Benzene Market Overview:
Benzene Market is colourless and flammable liquid with a sweet and gasoline-like odour. It undergoes substitution reactions. Substitution is a reaction in which an atom or group of atoms replaces a hydrogen atom in an organic molecule. The halogens, nitric acid, sulphuric acid, and alkyl halides all react with benzene to form substituted derivatives.
Benzene is a toxic, flammable, and volatile hydrocarbon. The most common route to produce benzene is by crude refining, or as a by-product of p-xylene production. This implies that benzene production is entirely dependent on crude oil refining processes. It is used as an industrial solvent, as a chemical intermediate and is used in the synthesis of many chemicals such as including polystyrene, phenol, nylon, and polyurethane.
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Benzene Market Key Players:
Benzene Market Players are;
- BASF SE (Germany)
- Borealis AG (Austria)
- The Dow Chemical Company (U.S.)
- Arsol Aromatics GmbH & Co. KG (Germany)
- Exxon Mobil Corporation (U.S.)
- Royal Dutch Shell plc (the Netherlands)
- China Petroleum & Chemical Corporation (China)
- SABIC (Saudi Arabia)
- BP p.l.c. (UK)
- Repsol (Spain)
Benzene Market Regional Analysis:
Benzene Market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Asia Pacific is predicted to grow at the highest CAGR during the review period, 2018-2023 due to the expanding oil & gas industry. The demand for benzene is predicted to surge in numerous countries of the Middle East & Africa such as Iraq, the United Arab Emirates, Saudi Arabia, Iran, and Kuwait due to high adoption rate by the crude oil producers.
North American Benzene Market is predicted to witness a tremendous growth on account of high consumption potential, increasing production petroleum refining capacities, and rising economic growth rate. In the North American region, the U.S. is predicted to be the major contributor to the regional market growth and is expected to witness a significant demand for benzene.
In Europe, the demand for benzene is predicted to grow in various countries such as Italy, Germany, Spain, the UK, France, and Russia owing to increasing expenditure on innovation and growing purchasing power of the consumers. Moreover, the presence of major automobile manufacturers, specifically, in Germany is expected to give a new impetus to the market growth. Latin American countries such as Argentina, Colombia, and Brazil are also predicted to witness a substantial growth owing to increasing consumer spending on passenger cars where benzene derivatives are major constituents in the manufacturing automobile parts as well as the involvement of new technologies and inventions in benzene.
Benzene Market Segmentation:
Benzene Market is categorized on the basis of derivative type, and region. On the basis of derivative type, the market is bifurcated into alkyl benzene, cymene, cyclohexane, ethyl benzene, nitrobenzene, and others. On the basis of region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.
Benzene Market Table of Content:
1 Executive Summary
2 Scope of the Report
3 Market Research Methodology
4 Market Landscape
5 Industry Overview of Global Benzene Market
Benzene Market Table of Content to be Continue….,
Benzene Market List of Table:
Table 1 World Population: By Major Regions (2017 To 2030)
Table 2 Global Benzene Market: By Region, 2017-2023
Table 3 North America Benzene Market: By Country, 2017-2023
Table 4 Europe Benzene Market: By Country, 2017-2023
Table 5 Asia-Pacific Benzene Market: By Country, 2017-2023
Benzene Market List of Table to be Continue….,
Complete table of content is available at @ https://www.marketresearchfuture.com/reports/benzene-market-928
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