Global Benzene Market - Trends, COVID-19 impact and Growth Forecasts to 2029
Global Benzene Market by application (Ethylbenzene, Cumene, Cyclohexane, Nitrobenzene, Alkylbenzene, Maleic Anhydride, Chlorobenzene, and others), by process (Pygas, Reformer, TDP, Coal, HDA, and others), by end-use industry (Specialty Chemicals, Automotive, Building and Construction, Textile and others) by region (Asia-Pacific, North America, Europe, South America, Middle East and Africa), with forecasts till 2029 (value and volume)
ChemIntel360’s global Benzene market study is a 212 page report containing in-depth analysis on historical and forecasted spending, consumption patterns in the sector and related market dynamics such as trends, drivers and challenges. The study offers granular value and volume data from a global, regional, applications, and end-use industry perspective.
The global Benzene market is valued at US$90.4 billion in 2021 and is expected to grow at a CAGR of 3.6% during the forecast period (2022-2029), mainly due the growing demand of the chemical in automotive and paints and coatings industries.
For the purpose of this study, we have considered the historical period to run through 2018-2021 and the forecast period from 2022-2029.
Figure 1: Global Benzene Market during 2018-2029 in US$ billion
Key insights from the Global Benzene report
Insights on Application
Benzene is an aromatic, colorless, and highly combustible hydrocarbon extracted from crude oil through the refinery process and is used to make plastics, resins, synthetic fibers, rubber lubricants, dyes, detergents, drugs, pesticides, etc. The Benzene market is classified into Ethylbenzene, Cumene, Cyclohexane, Nitrobenzene, Alkylbenzene, Maleic Anhydride, Chlorobenzene, and others based on application.
Ethylbenzene was the largest segment for Benzene in 2021 with a market share of 49%. One of the major Benzene derivatives, Ethylbenzene is a flammable colorless liquid used to manufacture Styrene. Styrene polymers have various applications in end-user industries such as paint and coatings, foam and films, construction, electrical and electronics, and textile.
Cumene, commonly known as Isopropylbenzene, is used as an intermediate to produce Acetone and Phenol, two chemicals that are primarily used in plastics production. Additionally, Cumene is used as a solvent in manufacturing paints, lacquers, and enamels.
Further, Cyclohexane is used to produce intermediates for nylon used in clothing, tents and carpets, and thermoplastics. It is also used as a solvent in chemical and industrial processes. Likewise, Nitrobenzene is used to produce lubricating oils for motors and machinery.
Figure 2: Global Benzene Market by Application in 2021
Insights on Process
Benzene can be manufactured using various laboratory-based and industrial processes. It is produced primarily from Pyrolysis Gasoline (Pygas) and Naphtha Reformate and obtained through steam cracking of Naptha, Gasoil, or condensates. This process is typically followed in European countries. Pygas process accounted for 38% of the market.
Commercially, Benzene can be also be produced by recovering it from coal tar using the distillation process. Another popular method of Benzene production is through the selective Disproportionation of Toluene (TDP) in which Benzene is coproduced from Paraxylene (PX)-rich Xylenes stream. With strict regulations limiting the permissible level of benzene/aromatics in fuels, the gasoline pool has become one of the preferred sources of Benzene extraction and production.
Another process of manufacturing Benzene, called the Hydrodealkylation (HDA) of Toluene, is often deployed with the demand outpaces supply. Benzene prices need to be high enough to justify this costly manufacturing process.
Figure 3: Global Benzene Market by process in 2021
Insights on End Use Industry
Benzene and its derivatives have multiple applications across many end-use industries such as specialty chemicals, automotive, building and construction, textile, etc.
The specialty chemicals segment held the largest revenue share of 40% in the Benzene market in 2021. Benzene is extensively used in manufacturing resins, synthetic fibers, plastics, dyes, rubber lubricants, and pesticides. Benzene derivatives are used in the automotive industry for manufacturing synthetic rubber and high-performance plastics utilized to make auto components and body parts.
Benzene is used to manufacture construction industry products such as adhesives, paints, flooring, fiberglass, sealants, and coatings. The increasing demand from the construction industry is expected to propel the growth in Benzene market.
Furthermore, in the textile industry, Benzene is used in dyestuffs, pigment printing emulsion concentrates, production of nylon and other synthetic fibers.
Figure 4: Global Benzene Market by End-Use Industry in 2021
Regional Insights
Asia-Pacific was the largest market for Benzene in 2021, mainly due to growing demand from end-user industries such as electronics, home appliances, packaging, and construction in India, China, and other ASEAN countries. It accounted for 59.4% of the market in 2021.
The growth of the construction and automotive industry, especially in emerging countries such as India and China, is expected to boost the demand for Benzene in the region which is extensively used as a raw material in these industries. Benzene is used to manufacture some of the construction industry products such as adhesives, paints, flooring, and fiberglass. It is used to manufacture automotive industry products, such as nylon tires, seats, and others.
Europe is the second-largest market for Benzene due to its increased usage in the production of plastics for automotive parts. Germany is the leading automotive manufacturer in Europe. Likewise, North America is very close to Europe in Benzene consumption, mainly due to the presence of extensive oil and gas exploration activities in the region.
Figure 5: Global Benzene Market by Region in 2021
Insights on key countries:
The Chinese market was valued at US$16.3 billion for the same year. Benzene is widely utilized in the automotive industry as a raw material for component parts development. In addition, robust demand of the material in the construction sector is expected to contribute to the growth of the Chinese market.
The U.S market was valued at US$10.7 billion in 2021. Growing use of Benzene in the construction, and packaging products would contribute to the growth of the market. In addition, increasing demand of the product in the electronics sector would drive the growth of the country.
Figure 6: Global Benzene Market by Key Countries in 2021
Market dynamics
Trend
Benzene manufacturers are trying to find cost-effective and quicker production processes. Traditionally, Benzene was extracted through the distillation of light oils produced during the manufacturing of coke. However, this process is now being replaced by other viable alternatives such as steam cracking of liquid petroleum feedstocks, Hydrodealkylation of Toluene and Toluene Disproportionation. Enhancement in Benzene production technology is expected to lower the cost of production and bring in operational efficiencies for the market participants.
