According to a market report by Lucintel, the future of the benzene market looks promising with opportunities in the packaging, pharmaceutical, agriculture, construction, and textile markets. The global benzene market is expected to grow with a CAGR of 3% to 5% from 2023 to 2028. The major drivers for this market are increasing demand in food & e-commerce applications and growing demand for the polystyrene & copolymers of styrene for the industrial processes involved in the industries such as automobiles, construction, and packaging.
Ethylbenzene, cumene, alkylbenzene, cyclohexane, and nitrobenzene are the major segments of benzene market by derivative. Lucintel forecasts that ethylbenzene will remain the largest segment over the forecast period as they are used to create styrene and can be found naturally in coal tar and petroleum.
Within this market, plastics, solvent, chemical intermediates, surfactants, rubber manufacturing, detergents, explosives, lubricants, and pesticides are the major segments of benzene market by application. Lucintel predicts that chemical intermediates will remain the largest segment over the forecast period due to the growing use of benzene as a chemical intermediate to produce various chemicals and medicines.
Asia Pacific is expected to remain the fastest growing region over the forecast period due to increasing end user markets for electronics, packaging, home appliances, and construction in emerging economies like China and India.
BASF, Chevron Philips Chemical Company, Exxon Mobil, LG Chem, ShellPLC, Dow, and Total S.A. companies are among the major suppliers of benzenes.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global benzene market by derivatives, application, end use industry, and region. Lucintel has prepared a comprehensive research report entitled “Growth Opportunities in the Global Benzene Market 2023-2028: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global benzene market by derivatives, application, end use industry, and region as follows:
Benzene Market by Derivatives [Value ($B) Shipment Analysis from 2017 to 2028]:
Ethylbenzene
Cumene
Alkylbenzene
Cyclohexane
Nitrobenzene
Others
Benzene Market by Application [Value ($B) Shipment Analysis from 2017 to 2028]:
Plastics
Solvent
Chemical Intermediates
Surfactants
Rubber Manufacturing
Detergents
Explosives
Lubricants
Pesticides
Others
Benzene Market by h End Use Industry [Value ($B) Shipment Analysis from 2017 to 2028]:
Packaging
Pharmaceuticals
Agriculture
Constructions
Textiles
Others
Benzene Market by Region [Value ($B) Shipment Analysis from 2017 to 2028]:
North America
Europe
Asia Pacific
The Rest of the World
This more than 150-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or email us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. Lucintel offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 key questions:
Q.1 What are some of the most promising potential, high growth opportunities for the global benzene market by derivatives (ethylbenzene, cumene, alkylbenzene, cyclohexane, nitrobenzene, and others), application (plastics, solvent, chemical intermediates, surfactants, rubber manufacturing, detergents, explosives, lubricants, pesticides, and others), end use industry (packaging, pharmaceuticals, agriculture, constructions, textiles, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and the reasons behind them?
Q.7 What are the changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via material or product substitution?
Q.11 What M & A activities have taken place in the last 5 years in this market?