#ethylbenzene market
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Ethylbenzene Market Revenue Share & Revenue Growth Over The Forecast Period Upto 2027
Ethylbenzene Market stood at over USD 25 billion in 2027 and is expected to register a CAGR of over 2.8% during the forecast period.
The market is negatively impacted by COVID-19 in 2020. Considering the pandemic scenario, the construction and automotive manufacturing activities were stopped temporarily during the government-imposed lockdown, thus had decreased the demand for the ethylbenzene-based polymer and other products including automotive dashboards, exterior panels, styrene-acrylic emulsions, solvents, and reagents for paints and coatings, and others, which in turn has negatively impacted the demand for the ethylbenzene market. However, the demand for packaging, based on ethylbenzene’s derivative polystyrene has increased in the food and e-commerce packaging segment during the current situation, thereby stimulating the demand for the market studied.
The global demand for ethylbenzene has increased in the last couple of years. The growth of the global market is primarily driven by its increasing application in styrene production, chemical intermediates, and various end-use industries. Furthermore, the mergers and acquisitions in the chemical industry are also expected to fuel the market growth during the review period.
Competitive Analysis
Some of the key players operating in the global ethylbenzene market are.
Synthos S.A. (Germany)
Total S.A. (France)
Versalis (Italy)
ufu Xindi Chemical Research Limited Company. (China)
LyondellBasell Industries (The Netherlands)
Zhejiang Weishi Biotechnology Co.
Ltd (China)
SABIC (Saudi Arabia)
DowDuPont (US)
BASF SE (Europe)
Segment Analysis
The global ethylbenzene market has been segmented on the basis of application, end-use industry, and region.
Based on application, the global ethylbenzene market has been segmented into gasoline, paint & coatings, natural gas, asphalt & naphtha, diethylbenzene, and others. The gasoline segment accounted for more than half of the market share in terms of volume and value in 2018. Thus, an optimistic application outlook of ethylbenzene in end-use industries across the globe is expected to drive the demand during the forecast period. Pesticides is expected to be the fastest-growing segment in Asia-Pacific during the forecast period. The growth is attributed to the expanding chemical and paints & coatings industries.
By end-use industry, the global market has been segregated into polymers, construction, agricultural, packaging, paints & coatings, electronics, and other industrial. The polymers segment accounted for the largest market share owing to their increasing use in the production of styrene, which is later used to produce polystyrene, ABS resins, unsaturated polyester resins, SB latex, and SB rubber. Likewise, the increasing demand for ethylbenzene in intermediate chemical production is expected to boost the growth of the chemical segment.
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Regional Analysis
The global ethylbenzene market, by region, has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific held the largest market share in 2018, followed by North America and Europe. The surge in polymer production and the growth of the manufacturing industries are some of the prominent factors driving the demand for ethylbenzene across the globe.
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Ethyl Benzene Market 2022-2029 Size, Share, Recent Enhancements And Regional Analysis
Ethyl benzene is a colourless and flammable liquid with a gasoline-like odour that is produced commercially by combining benzene and ethylene. It is a vital component of diesel, automotive, and aviation fuels. In addition, it is found in crude petroleum streams and is also used in mixed xylenes. Xylenes are highly used as a solvent for paint removers, thinners, spray paints, and varnishes, creating a significant demand for xylenes. This, in a way, create positive growth prospects for the ethyl benzene market. Ethyl benzene application further extends as an intermediate in the production of styrene and as a precursor of polystyrene in the petrochemical industry. Polystyrene also finds its application in packaging of consumer goods. Such a favourable scenario is projected to create an impetus in the ethyl benzene market.
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Paced Ethyl Benzene Demand in Styrene Production to Propel Sustained Growth Across Market
Ethyl benzene is utilised in the petrochemical industry for the manufacturing of styrene. Styrene has several use cases which include the development of synthetic rubber and the manufacture of ABS (acrylonitrile-butadiene-styrene). Besides, styrene-based polymers are also widely used in several end-user industries such as agriculture, construction, and petrochemicals. Besides, the growing sales of smartphones is accelerating the expansion of electronic manufacturing plants, fuelling the demand for ethyl benzene. Additionally, the use of styrene has also experienced a significant uptick in the construction sector. This is mainly accredited to its capability to develop gloss, adhesion, and resistance to water in building and deck enamels. The cumulative force of these factors is boosting the demand for styrene. This in turn is projected to augur well for the ethyl benzene market.
