Benzene & Benzene Derivatives Market - Forecast(2023 - 2028)

Report Code: CMR 0980 Report Format: PDF + Excel

Benzene & Benzene Derivatives Market Overview

Benzene & Benzene Derivatives Market size is forecast to reach $XX million by 2025, after growing at a CAGR of 7.9% during 2020-2025. The key factor driving the global market growth is the augmenting demand for benzene in the production of various useful derivatives such as ethylbenzene, cumene, phenol, styrene, nitrobenzene, Aniline, and so on. In addition, growing phenol and styrenic polymer consumption in plastic and resin processing is expected to proliferate the demand for benzene in the coming years. Increasing demand for methylene diphenyl diisocyanate (MDI) in the production of polyurethane foams is likely to create opportunities for the market players in the furniture and construction industries during the forecast period. Additionally, ethylbenzene is widely used as an anti-knocking agent whose demand is expected to increase in the coming years. 

Benzene & Benzene Derivatives Market Report Coverage

The report: “Benzene & Benzene Derivatives Market– Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Benzene & Benzene Derivatives Industry. 

By Derivative: Ethybenzene and Styrene, Cumene, Phenol and Acetone, Cyclohexane, Alkyl Benzene, Nitrobenzene and Aniline, Chlorobenzene, Maleic Anhydride and others.
By Processing Methods: Alkylation, Hydrogenation, Nitration, Oxidation, Chlorination and others.
By Raw Material: Naphtha, Toluene, Ethylene, Bio-mass and others.
By Production Methods: Cracking Crude Oil, Catalytic reforming of Naphtha, Dealkylation of Toluene, Recovery from Ethylene plant Pyrolysis Gasoline (PG), Coke oven, Selective toluene Disproportionation and others.
By End Use Industry: Agrochemical Industry, Rubbers and Plastics Industry, Oil and Gas Industry, Tobacco industry, Adhesives and Sealants Industry, Pharmaceutical Industry, Petrochemical Industry and others.
By Geography: North America, South America, Europe, APAC, and RoW.

Key Takeaways

  • Benzene is a crucial building block for the development of various chemicals such as ethylbenzene, cyclohexane, cumene, nitrobenzene, and alkylbenzene, which are further used by a wide variety of end-user industries such as construction and construction, textiles, transport, and electrical and electronics. The growth in these industries are driving benzene & its derivatives demand.
  • Benzene & its derivatives are subject to the risk of crude oil supply and price volatility. In addition, ethylbenzene has an adverse effect on the human body if it is exposed to for a longer time. Its residues are present in the soil and air, prompting environmental regulatory agencies to impose strict rules on the use of ethylbenzene in finished goods. These factors are limiting benzene & its derivatives market growth.
  • Demand for bio-based Benzene has also increased with the rising demand for greener and more sustainable solutions. Companies such as Anellotech, a company that believes in sustainable technologies, have begun manufacturing bio-mass-based benzene and have developed a method for the development of 100% bio-based aromatic chemicals, including benzene, toluene and xylene (BTX).
  • Due to the COVID-19 pandemic, entire world has gone into a lockdown period due to which operations of various end-use industries such as oil & gas, adhesives, petrochemical and others are disruptively stopped, which is affecting the benzene and its derivatives market.

Benzene & Benzene Derivatives Market Segment Analysis - By Derivative

Cumene held the largest share in the benzene and benzene derivatives market in 2019, owning to the growing demand for phenol and acetone. The emerging construction and automotive industries are driving demand for styrene polymers, which is driving ethylbenzene demand at a remarkable rate. Isopropyl benzene is commonly used to manufacture phenols and their derivatives. Phenol resins, caprolactam, bisphenol A, and alkyl phenols are some of the phenol derivatives produced with the help of cumene. Bisphenol A is the main phenol derivative that is often used to manufacture polycarbonate and epoxy resins. For use in the automotive industry, polycarbonate resins are blended with glass and metals. Cumene-based polycarbonate derived from Bisphenol A finds its use in protection and architectural outlets.

