Benzene market will grow at a rate of 2.59% for the forecast period of 2021 to 2028. Rise in the demand for styrene polymers from various end-user industries acts as a vital factor driving the growth of benzene market.
Data Bridge Market Research (DBMR), in an upcoming market research study, brings to fore both macro- and microeconomic factors that will shape the growth curve of the global Benzene Market. The report offers detailed insights on the Benzene Market through an extensive analysis of key growth drivers, latest trends, potential challenges, and revenue growth prospects based on historical data.
Crucial information and forecast statistics, in terms of value and volume, covered in the Benzene Market report will arm both existing and emerging market players with necessary insights to craft long-term strategies as well as maintain business continuity during a crisis such as the ongoing COVID-19 pandemic.
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Benzene Market Scope and Market Size
Benzene market is segmented on the basis of derivative and end-use industry. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- Based on derivative, the benzene market is segmented into alkyl benzene, cumene, cyclohexane, ethyl benzene, nitro benzene and others.
- The benzene market is also segmented on the basis of end-use industry into construction, transportation, medical, pulp and paper, automobile industries, packaging and textile.
The recent outbreak of the COVID-19 has adversely affected various markets in the chemicals & materials industry. The Benzene Market is no different. Products which are deemed ‘essential’ continue to experience significant sales, while non-essential chemicals and raw materials faced a sharp decline in demand.
Benzene is defined as a highly flammable, colourless, sweet smelling aromatic hydrocarbon and a ware petrochemical industrial solvent. It has a tendency to evaporate rapidly on being exposed to air and is a petrochemical product which has various subsidiaries such as aniline, alkyl benzene, cumene, cyclohexane, chlorobenzene, ethyl benzene, nitrobenzene, phenol among others. It is used in numerous sectors such as consumer products, electrical & electronics, transportation, constructions, and medical and is also used as a solvent in large range of commercial and economical industries.
Competitive Landscape and Benzene Market Share Analysis
The major players covered in the benzene market report are China National Petroleum Corporation, Haldia Petrochemicals Limited, PTT Global Chemical Public Company Limited, Indian Oil Corporation Ltd, NAFTPRO Petroleum Products, GS Caltex Corporation, Dow, Reliance Industries Limited, SABIC, Royal Dutch Shell Plc, Repsol, Arsol Aromatics GmbH & Co. KG, BASF SE and ExxonMobil Corporation among other
Benzene Market Country Level Analysis
The countries covered in the benzene market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
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Crucial data that can be drawn from the Benzene Market report:
- The political and economic environment of different regions and their impact on the Benzene Market
- Growth opportunities for market players in the emerging markets
- Current and future prospects of various applications of the Benzene Market
- Y-o-Y growth projection of the different segments of the Benzene Market
- Impact of the various regulatory policies on the Benzene Market in different regions
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