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Benzene Market Size, Industry Demand, Growth

[218 Pages Report] Benzene market is an organic compound with molecular formula C6H6, which is among the most consumed petrochemicals used in the industry. It is an important feedstock to manufacture various chemicals that further serve diverse industries including building and construction, textile, electrical and electronics, and automotive.

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The major manufacturers of benzene include China Petroleum & Chemical Corporation (Sinopec, China), Exxon Mobil Corporation (U.S.), Royal Dutch Shell Plc. (The Netherlands), The Dow Chemical Company (U.S.), JX Holdings Inc. (Japan), China National Petroleum Corporation (China), Total S.A. (France), Saudi Basic Industries Corporation (Saudi Arabia), BP Plc (U.K), and BASF SE (Germany).

Main applications of the products in benzene market include the manufacturing of ethylbenzene, cyclohexane, cumene, nitrobenzene, and alkylbenzene. It is also utilized for manufacturing maleic anhydride and as a solvent.

The Benzene market has grown considerably during the past few years and is expected to grow at a considerable pace in the next five years, mainly driven by the growing demand in the Asia-Pacific region. The Asia-Pacific is the biggest consumer of benzene, followed by Europe and North America, which consumed more than 45.0% of the total demand in 2012. China is the biggest consumer in the global industry, and is also among the fastest growing markets with an estimated CAGR of about 4.8% from 2013 to 2018. The European and North American markets are comparatively mature with a demand growth well below the average market growth. ROW is the fastest growing geographic region that is mainly due to rising investments in Saudi Arabia downstream sector.

This study basically aims to estimate the benzene market & its derivatives for 2013, to project the expected demand of the same by 2018. This market research study provides a detailed qualitative and quantitative analysis of the market. It provides a comprehensive review of major market drivers, restraints, opportunities, winning imperatives, challenges, and key issues in the market. The market is further segmented and projected for regions segmented as the Asia-Pacific, North America, Europe and ROW, which is further segmented for key countries in each region. We have used various secondary sources such as encyclopedia, directories, and databases to identify and collect information useful for this extensive commercial study of the global industry and all of its components. The primary sources–experts from related industries and suppliers have been interviewed to obtain and verify critical information as well as to assess the future prospects of benzene and its derivatives.

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Competitive scenarios of top players in the benzene market & its derivatives have been discussed in detail. We have also profiled leading players of this industry with their recent developments and other strategic industry activities. These include: China Petroleum & Chemical Corporation (Sinopec, China), Exxon Mobil Corporation (U.S.), Royal Dutch Shell Plc. (The Netherlands), The Dow Chemical Company (U.S.), JX Holdings Inc. (Japan), China National Petroleum Corporation (China), Total S.A. (France), Saudi Basic Industries Corporation (Saudi Arabia), BP Plc (U.K), and BASF SE (Germany).

Scope of the report:

This research report categorizes the benzene market on the basis of applications and geography along with forecast of volumes, revenue and analyzing trends in each of the submarkets. It also contains the market for various derivatives of these products at a country level.

On the basis of applications: The market is segmented on the basis of industry applications such as ethylbenzene, cumene, cyclohexane, nitrobenzene, and alkylbenzene. Each application is further described in detail in the report with volume and revenue forecasts for each application.

On the basis of geography: A country level segmentation is done for both benzene market and its derivatives for regions segmented as the Asia-Pacific, North America, Europe, & ROW. Further for key countries in each region that include the U.S., Canada, Mexico, China, Japan, Taiwan, South Korea, India, Malaysia, Singapore, Thailand, Germany, France, The Netherlands, Italy, Spain, Russia, Belgium, U.K, Poland, Czech Republic, Brazil, Argentina, Saudi Arabia, Kuwait, and Iran.

The global Benzene market is expected to reach 53,432.9 kilotons by 2018, signifying a firm annualized growth rate of over 3.8%.

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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.

Benzene is a key building block to manufacture various chemicals such as ethylbenzene, cyclohexane, cumene, nitrobenzene, and alkylbenzene that are further used by a wide range of end-user industries such as building and construction, textile, transportation, and electrical and electronics.

Currently, the Asia-Pacific is the largest consumer of benzene and all of its downstream derivatives, which consumed more than 45.0% of the total consumption in 2012. Among all the countries, China dominates the benzene market, which consumed the maximum volume of benzene in 2012. The market volume consumption is these products comparatively low in the ROW region, but is expected show the highest CAGR from 2013 to 2018, followed by the Asia-Pacific.

The overall demand is driven by the producers of ethylbenzene, cyclohexane, and cumene consuming almost 82.0% of the total demand in 2012. Cumene manufacturing segment is expected to be the strongest growth segment which is primarily driven by growing demand for phenol and acetone. The budding construction and automotive industry is pushing the demand for styrenic polymers, which, is driving the demand for ethylbenzene at a notable pace.

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