Drivers
The growing demand for Benzene from various end-user industries such as textile, building and construction, electrical and electronics, and automotive is driving the market growth. Benzene is primarily used as a feedstock in manufacturing organic chemicals such as Styrene, Phenol, Cyclohexane, Aniline, Maleic Anhydride, Alkylbenzenes, and Chlorobenzenes. Majority of the demand from these end-user industries is for Ethylbenzene, Cumene, Cyclohexane, and Nitrobenzene, accounting to 90% of annual Benzene consumption.
Further, the growing demand for plastics is expected to drive the growth in the global Benzene market. One of the primary uses of Benzene is in the production of Ethylbenzene, most of which is consumed in the production of Styrene, which in turn is converted into Polystyrene and various Styrene Copolymers, Latexes, and Resins. Benzene is also used to manufacture Cumene (or Isopropylebenzene) to produce Phenol, utilized extensively in manufacturing plastics.
Benzene also acts as an intermediate in producing chemicals such as hydroquinone, anthraquinone, benzene sulfonic acid, benzene hexachloride, and other products used in dyes, insecticides, etc. The demand for these chemicals from end-user industries is expected to drive the global demand for Benzene during the forecast period.
Challenges
Benzene is a harmful chemical and hazardous to human health. Studies indicate that exposure to Benzene increases the risk of developing Leukemia and other blood-related disorders. While traces of Benzene are found in glues, adhesives, cleaning products, paint strippers, air gets polluted with low levels of Benzene from vehicle exhausts, tobacco smoke, and industrial emissions. Furthermore, a recent product testing exercise conducted in the U.S. found out high levels of Benzene in many hand sanitizers/cleaners that flooded the market due to COVID-19. Due to these factors the use of Benzene as a solvent is reducing in many countries, with end-user industries preferring safer alternatives such as Cyclohexane and Pentane. For instance, the European Union has put regulations on the use of Benzene and its derivatives in applications such as solvent and pesticides.
Opportunities
The APAC region is likely to dominate the market in terms of volume. The region's burgeoning food and e-commerce industry is expected to drive the demand for Polystyrene-based packaging. The resurgence in the building and construction activities in APAC post-COVID-19 is expected to drive the demand for Styrene Polymers, which is likelyto propel growth in the Benzene market.
Moreover, due to its octane-enhancing and anti-know properties, Benzene is added to the unleaded gasoline to improve performance and mileage. The growing demand for petroleum products in APAC is expected to lead investments in setting up downstream refineries, increased production, and a surge in demand for Benzene in the region.
COVID-19 Impact
COVID-19 pandemic has adversely affected the global Benzene market. Supply chain of major end-user industries such as automotive was disrupted during the pandemic, resulting in a decline in demand for Benzene. Due to the temporary shutdown in automotive manufacturing units, the need for auto components such as paints, tires, foams, etc., made from Benzene derivates, plummeted during the pandemic.
However, due to the pandemic, the consumption of drugs such as Paracetamol, which uses a Benzene intermediate called Chlorobenzene, has increased, which had a positive impact on Benzene demand from the pharmaceutical sector.
Key Companies
Some of the companies operating in this market are Exxon Mobil Corporation, JX Holdings Inc., BASF SE, China Petroleum & Chemical Corporation,China National Petroleum Corporation, The Dow Chemical Company,Royal Dutch Shell Plc.,Total S.A., and Saudi Basic Industries Corporation, and BP Plc.
Developments
In August 2020, ExxonMobil Corporation announced its plan to cut the aromatics (Paraxylene, Benzene, Toluene, and Orthoxylene) output starting January 2021. The decision was taken due to oversupply conditions and lower margins.
Scope of the Global Benzene report
This report provides analysis of the latest industry trends and estimates revenue and volume growth at global, regional, and country levels. For this report, ChemIntel360 has segmented the global Benzene market based on formulation, application and region.
Insights on application (Volume in Kilotons; Revenue in US$ billion/ million, 2018-2029)
- Ethylbenzene
- Cumene
- Cyclohexane
- Nitrobenzene
- Alkylbenzene
- Maleic Anhydride
- Chlorobenzene
- Others
Insights on Process (Volume in Kilotons; Revenue in US$ billion/ million, 2018-2029)
- Pygas
- Reformer
- TDP
- Coal
- HDA
- Others
Insights on End use Industry (Volume in Kilotons; Revenue in US$ billion/ million, 2018-2029)
- Specialty chemicals
- Automotive
- Building and Construction
- Textile
- Others
Insights on Regional market (Volume in Kilotons; Revenue in US$ billion/ million, 2018-2029)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- Asia Pacific
- China
- India
- Japan
- South America
- Brazil
- Argentina
- Colombia
- Middle East and Africa
- Saudi Arabia
- UAE
- South Africa
Table of Contents
Executive summary
Table of contents
List of tables
List of figures
Chapter-1: Introduction
1.1 Objective of the report
1.2 Market definition
1.3 Scope of the report
1.3.1 Markets covered
1.3.2 Years covered
1.4 Conventions
1.5 Stakeholder
1.6 Summary methodology
1.7 Data collection
1.7.1 Secondary research
1.7.2 Primary research
1.8 Market size estimation
1.8.1 Bottom-up approach
1.8.2 Top-down approach
1.9 Data triangulation
1.10 Assumptions and limitations
1.11 COVID-19 impact
Chapter-2: Market Overview
2.1 Introduction
2.2 Covid impact on the market
2.3 Market Dynamics
2.3.1 Drivers
2.3.2 Restraints
2.3.3 Opportunities
2.3.4 Challenges
