Crude Benzene is a colorless liquid which constitute a part of crude oil and is considered an elementary petrochemical. As it forms cyclic pi-bond which is continuous between carbon atom, benzene is also classified as an aromatic compound. Benzene is also highly flammable and carries a sweet smell, something we smell around petrol stations. It is widely used as precursor to the manufacturing of chemicals with complex structures, for example cumene and ethyl benzene etc. These are some of the widely produced compounds with production in millions of tons annually.
Benzene is widely used across various industries like textile, electrical and chemical and is one of the most crucial element due to its widespread usage. It is also a carcinogen, so prolonged exposure to benzene can be really harmful for humans.
Key Players
SABIC
BP
Dow Chemical Company
Exxon Mobil
Sinopec
Royal Dutch Shell
Borealis AG
CNPC
JXTG Holdings
BASF
Arsol Aromatics GmbH & Co. KG
Exxon Mobil Corporation
Repsol
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Segmentation:
The crude benzene market is segmented by type, application and region.
Based upon type, the crude benzene market is categorized as
- Ethylbenzene
- Cumene
- Cyclohexane
- Nitrobenzene
- Alkylbenzene
- Others
Based upon application, the crude benzene market is categorized as
- Building and Construction
- Textile
- Electrical and Electronics
- Automotive
- Others
Based Upon Region, the crude benzene market is categorized as
- North America (United States of America, Canada, Mexico)
- Europe (Germany, France, UK, Italy, Russia, Spain)
- Asia Pacific (China, Japan, Korea, India, Australia, New Zealand)
- Middle East & Africa
- Latin America
Regional Analysis:
North America dominated the market with a major share of the global pie. Presence of major manufacturing and innovation industry in the region and a significant advancement in technology has further consolidated the innovation and modernization of the industry.
Europe is the second largest market in terms of revenue with a plethora of automotive and electrical industry. Also a demand in construction coupled with technologically advance manufacturing process and product streamlining has further bolstered the growth in the region.
At present, Asia-Pacific consumes the highest amount of benzene and its derivatives, with around 47.0% consumption of the global consumption as of 2018. Among all Asia Pacific countries, China is the dominating country for the crude benzene market, consuming the largest volume in 2017. The worldwide volume consumption is comparatively lower in rest of the world, but is predicted to clock a high CAGR for the forecast period of 2019 to 2024, propelled by Asia-Pacific.
Asia-Pacific is expected to generate exponential growth in the next five years with major economic activities, an increase in disposable income and high level of product marketing and awareness. Countries like China, Japan and India are expected to report highest growth in the next five years in crude benzene market.
Industry News:
A majority of the total benzene produced worldwide is used in the processing of styrene, which is a precursor to making polymers and plastics. Benzene is also used to make explosives, dyes, drugs, lubricants, detergents, pesticide and rubber. Worldwide Crude Benzene consumption has seen a slump owing to toxic nature of the compound. Long term exposure to Benzene is considered really toxic which can cause cancer and other related diseases. Strict industrial regulations have been imposed in many countries for a safe processing and usage of the compound.
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Table Of Content:
1 Market Overview
2 Manufacturers Profiles
3 Global Market Competition, by Players
4 Global Market Size by Regions
5 North America Revenue by Countries
6 Europe Revenue by Countries
7 Asia-Pacific Revenue by Countries
8 South America Revenue by Countries
9 Middle East and Africa Revenue by Countries
10 Global Market Segment by Type
11 Global Market Segment by Application
12 Global Market Size Forecast (2019-2024)
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