Benzene Market Share, Trends, Analysis by Application to 2021
“Steam cracking of naphtha followed by its extractive distillation is a conventional route for producing benzene. Benzene is also produced from hydroalkylation of toluene.�
Global benzene market is segmented on the basis of derivatives, application and geography. Benzene is a basic petrochemical that is obtained as a by-product during production of ethylene and propylene. Steam cracking of naphtha followed by its extractive distillation is a conventional route for producing benzene. Benzene is also produced from hydroalkylation of toluene. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/benzene-market Synthetic rubber industry is the largest consumer of benzene, wherein it is processed for producing derivatives such as ethylbenzene, a precursor to styrene used to manufacture Styrene-Butadiene Resins (SBR), Styrene Butadiene Latex (SB Latex), etc. Benzene is a hydrocarbon that contains six carbon and six hydrogen atoms. Benzene is one of the constituents of crude oil. Its chemical structure is cyclic with atoms joined by continuous pi-bonds. It is a colourless, highly flammable liquid with a sweet odour. It is basically used as a predecessor to heavy chemicals such as ethylbenzene and cumene. Thus, it is an essential chemical to gasoline as its high octane number enhance the antiknocking characteristics of gasoline. Hence, benzene being carcinogenicin nature is thus not used for non-industrial purposes.
Globally, the benzene market rapidly increasing due to the rapid growth in automotive industry, heavy demand for ethylene and paraxylene and gasoline has increased direct supply of benzene. The benzene market is therefore expected to grow during the forecast period. On the basis of derivatives, the benzene industry is segmented into alkylbenzene, chlorobenzene, aniline, cumene, cyclohexane, ethylbenzene, maleic anhydride, and nitrobenzene and so on. Get a Sample Copy of This Report @ https://www.millioninsights.com/industry-reports/benzene-market/requestsample “Ethylbenzene� derivatives are extensively used across automotive industry to manufacture tyres and other automotive components. Hence, the growth in automotive industry is the prime driver for benzene market. Cumene, cyclohexane and nitrobenzene are other derivatives of benzene which are used mainly for manufacturing of protective coatings, nylon fibers and detergents. On the basis of application, the benzene market is segmented into rubbers, lubricants, dyes, detergents, drugs, pesticides and so on. On the basis of geography, the benzene market is segmented into North America, Asia Pacific, Europe, Latin America and Middle East & Africa. Asia-Pacific is the most promising chemical market and is expected to be the same in the coming years. Asia-Pacific is the largest market of benzene to consume a significant percent of the entire global demand in the past few years, and also for most of its derivatives that include ethylbenzene, cyclohexane, cumene, nitrobenzene and alkylbenzene. It is estimated that China and Japan were the biggest consumers of benzene in the region followed by South Korea in the past while India is expected to be the fastest growing market of benzene. See More Reports of This Category by Million Insights @ https://www.millioninsights.com/industry/chemicals The continuous rise in the production of end products for use within the region and for exports derives a huge demand for chemicals. A few of the reasons for the high growth in this region are growing population, vast economies developed as well as developing and favourable investment policies and government initiatives to promote industrial growth. The global key players in benzene market are Exxon Mobil Corporation, China Petroleum & Chemical Corporation, Royal Dutch Shell Plc., The Dow Chemical Company, JX Holdings Inc., China National Petroleum Corporation, Total S.A., Saudi Basic Industries Corporation, BP Plc, BASF SE, Shell Global, Amreya Petroleum Refining, Chevron Philips Chemical, Flint Hills Resources, Fujian Refining & Petrochemical, Sunoco Chemicals and Sinopec. Browse Full Research Report @ https://www.millioninsights.com/industry-reports/benzene-market
Get in touch At Million Insights, we work with the aim to reach the highest levels of customer satisfaction. Our representatives strive to understand diverse client requirements and cater to the same with the most innovative and functional solutions. Contact Person: Ryan Manuel Research Support Specialist, USA Email: ryan@millioninsights.com
Global Headquarters
Asia Pacific
Million Insights
Million Insights
Felton Office Plaza 6265 Highway 9 Felton, California 95018, United States
Office No. 302, 3rd Floor, Manikchand Galleria, Model Colony, Shivaji Nagar, Pune, MH, 411016 India
Phone: 1-408-610-2300 Email: sales@millioninsights.com
Visit Our Blog: www.millioninsights.blogspot.com
Phone: 91-20-65300184 Email: sales@millioninsights.com