Press release
Benzene-Petrochemicals: Analyzing the Global Market Landscape in 2024
Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=3863&type=smp
According to The Business Research Company's, The benzene-petrochemicals market size has grown steadily in recent years. It will grow from $73.01 billion in 2023 to $75.59 billion in 2024 at a compound annual growth rate (CAGR) of 3.5%. The growth in the historic period can be attributed to increasing demand for plastics, growing population and urbanization, rising disposable incomes, expanding industrialization, feedstock availability, growing pharmaceuticals and chemicals production.
The benzene-petrochemicals market size is expected to see steady growth in the next few years. It will grow to $87.97 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%. The growth in the forecast period can be attributed to demand from automotive industry, growing construction and infrastructure development, petrochemical industry growth, consumer goods manufacturing, economic growth. Major trends in the forecast period include advanced petrochemical technologies, bio-based benzene, specialized and high-value chemicals, digitalization and industry 4.0, specialized benzene derivatives.
Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/benzene-petrochemicals-global-market-report
Market Drivers and Trends:
The increased use of styrene is driving the benzene market The benzene derivative ethylbenzene is majorly used in the manufacturing of styrene. Styrene is used in the production of various products, such as styrene-acrylonitrile (SAN), acrylonitrile-butadiene-styrene (ABS), polystyrene, styrene-butadiene elastomers, latexes, unsaturated polyester resins, among others. There is an increased demand for styrene-based polymers and copolymers in the automotive industry due to their lightweight nature. For instance, according to the American Chemistry Council (ACC), the fuel economy of a vehicle can improve by 6-8% by reducing the weight of a vehicle by 10%. Usage of plastics like styrene can reduce the weight of vehicles, thereby improving fuel economy. The use of styrene has also benefited manufacturers by reducing vehicle assembly time and costs. These advantages of the usage of styrene-based polymers and copolymers, especially in the automotive industry, are expected to contribute to the growth of the benzene market.
Many companies in the benzene market are focusing on research and developmental activities to discover new technologies and processes for the production of benzene. The technologies developed are expected to help curb environmental issues. For instance, in January 2021, Covestro, a German materials company received its first delivery of 2,000 metric tons of sustainable benzene from Total, a France-based petroleum company. The delivery enables Covestro to contribute to the circular economy. The increase in such technological advances to reduce emissions will gain traction and contribute to the growth of the market.
Key Benefits for Stakeholders:
• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Angarsk Petrochemical Company, Alexandria National Refining and Petrochemicals Company, Arsol Aromatics GmbH & Co. KG, Atyrau Oil & Gas, BASF SE, Borealis AG, BP plc, Braskem SA, Chevron Phillips Chemical Company, China National Petroleum Corporation, China Petrochemical Corporation, China Petroleum & Chemical Corporation (Sinopec), CPC Corporation Limited, Deza AS, Eastman Chemical Company, Egyptian Petrochemicals Holding Company, Exxon Mobil Corporation, Flint Hills Resources LLC, Gadiv Petrochemical Industries Ltd., Gazprom Neft PJSC, GS Caltex Corporation, INEOS Group, JSC Mozyr Oil Refinery, ENEOS Holdings Inc., JXTG Nippon Oil & Energy Corporation, Kian Petrochemical Company, Kuwait Aromatics Co. (Karo), LG Chem Ltd., Shell plc, Hengyi Industries Sdn Bhd, Maruzen Petrochemical Co. Ltd., Mitsubishi Chemical Corporation
Benzene-Petrochemicals Market 2024 Key Insights:
• The benzene-petrochemicals market size is expected to see steady growth in the next few years. It will grow to $87.97 billion in 2028 at a compound annual growth rate (CAGR) of 3.9%.
• Increasing Use Of Styrene In Benzene-Petrochemicals Market
• Innovations In Benzene-Petrochemicals Market
• Asia-Pacific was the largest region in the benzene-petrochemicals market in 2023
We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=3863&type=smp
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
This release was published on openPR.
Permanent link to this press release:
Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Benzene-Petrochemicals: Analyzing the Global Market Landscape in 2024 here
News-ID: 3728964 • Views: …
More Releases from The Business Research Company
Global High-Resolution Anoscopy Market Outlook 2025-2034: Trends, Innovations, A …
The High-Resolution Anoscopy Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the High-Resolution Anoscopy Market Size and Projected Growth Rate?
