Benzene and Its Derivatives Market – Global Industry Analysis and Forecast (2022-2029)

Benzene and Its Derivatives Market size was valued at US$ 34.65 Bn. in 2021, and the total revenue is estimated to grow at 6.5% from 2022 to 2029, reaching nearly US$ 57.34 Bn.

Benzene and Its Derivatives Market Overview:

Benzene is an aromatic hydrocarbon and an organic compound that is extracted from crude oil through refinery processes. Further, Benzene has a molecular formula C6H6, and it is among the most consumed petrochemicals used in the industry. Benzene and its derivatives are mainly used as raw materials in the production of various chemicals. Alkylbenzene, chlorobenzene, cumene, toluene, ethylbenzene, cyclohexane, aniline, nitrobenzene, and phenol are examples of important benzene derivatives. It is also used to make maleic anhydride and as a solvent. One of the major benzene derivatives, ethylbenzene, is an important styrene feedstock. It is an important feedstock for the production of various chemicals, which are then used in a variety of industries such as building and construction, textile, electrical and electronics, and automotive. Benzene and Its Derivatives MarketTo know about the Research Methodology :- Request Free Sample Report Expanding demand for styrene polymers from a number of end-use industries such as paints and coatings, automobiles, foams, and films is expected to continue to bode well for Benzene and its derivatives market over the 2022 - 2029 forecast period. Exponential growth of automobile sector and the paints and coatings industry is providing impetus to the Benzene and its derivatives market.

Benzene And Its Derivatives Market Drivers:

The global benzene and derivatives market is expected to grow rapidly over the forecast period due to rising demand for coatings and paints. Benzene is a critical building block in the production of a variety of chemicals, including ethylbenzene, cyclohexane, cumene, nitrobenzene, and alkylbenzene, which are then used by a wide range of end-user industries, including construction and construction, textiles, transportation, and electrical and electronics. The expansion of these industries is driving demand for Benzene and its derivatives. With the growing demand for greener and more sustainable solutions, demand for bio-based Benzene has also increased. Anellotech, a company that believes in sustainable technologies, has begun producing biomass-based Benzene and has developed a method for producing 100 percent bio-based aromatic chemicals such as Benzene, toluene, and xylene (BTX). The automobile industry has increased its demand for benzene derivatives. This is due to the numerous applications of benzene derivatives in the automotive industry. Furthermore, it is used in the production of synthetic rubber, chemicals, plastics, and other materials that are widely used in a variety of end-use industries. It is used as a solvent and paint remover in the electrical and electronics industries. Furthermore, it is used to make a variety of compound plastics, such as phenolic resins, which are widely used in a variety of end-use industries.

Benzene and Its Derivatives Market Restraints:

The growth of the industry would be challenged by stringent environmental regulations and volatility in the raw material prices. Ethylbenzene is harmful to both human health and the environment. Long-term ethylbenzene exposure is harmful to humans, and traces of ethylbenzene in the soil can cause environmental problems. Such serious environmental consequences are expected to stymie market growth. Over the forecast period, stringent government policies, primarily in North America and Europe, are expected to further constrain the global market (2022-2029). Because of Benzene's reliance on crude oil, volatility in crude oil prices is expected to be both a constraint & an opportunity for the global Benzene and derivative market. A sudden increase in crude oil prices has a negative impact on raw material prices, while a decrease in crude oil prices helps to expand overall profits.

Benzene And Its Derivatives Market Segment Analysis:

Based on the derivatives, the global Benzene And Its Derivatives market is segmented into Ethylbenzene & Styrene, Cumene, Cyclohexane, Alkylbenzene, Phenol & Acetone, Nitrobenzene & Aniline, Maleic Anhydride, Chlorobenzene, and Others. The cumene segment accounted for a significant market share in 2021 and is estimated to grow at a sustainable rate during the (2022-2029) forecast period. Increased acetone and phenol demand from the chemical industry is expected to boost the cumene market, which will have a direct impact on global benzene derivative demand over the forecast period. The polycarbonate, foam, and epoxy resin markets all use a large amount of phenol as a raw material, which is expected to drive the global benzene derivative market. Furthermore, the emerging construction and automotive industries are driving styrene polymer demand, which is driving ethylbenzene demand at an astounding rate. Isopropyl benzene is widely used in the production of phenols and their derivatives. On the processing methods, the global Benzene and Its Derivatives market are segregated into Oxidation, Alkylation, Hydrogenation, Nitration, Chlorination, and Others. The alkylation segment generated substantial revenue in 2021 and is expected to grow at a healthy rate in the forecast period. Alkylation is the process of replacing a hydrogen ring with an alkyl group. It is one of the most preferred benzene derivative processing methods. In terms of Application, the global Benzene and its Derivatives market are categorized into Industrial chemicals, Oil & Gas, Rubber & Plastics, pharmaceuticals, and Others. The industrial chemical is estimated to be responsible for a majority share during the forecast period (2022-2029). Furthermore, the rubber and plastics industry is expected to grow at a healthy rate due to rising consumer electronics products in emerging economies such as India and China.

