A recent report published by Infinium Global Research on
benzene market provides in depth analysis of segments and sub-segments in
global as well as regional benzene market. The study also highlights the impact
of drivers, restraints and macro indicators on the global and regional benzene
market over the short term as well as long term. The report is a comprehensive
presentation of trends, forecast and dollar values of global benzene market.
According to report the global benzene market is projected to grow at a CAGR of
4.5% over the forecast period of 2018-2024.
Market Insight
Benzene is an organic chemical
compound that contains only carbon-hydrogen atoms joined in the ring
structure. Benzene is a liquid aromatic
hydrocarbon with high flammable, volatile and toxic properties. Benzene is
found in crude oils as a by-product of oil-refining processes. Benzene, if in comes
in contact with a person, can cause health-related issues such as central
nervous system damage, bone marrow damage and others, also breathing very high
levels of benzene can result in death.
The benzene is a large volume
commodity petrochemical that shows diverse applications in the chemical
industry. The versatile applications served by the benzene is the key factor
driving the benzene market worldwide. The major amount of produced benzene is
essentially used in the production of various chemicals such as ethylbenzene,
cumene and cyclohexane that are used in the Tire/Rubber Manufacturing, plastic,
paint and coatings, printing and other industries. In addition, the rapidly
growing demand of Styrene or polystyrene which are the derivatives of benzene,
are used in various end-use industries which is likely to boost the growth of
the benzene market. The manufacturing of synthetic rubbers and polystyrene are
the major applications of the Styrene. The rising uses of polystyrene in the
food packaging, construction and in the manufacturing industries for insulation
and manufacturing purpose is expected to contribute to the growth of the
benzene market over the forecast period. However, the U.S. Consumer Product
Safety Commission (CPSC) recommends ban of benzene in consumer products because
it has linked with various health related issues such as cancer of the white
blood cells, blood disorders and abnormalities of genetic material that may
hamper the market growth.
Moreover, rapidly increasing
phenol consumption is expected to escalate the growth of benzene market in
upcoming years. Phenol is one of the derivatives of benzene used in the
production of household application and as intermediates for the industrial
synthesis.
Geographically, Asia Pacific accounts for the nearly half of
the global production and consumption of benzene. The factors such as favorable
government regulations, growing end-use industries including electronics,
packing, construction, paint and coating and many other, availability of cheap
resources and skilled workforce are likely to fuel the growth of benzene market
in this region.
Segment Covered
The report on global benzene market covers segments such as,
derivatives and application. On the
basis of derivatives the global benzene market is categorized into
ethylbenzene, cumene, styrene, chlorobenzene, aniline, alkylbenzene,
cyclohexane and others. On the basis of application the global benzene market
is categorized into tire/rubber manufacturing, printing, petroleum/oil,
chemicals and plastic, auto repair, medicine and others.
Geographic Coverage
The countries covered in the North America region include the
U.S., Canada, and Mexico; while Asia-Pacific includes China, Japan, India,
South Korea, Malaysia, and among others. Moreover, Germany, U.K., France,
Spain, and Rest of Europe are included in the European region. The U.S. drives
the growth in the North America region as it is the largest market in the
region. The Asia-pacific region offers a substantial potential for the market
growth owing to rapid growth in markets such as India and China. The APAC
region is projected to experience a growth at a CAGR of x.x% over the period of
2018-2024.
Companies Profiled:
The report provides profiles of the companies in the global
benzene market such as, BASF, Reliance Industries Limited, The Dow Chemical
Company, ExxonMobil, Shell, Royal Dutch Shell Plc. , China National
Petroleum Corporation, Total S.A., Saudi Basic Industries Corporation and
others.
Report Highlights:
The report provides deep insights on demand forecasts, market
trends and micro and macro indicators. In addition, this report provides
insights on the factors that are driving and restraining the global benzene
market. Moreover, IGR-Growth Matrix analysis given in the report brings an
insight on the investment areas that existing or new market players can
consider. The report provides insights into the market using analytical tools
such as Porter's five forces analysis and DRO analysis of benzene market.
Moreover, the study highlights current market trends and provides forecast from
2018-2024. We also have highlighted future trends in the benzene market that
will impact the demand during the forecast period. Moreover, the competitive
analysis given in each regional market brings an insight on the market share of
the leading players. This report will help manufacturers, suppliers and
distributors of the benzene market to understand the present and future trends
in this market and formulate their strategies accordingly.
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