Benzene & Benzene Derivatives Market Segment Analysis - By Geography

Asia Pacific held the largest share in the benzene & benzene derivatives market in 2019 up to 32%. Consumption patterns in Asia Pacific are showing upward trend owing to shift of manufacturing facilities to China and India due to availability of cheap labor and raw material. Rising demand from automobile, coatings, textiles and other industries is expected to drive the benzene & its derivatives market in Asia Pacific. In addition, increasing production capacities in specialty chemicals are expected to fuel the market growth. According to the International Congress and Convention Association (ICCA), Asia Pacific chemical industry contributed a total of $2.6 trillion to the total GDP in 2017, of which $1.5 trillion GDP was in China alone. According to OICA, in 2018 the automotive production in India, Thailand, Indonesia and Malaysia has increased up to 5174645, 2167694, 1343714 and 564800, i.e., 8.0%, 9.0%, 10.3% and 12.2% higher than previous year due to rising per capita income of the individuals which further led to massive demand for benzene and its derivatives in APAC region. 

Benzene & Benzene Derivatives Market Drivers

Increasing application of styrene

Ethylbenzene is a colorless liquid that is highly inflammable with an aromatic odor. It is used primarily in the production of styrene. Styrene is used in the manufacture of various products, such as polystyrene, acrylonitrile-butadiene-styrene (ABS), resins of styrene-acrylonitrile (SAN), elastomers of styrene-butadiene, latex and resins of unsaturated polyester. In various products such as televisions, IT equipment, disposable medical products such as test kits, consumer devices such as portable speakers, cassette tape and others, Styrene Polymers are used. In the Middle East and Asia-Pacific, demand for styrene is continuously increasing, owing to the increased demand for rubber tires in both regions. Apart from styrene, ethylbenzene is also used as a solvent in fuels and as an intermediate for other chemical applications. These applications are likely to support the demand for and growth of ethyl benzene. The increasing number of applications of styrene, such as in general-purpose polystyrene, EPS, and ABS, are also contributing to increased market growth.

Benzene & Benzene Derivatives Market Challenges

Fluctuating crude oil prices and hazardous nature of benzene

One of the major challenges faced by the Benzene and Its Derivatives market is the dependency on crude oil for its production. In the present economic scenario, the crude oil prices have increased and in general the crude oil prices are extremely volatile which is major constrain on the Benzene and its derivatives market as their cost is directly affected by the fluctuations. According to, BP Statistical Review of World Energy, in the recent year there is been an increase in the price volatility of crude oil, such as the crude oil price decreased from $98.95 in 2014 to $52.39 in 2015 and increased from $43.73 in 2016 to $71.31 in 2018. Another major challenge in this industry is the hazardous nature of Benzene. Benzene is highly flammable and has a low flashpoint which makes it explosive. It also poses carcinogenic, mutagenic and toxic properties for humans in case of contact or inhalation. Therefore, these factors are affecting benzene & its derivatives market growth.

Benzene & Benzene Derivatives Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the Benzene & Benzene Derivatives Market. In 2019, the market of Benzene & Benzene Derivatives Market has been consolidated by the top five players accounting for xx% of the share. Major players in the Benzene & Benzene Derivatives market includes ExxonMobil Corporation, JX Holdings, CNPC, Total S.A., Saudi Basic Industries Corporation, Royal Dutch Shell plc. Dow Chemical Company, and BASF SE, among others. 

