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Benzene Market 2019 | Analysis, Company Profiles, Size, Share, Growth, Trends, and Forecast to 2024

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Benzene Market 2019 | Analysis, Company Profiles, Size, Share, Growth, Trends, and Forecast to 2024

Benzene

This “Benzene Market” report provides a detailed study on market and how it is impacting the industry. The report includes details of emerging trends, growth history, sales channel, manufacturers profiled in business, market share of product, application and regional scope of industry. In addition, the report also mentions opportunities that manufacturers operating in the global Benzene market can use for expanding their business in untapped market to increase their customer base.

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Market Overview:

  • The market for benzene is expected to expand at a CAGR of more than 4.3% during the forecast period of 2019 – 2024. The key factor driving the market studied is the increasing demand for styrene polymers from various end-user industries such as textile, packaging, building & construction, etc.
  • – Detrimental effects of benzene exposure are likely to hinder the growth of the market studied.
  • – Downstream expansion is likely to act as an opportunity in the future.<

    Benzene Market Covers Manufacturers:

  • BASF SE
  • Braskem
  • Chevron Phillips Chemical Company
  • China Petrochemical Corporation
  • CPC Corporation Limited
  • Eastman Chemical Company
  • Exxon Mobil Corporation
  • Flint Hills Resources
  • INEOS
  • JXTG Nippon Oil & Energy Corporation
  • LG Chem
  • LyondellBasell Industries Holdings B.V.
  • Marathon Petroleum Company
  • Maruzen Petrochemical
  • Mitsubishi Chemical Corporation
  • Reliance Industries Limited
  • Royal Dutch Shell PLC
  • SABIC
  • SK global chemical Co., Ltd

    Scope of the Report:

  • This report studies the global Benzene market size, industry status and forecast, competition landscape and growth opportunity.

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    Key Market Trends:

    Increasing Demand for Ethylbenzene

    – Ethyl benzene is a highly-inflammable colorless liquid with an aromatic odor. It is majorly used in the manufacturing of styrene.
    – Styrene is used in the production of various products, such as polystyrene, acrylonitrile-butadiene-styrene (ABS), styrene-acrylonitrile (SAN) resins, styrene-butadiene elastomers, latexes, and unsaturated polyester resins.
    – 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.
    – The demand for styrene is continuously growing in the Asia-Pacific, owing to increased demand for rubber tires in the regions.
    – Apart from styrene, ethylbenzene is also used as a solvent in fuels and as an intermediate for other chemical applications. These applications are likely to support the demand for and growth of ethylbenzene.
    – 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.
    – Therefore, the aforementioned factors are expected to increase the demand for benzene in the forecast period.

    Asia-Pacific Region to Dominate the Market

    – Asia-pacific presently leads the consumption of benzene with around 50% share of global consumption.
    – 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.
    – The growth of these end-user industries, especially in emerging markets, like China, India is propelling the growth of styrene, which in turn is responsible for growth in usage of Benzene, as it is one of the key raw materials for styrene production.
    – Thus, the rising demand from various end-user industries is expected to drive the market in the region, during the forecast period.

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    Target Audience of Benzene Market:

    • Manufacturer / Potential Investors
    • Traders, Distributors, Wholesalers, Retailers, Importers and Exporters.
    • Association and government bodies.

    Key Reasons to Benzene Market Report:

    • Analyzing various perspectives of the Benzene market with the help of Porter’s five forces analysis
    • The End User that is expected to dominate the Benzene market is analyzed in detail
    • The regions which are expected to witness fastest growth during the forecast period are analyzed and estimated for growth of Benzene market.
    • Identify the latest developments, market shares and strategies employed by the major market players.
    • Regional analysis of Benzene market studied, during the forecast period
    • The segments that are expected to dominate the Benzene market studied.

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