˆ’2027

LIST OF FIGURES

FIGURE 1 Global Benzene Market Segmentation

FIGURE 2 Forecast Research Methodology

FIGURE 3 Five Forces Analysis of the Global Benzene Market

FIGURE 4 Supply Chain of the Global Benzene Market

FIGURE 5 Global Benzene Market, 2020βˆ’2027, by Country, 2020

FIGURE 6 Share of the Global Benzene Market, by Country, 2020βˆ’2027

FIGURE 7 Global Benzene Market Size, by Derivative, 2020

FIGURE 8 Share of the Global Benzene Market, by Derivative, 2020βˆ’2027

FIGURE 9 Global Benzene Market Size, by Application, 2020

FIGURE10 Share of the Global Benzene Market, by Application, 2020βˆ’2027

Benzene Market

Benzene Market is expected to reach over USD 80 billion by the year 2030 while registering a healthy CAGR of over 3.65% during the forecast 2030.

Segmentation

By Derivative Alkyl Benzene Cumene Cyclohexane Ethyl Benzene Nitro Benzene Aniline Toluene Phenol Styrene
Application Solvent Chemical Intermediates Surfactants Plastics Rubber Manufacturing Detergent Explosives Lubricants Pesticides Anti Knock Additives

Key Players

  • BASF SE
  • Chevron Phillips Chemical Company LLC
  • Exxon Mobil Corporation
  • Royal Dutch Shell PLC
  • LG Chem.
  • China Petroleum & Chemical Corporation
  • The Dow Chemical Company
  • Total S.A

Drivers

  • The increase in demand for phenol and steric polymers in plastic and resin processing industries.
Speak to Analyst Request a Free Sample

Benzene Market overview:


Benzene Market is expected to reach over USD 80 billion by the year 2030 while registering a healthy CAGR of over 3.65% during the forecast 2030.

Benzene can be otherwise called an industrial chemical that is obtained from crude oil. Benzene is intensively used in the manufacturing of components such as plastics, resins, dyes, detergents, drugs, and pesticides. The potential end-user industries such as agriculture, home cleaning supplies, automotive, and others are showcasing higher demand for the products derived from benzene. Such factors are considered as the major drivers of benzene market growth.


Also, the increasing number of medical emergencies and COVID cases has stimulated the demand for paracetamol and other drugs that are reliant on benzene. Such factors have also impacted the benzene industry in recent years. However, industrial utilization is considered as the major end-user application where benzene is used as the industrial solvent, gasoline additive, other applications. 


COVID 19 Analysis:


The automotive industry is considered as the major end-user industry of the benzene industry and the pandemic has created a halt in the production unit of automotive industries. Also, the demand for nylon tires, injection-molded vehicle parts, and foam seating has reduced significantly. Such factors have reduced the overall benzene market demand throughout the pandemic. 


On the other side, the demand for the drugs like paracetamol was soaring due to the pandemic, due to the increasing number of COVID cases across the globe that have supported the benzene market growth during the pandemic. Benzene-derived intermediates such as chlorobenzene are intensively used in the pharmaceutical industry. Such factors have increased the overall growth of the benzene industry during the pandemic. Also, the growing e-commerce sectors have propelled the demand for packaging made of polystyrene, which is an intermediate obtained from benzene. The food packaging and commodity packaging industries during the pandemic have increased which was driving the benzene market growth during the pandemic.


Market dynamics:


Market drivers:


The increasing demand for the polystyrene and copolymers of styrene for the industrial processes involved in the automobiles, construction, packaging industries, and others are significantly driving the benzene market growth in recent years.


The demand for the potential end-user industries such as automobiles, construction, and packaging industries with the increasing population and increasing disposable income are also creating a huge impact on benzene market growth. The phenolic resins and bisphenol A are the feedstocks that are intensively used in epoxy resins and polycarbonate. Such factors are also impacting the overall growth of the benzene industry in recent years.


Market opportunities:


The increasing demand for styrene polymers for the end-user industries such as textile, packaging, building, and construction across the globe is expected to boost the overall growth of the benzene industry during the forecast period. The developed countries are inclined towards improving their construction and infrastructure, with the developing economic conditions. Such factors are also expected to boost the benzene market growth during the forecast period.


The continuous efforts for the downstream expansion and the increasing number of plants in the petrochemical businesses are presenting lucrative opportunities for the overall growth of the benzene industry.


