Benzene is the simplest, organic, fragrant hydrocarbon and parent compound of several critical fragrant compounds. With the formula C6H6, benzene is a colourless liquid that has a distinguishing fragrance and is predominantly utilised in the manufacturing of polystyrene.
Benzene is extremely poisonous and is a recognised carcinogen, and exposure to it might cause leukaemia. Due to this, there are rigorous regulations on benzene emissions. Nearly all the reactions of benzene fit into a group named electrophilic aromatic substitution that drops the ring itself intact but substitutes one of the attached hydrogens. Such reactions are flexible and primarily utilised to make derivatives of benzene.
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The leading benzene-exporting countries are South Korea, India, Thailand, the Netherlands, and Brunei. In comparison, the top importers are China, the United States, Belgium, the Netherlands, and Saudi Arabia.
Key Details About the Benzene Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Benzene price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The Benzene Price chart, including India Benzene price, USA Benzene price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Benzene Price Trend:
There are several usages of benzene in distinct areas. It predominantly utilises industrial chemicals and
is a primary part of gasoline. Some of the other important utilisation of benzene comprises producing plastics, synthetic fibres, rubber lubricants, dyes, resins, detergents, drugs and so on. In addition, benzene is employed as a solvent in numerous industrial, commercial and research projects.
Moreover benzene is also utilised in the manufacturing of tires and rubber and is an important application in adhesives that are used to glue soles to shoes. Besides, chemical compounds that are produced using benzene involve detergents, pesticides, insecticides, herbicides, and dyes. Furthermore, ink and various painting products like spray paints, sealers, lacquers, and stains also include some amount of benzene.
Key Players:
- Shell Chemicals
- Reliance Industries Limited
- Chevron Phillips Chemical Company LLC (Chevron Phillips Chemical)
- China Petroleum & Chemical Corporation (Sinopec Corp.)
- SynQuest Laboratories (Central Glass Co., LTD.)
News & Recent Development
- April 21, 2023: Against the backdrop of the anticipated fear of recession in forthcoming orders and sloping demand for benzene from the domestic and global markets, benzene prices have rebounded recently. Crude oil had seen an incline in demand, and as a result, it created an opportunity for oil traders to raise prices. The overall prices of benzene have observed a substantial increase because of the decline in the market inventories, expanding the demand-supply gap in the domestic market. The prices of crude oil sloped in the first week of April, uniformly affecting the total production cost of benzene in the United States market. The United States Environmental Protection Agency (EPA) has aimed to propose a plan to significantly reduce the volume of poisonous chemicals in the environment that is produced by the chemical sectors.
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Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.
We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence providing you with the latest and consistent data.
To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth.
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