Benzene And Its Derivatives Market Regional Insights:

North America is anticipated to register a noticeable growth rate owing to growing demand from the escalating petrochemical sector. The European region is expected to grow steadily as a result of stringent regulations governing the usage of Benzene and its derivatives in consumer goods. Styrene and phenol demand is increasing due to increased demand from the pharmaceutical, automotive, and plastics industries. The Asia Pacific market accounted for the largest market share and is estimated to hold a dominant position in the forecast period. The rise in manufacturing facilities in countries such as India and China coupled with cheap labor is expected to increase regional Benzene and its derivatives demand over the forecast period. Japan and China were the biggest regional Benzene and its derivatives consumer followed by South Korea and India. Furthermore, Benzene is widely used in the manufacture of construction products such as paints, flooring, adhesives, fibreglass, and others. • Reliance Industries Limited (India) is one of the leading manufacturers of Benzene, with an annual production capacity of around 1400 KT, supporting both domestic demand in India and exports to numerous countries around the world. • In July 2021, Indian oil corporation OC signed a contract to invest 3. $ billion approx. in Gujrat refinery, Petchem project. Where IOC has signed the MOU for the infrastructure facilities and provides alkyl benzene as the feedstock for detergent industries. The objective of the report is to present a comprehensive analysis of the Benzene And Its Derivatives market to the stakeholders in the concerned industries. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The Global Benzene and its Derivatives market report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new players. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the Global Benzene and its Derivatives market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding the Benzene And Its Derivatives market dynamics, structure by analyzing the market segments and project the Benzene And Its Derivatives market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Benzene and Its Derivatives market make the report investor's guide.

Benzene And Its Derivatives Market Scope: Inquire before buying

Global Benzene And Its Derivatives Market
Report Coverage Details
Base Year: 2021 Forecast Period: 2022-2029
Historical Data: 2017 to 2021 Market Size in 2021: US $ 34.65 Bn.
Forecast Period 2022 to 2029 CAGR: 6.5% Market Size in 2029: US $ 57.34Bn.
Segments Covered: by Derivatives • Ethylbenzene & Styrene • Phenol & Acetone • Cumene • Cyclohexane • Alkylbenzene • Nitrobenzene & Aniline • Maleic Anhydride • Chlorobenzene • Others
by Processing Methods • Hydrogenation • Nitration • Oxidation • Alkylation • Chlorination • Others
by Application • Industrial Chemical • Oil & Gas • Rubbers & Plastics • Pharmaceutical • Others

