Press release
Global Benzene Market Expected to Expand at a Steady CAGR through 2018-2024
Infinium Global Research
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Versatile applications of benzene are driving the growth of the benzene market. Benzene is the major component used in industrial chemical production and plastic manufacturing. In the chemical industry, Benzene vastly used as an intermediate to produce other chemicals. Benzene used to in the production of resins, synthetic fibers, rubber lubricants, dyes, detergents, drugs, and pesticides. In the manufacturing of Tire or Rubber, benzene and its derivatives used as a solvent. Benzene contained production are vastly used in the paint industry for cleaning and maintaining printing equipment. The report highlighted by applications of benzene market into Tire/Rubber Manufacturing, Printing, Petroleum/Oil, Chemicals And Plastic, Auto Repair, Medicine and other applications. Among these, Chemicals and Plastic applications hold significant shares in the benzene market.
Segmented by Derivatives
Global benzene market on the basis of derivatives is segregated into Ethylbenzene, Cumene, Styrene, Styrene, Aniline, Alkylbenzene, Cyclohexane, and others. Ethylbenzene is a derivative of benzene that has high flammable property and odour similar to that of gasoline. It is naturally founded in the petroleum and coal tar. Ethylbenzene is mainly used in the production of paints, inks, and pesticides. Other than this, Ethylbenzene is also used as a solvent in the fuel and manufacturing of other chemical compounds. The growing demand for ethylbenzene from the paint industry drives the growth of the benzene market.
Regional Analysis
Among the regions describers in the global benzene market, Asia Pacific held a substantial revenue share in the in 2017. It is expected to be the fastest growing region in this market over the forecast period of 2018 to 2024. The growing chemical industry and the high demand for benzene in paint and coating industry drives the growth of the benzene market in this region. In addition, the favourable government policies are contributing in Asia Pacific benzene market.
Competitive Landscape
The report provides profiles of the companies in the global benzene market such as BASF, Reliance Industries Limited, The Dow Chemical Company, ExxonMobil, and Shell, Royal Dutch Shell Plc., China National Petroleum Corporation, Total S.A., Saudi Basic Industries Corporation and others.
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About Infinium Global Research
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