Market restraints:


US department of health and services had restricted the usage of benzene for industrial purposes and classified it as a human carcinogen. Continuous exposure to ethylbenzene causes eye irritation and problems in the throat. Such factors are considered as the major restraints of benzene market growth.


The disruption in the sales of aromatic products, consumer appliances, electronic goods, and fabrics has also affected the growth of the benzene industry in recent years.


Market challenges:


Some of the challenges related to the feedstock, especially in the western markets, have impacted the yield of benzene. The lighter feedstock has significantly affected the yield and therefore reduced the output in those industries. This has been considered as the major challenge for benzene market growth.


Improper exposure to benzene causes several health-related issues and therefore the government has imposed stringent laws and regulations on its usage. Moreover, the changing price of crude oil in recent years is also considered as the major challenge for benzene market growth.


Cumulative growth analysis:


The statistics from Food and Agricultural Organization from United Nations show that there are about 3,08, 827 tonnes of pesticides that are used in agricultural practices across the globe. Among other potential continents, Asia had consumed over 52.4% of pesticides for agriculture in the year 2018 and China is considered as the largest consumer in the Asian continent. Other end-user industries of Benzene are electrical and electronics, construction, consumer products, medical and transportation sectors. The benzene derivatives are utilized in the end-user industries such as packaging, construction, bulk chemicals, materials, textiles, and automotive industries. The market size of the benzene industry was at USD 61.5 billion in the year 2020 and it is expected to reach over USD 76.3 billion by the year 2026 while registering a healthy CAGR of over 3% during the forecast period. Some of the favorable conditions for the benzene industry are lower costs of the feedstock, economical product prices, increasing demand for consumer products, bulk materials, and so on.


Value chain analysis:


The growth of the benzene industry is highly influenced by the demand for key applications such as plastics, synthetic fiber, rubber lubricants, pesticides for agriculture, dyes, detergents, and so on. Among other derivatives, Ethylbenzene derivative is expected to hold a larger segment as they are used in industrial plants, and the raw materials are used in the production of styrene monomer. Moreover, the ethylbenzene that is found in crude petroleum is used as a solvent for spray paints, coatings wood stains, varnishes, and so on. 


Ethylbenzene is used as rust preventives, household, and automotive cleaners. The growing population and the increasing investment in the automotive industry are continuously driving the demand for cleaners and thereby impacting the overall growth of the benzene industry across the globe. The agricultural growth across the globe, especially in the countries such as China, India, and other countries is also showcasing demand for herbicides, pesticides, and insecticides that are intensive users of benzene. Also, the soaring demands for solvents that contain benzene are impacting the overall growth of the benzene industry in recent years.


Segment overview:


Based on Derivatives:



  • Ethylbenzene

  • Cumene

  • Alkylbenzene

  • Aniline

  • Chlorobenzene

  • Cyclohexane

  • Maleic Anhydride

  • Others 


Based on applications:



  • Spray paints

  • Coatings

  • Wood stains

  • Varnishes

  • Automotive

  • Diesel

  • Rubber lubricants

  • Dyes

  • Detergents 


Based on end-user industries:



  • Building

  • Textile

  • Transportation

  • Electrical 

  • Electronics

  • Others 


Regional analysis:


The Asia-pacific region is currently dominating the Benzene market size as the region is consuming over 50% share globally. Also, the demand for benzene in the countries such as North America and Europe is expected to grow at a moderate rate as there is a constant demand for the chemical derivatives such as nitrobenzene, cumene, and cyclohexane are rising. Similarly, North America is also witnessing higher demand for benzene due to the potential end-user industries such as the construction and textile industry. However, the benzene market growth across Europe is relatively lower as the government has imposed stringent environmental regulations.


On the other hand, China is also intensively utilizing benzene for the automotive industry, that is the country is expected to manufacture over 704 million tires every year by the year 2025 and over 20,000 extra-large industrial tires and over 54,000 aircraft tires. Such soaring demand for automotive products is expected to boost the overall growth of the benzene industry in China. 


Competitive landscape:



  • BASF SE

  • Chevron Phillips Chemical Company LLC

  • Exxon Mobil Corporation

  • Royal Dutch Shell PLC

  • LG Chem.

  • China Petroleum & Chemical Corporation

  • The Dow Chemical Company

  • Total S.A. 


Recent developments:


October 2021- Ombrelle Canada, recommended brand by pharmacists and physicians, recalls a range of spray sunscreen because of increased levels of benzene that may cause serious health risks. According to Health Canada, Ombrelle Garnier Complete Dry Mist Spray Sunscreen, SPF 60, and SPF 30 are recalled.

