South America Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 22.1. Detrimental effects of benzene exposure is likely to hinder the growth of the market studied. The benzene market is consolidated, and the key players include BASF SE, Chevron Phillips Chemical Company, Exxon Mobil Corporation, LG Chem, Royal Dutch Shell PLC, etc. All Rights Reserved to Mordor Intelligence. 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. 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. We are always looking to hire talented individuals with equal and extraordinary proportions of industry expertise, problem solving ability and inclination. 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 benzene market are Ameriya Oil Ref. The global benzene market is forecast to reach $ 115.42 billion by 2027, according to a new report by Reports and Data. | Pages : Market Insight 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. 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). Global Benzene Market to Reach 54. Benzene is manufactured primarily as a coproduct. This deal will transfer Sadafâs assets, rights, liabilities, and obligations to Petrokemya and increase efficiency of SABICâs operations. Want to procure Price Intelligence Data to help your decision making? 3 Million Tons by 2027. Ethylbenzene, a derivative of benzene, is extensively utilized for the production of styrene that is used to manufacture polystyrene plastics and resins. 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. 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. Thereafter through the year, benzene production was high from paraxylene integrated reformer/TA plants and naphtha cracker operations. Apart from styrene, ethyl benzene is also used as a solvent in fuels and as an intermediate for other chemical applications. The Global Benzene Market will grow by $ 6.10 bn during 2020-2024 In this study, 2018 has been considered as the base year and 2019 to 2025 as the forecast period to estimate the market size for Benzene. 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 The global benzene derivative market is segmented on the basis of type, application, and geography. Australia Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 11.1. Â Humans, when exposed to benzene in air for a certain amount of time lose their life. 2) By Derivative: Ethylbenzene, Cumene, Alkylbenzene, Aniline, Chlorobenzene, Cyclohexane, Maleic Anhydride, Other Derivatives Middle East Benzene Market Overview, 23.2. The benzene market has been geographically segmented into North America, Western Europe, Asia-Pacific, Eastern Europe, South America and Middle East & Africa. Currently, Asia-Pacific is leader in the consumption of benzene. Benzene is highly inflammable, toxic and hazardous when exposed to extreme temperatures and pressures. | Published : benzene is a natural constituent of crude oil and is also one of the elementary petrochemicals. Report scope can be customized per your requirements. The benzeneâs derivate ethyl benzene is majorly used in the manufacturing of styrene. Benzene is … 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. 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. There is an increased demand of styrene-based polymers and copolymers in the automotive industry due to its light weight nature. Western Europe Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 14.2. | Format : The benzene market consists of sales of benzene and related services by entities that produce benzene. 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. $ 4000.00 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. Benzene is an aromatic hydrocarbon that is extracted from crude oil through refinery processes. Global benzene and its derivatives market is expected to witness strong growth over the forecast period owing to increasing demand in coating & paints and automotive industries. The global Benzene market is highly competitive in nature in tandem with the high degree of integration across the value chain. Global Benzene Market, Split By Region, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 5.2. Global Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 5. 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. 7332 To understand key trends, Download Sample Report. China Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F,$ Billion, 8.2. Market Segment by Applications, can be divided into Plastics Polymers Others There are 15 Chapters to deeply display the global Benzene market. | SKU CODE : Starting Price : Benzene Market Future Outlook and Potential Analysis. 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. Increasing demand for polyester and low cost of the feedstock are the factors driving the benzene market. Russia Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 19.1. Africa Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 25. In order to provide a safe environment government agencies limit the amount of benzene that can be released in to the environment. The increased use of styrene to drive benzene market. 