2.4 Key Players
2.5 Trends
2.6 Recent Developments
Chapter-3: Segment Analysis
3.1.1 Market overview, 2018-2029 (US$ billion)
3.1.2 Market overview, 2018-2029 (million tons)
3.2.1 Benzene Market: Packaging (US$ billion)
3.2.2 Benzene Market: Packaging (million tons)
3.3.1 Benzene Market: Building & Construction (US$ billion)
3.3.2 Benzene Market: Building & Construction (US$ million tons)
3.4.1 Benzene Market: Electrical & Electronics (US$ billion)
3.4.2 Benzene Market: Electrical & Electronics (million tons)
3.5.1 Benzene Market: Disposables (US$ billion)
3.5.2 Benzene Market: Disposables (million tons)
3.6.1 Benzene Market: Others (US$ billion)
3.6.2 Benzene Market: Others (million tons)
Chapter-4: Regional Analysis
4.1 Market overview, 2018-2029
4.2.1 Market overview, 2018-2029 (US$ billion)
4.2.2 Market overview, 2018-2029 (million tons)
4.3.1 Benzene Market: Asia Pacific (US$ billion)
4.3.2 Benzene Market: Asia Pacific (million tons)
4.4.1 Benzene Market: North America (US$ billion)
4.4.2 Benzene Market: North America (US$ billion)
4.5.1 Benzene Market: Europe (US$ billion)
4.5.2 Benzene Market: Europe (million tons)
4.6.1 Benzene Market: South America (US$ billion)
4.6.2 Benzene Market: South America (million tons)
4.7.1 Benzene Market: Middle East and Africa (US$ billion)
4.7.2 Benzene Market: Middle East and Africa (million tons)
Chapter-5: Regional Market Analysis by Application
5.1 Benzene regional Market application composition
5.1.1 Benzene Market: APAC Packaging (US$ billion)
5.1.2 Benzene Market: APAC Packaging (million tons)
5.2.1 Benzene Market: APAC Building & Construction (US$ billion)
5.2.2 Benzene Market: APAC Building & Construction (million tons)
5.3.1 Benzene Market: APAC Electrical & Electronics (US$ billion)
5.3.2 Benzene Market: APAC Electrical & Electronics (million tons)
5.4.1 Benzene Market: APAC Disposables (US$ billion)
5.4.2 Benzene Market: APAC Disposables (million tons)
5.5.1 Benzene Market: APAC Others (US$ billion)
5.5.2 Benzene Market: APAC Others (million tons)
5.6.1 Benzene Market: North America Packaging (US$ billion)
5.6.2 Benzene Market: North America Packaging (million tons)
5.7.1 Benzene Market: North America Building & Construction (US$ billion)
5.7.2 Benzene Market: North America Building & Construction (million tons)
5.8.1 Benzene Market: North America Electrical & Electronics (US$ billion)
5.8.2 Benzene Market: North America Electrical & Electronics (million tons)
5.9.1 Benzene Market: North America Disposables (US$ billion)
5.9.2 Benzene Market: North America Disposables (million tons)
5.10.1 Benzene Market: North America Others (US$ billion)
5.10.2 Benzene Market: North America Others (million tons)
5.11.1 Benzene Market: Europe Packaging (US$ billion)
5.11.2 Benzene Market: Europe Packaging (million tons)
5.12.1 Benzene Market: Europe Building & Construction (US$ billion)
5.12.2 Benzene Market: Europe Building & Construction (million tons)
5.13.1 Benzene Market: Europe Electrical & Electronics (US$ billion)
5.13.2 Benzene Market: Europe Electrical & Electronics (million tons)
5.14.1 Benzene Market: Europe Disposables (US$ billion)
5.14.2 Benzene Market: Europe Disposables (million tons)
5.15.1 Benzene Market: Europe Others (US$ billion)
5.15.2 Benzene Market: Europe Others (million tons)
5.16.1 Benzene Market: South America Packaging (US$ billion)
5.16.2 Benzene Market: South America Packaging (million tons)
5.17.1 Benzene Market: South America Building & Construction (US$ billion)
5.17.2 Benzene Market: South America Building & Construction (million tons)
5.18.1 Benzene Market: South America Electrical & Electronics (US$ billion)
5.18.2 Benzene Market: South America Electrical & Electronics (million tons)
5.19.1 Benzene Market: South America Disposables (US$ billion)
5.19.2 Benzene Market: South America Disposables (million tons)
5.20.1 Benzene Market: South America Others (US$ billion)
5.20.2 Benzene Market: South America Others (million tons)
5.21.1 Benzene Market: Middle East and Africa Packaging (US$ billion)
5.21.2 Benzene Market: Middle East and Africa Packaging (million tons)
5.22.1 Benzene Market: Middle East and Africa Building & Construction (US$ billion)
5.22.2 Benzene Market: Middle East and Africa Building & Construction (million tons)
5.23.1 Benzene Market: Middle East and Africa Electrical & Electronics (US$ billion)
5.23.2 Benzene Market: Middle East and Africa Electrical & Electronics (million tons)
5.24.1 Benzene Market: Middle East and Africa Disposables (US$ billion)
5.24.2 Benzene Market: Middle East and Africa Disposables (million tons)
5.25.1 Benzene Market: Middle East and Africa Others (US$ billion)
5.25.2 Benzene Market: Middle East and Africa Others (million tons)
Chapter-6: Markets Analysis by Type
6.1 Benzene regional Market application composition
6.1.1 Benzene Market: APAC High Impact Benzene (US$ billion)
6.1.2 Benzene Market: APAC High Impact Benzene (million tons)
6.2.1 Benzene Market: APAC General Purpose Benzene (US$ billion)
6.2.2 Benzene Market: APAC General Purpose Benzene (million tons)
6.3.1 Benzene Market: APAC Expanded Benzene (US$ billion)
6.3.2 Benzene Market: APAC Expanded Benzene (million tons)
6.4.1 Benzene Market: North America High Impact Benzene (US$ billion)
6.4.2 Benzene Market: North America High Impact Benzene (million tons)
6.5.1 Benzene Market: North America General Purpose Benzene (US$ billion)
6.5.2 Benzene Market: North America General Purpose Benzene (million tons)
6.6.1 Benzene Market: North America Expanded Benzene (US$ billion)
6.6.2 Benzene Market: North America Expanded Benzene (million tons)
6.7.1 Benzene Market: Europe High Impact Benzene (US$ billion)
6.7.2 Benzene Market: Europe High Impact Benzene (million tons)
6.8.1 Benzene Market: Europe General Purpose Benzene (US$ billion)
6.8.2 Benzene Market: Europe General Purpose Benzene (million tons)
