Benzene Market - Latest Market Trends And Industry Forecasts To 2025
According to a new report published by Reports Monitor titled, “ Global Benzene Market, Growth Opportunities, Innovations and Forecast, 2018-2025,” the global benzene market was valued at XX million in 2018, and is projected to reach at XX million by 2025, growing at a CAGR of XX% from 2018 to 2025.
Benzene is an aromatic chemical found in crude oil and gasoline and is used in the manufacturing of various products such as paint, tires, rubbers and more. It is also used as an intermediate chemical for the synthesis of other chemicals such as styrene, phenol, cumene, adipic acid, alkyl benzenes and more.
The demand for benzene is increasing as it is used as a major building block in the manufacturing of industrial compounds, influencing market growth. It is used in the fabrication of products such as polystyrene plastics and engineering plastics, synthetic rubber, nylon products, resins, dyes, pharmaceutical drugs, pesticides, detergents, motor fuels etc. On the contrary, benzene is a carcinogen, hence is use can be dangerous avoiding its application in certain products such as industrial solvent, adhesives and more. Also, the continuous fluctuations in the prices of crude oil are affecting the growth of the market.
The Global Benzene market research report provides key insights on the growth opportunities of this market based on regions, applications and upcoming technologies. It includes detailed analysis of the current market situations such as market size, upcoming developments and investments. Major advancements and key strategies of major companies such as mergers and acquisitions, value chain analysis and swot analysis have also been included in this report. The report has been composed by carrying out in-depth analysis of both primary and secondary data sources.
The global benzene market is segmented on the basis of derivatives and applications. In terms of derivatives obtained from benzene, the market is segmented into alkyl benzene, cumene, cyclohexane, ethyl benzene, nitro benzene and others. On the basis of application, the market is divided into tire/rubber manufacturing, printing/painting, petroleum, plastic, pesticides and others.
The benzene market is growing in Asia Pacific due to rise in industries such as manufacturing, automotive, pharmaceuticals and others. The marketing analysis has taken place across regions North America, Europe, Asia Pacific (APAC) and Latin America, Middle East and Africa.
The key players in this market are: Exxon Mobil Corporation, Shell Chemicals, Sinopec Corporation, BASF SE, Chevron Phillips Chemical Company LP, Indian Oil Corporation, PetroChina Company Ltd. and The Dow Chemical Company.
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