Ethyl Benzene as a Paint Solvent to Prolong Market Expansion
Ethyl benzene also acts as a paint solvent and is considered a vital component in motor fuels. Therefore, it is widely used in thinners, paint remover solutions, and household detergents. The accelerated demand from end-use industries is creating remarkable shifts in demand for ethyl benzene. Meanwhile, the growing investments in infrastructure are further facilitating the expansion of paint industry. Moreover, the increased expenditure on aesthetics across commercial and residential sectors is projected to create new revenue opportunities in the market. On the whole, the rising use of ethyl benzene in paints as a solvent will lead the market to sound maturity.
Asia Pacific to Sustain Dominance Amid Thriving Building and Packaging Industries
The burgeoning building and packaging industries have significantly spurred the use of ethyl benzenes as a solvent and reagent in paints and coatings. This is mainly witnessed in major countries of Asia Pacific including China, India, and Japan. Moreover, consumers and investors are significantly increasing their investments in this region. Growing investment in public infrastructure, renewable energy, and commercial projects have influenced the market growth in Asia Pacific. These factors are substantially increasing the demand for ethyl benzene in the region, promoting the holistic growth of the ethyl benzene market in Asia Pacific.
Prominent Market Players
Some of the most competitive players in the ethyl benzene market include Zhejiang Weishi Biotechnology Co. Ltd (China), DowDuPont (US), SABIC (Saudi Arabia), Total S.A. (France), and ufu Xindi Chemical Research Limited Company. (China), Versalis (Italy), LyondellBasell Industries (The Netherlands), Synthos S.A.(Germany), and BASF SE (Europe).
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The global ethylbenzene market size is estimated to expand at a CAGR of 3.9% during the forecast period, 2021–2028.
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Styrene Market Report: Trends, Analysis, and Projections
Styrene, a key monomer in the production of various polymers and plastics, holds a significant position in the global petrochemical industry. This blog explores the dynamics of the global styrene market, analyzing key drivers, applications across industries, emerging trends, and future growth prospects.
Understanding the Styrene Market:
Styrene (C8H8) is an aromatic hydrocarbon obtained from the dehydrogenation of ethylbenzene, primarily used in the production of polystyrene, acrylonitrile-butadiene-styrene (ABS), styrene-butadiene rubber (SBR), and various thermoplastic elastomers.
Market Dynamics:
Polystyrene Production: Styrene is a crucial raw material for manufacturing polystyrene (PS), a versatile thermoplastic used in packaging, disposable containers, insulation, and consumer goods due to its lightweight and insulating properties.
ABS and SBR Production: Styrene contributes to the production of ABS, a high-impact engineering thermoplastic used in automotive parts, appliances, and electronics, as well as SBR, a synthetic rubber widely used in tires, footwear, and industrial applications.
Expanded Polystyrene (EPS): Styrene is essential for producing EPS foam, used in insulation boards, packaging materials, and construction applications due to its lightweight, thermal insulation, and cushioning properties.
Resins and Coatings: Styrene-based resins and coatings find applications in fiberglass-reinforced composites, boat hulls, automotive parts, and protective coatings for metal and concrete surfaces.
Applications Across Industries:
Packaging: Polystyrene foam, containers, packaging materials.
Automotive and Transportation: ABS plastics, SBR rubber for tires.
Construction: EPS insulation, foam boards, building materials.
Consumer Goods: Appliances, electronics, household products.
Market Trends:
Circular Economy Initiatives: Growing emphasis on recycling, sustainability, and circular economy models drive innovations in styrene recycling technologies and the development of bio-based styrene from renewable feedstocks.
Demand from Emerging Economies: Increasing urbanization, infrastructure development, and rising consumer demand in emerging economies fuel the demand for styrene-based products across multiple industries.
Technological Advancements: Innovations in polymerization processes, catalyst technologies, and material science lead to the development of high-performance styrene-based polymers with enhanced properties and applications.
Future Prospects:
The global styrene market is poised for continued growth, driven by the expanding plastics, packaging, automotive, and construction sectors. Sustainable practices, technological innovations, and strategic collaborations will shape the market's evolution towards greener and more efficient production processes.