6.9.1 Benzene Market: Europe Expanded Benzene (US$ billion)
6.9.2 Benzene Market: Europe Expanded Benzene (million tons)
6.10.1 Benzene Market: South America High Impact Benzene (US$ billion)
6.10.2 Benzene Market: South America High Impact Benzene (million tons)
6.11.1 Benzene Market: South America General Purpose Benzene (US$ billion)
6.11.2 Benzene Market: South America General Purpose Benzene (million tons)
6.12.1 Benzene Market: South America Expanded Benzene (US$ billion)
6.12.2 Benzene Market: South America Expanded Benzene (million tons)
6.13.1 Benzene Market: Middle East and Africa High Impact Benzene (US$ billion)
6.13.2 Benzene Market: Middle East and Africa High Impact Benzene (million tons)
6.14.1 Benzene Market: Middle East and Africa General Purpose Benzene (US$ billion)
6.14.2 Benzene Market: Middle East and Africa General Purpose Benzene (million tons)
6.15.1 Benzene Market: Middle East and Africa Expanded Benzene (US$ billion)
6.15.2 Benzene Market: Middle East and Africa Expanded Benzene (million tons)
Chapter-7: Key Markets Analysis
7.1 Benzene key Market size composition
7.1.1 Market overview, 2018-2029 (US$ billion)
7.1.2 Market overview, 2018-2029 (million tons)
7.2.1 Benzene Market: US, North America (US$ billion)
7.2.2 Benzene Market: US, North America (million tons)
7.3.1 Benzene Market: Canada, North America (US$ billion)
7.3.2 Benzene Market: Canada, North America (million tons)
7.4.1 Benzene Market: Mexico, North America (US$ billion)
7.4.2 Benzene Market: Mexico, North America (million tons)
7.5.1 Benzene Market: Germany, Europe (US$ billion)
7.5.2 Benzene Market: Germany, Europe (million tons)
7.6.1 Benzene Market: Italy, Europe (US$ billion)
7.6.2 Benzene Market: Italy, Europe (million tons)
7.7.1 Benzene Market: France, Europe (US$ billion)
7.7.2 Benzene Market: France, Europe (million tons)
7.8.1 Benzene Market: China, Asia Pacific (US$ billion)
7.8.2 Benzene Market: China, Asia Pacific (million tons)
7.9.1 Benzene Market: India, Asia Pacific (US$ billion)
7.9.2 Benzene Market: India, Asia Pacific (million tons)
7.10.1 Benzene Market: Japan, Asia Pacific (US$ billion)
7.10.2 Benzene Market: Japan, Asia Pacific (million tons)
7.11.1 Benzene Market: Brazil, South America (US$ billion)
7.11.2 Benzene Market: Brazil, South America (million tons)
7.12.1 Benzene Market: Argentina, South America (US$ billion)
7.12.2 Benzene Market: Argentina, South America (million tons)
7.13.1 Benzene Market: Colombia, South America (US$ billion)
7.13.2 Benzene Market: Colombia, South America (million tons)
7.14.1 Benzene Market: South Africa, Middle East and Africa (US$ billion)
7.14.2 Benzene Market: South Africa, Middle East and Africa (million tons)
7.15.1 Benzene Market: UAE, Middle East and Africa (US$ billion)
7.15.2 Benzene Market: UAE, Middle East and Africa (million tons)
7.16.1 Benzene Market: Saudi Arabia, Middle East and Africa (US$ billion)
7.16.2 Benzene Market: Saudi Arabia, Middle East and Africa (million tons)
Chapter 8: Company Profile
8.1 Exxon Mobil Corporation
8.2 JX Holdings Inc.
8.3 BASF SE
8.4 China Petroleum & Chemical Corporation
8.5 China National Petroleum Corporation
8.6 The Dow Chemical Company
8.7 Royal Dutch Shell Plc.
8.8 Total S.A.
8.9 Saudi Basic Industries Corporation
8.10 BP Plc
Appendix
Glossary of terms
Disclaimer
About Us
List of Tables
Table 1: By value: Benzene Market by application during 2018-2029 in US$ billion
Table 2: By volume: Benzene Market by segment during 2018-2029 in million tons
Table 3: By value: Benzene Market by region during 2018-2029 in US$ billion
Table 4: By volume: Benzene Market by region during 2018-2029 in
million tons
Table 5: By Value: key Benzene Markets in US$ billion
Table 6: By Volume: key Benzene Markets in million tons
List of Figures
Figure 1: By value: Benzene Market segment share during 2018-2029 in %
Figure 2: By volume: Benzene Market segment share during 2018-2029 in %
Figure 3: By value: Share of Packaging in Benzene Market during 2018-2029 in %
Figure 4: By value: Packaging Market segment during 2018-2029 in US$ billion
Figure 5: By volume: Share of Packaging Market during 2018-2029 in %
Figure 6: By volume: Packaging Market during 2018-2029 in million tons
Figure 7: By value: Share of Building & ConstructionMarket during 2018-2029 in %
Figure 8: By value: Building & ConstructionMarket during 2018-2029 in US$ billion
Figure 9: By volume: Share of Building & ConstructionMarket during 2018-2029 in %
Figure 10: By volume: Building & ConstructionMarket during 2018-2029 in million tons
Figure 11: By value: Electrical & Electronics Market during 2018-2029 in US$ billion
Figure 12: By value: Share of Electrical & Electronics Market during 2018-2029 in %
Figure 13: By volume: Electrical & Electronics Market during 2018-2029 in million tons
Figure 14: By volume: Share of Electrical & Electronics Market during 2018-2029 in %
Figure 15: By value: Disposables Market during 2018-2029 in US$ billion
Figure 16: By value: Share of Disposables Market during 2018-2029 in %
Figure 17: By volume: Disposables Market during 2018-2029 in million tons
Figure 18: By volume: Share of Disposables Market during 2018-2029 in %
Figure 19: By value: Others Market during 2018-2029 in US$ billion
Figure 20: By value: Share of Others Market during 2018-2029 in %
Figure 21: By volume: Others Market during 2018-2029 in million tons
Figure 22: By volume: Share of Others Market during 2018-2029 in %
Figure 23: By Value: key Benzene regional Markets in US$ billion
Figure 24: By Volume: key Benzene regional Markets in million tons
Figure 25: By value: Benzene Market region share during 2018-2029 in %
Figure 26: By volume: Benzene Market region share during 2018-2029 in %
Figure 27: By value: Share of Asia Pacific Market during 2018-2029 in %
Figure 28: By value: Asia Pacific Market during 2018-2029 in US$ billion