Benzene And Its Derivatives Market, by Region

• North America • Europe • Asia Pacific • Middle East and Africa • South America

Benzene And Its Derivatives Market Key Players

• China Petroleum & Chemical Corporation (Sinopec, China) • Exxon Mobil Corporation (U.S.) • Royal Dutch Shell Plc. (The Netherlands) • The Dow Chemical Company (U.S.) • JX Holdings Inc. (Japan) • China National Petroleum Corporation (China) • Total S.A. (France) • Saudi Basic Industries Corporation (Saudi Arabia) • BP Plc (U.K) • BASF SE (Germany) • China National Petroleum Corporation (China) • Ineos Group Ltd. (U.K.) • Chevron Phillips Chemical Company LLC. (USA) • Mitsubishi Chemical Corporation (Japan) • LyondellBasell Industries Holdings B.V. (U.S.) • Maruzen Petrochemical Co., Ltd. (Japan) • Reliance Industries Limited (India) Frequently Asked Questions: 1. What is the forecast period considered for the Benzene and Its Derivatives market report? Ans. The forecast period for the Benzene and Its Derivatives market is 2022-2029. 2. Which key factors are hindering the growth of the Benzene and Its Derivatives market? Ans. Ethylbenzene is harmful to both human health and the environment. Long-term ethylbenzene exposure is harmful to humans, and traces of ethylbenzene in the soil can cause environmental problems. Such serious environmental consequences are expected to stymie market growth. 3. What is the estimated compound annual growth rate (CAGR) of the Benzene and Its Derivatives market for the forecast period? Ans. The Benzene and Its Derivatives market is estimated to grow at CAGR of 6.5% through the forecasted period (2022-2029). 4. What are the key factors driving the growth of the Benzene and Its Derivatives market? Ans. Expanding demand of styrene polymers from a number of end-use industries such as paints and coatings, automobiles, foams, and films is expected to continue to bode well for Benzene and its derivatives market over the 2022 - 2029 forecast period.
1. Benzene And Its Derivatives Market: Research Methodology 2. Benzene And Its Derivatives Market: Executive Summary 2.1. Market Overview and Definitions 2.1.1. Introduction to Benzene And Its Derivatives Market 2.2. Summary 2.2.1. Key Findings 2.2.2. Recommendations for Investors 2.2.3. Recommendations for Market Leaders 2.2.4. Recommendations for New Market Entry 3. Benzene And Its Derivatives Market: Competitive Analysis 3.1. MMR Competition Matrix 3.1.1. Market Structure by region 3.1.2. Competitive Benchmarking of Key Players 3.2. Consolidation in the Market 3.2.1 M&A by region 3.3. Key Developments by Companies 3.4. Market Drivers 3.5. Market Restraints 3.6. Market Opportunities 3.7. Market Challenges 3.8. Market Dynamics 3.9. PORTERS Five Forces Analysis 3.10. PESTLE 3.11. Regulatory Landscape by region • North America • Europe • Asia Pacific • The Middle East and Africa • South America 3.12. COVID-19 Impact 4. Benzene And Its Derivatives Market Segmentation 4.1. Benzene And Its Derivatives Market, by Derivatives (2021-2029) • Ethylbenzene & Styrene • Phenol & Acetone • Cumene • Cyclohexane • Alkylbenzene • Nitrobenzene & Aniline • Maleic Anhydride • Chlorobenzene • Others 4.2. Benzene And Its Derivatives Market, by Processing Methods (2021-2029) • Hydrogenation • Nitration • Oxidation • Alkylation • Chlorination • Others 4.3. Benzene And Its Derivatives Market, by Distribution channel (2021-2029) • Industrial Chemical • Oil & Gas • Rubbers & Plastics • Pharmaceutical • Others 5. North America Benzene And Its Derivatives Market (2021-2029) 5.1. North America Benzene And Its Derivatives Market, by Derivatives (2021-2029) • Ethylbenzene & Styrene • Phenol & Acetone • Cumene • Cyclohexane • Alkylbenzene • Nitrobenzene & Aniline • Maleic Anhydride • Chlorobenzene • Others 5.2. North America Benzene And Its Derivatives Market, by Processing Methods (2021-2029) • Hydrogenation • Nitration • Oxidation • Alkylation • Chlorination • Others 5.3. North America Benzene And Its Derivatives Market, by Application (2021-2029) • Industrial Chemical • Oil & Gas • Rubbers & Plastics • Pharmaceutical • Others 5.4. North America Benzene And Its Derivatives Market, by Country (2021-2029) • US • Canada • Mexico 6. European Benzene And Its Derivatives Market (2021-2029) 6.1. European Benzene And Its Derivatives Market, by Derivatives (2021-2029) 6.2. European Benzene And Its Derivatives Market, by Processing Methods (2021-2029) 6.3. European Benzene And Its Derivatives Market, by Application (2021-2029) 6.4. European Benzene And Its Derivatives Market, by Country (2021-2029) • UK • France • Germany • Italy • Spain • Sweden • Austria • Rest Of Europe 7. Asia Pacific Benzene And Its Derivatives Market (2021-2029) 7.1. Asia Pacific Benzene And Its Derivatives Market, by Derivatives (2021-2029) 7.2. Asia Pacific Benzene And Its Derivatives Market, by Processing Methods (2021-2029) 7.3. Asia Pacific Benzene And Its Derivatives Market, by Application (2021-2029) 7.4. Asia Pacific Benzene And Its Derivatives Market, by Country (2021-2029) • China • India • Japan • South Korea • Australia • ASEAN • Rest Of APAC 8. Middle East and Africa Benzene And Its Derivatives Market (2021-2029) 8.1. Middle East and Africa Benzene And Its Derivatives Market, by Derivatives (2021-2029) 8.2. Middle East and Africa Benzene And Its Derivatives Market, by Processing Methods (2021-2029) 8.3. Middle East and Africa Benzene And Its Derivatives Market, by Application (2021-2029) 8.4. Middle East and Africa Benzene And Its Derivatives Market, by Country (2021-2029) • South Africa • GCC • Egypt • Nigeria • Rest Of ME&A 9. South America Benzene And Its Derivatives Market (2021-2029) 9.1. South America Benzene And Its Derivatives Market, by Derivatives (2021-2029) 9.2. South America Benzene And Its Derivatives Market, by Processing Methods (2021-2029) 9.3. South America Benzene And Its Derivatives Market, by Application (2021-2029) 9.4. South America Benzene And Its Derivatives Market, by Country (2021-2029) • Brazil • Argentina • Rest Of South America 10. Company Profile: Key players 10.1. China Petroleum & Chemical Corporation (China) 10.1.1. Overview 10.1.2. Financial Overview 10.1.3. Presence 10.1.4. Derivatives Portfolio 10.1.5. Business Strategy 10.1.6. Recent Developments 10.2. Exxon Mobil Corporation (USA) 10.3. Royal Dutch Shell Plc. (The Netherlands) 10.4. The Dow Chemical Company (USA) 10.5. JX Holdings Inc. (Japan) 10.6. China National Petroleum Corporation (China) 10.7. Total S.A. (France) 10.8. Saudi Basic Industries Corporation (Saudi Arabia) 10.9. BP Plc (U.K) 10.10. BASF SE (Germany) 10.11. China National Petroleum Corporation (China) 10.12. Ineos Group Ltd. (U.K.) 10.13. Chevron Phillips Chemical Company LLC. (USA) 10.14. Mitsubishi Chemical Corporation (Japan) 10.15. LyondellBasell Industries Holdings B.V. (USA) 10.16. Maruzen Petrochemical Co., Ltd. (Japan) 10.17. Reliance Industries Limited (India)
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