Conclusion:
Styrene remains a vital component in the production of polymers, plastics, and rubber materials essential for diverse industries. Understanding market trends, regulatory shifts towards sustainability, and technological advancements is crucial for stakeholders in the styrene market. With a focus on innovation, recycling, and market diversification, the styrene market presents promising opportunities for growth and advancements in global industrial applications and sustainable solutions.
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o-Xylene Prices, Price, Pricing, Trend, Supply & Demand and Forecast | ChemAnalyst
o-Xylene Prices, a vital chemical compound used predominantly in the production of phthalic anhydride, is witnessing significant fluctuations in its pricing dynamics. The market for o-Xylene is intricately tied to various factors, including supply chain disruptions, demand shifts, geopolitical tensions, and raw material availability. These dynamics have led to fluctuations in o-Xylene prices, impacting industries ranging from plastics to pharmaceuticals.
One of the primary drivers influencing o-Xylene prices is its production and supply chain dynamics. As o-Xylene is primarily derived from crude oil through processes such as catalytic reforming or ethylbenzene disproportionation, any disruptions in crude oil supply or refining capacities can directly affect its availability and, consequently, its pricing. Additionally, the geographical concentration of o-Xylene production facilities further exacerbates supply chain vulnerabilities, leading to price volatility.
Demand-side factors also play a crucial role in shaping o-Xylene prices. Industries such as plastics, paints, and adhesives heavily rely on o-Xylene as a precursor chemical, making their demand patterns significant determinants of o-Xylene prices. Economic conditions, consumer preferences, and regulatory changes can all influence the demand for products derived from o-Xylene, thereby impacting its market price.
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Geopolitical tensions and trade policies add another layer of complexity to o-Xylene pricing. Trade disputes, sanctions, and geopolitical instability can disrupt the flow of raw materials required for o-Xylene production or impede its transportation, leading to supply shortages and price spikes. Moreover, changes in trade agreements or tariffs can alter the cost structure of o-Xylene, affecting its competitiveness in global markets.
Raw material availability and pricing also exert considerable influence on o-Xylene prices. Ethylene, benzene, and toluene are key raw materials in o-Xylene production, and their prices are closely correlated with o-Xylene prices. Fluctuations in the prices of these feedstocks, driven by factors such as seasonal variations, production disruptions, or shifts in demand, directly impact the cost of o-Xylene production, consequently influencing its market price.
Environmental regulations and sustainability concerns represent another significant factor affecting o-Xylene prices. Stringent environmental standards governing emissions, waste disposal, and chemical manufacturing processes can increase production costs for o-Xylene manufacturers, leading to higher prices. Moreover, growing awareness and demand for sustainable alternatives may compel industries to adopt eco-friendly practices or seek substitutes for o-Xylene, altering its demand-supply dynamics and pricing.
Market sentiment, investor speculation, and macroeconomic trends also contribute to the volatility observed in o-Xylene prices. Speculative trading, supply chain disruptions, or geopolitical events can trigger market speculation, leading to price fluctuations detached from underlying supply-demand fundamentals. Additionally, macroeconomic indicators such as inflation, interest rates, and currency exchange rates can indirectly influence o-Xylene prices by impacting production costs, investment decisions, and consumer purchasing power.
In conclusion, o-Xylene prices are subject to a myriad of factors spanning production, demand, geopolitics, raw materials, regulations, and market sentiment. The interplay of these factors creates a dynamic pricing environment characterized by volatility and uncertainty. To navigate this landscape effectively, stakeholders must closely monitor market developments, assess risk factors, and adapt strategies to mitigate price fluctuations and optimize supply chain efficiency. By understanding the multifaceted nature of o-Xylene pricing dynamics, industries can better anticipate market changes and make informed decisions to ensure their competitiveness and sustainability in the global marketplace.
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The Green Revolution: Unveiling the Wonders of Lactic Acid
In the pursuit of sustainable and eco-friendly solutions, lactic acid has emerged as a star player in various industries, showcasing its versatility and positive environmental impact. This organic acid, derived primarily from renewable resources, brings a host of benefits to the table. Let's explore the wonders of lactic acid:
1. Biodegradability and Renewability: Lactic acid is a byproduct of fermentation, often sourced from renewable resources such as corn starch or sugarcane. Its biodegradable nature makes it a champion in the quest for environmentally conscious alternatives. From packaging materials to personal care products, lactic acid offers a sustainable choice that minimizes environmental impact.