Figure 29: By volume: Share of Asia Pacific Market during 2018-2029 in %
Figure 30: By volume: APAC Market during 2018-2029 in million tons
Figure 31: By value: Share of North America Market during 2018-2029 in %
Figure 32: By value: North America Market during 2018-2029 in US$ billion
Figure 33: By volume: Share of North America Market during 2018-2029 in %
Figure 34: By volume: North America Market during 2018-2029 in million tons
Figure 35: By value: Share of Europe Market during 2018-2029 in
Figure 36: By value: Europe Market during 2018-2029 in US$ billion
Figure 37: By volume: Share of Europe Market during 2018-2029 in %
Figure 38: By volume: Europe Market during 2018-2029 in million tons
Figure 39: By value: Share of South America Market during 2018-2029 in %
Figure 40: By value: South America Market during 2018-2029 in US$ billion
Figure 41: By volume: Share of South America Market during 2018-2029 in %
Figure 42: By volume: South America Market during 2018-2029 in million tons
Figure 43: By value: Share of Middle East and AfricaMarket during 2018-2029 in %
Figure 44: By value: Middle East and Africa Market during 2018-2029 in US$ billion
Figure 45: By volume: Share of Middle East and Africa Market during
2018-2029 in %
Figure 46: By volume: Middle East and Africa Market during 2018-2029
in million tons
Figure 47: By value: Share of APAC Packaging Market during 2018-2029 in %
Figure 48: By value: APAC Packaging Market during 2018-2029 in US$ billion
Figure 49: By volume: Share of APAC Packaging Market during 2018-2029 in %
Figure 50: By volume: APAC Packaging Market during 2018-2029 in million tons
Figure 51: By value: Share of APAC Building & ConstructionMarket during 2018-2029 in %
Figure 52: By value: APAC Building & ConstructionMarket during 2018-2029 in US$ billion
Figure 53: By volume: Share of APAC Building & ConstructionMarket during 2018-2029 in %
Figure 54: By volume: APAC Building & ConstructionMarket during 2018-2029 in million tons
Figure 55: By value: Share of APAC Electrical & Electronics Market during 2018-2029 in %
Figure 56: By value: APAC Electrical & Electronics Market during 2018-2029 in US$ billion
Figure 57: By volume: Share of APAC Electrical & Electronics Market during 2018-2029 in %
Figure 58: By volume: APAC Electrical & Electronics Market during 2018-2029 in million tons
Figure 59: By value: Share of APAC Disposables Market during 2018-2029 in %
Figure 60: By value: APAC Disposables Market during 2018-2029 in US$ billion
Figure 61: By volume: Share of APAC Disposables Market during 2018-2029 in %
Figure 62: By volume: APAC Disposables Market during 2018-2029 in million tons
Figure 63: By value: APAC Others Market during 2018-2029 in US$ billion
Figure 64: By value: Share of APAC Others Market during 2018-2029 in %
Figure 65: By volume: APAC Others Market during 2018-2029 in million tons
Figure 66: By volume: Share of APAC Others Market during 2018-2029 in %
Figure 67: By value: Share of North America Packaging Market during 2018-2029 in %
Figure 68: By value: North America Packaging Market during 2018-2029 in US$ billion
Figure 69: By volume: Share of North America Packaging Market during 2018-2029 in %
Figure 70: By volume: North America Packaging Market during 2018-2029 in million tons
Figure 71: By value: Share of North America Building & ConstructionMarket during 2018-2029 in %
Figure 72: By value: North America Building & ConstructionMarket during 2018-202 in US$ billion
Figure 73: By volume: Share of North America Building & ConstructionMarket during 2018-2029 in %
Figure 74: By volume: North America Building & ConstructionMarket during 2018-2029 in million tons
Figure 75: By value: North America Electrical & Electronics Market during 2018-2029 in %
Figure 76: By value: North America Electrical & Electronics Market during 2018-2029 in US$ billion
Figure 77: By volume: Share of North America Electrical & Electronics Market during 2018-2029 in %
Figure 78: By volume: North America Electrical & Electronics Market during 2018-2029 in million tons
Figure 79: By value: Share of North America Disposables Market during
2018-2029 in %
Figure 80: By value: North America Disposables Market during 2018-2029
in US$ billion
Figure 81: By volume: Share of North America Disposables Market during
2018-2029 in %
Figure 82: By volume: North America Disposables Market during 2018-2029
In million tons
Figure 83: By value: North America Others Market during 2018-2029 in US$ billion
Figure 84: By value: Share of North America Others Market during 2018-2029 in %
Figure 85: By volume: North America Others Market during 2018-2029 in million tons
Figure 86: By volume: Share of North America Others Market during 2018-2029 in %
Figure 87: By value: Share of Europe Packaging Market during 2018-2029 in %
Figure 88: By value: Europe Packaging Market during 2018-2029 in US$ billion
Figure 89: By volume: Share of Europe Packaging Market during
2018-2029 in %
Figure 90: By volume: Europe Packaging Market during 2018-2029 in million tons
Figure 91: By value: Share of Europe Building & ConstructionMarket during
2018-2029 in %
Figure 92: By value: Europe Building & Construction Market during 2018-2029 in US$ billion
Figure 93: By volume: Share of Europe Building & ConstructionMarket during 2018-2029 in %
Figure 94: By volume: Europe Building & Construction Market during 2018-2029 in million tons
Figure 95: By value: Share of Europe Electrical & Electronics Market during 2018-2029 in %
Figure 96: By value: Europe Electrical & Electronics Market during 2018-2029 in US$ billion
Figure 97: By volume: Share of Europe Electrical & Electronics Market during 2018-2029 in %
Figure 98: By volume: Europe Electrical & Electronics Market during 2018-2029 in million tons
Figure 99: By value: Share of APAC Disposables Market during 2018-2029 in %
