The latest industry analysis report published by Reports and Data offers a panoramic view of the global Benzene industry and its key segments. The report offers a concise market summary and highlights the key factors influencing market growth. The global benzene market is forecast to reach USD 118.99 Billion by 2028, according to a new report by Reports and Data. Benzene is a commodity petrochemical and an aromatic hydrocarbon product. It is manufactured as a by-product in refineries and stream crackers.
The demand for the product is fueled by the supply and demand of other products derived from it. Benzene is used in several range of economic sectors such as construction, electrical & electronics, consumer products, pesticides, and construction.
The rapid growth of end-user industries has significantly driven the applications for the derivatives globally, thus influencing the market growth. Rise in population, coupled with the increase in disposable incomes, has led to the growth of several bulk materials and consumer products. Low price of the feedstock and economical commodity product prices have also contributed to the higher consumption of benzene derivatives.
Key participants include Sinopec, BASF SE, Dow DuPont, Saudi Basic Industries Corporation, ExxonMobil Corporation, China National Petroleum Corporation, Royal Dutch Shell plc. JX Holdings, Bp Plc., and Borealis AG, among others.
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Asia Pacific dominates the market for benzene owing to the high rate of consumption in China. The country in the past few years has witnessed all the additional benzene requirements despite a gradually slowing economy. Expansion of refinery capacity in China and large-scale p-xylene plants to feed the downstream petrochemical industry has propelled the demand in the country.
Further key findings from the report suggest
For the purpose of this report, Reports and Data have segmented into the global Benzene market on the basis of derivative, manufacturing process, application, end-users, and region:
Derivative Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
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Manufacturing Process Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
End-Users Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
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Regional Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2018-2028)
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