2. Green Chemistry in Action: As industries shift towards green chemistry, lactic acid plays a pivotal role in the development of environmentally friendly materials. It serves as a building block for the production of polylactic acid (PLA), a bioplastic that has gained popularity as a sustainable substitute for traditional petroleum-based plastics.
3. Cosmetic and Pharmaceutical Applications: Lactic acid's gentle exfoliating properties make it a sought-after ingredient in the cosmetic and skincare industry. Its use in peels, creams, and serums contributes to smoother skin while aligning with the demand for natural and sustainable beauty products. Additionally, lactic acid is utilized in the pharmaceutical field for drug delivery systems and various medical applications.
4. Food and Beverage Preservation: In the food and beverage industry, lactic acid serves as a natural preservative. Through the process of fermentation, it not only enhances flavors but also inhibits the growth of harmful bacteria, extending the shelf life of products without the need for synthetic additives.
5. Cleaner Industrial Processes: Lactic acid's presence extends beyond consumer products to industrial processes. Its use in cleaning products, as a corrosion inhibitor, and in wastewater treatment underscores its role in promoting cleaner and more sustainable industrial practices.
As we navigate the challenges of a rapidly changing world, lactic acid emerges as a beacon of sustainable innovation. Its applications span across diverse industries, offering a green alternative that aligns with the growing demand for environmentally responsible choices. Embracing lactic acid not only marks a step towards a greener future but also underscores the transformative power of nature-inspired solutions in shaping a sustainable world.
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Riding the Wave: Mixed Xylene Market's 6.23% CAGR Ascent
According to the ChemAnalyst report titled "Mixed Xylene Market Analysis: Industry Market Size, Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, Manufacturing Process, Policy and Regulatory Landscape, 2015-2032," the Mixed Xylene market is expected to experience significant growth and reach approximately 46 million tonnes in 2022, with an expected CAGR of 6.23% during the forecast period until 2035. This growth is driven by the rising demand for Mixed Xylene in various industries, including Isomers, gasoline blending, solvents, and others.
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Mixed Xylene is an equilibrium mixture of four isomers, including meta-xylene, ortho-xylene, para-xylene, and ethylbenzene. These isomers are commonly produced together through pyrolysis and catalytic reforming methods. Mixed Xylenes are flammable, colorless, and slightly greasy in nature. They are derived from various sources, with petroleum being a major one. Among these isomers, para-Xylene is the most widely used for the production of Polyethylene Terephthalate (PET), Purified Terephthalic Acid (PTA), solid-state resins, PET films, and other applications. Mixed Xylenes are considered important aromatic products and can be used as a replacement for toluene when a slower drying rate is required. Their high octane number and low vapor pressure make them suitable for blending with gasoline and as solvents for paints and pesticides.
Mixed Xylenes have a wide range of agricultural and industrial applications and are used in the manufacturing of adhesives, paints and coatings, leather, agricultural sprays (such as pesticides), surface coatings, gasoline blends, and more. The paint and coating industries are significant consumers of Mixed Xylene, with a large portion of these chemicals used in leather products, topcoats in particular. They are also preferred solvents in pesticides due to their uniform drying and high spraying efficiency. The pesticide industry, especially in Asia Pacific, is expected to drive demand for Mixed Xylene.
The primary drivers of the Mixed Xylene market include its use as a feedstock chemical for the separation of isomers and its role in gasoline blending in the petroleum industry. Increasing demand for para-xylene for the production of PET bottles by beverage manufacturers is expected to boost the demand for polyester resins, further supporting the Mixed Xylene market's growth. Additionally, the demand for Mixed Xylene as a solvent in various manufacturing industries is propelling its overall demand in the international market.
Asia-Pacific (APAC) holds the largest share of the Mixed Xylene market due to increased demand for solvents and polyesters, driven by expanding applications in the region's construction and automotive industries. China serves as a leading manufacturer of Mixed Xylene, followed by the United States. Key producers and exporters of Mixed Xylene in the APAC region include China, Japan, and South Korea.