Figure 100: By value: APAC Disposables Market during 2018-2029 in US$ billion
Figure 101:By volume: Share of APAC Disposables Market during 2018-2029 in %
Figure 102: By volume: APAC Disposables Market during 2018-2029 in million tons
Figure 103: By value: Europe Others Market during 2018-2029 in US$ billion
Figure 104: By value: Share of Europe Others Market during 2018-2029 in %
Figure 105: By volume: Europe Others Market during 2018-2029 in million tons
Figure 106: By volume: Share of Europe Others Market during 2018-2029 in %
Figure 107: By value: Share of South America Packaging Market during
2018-2029 in %
Figure 108: By value: South America Packaging Market during 2018-2029
in US$ billion
Figure 109: By volume: Share of South America Packaging Market during
2018-2029 in %
Figure 110: By volume: South America Packaging Market during 2018-2029 in million tons
Figure 111: By value: Share of South America Building & ConstructionMarket during 2018-2029 in %
Figure 112: By value: Share of South America Building & Construction Market during 2018-2029 in million tons
Figure 113: By volume: Share of South America Building & ConstructionMarket during 2018-2029 in %
Figure 114: By volume: South America Building & ConstructionMarket during 2018-2029 in million tons
Figure 115: By value: Share of South America Electrical & Electronics Market during 2018-2029 in %
Figure 116: By value: South America Electrical & Electronics Market during 2018-2029 in US$ billion
Figure 117: By volume: Share of South America Electrical & Electronics Market during 2018-2029 in %
Figure 118: By volume: South America Electrical & Electronics Market during 2018-2029 in million tons
Figure 119: By value: Share of South America Disposables Market during 2018-2029 in %
Figure 120: By value: South America Disposables Market during 2018-2029 in US$ billion
Figure 121: By volume: Share of South America Disposables Market during 2018-2029 in %
Figure 122: By volume: South America Disposables Market during 2018-2029 in million tons
Figure 123: By value: South America Others Market during 2018-2029 in US$ billion
Figure 124: By value: Share of South America Others Market during 2018-2029 in %
Figure 125: By volume: South America Others Market during 2018-2029 in million tons
Figure 126: By volume: Share of South America Others Market during 2018-2029 in %
Figure 127: By value: Share of Middle East and Africa Packaging Market during 2018-2029 in %
Figure 128: By value: Middle East and Africa Packaging Market during 2018-2029 in US$ billion
Figure 129: By volume: Share of Middle East and Africa Packaging Market during 2018-2029 in %
Figure 130: By volume: Middle East and Africa Packaging Market during 2018-2029 in million tons
Figure 131: By value: Share of Middle East and Africa Building & ConstructionMarket during 2018-2029 in %
Figure 132: By value: Middle East and Africa Building & ConstructionMarket during 2018-2029 in million tons
Figure 133: By volume: Share of Middle East and Africa Building & Construction
Market during 2018-2029 in %
Figure 134: By volume: Middle East and Africa Building & ConstructionMarket during
2018-2029 in million tons
Figure 135: By value: Share of Middle East and Africa Electrical & Electronics Market during
2018-2029 in %
Figure 136: By value: Middle East and Africa Electrical & Electronics Market during 2018-2029
in US$ billion
Figure 137: By volume: Share of Middle East and Africa Electrical & Electronics Market during
2018-2029 in %
Figure 138: By volume: Middle East and Africa Electrical & Electronics Market during
2018-2029 in million tons
Figure 139: By value: Share of Middle East and Africa Disposables Market during
2018-2029 in %
Figure 140: By value: Middle East and Africa Disposables Market during 2018-2029
in US$ billion
Figure 141: By volume: Share of Middle East and Africa Disposables Market during
2018-2029 in %
Figure 142: By volume: Middle East and Africa Disposables Market during 2018-2029
in million tons
Figure 143: By value: Middle East and Africa Others Market during 2018-2029 in US$ billion
Figure 144: By value: Share of Middle East and Africa Others Market during 2018-2029 in %
Figure 145: By volume: Middle East and Africa Others Market during 2018-2029 in million tons
Figure 146: By volume: Share of Middle East and Africa Others Market during 2018-2029 in %
Figure 147: By value: Share of APAC High Impact Benzene Market during 2018-2029 in %
Figure 148: By value: APAC High Impact Benzene Market during 2018-2029 in US$ billion
Figure 149: By volume: Share of APAC High Impact Benzene Market during 2018-2029 in %
Figure 150: By volume: APAC High Impact Benzene Market during 2018-2029 in million tons
Figure 151: By value: Share of APAC General Purpose Benzene Market during 2018-2029 in %
Figure 152: By value: APAC General Purpose Benzene Market during 2018-2029 in US$ billion
Figure 153: By volume: Share of APAC General Purpose Benzene Market during 2018-2029 in %
Figure 154: By volume: APAC General Purpose Benzene Market during 2018-2029 in million tons
Figure 155: By value: Share of APAC Expanded Benzene Market during 2018-2029 in %
Figure 156: By value: APAC Expanded Benzene Market during 2018-2029 in US$ billion
Figure 157: By volume: Share of APAC Expanded Benzene Market during 2018-2029 in %
Figure 158: By volume: APAC Expanded Benzene Market during 2018-2029 in million tons
Figure 159: By value: Share of North America High Impact Benzene Market
during 2018-2029 in %
Figure 160: By value: North America High Impact Benzene Market during
2018-2029 in US$ billion
Figure 161: By volume: Share of North America High Impact Benzene Market
during 2018-2029 in %
Figure 162: By volume: North America High Impact Benzene Market during 2018-2029
in million tons
Figure 163: By value: Share of North America General Purpose Benzene Market during
2018-2029 in %