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. Benzene Market Competitive Landscape, 25.2.3. Research and Markets Logo. Global Benzene Market Competitive Landscape. Global Benzene Market, Segmentation By Derivative, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 4.3. Amid the COVID-19 crisis, the global market for Benzene estimated at 48. Japan Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 10.1. Global Benzene Forecast Market, 2019 - 2023F, 2025F, 2030F, $ Billion, 4.1. 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. Benzene demand is anticipated to grow at a healthy CAGR of 2.9% during the forecast period. Asia-pacific presently leads the consumption of benzene with around 50% share of global consumption. Asia-Pacific Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 7.2. Styrene Polymers are used in various products such as televisions, IT equipment, disposable medical products, like test kits, consumer electronics, like portable speakers, cassette tape housing, etc. South Korea Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 13.1. New York, Jan. 07, 2020 (GLOBE NEWSWIRE) -- The global benzene market is forecast to reach USD 115.42 Billion by 2027, according to a new report by Reports and Data. Usage of plastics like styrene can reduce the weight of vehicles, thereby improving fuel economy. 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. Ethyl benzene is a highly-inflammable colorless liquid with an aromatic odor. 3) By Application: Plastics, Resins, Synthetic Fibers, Rubber Lubricants, 3.1. The “Global Benzene Market” is mainly bifurcated into sub-segments which can provide classified data regarding the latest trends in the market. Alexandria National Refining and Petrochemicals Company (ANRPC), 26. Middle East Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 24.2. February 2020 4 Million Tons in … © 2020. The report is a comprehensive presentation of trends, forecast and dollar values of the global benzene market. Global Benzene Market, Segmentation By Manufacturing Process, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 4.2. In October 2019, Saudi Basic Industries Corp (SABIC) completed merger of its wholly owned affiliates Saudi Petrochemical Company (Sadaf) and Arabian Petrochemical Company (Petrokemya). Germany Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 16.3. Petrokemya is a Saudi Arabian company that produces feedstock chemicals including propylene, ethylene, butene, benzene and butadiene. Market Definition: Global Benzene Market Asia-pacific presently leads the consumption of benzene with around 50% share of global consumption. South America Benzene Market Overview, 21.2. Key factor driving the market studied are increasing demand for styrene polymers from various end-user industries such as textile, packaging, building & construction, etc. 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. The benzene market was strong in the first quarter of 2018, with the benzene to naphtha spread exceeding $300 per mt. 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. 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%. UK Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 15.1. Indonesia Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 12.1. 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. 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. France Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 17.1. To understand geography trends, Download Sample Report. The increasing number of applications of styrene, such as in general-purpose polystyrene, EPS, and ABS, have also contributed to the positive trend that is expected to continue. The technologies developed are expected to help curb the environmental issues. The increase in such technological advances to reduce the emissions will gain traction contributing to the growth of the market. It is a six carbon unsaturated cyclic hydrocarbon with a chemical formula C6H6. The global Benzene market is expected to reach 53,432.9 kilotons by 2018, signifying a firm annualized growth rate of over 3.8%. Benzene is a light, highly flammable, colorless and volatile, liquid aromatic hydrocarbon with a sweet odor. The market for benzene is expected to expand at a CAGR of more than 4% during the forecast period. 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. Asia-Pacific Benzene Market Overview Â, 6.2. The global Linear Alkyl Benzene market is highly fragmented. Downstream expansion is likely to act as an opportunity in the future. Benzene is used as an intermediary chemical in the manufacture of plastics, resin, nylons and synthetic fibers. Growing consumption of Benzene derivatives in the automotive industry for manufacturing synthetic rubber has increased Benzene demand in the global market and demand is anticipated to increase further due to robust growth in the automotive market. It is also anticipated to be the fastest growing market due to increasing demand from end users such as packaging, construction, and electronics & home appliances, which in turn increases the demand for … Stringent safety regulations associated with the manufacturing and transportation of benzene was a major restraint on the market. USA Benzene Market, Segmentation By Application, Historic and Forecast, 2015-2019, 2023F, 2025F, 2030F, $ Billion, 21.1. Benzene Market- Global Market Growth, Supply & Demand. 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