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1. Benzene & Benzene Derivatives Market- Market Overview
    1.1 Definitions and Scope
2. Benzene & Benzene Derivatives Market- Executive Summary
    2.1 Market Revenue, Market Size and Key Trends by Company
    2.2 Key Trends by Derivative
    2.3 Key Trends by Processing Methods
    2.4 Key Trends by Raw Material
    2.5 Key Trends by Production Methods
    2.6 Key Trends by End Use Industry
    2.7 Key Trends by Geography
3. Benzene & Benzene Derivatives Market- Landscape
    3.1 Comparative analysis 
        3.1.1 Market Share Analysis- Top Companies
        3.1.2 Product Benchmarking- Top Companies
        3.1.3 Top 5 Financials Analysis
        3.1.4 Patent Analysis- Top Companies
        3.1.5 Pricing Analysis
4. Benzene & Benzene Derivatives Market - Startup companies Scenario Premium Premium 
    4.1 Top startup company Analysis by
        4.1.1 Investment
        4.1.2 Revenue
        4.1.3 Market Shares
        4.1.4 Market Size and Application Analysis
        4.1.5 Venture Capital and Funding Scenario
5. Benzene & Benzene Derivatives Market– Industry Market Entry Scenario Premium Premium 
    5.1 Regulatory Framework Overview
    5.2 New Business and Ease of Doing business index
    5.3 Case studies of successful ventures
    5.4 Customer Analysis - Top companies
6. Benzene & Benzene Derivatives Market- Market Forces
    6.1 Market Drivers
    6.2 Market Constraints
    6.3 Market Opportunities
    6.4 Porters five force model
        6.4.1 Bargaining power of suppliers
        6.4.2 Bargaining powers of customers
        6.4.3 Threat of new entrants
        6.4.4 Rivalry among existing players
        6.4.5 Threat of substitutes 
7. Benzene & Benzene Derivatives Market -Strategic analysis
    7.1 Value chain analysis
    7.2 Opportunities analysis
    7.3 Market life cycle
    7.4 Suppliers and distributors 
8. Benzene & Benzene Derivatives Market– By Derivative (Market Size -$Million / $Billion)
    8.1 Ethybenzene and Styrene
    8.2 Cumene, Phenol and Acetone
    8.3 Cyclohexane
    8.4 Alkyl Benzene
    8.5 Nitrobenzene and Aniline
    8.6 Chlorobenzene
    8.7 Maleic Anhydride 
    8.8 Others
9. Benzene & Benzene Derivatives Market– By Processing Methods (Market Size -$Million / $Billion)
    9.1 Alkylation 
    9.2 Hydrogenation
    9.3 Nitration
    9.4 Oxidation
    9.5 Chlorination
    9.6 Others
10. Benzene & Benzene Derivatives Market– By Raw Material (Market Size -$Million / $Billion)
    10.1 Naphtha 
    10.2 Toluene
    10.3 Ethylene
    10.4 Bio-mass
    10.5 Others
11. Benzene & Benzene Derivatives Market– By Production Methods (Market Size -$Million / $Billion)
    11.1 Cracking Crude Oil
    11.2 Catalytic reforming of Naphtha
    11.3 Dealkylation of Toluene
    11.4 Recovery from Ethylene plant Pyrolysis Gasoline (PG)
    11.5 Coke oven
    11.6 Selective toluene Disproportionation
    11.7 Naphtha
12. Benzene & Benzene Derivatives Market– By End Use Industry (Market Size -$Million / $Billion)
    12.1 Agrochemical Industry 
    12.2 Rubbers and Plastics Industry
    12.3 Oil and Gas Industry
    12.4 Tobacco industry
    12.5 Adhesives and Sealants Industry 
    12.6 Pharmaceutical Industry
    12.7 Petrochemical Industry 
    12.8 Others
13. Benzene & Benzene Derivatives Market - By Geography (Market Size -$Million / $Billion)
    13.1 North America
        13.1.1 U.S.
        13.1.2 Canada
        13.1.3 Mexico
    13.2 South America
        13.2.1 Brazil
        13.2.2 Argentina
        13.2.3 Colombia
        13.2.4 Rest of South America
    13.3 Europe
        13.3.1 U.K
        13.3.2 Germany
        13.3.3 Italy
        13.3.4 France
        13.3.5 Spain
        13.3.6 Russia
        13.3.7 Rest of Europe
    13.4 Asia Pacific
        13.4.1 China
        13.4.2 India
        13.4.3 Japan
        13.4.4 Taiwan
        13.4.5 South Korea
        13.4.6 Rest of Asia Pacific
    13.5 ROW
        13.5.1 Middle East
        13.5.2 Africa
14. Benzene & Benzene Derivatives Market- Entropy
    14.1 New Product Launches
    14.2 M&A’s, Collaborations, JVs and Partnerships
15. Market Share Analysis Premium
    15.1 Market Share by Country- Top companies
    15.2 Market Share by Region- Top companies
    15.3 Market Share by type of Product / Product category- Top companies
    15.4 Market Share at global level- Top companies
    15.5 Best Practices for companies
16. Benzene & Benzene Derivatives Market- List of Key Companies by Country Premium 
17. Benzene & Benzene Derivatives Market Company Analysis
    17.1 Market Share, Company Revenue, Products, M&A, Developments
    17.2 Company 1
    17.3 Company 2
    17.4 Company 3
    17.5 Company 4
    17.6 Company 5
    17.7 Company 6
    17.8 Company 7
    17.9 Company 8
    17.10 Company 9
    17.11 Company 10 and more
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