Figure 164: By value: North America General Purpose Benzene Market during 2018-2029
in US$ billion
Figure 165: By volume: Share of North America General Purpose Benzene Market during 2018-2029 in %
Figure 166: By volume: North America General Purpose Benzene Market during 2018-2029 in million tons
Figure 167: By value: Share of North America Expanded Benzene Market during 2018-2029 in %
Figure 168: By value: North America Expanded Benzene Market during 2018-2029 in US$ billion
Figure 169: By volume: Share of North America Expanded Benzene Market during 2018-2029 in %
Figure 170: By volume: North America Expanded Benzene Market during 2018-2029 in million tons
Figure 171: By value: Share of Europe High Impact Benzene Market during 2018-2029 in %
Figure 172: By value: Europe High Impact Benzene Market during 2018-2029 in US$ billion
Figure 173: By volume: Share of Europe High Impact Benzene Market during 2018-2029 in %
Figure 174: By volume: Europe High Impact Benzene Market during 2018-2029 in million tons 116
Figure 175: By value: Share of Europe General Purpose Benzene Market during2018-2029 in %
Figure 176: By value: Europe General Purpose Benzene Market during 2018-2029
in US$ billion
Figure 177: By volume: Share of Europe General Purpose Benzene Market during 2018-2029 in %
Figure 178: By volume: Europe General Purpose Benzene Market during 2018-2029 in million tons
Figure 179: By value: Share of Europe Expanded Benzene Market during 2018-2029 in %
Figure 180: By value: Europe Expanded Benzene Market during 2018-2029 in US$ billion
Figure 181: By volume: Share of Europe Expanded Benzene Market during 2018-2029 in %
Figure 182: By volume: Europe Expanded Benzene Market during 2018-2029 in million tons
Figure 183: By value: Share of South America High Impact Benzene Market during 2018-2029
in %
Figure 184: By value: South America High Impact Benzene Market during 2018-2029 in US$ billion
Figure 185: By volume: Share of South America High Impact Benzene Market during 2018-2029 in %
Figure 186: By volume: South America High Impact Benzene Market during 2018-2029 in million tons
Figure 187: By value: Share of South America General Purpose Benzene Market during 2018-2029 in %
Figure 188: By value: South America General Purpose Benzene Market during 2018-2029 in US$ billion
Figure 189: By volume: Share of South America General Purpose Benzene Market during 2018-2029 in %
Figure 190: By volume: South America General Purpose Benzene Market during 2018-2029 in million tons
Figure 191: By value: Share of South America Expanded Benzene Market during 2018-2029 in %
Figure 192: By value: South America Expanded Benzene Market during 2018-2029 in US$ billion
Figure 193: By volume: Share of South America Expanded Benzene Market during 2018-2029 in %
Figure 194: By volume: South America Expanded Benzene Market during 2018-2029
in million tons
Figure 195: By value: Share of Middle East and Africa High Impact Benzene Market during
2018-2029 in %
Figure 196: By value: Middle East and Africa High Impact Benzene Market during 2018-2029
in US$ billion
Figure 197: By volume: Share of Middle East and Africa High Impact Benzene Market during
2018-2029 in %
Figure 198: By volume: Middle East and Africa High Impact Benzene Market during 2018-2029
in million tons
Figure 199: By value: Share of Middle East and Africa General Purpose Benzene Market during
2018-2029 in %
Figure 200: By value: Middle East and Africa General Purpose Benzene Market during 2018-2029 in US$ billion
Figure 201: By volume: Share of Middle East and Africa General Purpose Benzene Market during 2018-2029 in %
Figure 202: By volume: Middle East and Africa General Purpose Benzene Market during 2018-2029 in million tons
Figure 203: By value: Share of Middle East and Africa Expanded Benzene Market during 2018-2029 in %
Figure 204: By value: Middle East and Africa Expanded Benzene Market during 2018-2029 in
US$ billion
Figure 205: By volume: Share of Middle East and Africa Expanded Benzene Market during
2018-2029 in %
Figure 206: By volume: Middle East and Africa Expanded Benzene Market during 2018-2029
in million tons
Figure 207: By Value: key Benzene regional Markets in US$ billion
Figure 208: By Volume: key Benzene regional Markets in million tons
Figure 209: By value: Share of US Market during 2018-2029 in %
Figure 210: By value: US Market during 2018-2029 in US$ billion
Figure 211: By volume: Share of US Market during 2018-2029 in %
Figure 212: By volume: US Market during 2018-2029 in million tons
Figure 213: By value: Share of Canada Market during 2018-2029 in %
Figure 214: By value: Canada Market during 2018-2029 in US$ billion
Figure 215: By volume: Share of Canada Market during 2018-2029 in %
Figure 216: By volume: Canada Market during 2018-2029 in million tons
Figure 217: By value: Share of Mexico Market during 2018-2029 in %
Figure 218: By value: Mexico Market during 2018-2029 in US$ billion
Figure 219: By volume: Share of Mexico Market during 2018-2029 in %
Figure 220: By volume: Mexico Market during 2018-2029 in million tons
Figure 221: By value: Share of Germany Market during 2018-2029 in %
Figure 222: By value: Germany Market during 2018-2029 in US$ billion
Figure 223: By volume: Share of Germany Market during 2018-2029 in %
Figure 224: By volume: Germany Market during 2018-2029 in million tons
Figure 225: By value: Share of Italy Market during 2018-2029 in %
Figure 226: By value: Italy Market during 2018-2029 in US$ billion
Figure 227: By volume: Share of Italy Market during 2018-2029 in %
Figure 228: By volume: Italy Market during 2018-2029 in million tons
Figure 229: By value: Share of France Market during 2018-2029 in %
Figure 230: By value: France Market during 2018-2029 in US$ billion
Figure 231: By volume: Share of France Market during 2018-2029 in %
Figure 232: By volume: France Market during 2018-2029 in million tons
