The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

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

The global benzene market is expected to grow from $65.57 billion in 2021 to $71.79 billion in 2022 at a compound annual growth rate (CAGR) of 9.5%. The global benzene-petrochemicals market size is expected to grow to $73.03 billion in 2026 at a CAGR of 0.4%.

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Global Benzene 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 market in 2021.

Major Market Players in the benzene market include Ameriya Oil Ref. Co., Angarsk Petrochemical, Alexandria National Refining, and Petrochemicals Company (ANRPC), Arsol Aromatics GmbH & Co. KG.

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, Reliance Industries Limited entered into a joint venture with the Indian Institute of Petroleum (IIP), Dehradun, to develop a technology that restricts benzene content in the gasoline pool to address health and environmental concerns. The increase in such technological advances to reduce emissions will gain traction and contribute to the growth of the market.

The Benzene Global Market Report 2023  provides a benzene market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The benzene market forecast analyzes benzene market size, benzene 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 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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