Based on end-use, the global Mixed Xylene market is segmented into Isomers, gasoline blending, solvents, and other end-use industries. The Isomers industry accounts for the majority of global Mixed Xylene consumption, with an 85% share in 2021. Gasoline blending and solvents also contribute significantly to the demand for Mixed Xylene.
Key players in the global Mixed Xylene market include China Petroleum & Chemical Corporation (Sinopec), Reliance Industries Limited, Exxon Mobil Corp., SK Global Chemical, Hanwha TotalEnergies Petrochemical, China National Petroleum Corporation, China's Fuhaichuang Petroleum and Petrochemical, Sumitomo Chemical Co., Ltd & Saudi Aramco, Hengli Petrochemical Refinery, Zhejiang Petroleum & Chemical Co Ltd, Hyundai Cosmo Petrochemical (a joint venture of Hundai Oilbank & Cosmo Oil), and Ningbo Zhongjin PetroChemical Co., Ltd.
Mr. Karan Chechi, Research Director at TechSci Research, a global management consulting firm associated with ChemAnalyst, highlighted that the downstream applications of Mixed Xylene in industries like leather, adhesives, paints, and coatings have contributed to impressive growth, along with changing macro-economic factors and consumer preferences. The high octane number and low vapor pressure of Mixed Xylene have led to its application in gasoline blending, which is expected to drive demand in the forecast period until 2035. Additionally, China, with substantial installed capacity and advanced technology, is the fastest-growing region for Mixed Xylene production.
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Global Ethylbenzene Market Report 2032 - Market Size, Share, Price, Trend and Forecast
The global ethylbenzene market is expected to secure US$ 31 Billion while exhibiting a 3.5% growth rate during the forecast period. The market is estimated at US$ 21.3 Billion in 2021 and US$ 21.9 Billion in 2022. The growth of the market can be attributed to the extensive usage of ethylbenzene for the production of styrene.
The increasing use of ethylbenzene in end-use industries such as packaging, electronics, construction, and agriculture is expected to boost the growth of the global ethylbenzene market during the forecast period. From 2015 to 2021, the market for ethylbenzene grew at a CAGR of 2.6%, closing at a value of US$ 21.3 Billion. As of 2022, the industry is likely to reach US$ 21.9 Billion.
On the contrary, the increasing concerns related to ethylbenzene hazards are expected to hinder market expansion in the coming time. In addition to it, stringent rules and regulations of various governments regarding the usage of ethylbenzene are other factors projected to hamper the industry growth in the forecast period.
Leading Companies Profiled in Ethylbenzene Market are
IHS Inc.,
International Finance Corporation,
3E Company,
CMO Software,
Enablon North America Corporation
Competitive Analysis
Eminent players in the global ethylbenzene market include IHS Inc., International Finance Corporation, 3E Company, CMO Software, and Enablon North America Corporation, among others. In addition, the vendors are likely to leverage upgradation and product differentiation to gain an edge over other competitors in the market.
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Key Segments Covered in the Ethylbenzene Industry Survey
Ethylbenzene Market by Application:
Ethylbenzene for Gasoline
Ethylbenzene for Diethylbenzene
Ethylbenzene for Natural Gas
Ethylbenzene for Paint
Ethylbenzene for Asphalt and Naphtha
Ethylbenzene Market by End User Industry:
Ethylbenzene in Packaging
Ethylbenzene in Electronics
Ethylbenzene in Construction
Ethylbenzene in Automotive
Ethylbenzene in Agriculture
Ethylbenzene in others.
Ethylbenzene Market by Region:
North America Ethylbenzene Market
Europe DNA Ethylbenzene Market
Asia-Pacific DNA Ethylbenzene Market
Middle East & Africa Ethylbenzene Market
Latin America Ethylbenzene Market
More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global ethylbenzene market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032. The study reveals essential insights on the basis of Application by End-user industry & Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)
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Benzene Market Size, Growth | Global Industry Analysis & Forecast, 2030 | ChemAnalyst
According to ChemAnalyst report, “Global Benzene Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030”, global Benzene market has shown considerable growth in historic period and is anticipated to achieve a CAGR of 2.9% during the forecast period. As the demand of Benzene is rapidly increasing for the production of aromatics from petrochemicals industry is likely to propel the benzene market in upcoming years. Due to the increased urbanization, the demand of benzene for consumer products such as furniture wax, thinners, detergents, industrial solvents, paints and others have also increased. The production of benzene is highly associated with safety standards on human health as well as environment which further enhances the compliance standards.