Figure 233: By value: Share of China Market during 2018-2029 in %
Figure 234: By value: China Market during 2018-2029 in US$ billion
Figure 235: By volume: Share of China Market during 2018-2029 in %
Figure 236: By volume: China Market during 2018-2029 in million tons
Figure 237: By value: Share of India Market during 2018-2029 in %
Figure 238: By value: India Market during 2018-2029 in US$ billion
Figure 239: By volume: Share of India Market during 2018-2029 in %
Figure 240: By volume: India Market during 2018-2029 in million tons
Figure 241: By value: Share of Japan Market during 2018-2029 in %
Figure 242: By value: Japan Market during 2018-2029 in US$ billion
Figure 243: By volume: Share of Japan Market during 2018-2029 in %
Figure 244: By volume: Japan Market during 2018-2029 in million tons
Figure 245: By value: Share of Brazil Market during 2018-2029 in %
Figure 246: By value: Brazil Market during 2018-2029 in US$ billion
Figure 247: By volume: Share of Brazil Market during 2018-2029 in %
Figure 248: By volume: Brazil Market during 2018-2029 in million tons
Figure 249: By value: Share of Argentina Market during 2018-2029 in %
Figure 250: By value: Argentina Market during 2018-2029 in US$ billion
Figure 251: By volume: Share of Argentina Market during 2018-2029 in %
Figure 252: By volume: Argentina Market during 2018-2029 in million tons
Figure 253: By value: Share of Colombia Market during 2018-2029 in %
Figure 254: By value: Colombia Market during 2018-2029 in US$ billion
Figure 255: By volume: Share of Colombia Market during 2018-2029 in %
Figure 256: By volume: Colombia Market during 2018-2029 in million tons
Figure 257: By value: Share of South Africa Market during 2018-2029 in %
Figure 258: By value: South Africa Market during 2018-2029 in US$ billion
Figure 259: By volume: Share of South Africa Market during 2018-2029 in %
Figure 260: By volume: South Africa Market during 2018-2029 in million tons
Figure 261: By value: Share of UAE Market during 2018-2029 in %
Figure 262: By value: UAE Market during 2018-2029 in US$ billion
Figure 263: By volume: Share of UAE Market during 2018-2029 in %
Figure 264: By volume: UAE Market during 2018-2029 in million tons
Figure 265: By value: Share of Saudi Arabia Market during 2018-2029 in %
Figure 266: By value: Saudi Arabia Market during 2018-2029 in US$ billion
Figure 267: By volume: Share of Saudi Arabia Market during 2018-2029 in %
Figure 268: By volume: Saudi Arabia Market during 2018-2029 in million tons
Figure 269: Exxon Mobil Corporation
Figure 270: JX Holdings Inc.
Figure 271: BASF SE
Figure 272: China Petroleum & Chemical Corporation
Figure 273: China National Petroleum Corporation
Figure 274: The Dow Chemical Company
Figure 275: Royal Dutch Shell Plc.
Figure 276: Total S.A.
Figure 277: Saudi Basic Industries Corporation
Figure 278: BP Plc
Research Methodology
This report uses a comprehensive and iterative research methodology including bottom-up and top-down approaches, to minimize deviance and consequently provide accurate market estimates and forecasts. Additionally, we make use of market breakdown and data triangulation procedures to validate our findings.
Secondary Research
We strictly make use of authentic and credible secondary sources such as company filings, white papers published by reputable authorities and institutions, journals, articles published by industry experts and other gold and silver standard databases such as Bloomberg, Dunn & Bradstreet, Standard & Poor’s and Thomson Reuters, among others.
Primary Research
Our findings from secondary sources are then validated by exhaustive primary interviews either through online surveys or on the phone. Importantly, we conduct these interviews all across the world, either internally or through channel partners in various locations, to get critical local insights as well.
 |
| Report Parameters | Details |
|---|---|
| Time Period Considered | 2018-2029 |
| Historical Period | 2018-2021 |
| Forecast Period | 2022-2029 |
| Units considered | Volume in kilotons, Revenue in US$ million/billion |
| Report Coverage | Value/ Revenue forecast, Volume forecast, competitive landscape, drivers, challenges, opportunities, and trends |
| COVID-19 | Impact of the COVID-19 pandemic has been factored in the volume and revenue estimations, trends, and drivers |
| Segments | By Application By Process By End-use industry By Region |
| Regions included in the study | Asia Pacific (APAC), North America, Europe, Middle East and Africa, South America |
| Companies Profiled | Exxon Mobil Corporation, JX Holdings Inc., BASF SE, China Petroleum & Chemical Corporation,China National Petroleum Corporation, The Dow Chemical Company,Royal Dutch Shell Plc.,Total S.A., and Saudi B |
The global Benzene market size was estimated at US$90.4 billion in 2021 and is expected to reach US$93.6 billion in 2022.
The global Benzene market is expected to grow at a compound annual growth rate of 3.6% from 2022 to 2029 to reach US$119.7 billion by 2029.
In 2021, the APAC region led the Benzene market in 2021 with a share of 59.4%.
The Ethylbenzene segment held the largest share in 2021 and accounted for 50% of the market.
Some key players operating in the Benzene market include Exxon Mobil Corporation, JX Holdings Inc., BASF SE, China Petroleum & Chemical Corporation,China National Petroleum Corporation, The Dow Chemical Company,Royal Dutch Shell Plc.,Total S.A., and Saudi Basic Industries Corporation, and BP Plc
Benzene is widely utilized in manufacturing resins, synthetic fibers, plastics, dyes, rubber lubricants, and pesticides. Its derivatives are used in the automotive industry for manufacturing synthetic rubber and high-performance plastics. In addition, the increasing demand from the construction industry is expected to propel the growth in Benzene market.