The market size for high-resolution anoscopy has experienced significant growth over the past few years. The market is predicted to increase from $15.03 billion…
Condyloma Acuminata Treatment Market Size Projected To Reach $2.2 Billion By 203 …
"The Condyloma Acuminata Treatment Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Condyloma Acuminata Treatment Market Size During the Forecast Period?
In the past few years, the condyloma acuminata treatment market has seen significant growth. The market value, which is anticipated to…
Household Type Fans Market Forecast 2025-2034: Comprehensive Analysis And Growth …
"The Household Type Fans Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Projected Growth of the Household Type Fans Market?
The market size for household fans has seen consistent expansion in recent years. The projections indicate an increase from $32.22 billion in 2024…
Grain Fumigants Industry Report 2025-2034: Market Dynamics, Trends, And Forecast …
The Grain Fumigants Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].
What Is the Expected Grain Fumigants Market Size During the Forecast Period?
The Grain Fumigants Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This…
More Releases for Petrochemical
Global Petrochemical Market Size by Application, Type, and Geography: Forecast t …
𝐔𝐒𝐀, 𝐍𝐞𝐰 𝐉𝐞𝐫𝐬𝐞𝐲- According to Market Research Intellect, the global Petrochemical market in the Internet, Communication and Technology category is projected to witness significant growth from 2025 to 2032. Market dynamics, technological advancements, and evolving consumer demand are expected to drive expansion during this period.
The growing need for chemicals used in manufacturing, packaging, and building around the world is propelling the petrochemical market's significant rise. The need for plastics, synthetic…
Refinery-Chemicals Integration Market Analysis and Advancements Outlook 2023 to …
The Refinery-Chemicals Integration Market is thoroughly examined in the research, which covers a number of topics like market size, status, trends, and projections. The competition landscape, development prospects, and major market drivers are also highlighted in the study. In-depth analysis of the market's size and growth offers insights into the market's past and projected regional growth. The market is additionally segmented by the report according to a number of variables,…
Expanding Petrochemical Sector Propelling Methanol Demand
For reducing the dependence of the world on fossil fuels and associated GHG emissions, methanol production is becoming popular. If we are to think of a "methanol economy" this would put into use both renewable electricity and waste CO₂.
The alternative production of fuels like methanol, which are made from fossil fuel, by making the use of wind, solar, hydroelectricity can also help solve the issue of storing this variable energy…
Basic Petrochemical Market 2022 | Detailed Report
The Basic Petrochemical research report combines vital data incorporating the competitive landscape, global, regional, and country-specific market size, market growth analysis, market share, recent developments, and market growth in segmentation. Furthermore, the Basic Petrochemical research report offers information and thoughtful facts like share, revenue, historical data, and global market share. It also highlights vital aspects like opportunities, driving, product scope, market overview, and driving force.
Download FREE Sample Report @ https://www.reportsnreports.com/contacts/requestsample.aspx?name=5388520…
Global Alkylbenzene Sulfonate Market Analysis 2020 Indian Oil, Jintung Petrochem …
Global Alkylbenzene Sulfonate Market Size, Type, Application, End-User, and Regional Analysis, Trade Analysis, Market Overview, Premium Insights,Patent Analysis, Market Attractiveness, Company Profiles, Traders/Distributors, Key Buyers, Forecasts 2020 - 2025
The Alkylbenzene Sulfonate market study exhibits a comprehensive analysis of the historic, current, and future trends across the globe. The report comprises of definitions, classifications, product specifications, and market overview, manufacturing processes, cost structures, and raw material analysis. The Alkylbenzene Sulfonate market…
GLOBAL ACRYLONITRILE MARKET: TAEKWANG INDUSTRIAL, SHANGHAI SECCO PETROCHEMICAL, …
Global Market Study Evaluate on Acrylonitrile Industry by Type, Manufacturers, Application, Type, and Regions, Forecast up to 2022
The scope of the global Acrylonitrile market report is:
This report offers a comprehensive evaluation of the Acrylonitrile market. It does so by in-depth qualitative insights, historical Acrylonitrile market data, and verifiable projections about global Acrylonitrile market size. The projections featured in the Acrylonitrile market report have been derived using proven research assumptions and…