Read Full Report Here: https://www.chemanalyst.com/industry-report/benzene-market-56
Benzene with a molecular formula, C6H6, is an organic compound which is a colorless and highly flammable aromatic Hydrocarbon and parent compound of many other important aromatic compounds. It is widely used as a feedstock in four chain of petrochemicals including Isocyanates, Phenolics, Nylon and Styrenics. It is produced by oil refining process as a by-product and can be found in gasoline, crude oil and cigarette smoke. Long term exposure to Benzene can result in detrimental health effects as a potential carcinogen and environmental effects. The chemical processes that are involved in the industrial manufacturing of Benzene are Toluene Hydrodealkylation, Catalytic reforming, Toluene disproportionation, and steam cracking. Catalytic reforming process is frequently used in the US as a major source of Benzene.
Benzene has numerous domestic and Industrial applications as they are extensively used in the manufacturing of plastics, resins, rubber lubricants, synthetic fibers, dyes, drugs, pesticides, detergents and others. It is primarily used as a solvent in chemical and pharmaceutical industries. Consumption of Benzene in various sectors including automotive and aerospace is expected to boost the Benzene market in the upcoming years. Several companies that manufacture Benzene and its derivatives such as ethylbenzene, cumene, alkylbenzene, aniline, cyclohexane etc are expanding their sales and production as it is used as a key solvent in several commercial, industrial and research operations. Owing to the growing urbanization, derivatives such as Cyclohexane is likely to boost the textile industry as it is required as a raw material to produce Nylon. Demand of Benzene derivates in paint and coating industry is further expected to witness a growth in Benzene market worldwide. Due to the diving demand, the prices of benzenes and its derivatives hit 18-year record low at the end of final quarter of 2020. Improved performance of crude oil can help in achieving a complete recovery in petrochemical derivatives. Additionally, surging demand for its derivatives, Acetone and Styrene from pharmaceutical and packaging sector is anticipated to push the demand recovery for Benzene during the forecast period. In Asia Pacific and Middle East, the demand of Styrene is continuously growing due to increased demand for rubber tires in both regions.
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In 2020, due to the onset of COVID-19, the Benzene market was negatively impacted during the pandemic. Due to government restrictions and nationwide lockdowns, Automotive industry halted their operations which minimized the demand of Benzene and its derivatives. Several companies that manufacture Benzene underwent indefinite turnarounds in order to recover the loss in their revenues and to idle the excessive inventories in Q4 of 2020 on severe demand disruption and global supply chain pressured by Coronavirus. Thai company IRPC Pcl delayed a project of expanding the Benzene capacity of around 400KTPA as a response.
Region wise, APAC region holds the largest share of Benzene market worldwide. Due to increasing capacity of downstream para-xylene in China, it is driving the consumption of Benzene in Asia Pacific. In China, India and ASEAN countries, the demand of Benzene is driven by the increased markets for end-users like packaging, electronics and home appliances, and construction.
According to ChemAnalyst report, Global Benzene Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Application, End Use, Distribution Channel, Region, Competition, Trade, Customer & Price Intelligence Market Analysis, 2015-2030, some of the major players operating in global Benzene market include Royal Dutch Shell Plc., China National Petroleum Corporation (Sinopec), ExxonMobil Corporation, Saudi Basic Industries Corporation, Haldia Petrochemicals Limited, JX Holdings, Inc., GS Caltex, Reliance Industries Limited, Indian Oil Corporation Limited, Bharat Petroleum Corporation Limited and Others.
“Being linked to the downstream applications in automotive, adhesives, paint and coatings, detergents and others, the global Benzene Industry has shown significant growth along with increased macro-economic factors and changing in the consumer preference. It is expected that India is going to become the world's fifth largest consumer market in the upcoming years. In addition, growing per capita income in various Countries poised a stronger outlook to the country’s Benzene demand. The government restrictions on travel ban due to the global crises affected the global supply chain logistics and caused immediate shortage of key feedstock chemicals hence increased the prices of Benzene Meanwhile, China serves as the key growth region as well with sufficiently installed capacities and developing technologies. With new competitors emerging across the Asian Benzene market, it is extremely important to keep a focus on which region will grab the biggest market share during the forecast period.” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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