Global Benzene Market to Reach US$ 74.7 Billion by 2027, Impelled by Rising Demand for Benzene Derivatives

June 28, 2022

According to the latest report by IMARC Group, titled "Benzene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027," the global benzene market reached a value of US$ 59.6 Billion in 2021. Benzene refers to an organic chemical compound that is a by-product of oil-refining processes, solvents and chemical intermediates. It is a colorless liquid aromatic hydrocarbon with highly flammable, volatile properties and a gasoline-like odor. It is generally derived from various sources, including forest fires, cigarette smoke, gasoline and volcanoes. Besides this, it is also extracted from crude oil via using chemicals, pressure and heat in the refinery for separating the benzene content. The growing adoption of synthetic fabrics across the globe owing to their lustrous and resistant property to chemicals and oils is creating a positive demand for benzene.   

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.

Global Benzene Market Trends:

The global market is primarily driven by the increasing product demand from the pharmaceutical industry. This is supported by the rising demand for benzene-derived intermediates in the manufacturing of drugs, which is creating a positive market outlook. Moreover, the widespread adoption of packaging materials across industrial verticals is propelling the demand for benzene across the globe. Additionally, the growing investments by private and public agencies in the expansion of petrochemical infrastructure are impacting the market growth favorably. Furthermore, the escalating adoption of styrene in the production process of polystyrene resin, latex and synthetic rubber, is, in turn, catalyzing the uptake of benzene. Besides this, the widespread usage of styrene in the manufacturing of vehicles is acting as another major growth-inducing factor. Other factors, including rapid industrialization, the increasing utilization of benzene derivatives for producing paints and lacquers, the augmenting preference for thinners and furniture wax, and extensive research and development (R&D) activities conducted by key players, are also influencing the market. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 74.7 Billion by 2027, exhibiting a CAGR of 3.7% during 2022-2027.

Market Summary: 

  • On the basis of the derivative, the market has been categorized into ethylbenzene, cumene, cyclohexane, nitrobenzene, linear alkylbenzene, maleic anhydride and others.
  • Based on the manufacturing process, the market has been segmented into pyrolysis steam cracking of naphtha, catalytic reforming of naphtha, toluene hydrodealkylation, toluene disproportionation and from biomass.
  • On the basis of the application, the market has been classified into plastics, resins, synthetic fibers, rubber lubricants and others.
  • Based on the region, the market has been divided into Asia Pacific (China, India, Japan and South Korea), Europe (Germany, UK, France and Italy), North America (the United States and Canada), the Middle East and Africa (Saudi Arabia and South Africa) and Latin America (Brazil and Argentina).
  • The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of these players include BASF, Sinopec, Royal Dutch Shell, China National Petroleum Corporation, DuPont, Saudi Basic Industries Corporation, China Petroleum & Chemical Corporation, ExxonMobil Corporation, JX Holdings, BP, Borealis AG, Braskem, Repsol and Arsol Aromatics GmbH & Co. KG. 


About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us

IMARC Group
30 N Gould St, Ste R
Sheridan, WY 82801, USA
Website: https://www.imarcgroup.com/
Email: sales@imarcgroup.com
Americas: +1-631-791-1145 | Europe & Africa: +44-753-713-2163 | Asia: +91-120-433-0800

Global Benzene Market to Reach US$ 74.7 Billion by 2027, Impelled by Rising Demand for Benzene Derivatives
Select Licence Type



Benefits of Customization

Personalize This Research

Triangulate with your Data

Get Data as per your Format and Definition

Gain a Deeper Dive into a Specific Application, Geography, Customer or Competitor

Any level of Personalization

Get in Touch With Us
UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Bayer AH

It was indeed a great experience to work with IMARC on the assignment on Aqua market. The team had done a fantastic job in terms of what was expected, what was assured and what was the result… the report gave us many insights and market know how which allowed us to work on our strength and define exact strategies…

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More
KRISHAK BHARTI CO-OP LTD

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More
Stax

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More