Benzene Market Enhancement, Key Players, Size, Growth, and Business Opportunities from 2022 to 2028 | BASF, ExxonMobil, Reliance Industries Limited, Shell

The "Benzene Market" report describes in detail the demand and consumption of various products related to the market growth dynamics during the forecast period of 2022-2028. A detailed market assessment of the various opportunities in the market segment is expressed in terms of quantity. These are discussed in many sections, including constraints, challenges and opportunities, regional breakdown, and opportunity assessment. This global Benzene Market report guarantees rich data on various market opportunities. The research report covers key gaming enthusiasts within the industry, CAGR value, market drivers, restraints, and international competitive strategies from the region.  The report includes strong research from expert analysts.

The global Benzene Market is expected to grow with a CAGR greater than 5.61% during the forecast period of 2022-2028.

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Market Overview:

The benzene market size was estimated at over 45 million tons in 2021. The rise in disposable income acts as a primary growth driver in the Global Benzene Market. Benzene is an aromatic hydrocarbon that is combustible. Benzene is very flammable and readily dissipates into the atmosphere. Volcanoes and forest fires, for example, naturally contaminate the air with benzene. Paints, furniture wax, glues, and detergents are all common sources of benzene in an interior environment. It is primarily utilized in the production of polystyrene as well as the preparation of phenol and aniline. Plastics, gasoline, synthetic rubbers, industrial solvents, and colors all contain benzene.

Benzene is extremely poisonous and carcinogenic. The market is likely to be driven by factors such as rising oil and gas exploration activities, rising building expenditure, high demand for polyester fiber, increasing domestic cleaning product use, and fast urbanization. However, the industry's expansion would be hampered by strict environmental laws and raw material price instability. The major restrain of this market is that individuals can be harmed by benzene exposure in a variety of ways. The intensity of the injuries or degree of symptoms caused by benzene exposure is determined by the amount of benzene and the length of time that persons are exposed to it.

The major companies operating in the global Benzene Market outlined in the report are:

BASF,ExxonMobil,Reliance Industries Limited,Shell,The Dow Chemical Company,China National Petroleum Corporation (CNPC),GS Caltex,Haldia Petrochemicals,Indian Oil Corporation,NAFTPRO Petroleum Products,Phillips 66,PTT Global Chemical,RÜTGERS,Saudi Arabian Oil

Recent Development:

BASF has acquired 25 companies, including 4 in the last 5 years. A total of 11 acquisitions came from private equity firms. It has also divested 25 assets. BASF's largest acquisition to date was in 2006 when it acquired Engelhard for $4.9B. Its largest disclosed sale occurred in 2000 when it sold Knoll Pharmaceutical to Abbott Laboratories for $6.9B. BASF has acquired in 8 different US states, and 9 countries. The Company's most targeted sectors include chemicals (64%) and life science (11%).

Exxon has acquired 8 companies. A total of 1 acquisition came from private equity firms. It has also divested 6 assets. Exxon's largest acquisition to date was in 1999 when it acquired Mobil for $81.0B. Its largest disclosed sale occurred in 2019 when it sold Exxon Mobil - Upstream Operations for $4.5B. Exxon has acquired in 5 different US states, and 3 countries. The Company's most targeted sectors include oil/gas exploration (88%) and chemicals (13%).

Benzene Market Segments:

Market Segmentation: By Type

Ethylbenzene

Cumene

Cyclohexane

Nitrobenzene

Alkylbenzene

Market Segmentation: By Application

Plastics

Polymers

Others

Regions Are covered by Global Benzene Market 

For a comprehensive understanding of market dynamics, the Global Benzene Market is analyzed across key geographies namely: 

North America (United States, Canada, and Mexico) 

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, and Colombia)

Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa).

Regional Analysis:

North America is expected to witness a significant growth rate owing to rising demand from expanding petrochemical sector. Benzene is a commonly utilized feedstock in the petrochemical industry for the manufacture of a wide range of chemicals, and it is produced primarily by catalytic reforming and steam cracking of crude oil. The region's upstream petroleum sector has expanded significantly in the last decade because of technological breakthroughs, especially shale oil extraction through hydraulic fracturing. Since the region is an oil & gas production has surpassed domestic fuel demand, investors are focusing their efforts on value addition and the construction of new petrochemical complexes. Rising demand from expanding petrochemical sector, as well as the availability of surplus crude oil, are anticipated to augment the market growth.

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The study objectives of this report are:

- To study and analyze the Global Benzene market size (value and volume) by the company, key regions/countries, products and applications, history data from 2016 to 2021, and forecast to 2028.

- To understand the structure of Benzene by identifying its various subsegments.

- To share detailed information about the key factors manipulating the growth of the market (growth potential, opportunities, drivers, industry-specific challenges, and risks).

- To analyze the report with respect to individual growth trends, future prospects, and their contribution to the total market. 

- To analyze modest developments such as expansions, agreements, new product launches, and acquisitions in the market.

- To strategically profile the key players and comprehensively analyze their growth strategies.

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Scope of The Benzene Market Report:

- The report analyses Benzene by Type Segment.

- The report assesses the Benzene by End User. 

- The Global Benzene has been analyzed by Region.

- The key insights of the report have been presented through the frameworks of SWOT and Market Attractiveness charts.

- The attractiveness of the market has been presented by Region, Type, and by End User. Additionally, the major opportunities, trends, drivers, and challenges of the industry have been analyzed in the report.

- The report provides a detailed pipeline analysis developed to cure the problem of Benzene.

- The report tracks competitive developments, strategies, mergers and acquisitions, and new product development.

-To take advantage of business owners, tap hard at Benzene research to get a thorough understanding of current momentum.

- The report presents the analysis of Benzene for the historical period of 2016-2021 and the forecast period of 2022-2028.

Note: All the reports that we list have been tracking the impact of COVID-19. Both upstream and downstream of the entire supply chain have been accounted for while doing this. Also, where possible, we will provide an additional COVID-19 update supplement/report to the report in Q3, please check with the sales team.

Customizable: The Global Benzene Market

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