Benzene Market is estimated to be US$ 29.4 billion by 2022 with a CAGR of 7.2% during the forecast period 2032 With Top Most Key Players - BASF, Royal Dutch Shell, China National Petroleum Corporation, ExxonMobil Corporation, Arsol Aromatic GmbH & Co. KG.

Benzene is an organic compound with the molecular formula C6H6, a parent compound of various aromatic compounds. Benzene is converted in the liver and bone marrow to products called metabolites, some of the harmful effects of benzene exposure are caused by these metabolites, and most benzene metabolites are excreted in the urine within 48 hours of exposure. Benzene is a colorless, highly flammable and volatile liquid aromatic hydrocarbon with a gasoline-like odor, Benzene is found in crude oils and as a by-product of the oil-refining process, benzene is used in industry as a chemical intermediate as a solvent and in the synthesis of numerous chemicals. Benzene is known to be a human carcinogen and is associated with an increased risk of developing lymphatic and hematopoietic cancers, acute myelogenous leukemia as well as chronic lymphocytic leukemia. Benzene is a naturally occurring substance produced by volcanoes and forest fires and is found in many plants and animals, but benzene is also a major industrial chemical made from coal and oil. Benzene is widely used in industrial applications, it is a common solvent used in industrial, commercial and research settings, manufacturers use chemical-containing products as solvents for the authenticity of manufacturing steps, including the manufacture of chemicals such as ethylbenzene, cumene, cyclohexane and plastic products. Increase in the use of insulation materials in construction activities is the main contributing factor for the market growth and rising demand for crude oil globally due to the growth of vehicles will drive the demand for gasoline and drive the market revenue growth.

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The report "Benzene Market, By Derivative ( Cumene, Aniline, Ethylbenzene, Cyclohexane, Chlorobenzene, Maleic Anhdride, Alkylbenzene, phenol, styrene), By Application (Solvent, Chemical Intermediates, Surfactants, Plastics, Rubber Manufacturing, Detergent, Lubricants, Pesticides) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032"

Key Highlights:
• In November 2022, dry shampoo joined a growing list of cosmetic and hygiene products that contain benzene, a known human carcinogen according to independent laboratory Valizer's analysis. The high levels of benzene found in dry shampoos may be important because these products are likely to be used indoors, where benzene lingers and can be inhaled for long periods of time, Valizer CEO David Light said in a pre-release.
• In May 2022, BASF SE enables SP Chemicals to become the first domestic styrene plant to use Styrosim, an Industry 4.0 solution. An interactive and easy-to-use digital tool leverages big data analysis to increase styrene catalyst productivity, the combination of process modeling and optimization, big data analysis and automatic data transfer can effectively increase plant operational efficiency and production.

Analyst View:
The benzene compound occurs naturally and synthetically in volcanoes, wood fires, gasoline, and cigarette smoke. Recently, chemists have discovered the presence of benzene in many brands of sunscreens and sanitizers. Benzene is a highly flammable chemical, a colorless or yellow liquid at room temperature, benzene is a very important compound in organic chemistry, consisting of six carbon atoms joined together in a ring. Increasing use of fuel-powered vehicles and increasing need for solvents in the pharmaceutical and chemical industries are driving the growth of the benzene market, benzene market innovation is increasing worldwide, due to technological developments in benzene products that are more wear-efficient and use.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on"Benzene Market, By Derivative (Cumene, Aniline, Ethylbenzene, Cyclohexane, Chlorobenzene, Maleic Anhdride, Alkylbenzene, phenol, styrene), By Application (Solvent, Chemical Intermediates, Surfactants, Plastics, Rubber Manufacturing, Detergent, Lubricants, Pesticides) and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2032"

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Segments Covered in the Report:

Benzene Market, By Derivative:
• Cumene
• Aniline
• Ethylbenzene
• Cyclohexane
• Chlorobenzene
• Maleic Anhdride
• Alkylbenzene
• phenol
• styrene
Benzene Market, By Application:
• Solvent
• Chemical Intermediates
• Surfactants
• Plastics
• Rubber Manufacturing
• Detergent
• Lubricants
• Pesticides

Key Market Insights from the report:
Benzene Market accounted for US$ 29.4 billion in 2022 and is estimated to be US$ 58.8 billion by 2032 and is anticipated to register a CAGR of 7.2%. The Benzene Market is segmented based on Derivative, Application and Region.
• Based on Derivative, Benzene Market is segmented into Cumene, Aniline, Ethylbenzene, Cyclohexane, Chlorobenzene, Maleic Anhdride, Alkylbenzene, phenol, styrene.
• Based on Application, Benzene Market is segmented into Solvent, Chemical Intermediates, Surfactants, Plastics, Rubber Manufacturing, Detergent, Lubricants, and Pesticides.
• By Region, the Benzene Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.

Competitive Landscape & their strategies of Benzene Market:
The prominent players operating in the Benzene Market includes, BASF, Royal Dutch Shell, China National Petroleum Corporation, ExxonMobil Corporation, Arsol Aromatic GmbH & Co. KG, Mitsubishi Chemical Corporation, and Reliance Industries Holdings B.V., Chevron Phillips Chemical Corporation., Eastman Chemical Co., BP Plc.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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