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Global Benzene Market 2017-2021

Global Benzene Market 2017-2021

About Benzene

Benzene is one of the natural components of crude oil. It is a highly flammable colorless liquid with a sweet odor. Benzene is primarily used as an intermediate to make chemicals such as styrene, ethylbenzene, cumene, cyclohexane, and nitrobenzene. More than 50% of the entire benzene produced is processed into styrene, which is used to make plastics and polymers. A small amount of benzene is used to make rubbers, detergents, explosives, lubricants, dyes, drugs, and pesticides.

Technavio’s analysts forecast the global benzene market to grow at a CAGR of 4.51% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global benzene market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Benzene Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • BASF
  • ExxonMobil
  • Reliance Industries Limited
  • Shell
  • The Dow Chemical Company
Other prominent vendors
  • China National Petroleum Corporation (CNPC)
  • GS Caltex
  • Haldia Petrochemicals
  • Indian Oil Corporation
  • NAFTPRO Petroleum Products
  • Phillips 66
  • PTT Global Chemical
  • RÜTGERS
  • Saudi Arabian Oil
Market driver
  • Increasing demand for benzene for various applications
  • For a full, detailed list, view our report
Market challenge
  • Fluctuating prices of benzene in the domestic markets of various countries
  • For a full, detailed list, view our report
Market trend
  • Declining crude oil prices
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?


Press Release

Technavio Announces the Publication of its Research Report – Global Benzene Market 2017-2021

Technavio recognizes the following companies as the key players in the global benzene market: BASF, ExxonMobil, Reliance Industries Limited, Shell, and The Dow Chemical Company.

Other Prominent Vendors in the market are: China National Petroleum Corporation (CNPC), GS Caltex, Haldia Petrochemicals, Indian Oil Corporation, NAFTPRO Petroleum Products, Phillips 66, PTT Global Chemical, RÜTGERS, and Saudi Arabian Oil.

Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is declining crude oil prices. The basic raw material for manufacturing benzene is naphtha. Naphtha is derived from crude oil by its fractional distillation. Petrochemical prices are dependent on crude oil prices, which tend to fluctuate. The fluctuating crude oil prices affect the prices of the raw material, affecting the cost of production of benzene.”

According to the report, one driver in the market is increasing demand for benzene for various applications. Benzene is commonly used as a raw material for the industrial production of chemicals, such as phenol, styrene, cumene, and aniline. It is an important component of many paint products such as sealants, top coats, solvents, and spray paints lacquers. Auto repair facilities use products manufactured from benzene for cleaning hydraulic systems, brakes, and fuel system components. Benzene is also used to manufacture rubber tires and is a major component of asphalt and crude oil.

Further, the report states that one challenge in the market is fluctuating prices of benzene in the domestic markets of various countries. The fluctuating price of benzene has been one of the major factors hindering the growth of the benzene market in China. Being one of the top manufacturers and consumers of benzene, China saw price fluctuations for benzene in 2016. Major manufacturers such as Sinopec have increased their benzene prices in North China by 300 CHY ($45.39) per ton. The benzene price in China in 2016 was 6,900 CHY ($1,043.97) per ton. Benzene prices in China increased due to a prolonged tightness in cargo availability in the domestic market.

Companies Mentioned

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, and Saudi Arabian Oil.

  • Executive summary
  • Scope of the report
  • Research methodology
  • Introduction
    • Market outline
      • Table Value chain of benzene
      • Table Chemical properties of benzene
  • Market landscape
    • Market overview
      • Table Global benzene market overview
    • Market size and forecast
      • Table Global benzene market 2016-2021 ($ millions)
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by derivative
    • Global benzene market by derivative
      • Table Global benzene market by derivative 2016 (%)
      • Table Global benzene market by derivative 2021 (%)
      • Table Global benzene market by derivative 2016-2021 (% share)
    • Global benzene market by styrene
      • Table Global benzene market by styrene 2016-2021 ($ millions)
    • Global benzene market by cumene
      • Table Global benzene market by cumene 2016-2021 ($ millions)
    • Global benzene market by cyclohexane
      • Table Global benzene market by cyclohexane 2016-2021 ($ millions)
    • Global benzene market by aniline
      • Table Global benzene market by aniline 2016-2021 ($ millions)
    • Global market for other benzene derivatives
      • Table Global market for other benzene derivatives 2016-2021 ($ millions)
  • Regional landscape
    • Geographical segmentation
      • Table Benzene market comparison by region 2016-2021 (% share)
    • Regional comparison
      • Table Regional comparison
    • APAC - Market size and forecast
      • Table APAC - market size and forecast 2016-2021 ($ millions)
      • Table APAC - Year-over-year growth 2017-2021 (%)
    • Americas - market size and forecast
      • Table Americas - market size and forecast 2016-2021 ($ millions)
      • Table Americas - Year-over-year growth 2017-2021 (%)
    • EMEA - market size and forecast
      • Table EMEA - market size and forecast 2016-2021 ($ millions)
      • Table EMEA - Year-over-year growth 2017-2021 (%)
    • Key leading countries
      • Table Key leading countries 2016
    • Market opportunity
  • Decision framework
  • Drivers and challenges
    • Market drivers
    • Market challenges
  • Market trends
    • Declining crude oil prices
    • Technological advances in benzene production
    • Increasing investments in the Middle East
  • Vendor landscape
    • Competitive scenario
    • Major market vendors
      • Table Global benzene market: Major market vendors 2016
    • Other prominent vendors
  • Key vendor analysis
    • BASF
      • Table BASF: Business segmentation by revenue 2016
      • Table BASF: Geographical segmentation by revenue 2016
    • ExxonMobil
      • Table ExxonMobil: Business segmentation by revenue 2016
      • Table ExxonMobil: Geographical segmentation by revenue 2016
    • Reliance Industries Limited
      • Table Reliance Industries Limited: Business segmentation by revenue 2016
      • Table Reliance Industries Limited: Segmentation of revenue by geography 2016
    • Shell
      • Table Shell: Business segmentation by revenue 2016
      • Table Shell: Geographical segmentation by revenue 2016
    • The Dow Chemical Company
      • Table The Dow Chemical Company: Business segmentation by revenue 2016
      • Table The Dow Chemical Company: Geographic segmentation by revenue 2016
  • Appendix
    • List of abbreviations
  • Explore Technavio

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