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Benzene Market Segmentation By Derivatives (Chlorobenzene, Toluene, Nitrobenzene, Cyclohexane, Cumene, Phenol, Ethyl Benzene, Alkyl Benzene, Aniline and Others) and By Application (Textile, Specialty Chemicals, Building & Construction, Transportation and Others) – Global Demand Analysis & Opportunity Outlook 2028

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Extensive insights into the Growth of Benzene Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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  • December 2017: Aarti Industries Limited, known as one of the leading producers of Benzene – based basic and intermediate chemicals in India, announced that it has signed a multi-year supply contract with a global chemical conglomerate for a value of around USD 1.474 billion.
  • June 2019: S.C. OMV PETROM S.A. announced that it has invested around USD 51.511 million since 2017 in modernizing its Coker unit so as to eliminate any potential emissions of volatile organic compounds at the Petrobrazi refinery.

Introduction to Benzene Market

Benzene is an aromatic hydrocarbon molecule comprising of six carbon atoms and six hydrogen atoms with the chemical formula C6H6. It is an organic chemical compound and is a natural constituent of crude oil. It is a colorless and highly flammable liquid. Benzene also possesses a sweet smell and is responsible for the aroma around petrol stations. Primarily used as a precursor to the manufacture of chemicals, benzene can be associated with highly complex chemical structure which includes ethylbenzene and cumene. Benzene is produced as a by-product in steam crackers and refineries. As a result, the supply and demand of benzene is driven by other products derived from it.


Market Size and Forecast

The global benzene market is thriving on the back of growing applications for benzene derivatives driven by the growing end-user industries around the globe, which includes packaging, construction, bulk chemicals and materials, textiles, automotive and several others. Additionally, rising exports of benzene around the globe on the back of increasing demand for benzene by end user organizations is also anticipated to contribute towards the growth of the global benzene market. According to the statistics by International Trade Centre, exports of benzene around the world grew from USD 5.354 billion in the year 2016 to USD 8.536 billion in the year 2018. CLICK TO DOWNLOAD SAMPLE REPORT


The market is anticipated to record a CAGR of 3.98% throughout the forecast period, i.e. 2020-2028. The global benzene market is segmented by application into textile, specialty chemicals, building & construction, transportation and others, out of which, specialty chemicals segment is anticipated to hold the largest market share on the back of increasing utilization of benzene as a specialty chemicals across industries to manufacture plastics, resins, synthetic fibers, drugs and pesticides, dyes, rubber lubricants and others.


The global benzene market is also segmented by derivatives into chlorobenzene, toluene, nitrobenzene, cyclohexane, cumene, phenol, ethyl benzene, alkyl benzene, aniline and others, out of which, ethyl benzene segment is anticipated to gain significant market share on the back of increasing use of the chemical in the manufacturing of styrene as well as for greater use as a solvent in fuels as well as an intermediate for other chemical applications. Moreover, styrene is used primarily in the production of various products, including polystyrene, acrylonitrile-butadiene-styrene (ABS), styrene-acrylonitrile (SAN) resins and others. Styrene polymers also find massive utilization across various products such as televisions, disposable medical products, consumer electronics and several IT equipment. Furthermore, styrene is also used in the manufacturing of rubber tires.

Growth Drivers

Increasing Versatile Applications Of Benzene

Benzene is a large volume petrochemical commodity. As such, the hydrocarbon shows diverse applications to produce various chemicals in the chemical industry. Ranging across varied end user industries, for instance, tire or rubber manufacturing, plastics, paint and coatings, printing and others, several forms of benzene including ethylbenzene, cumene, cyclohexane and others are used. Moreover, rising demand for another prime derivative of benzene, known as styrene or polystyrene to be used across the end user industries is also anticipated to contribute towards the growth of the global benzene market during the forecast period.

Rising Demand For Polyesters

A polyester polymer is made from an acid, benzene-1,4-dicarboxylic acid and an alcohol, ethane-1,2-diol. Owing to many desirable qualities of the polymer, polyesters are used across a wide array of applications. Ranging from knitting fabrics to making bottles, films, dielectric film for capacitors and others, polyesters are widely consumed across manufacturing industries.


Benzene is one of the key components (benzene-1,4-dicarboxylic acid) used in the chemical process for the formation of a polyester polymer. Increasing demand for polyesters is anticipated to raise the demand for greater consumption of benzene hydrocarbon. Moreover, increasing exports of saturated polyesters around the globe is also anticipated to contribute towards the growth of the global benzene market. According to the statistics by International Trade Centre, exports of saturated polyesters increased from USD 7.764 billion in the year 2016 to USD 9.680 billion in the year 2018.



Detrimental Effects On Exposure To Benzene

Exposure to benzene is known to cause several health-related issues, such as cancer of the white blood cells, blood disorders and abnormalities of genetic material. Owing to such a factor, government of various nations around the globe have come across with stringent norms that recommends ban of benzene for the manufacturing of certain products. For instance, the U.S. Consumer Product Safety Commission (CPSC) endorses the ban of benzene in consumer products. Such a factor is anticipated to hinder the growth of the global benzene market during the forecast period.

Market Segmentation

Our in-depth analysis of the global benzene market includes the following segments:

By Derivatives

  • Chlorobenzene
  • Toluene
  • Nitrobenzene
  • Cyclohexane
  • Cumene
  • Phenol
  • Ethyl Benzene
  • Alkyl Benzene
  • Aniline
  • Others

By Application

  • Textile
  • Specialty Chemicals
  • Building & Construction
  • Transportation
  • Others

By Region

On the basis of regional analysis, the global benzene market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.

Asia Pacific market is anticipated to hold the largest market share on the back of presence of several end user industries, such as electronics and home appliances, packaging and construction and others in nations such as China, India and ASEAN countries. Moreover, the rise in manufacturing facilities over the years supported by lower labor costs in the region, especially China, is also anticipated to contribute towards the growing demand for several industrial raw materials.

The global benzene market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.

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