Benzene is a chemical usually used in industrial emissions, second-hand smoke, and car exhaust.
Recurrent and long-term exposure via skin or by inhalation to increased levels of benzene may lead to severe health risks such as different types of cancer such as bone marrow failure, anemia, and leukemia.
Anyone with these products should stop using them immediately or contact health experts in case of any concern.

July 2021- Johnson & Johnson revealed that it willingly recalls 14 sunscreen products from five distinct product lines once finding benzene, a recognized carcinogen, in some popular sunscreen sprays.

The Company suggests customers stop using and discard its Neutrogena and Aveeno aerosolized sunscreens. It also informed retailers and distributors to stop selling the sprays and manage the return of the products.

In the year 2021, one of the leading market players, Total and Covestro have announced their partnering that has helped to boost the overall growth of the benzene industry. Their partnership has brought in several advancements in the benzene industry, such as an improved production rate of 2000 tons of benzene with higher quality and ISCC plus-certified, alternative solutions for the sustainable end-user products such as insulation boards, automotive parts, cooling units, and so on.


In the year 2021, one of the leading market players, Hengyi petrochemical has developed a benzene plant that has been improved with technical advancements, where the annual capacity is expected to be between 500 kilotons to 800 kilotons.


In the year 2020, one of the leading market players, SIBUR has announced the benzene separation plant that is equipped with an extractive distillation unit in the Kstovo site in Russia. This extractive distillation unit efficiently separates the non-aromatic hydrocarbons and also significantly increases the productivity of the overall industries.


 Report overview:


 This report has covered:



  • Market overview

  • COVID 19 Analysis

  • Market dynamics

  • Cumulative growth analysis

  • Value chain analysis

  • Segment overview

  • Regional analysis

  • Competitive landscape

  • Recent developments


Segmentation Table:


Based on Derivatives:



  • Ethylbenzene

  • Cumene

  • Alkylbenzene

  • Aniline

  • Chlorobenzene

  • Cyclohexane

  • Maleic Anhydride

  • Others 


Based on applications:



  • Spray paints

  • Coatings

  • Wood stains

  • Varnishes

  • Automotive

  • Diesel

  • Rubber lubricants

  • Dyes

  • Detergents 


Based on end-user industries:



  • Building

  • Textile

  • Transportation

  • Electrical 

  • Electronics

  • Others



Report Scope:
Report Attribute/Metric Details
  Market Size   USD 80 billion
  CAGR   3.65% 2030
  Base Year   2019
  Forecast Period   2022Β toΒ 2030
  Historical Data   2019Β &Β 2020
  Forecast Units   Value (USD Million)
  Report Coverage   Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
  Segments Covered   Derivatives, Application
  Geographies Covered   North America, Europe, Asia-Pacific, and Rest of the World (RoW)
  Key Vendors   Aerosol Aromatics GmbH & Co. KG (Germany), Dow (US)., SABIC (Saudi Arabia), Borealis AG (Austria), BP plc (UK), Exxon Mobil Corporation (US), Borealis AG (Austria), BASF SE (Germany), Repsol (Spain), Royal Dutch Shell Plc (Netherlands) and China Petroleum & Chemical Corporation (China)
  Key Market Opportunities   The market growth is attributed to increasing demand in various end-use industries
  Key Market Drivers   The increase in demand for phenol and steric polymers in plastic and resin processing industries.


Speak to Analyst Ask for Customization

Frequently Asked Questions (FAQ) :

The market value of the Benzene industry was at USD 61.5 billion in the year 2020 and it is expected to surpass the market value of over USD 80 billion by the year 2030 while registering a CAGR of 3.65%.

The Asia Pacific is expected to dominate the benzene market during the forecast period.

The key players in the market are Arsol Aromatics GmbH & Co. KG (Germany), Dow (US)., SABIC (Saudi Arabia), Borealis AG (Austria), BP plc (UK), Exxon Mobil Corporation (US), Borealis AG (Austria), BASF SE (Germany), Repsol (Spain), Royal Dutch Shell Plc (Netherlands) and China Petroleum & Chemical Corporation (China).

Mergers, geographical expansions, mergers, and collaborations among themselves are among the few major strategies implemented b the major players in the benzene market.

The ill effects it produces on human health and the environment are the major factors that hamper the market’s growth.