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Benzene Market Trends, Key Players, Overview, Competitive Breakdown and Regional Forecast by 2028 | BASF, Sinopec, Dow Chemical Company, ExxonMobil

02-10-2020 06:02 PM CET | Business, Economy, Finances, Banking & Insurance

Press release from: QUINCE MARKET INSIGHTS

Benzene Market

Benzene Market

Benzene Market to grow exponentially at a CAGR of XX % by 2028

According to the latest report by Quince Market Insights, the Benzene Market growth is projected to gain high momentum during the forecast period owing to the rapidly increasing demand in the coating & paints and automotive sectors.

Benzene can be characterized as an organic chemical compound having the chemical formula C6H6 and consisting of six carbon atoms joined together in a ring with one hydrogen atom attached to each. It is also known as hydrocarbon since it contains only atoms of carbon and hydrogen. It is a natural constituent of crude oil and is one of the petrochemical elements. It is readily soluble in organic solvents but feebly soluble in water because of its non-polar nature.

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Segmentation for better understanding of this market and its growth prospects

The global market for benzene is segmented according to size. It is subdivided into chlorobenzene, toluene, nitrobenzene, cyclohexane, cumene, phenol, ethyl benzene, alkyl benzene, and aniline according to the form. The cumene is used for the processing of acetone and phenol. It is expected that increased demand for acetone and phenol from the chemical industries would improve the cumene market. Markets for polycarbonate, foams, and epoxy resin use phenol in enormous quantities as a raw material that has also had a positive market impact.

Strategic Factors Impacting Market Growth:

o The increasing demand in coating & paints and automotive industries
o increasing demand for styrene polymers

Regional segmentation and analysis to understand growth patterns

Based on the region, the benzene market has been segmented by North America, Western Europe, Eastern Europe, Middle East, Asia Pacific, & Rest of the World. North America and Western Europe are also typical sources of chemicals, such as bulk chemicals, specialty chemicals, etc. Major North American and Western European firms are headquartered in this region. This area has undergone a number of transformations by end-use industries in terms of the production of chemicals and their respective applications. Throughout designing the green alternatives in these areas, preference for bio-based feedstock has been instrumental. In addition, regulatory authorities have placed strict guidelines on environmental concerns and potential hazards to health due to exposures. This has been more influential in the dynamic Western Europe region. Some of the key countries in these regions include US, Germany, UK, France, Canada, Italy, Spain, and so on.

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Asia Pacific and Middle East are expected to show significant growth in the benzene market over the forecast period. This demand is with regard to the growth of key types such as Methyl Chloride, Chloroform, Methylene Chloride, Carbon Tetrachloride. Main Asia-Pacific countries include China, South Korea, Japan, India, Australia and so on. The Middle East includes the UAE, Saudi Arabia, Iran, Israel, Egypt, etc. With operations by major chemical giants in the region, Eastern Europe was controlled mainly by Russia and Turkey. Rest of the world which includes South America and Africa has strong market potential for benzene. Global companies have gradually made investments in these regions to improve their presence and to access the potential market. The main benzene-market economies in these areas involve Brazil, South Africa, Nigeria, Argentina, Colombia, and others.

The report provides insights about activities of top companies like BASF, Sinopec, Saudi Basic Industries Corporation, Royal Dutch Shell Plc., ExxonMobil Corporation, China National Petroleum Corporation, Dow Chemical Company, China Petroleum & Chemical Corporation, JX Holdings, Total and Bp Plc

Market Segmentation:

By Type:
o Methyl Chloride
o Methylene Chloride
o Chloroform
o Carbon Tetrachloride

By Region:

o North America
o By Country (US, Canada, Mexico)
o By Type

o Western Europe
o By Country (Germany, UK, France, Spain, Rest of Western Europe)
o By Type

o Eastern Europe
o By Country (Russia, Turkey, Rest of Eastern Europe)
o By Type

o Asia Pacific
o By Country (China, Japan, India, Rest of Asia Pacific)
o By Type

o Middle East
o By Country (UAE, Qatar, Iran, Saudi Arabia, Rest of Middle East)
o By Type

o Rest of the World
o By Region (South America, Africa)
o By Type

Reasons To Buy This Report:

o Market size estimation of the global benzene market on a regional and global basis
o The unique research design for market size estimation and forecast
o Profiling of major companies operating in the market with key developments
o Broad scope to cover all the possible segments helping every stakeholder in the market

Quince Market Insights
Ajay D. (Knowledge Partner)
Office No- A109
Pune, Maharashtra 411028
Phone: +91 - 9850603687 / 7972869557

QMI has the most comprehensive collection of market research products and services available on the web. We deliver reports from virtually all major publications and refresh our list regularly to provide you with immediate online access to the world's most extensive and up-to-date archive of professional insights into global markets, companies, goods, and patterns.

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