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The increased use of styrene are expected to drive innovation in benzene-petrochemicals manufacturing, thus driving the market during the forecast period.

The global benzene-petrochemicals market is expected to grow from $72.41 billion in 2022 to $73.63 billion in 2023 at a compound annual growth rate (CAGR) of 1.7%. The global benzene-petrochemicals market size is expected to grow from $79.56 billion in 2027 at a CAGR of 2.0%.

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Global Benzene-Petrochemicals Market Segments Include:

• By Manufacturing Process: Pyrolysis Steam Cracking of Naphtha, Catalytic Reforming of Naphtha, Toluene Hydrodealkylation, Toluene Disproportionation, From Biomass
• By Derivative: Ethylbenzene, Cumene, Alkylbenzene, Aniline, Chlorobenzene, Cyclohexane, Maleic Anhydride, Other Derivatives
• By Application: Plastics, Resins, Synthetic Fibers, Rubber Lubricants
• By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global benzene-petrochemicals market in 2021.

Major Market Players in the benzene-petrochemicals market include Ameriya Oil Ref. Co., Angarsk Petrochemical, Alexandria National Refining, and Petrochemicals Company (ANRPC).

Many companies in the benzene market are focusing on research and developmental activities to discover new technologies and processes for the production of benzene. The technologies developed are expected to help curb environmental issues. For instance, in January 2021, Covestro, a German materials company received its first delivery of 2,000 metric tons of sustainable benzene from Total, a France-based petroleum company. The delivery enables Covestro to contribute to the circular economy. In addition, in May 2020, BioBTX, a Netherlands-based circular chemistry technology developer announced its plan to build the world’s first commercial production facility for sustainable aromatics such as benzene. The increase in such technological advances to reduce emissions will gain traction and contribute to the growth of the market.

The Benzene-Petrochemicals Global Market Report 2023 provides a benzene-petrochemicals market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The benzene-petrochemicals market forecast analyzes benzene-petrochemicals market size, benzene-petrochemicals market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Benzene petrochemical refers to an aromatic hydrocarbon produced from cracked gasoline. It is highly flammable and has a sweet odor. Benzene is manufactured naturally by volcanoes and forest fires.

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