Benzene market will grow at a rate of 2.59% for the forecast period of 2021 to 2028. Rise in the demand for styrene polymers from various end-user industries acts as a vital factor driving the growth of benzene market. Benzene is defined as a highly flammable, colourless, sweet smelling aromatic hydrocarbon and a ware petrochemical industrial solvent. It has a tendency to evaporate rapidly on being exposed to air and is a petrochemical product which has various subsidiaries such as aniline, alkyl benzene, cumene, cyclohexane, chlorobenzene, ethyl benzene, nitrobenzene, phenol among others. It is used in numerous sectors such as consumer products, electrical & electronics, transportation, constructions, and medical and is also used as a solvent in large range of commercial and economical industries.
Benzene Market research report has put forth a bench-marking example for a vibrant market that explores several recommendations and practical growth strategies in relation to the market. The market report covers a wide spectrum of regions and also focuses on key regions that include North America, Europe, Asia Pacific, Middle East, South America, and the Middle East & Africa (MEA). The chapter of the competitive landscape is presented well in the market research report and is analyzed based on the tools such as Porter’s five forces analysis.
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Market Insights and Scope
Rise in the demand for polyester is the vital factor escalating the market growth, also increase in the crude oil production, low cost of the feedstock and economical commodity product, rise in the demand In the Asia-Pacific, increase in the phenol consumption and rise in the demand of methylene diphenyl diisocyanate are the major factors among others driving the benzene market. Moreover, rise in the investments In Saudi Arabia downstream sector and rise in the research and development activities in the market will further create new opportunities for the benzene market in the forecast period of 2021- 2028. However, detrimental effects of benzene exposure and volatility in the price of crude oil are the major factor among others acting as restraints, and will further challenge the growth of benzene market in the forecast period mentioned above.
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Industry Segmentation and Size
Benzene market is segmented on the basis of derivative and end-use industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- Based on derivative, the benzene market is segmented into alkyl benzene, cumene, cyclohexane, ethyl benzene, nitro benzene and others.
- The benzene market is also segmented on the basis of end-use industry into construction, transportation, medical, pulp and paper, automobile industries, packaging and textile.
Market Country Level Analysis
· The countries covered in the benzene market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Industry Share Analysis
· The major players covered in the benzene market report are China National Petroleum Corporation, Haldia Petrochemicals Limited, PTT Global Chemical Public Company Limited, Indian Oil Corporation Ltd, NAFTPRO Petroleum Products, GS Caltex Corporation, Dow, Reliance Industries Limited, SABIC, Royal Dutch Shell Plc, Repsol, Arsol Aromatics GmbH & Co. KG, BASF SE and ExxonMobil Corporation among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately.
Benzene Market Report Answers the Following Questions:
- What is the current size of the Benzene Market?
- What are the key drivers and challenges for the Benzene Market?
- What are the different types of Benzene Market?
- What are the leading companies operating in the Benzene Market?
- What is the future outlook for the Benzene Market?
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