Who are the major global producers of benzene?
Benzene is one of the key raw materials used in the manufacture of plastics, resin, nylons and synthetic fibers. The global market of benzene has reached around $1.5 billion in 2019. The main regions which produced benzene for the global market are North America, Western Europe, Asia Pacific, Eastern Europe, South America and Middle East & Africa. Among all these regions Asia Pacific is the largest region contributing in the global benzene market. The biggest regional benzene and its derivatives consumers are Japan and China followed by South Korea and India. This is mainly due to an increase in the number of manufacturing facilities in developing countries such as India and China which is accompanied by the cheap labor availability.
The demand for benzene is also affected by the increasing demand for benzene as solvents in manufacturing chemicals and plastic products. The increasing demand of styrene-based polymers and copolymers due to its light-weight nature is also driving the demand of benzene in the automotive furniture and construction industries.
The leading industries in the global benzene market are Ameriya Oil Ref. Co., Angarsk Petrochemical, Reliance Industries Limited, Shell, Alexandria National Refining and Petrochemicals Company (ANRPC), Arsol Aromatics, Atyrau Oil & Gas, BASF SE, China National Petroleum Corporation (CNPC) etc. And, few of the major countries contributing to the global market of benzene are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia.
The global market of benzene is mainly segmented into 3 parts:
• Based on manufacturing Process: Pyrolysis Steam Cracking of Naphtha, Catalytic Reforming of Naphtha, Toluene Hydrodealkylation, Toluene Disproportionation, From Biomass
• Based on derivative: Ethylbenzene, Cumene, Alkylbenzene, Aniline, Chlorobenzene, Cyclohexane, Maleic Anhydride, Other Derivatives
• Based on end use/ application: Plastics, Polymers, Resins, Synthetic Fibers, Rubber Lubricants