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How much is the benzene-petroChemicals market worth, and how is it expected to expand?
The benzene-petroChemicals market size has grown steadily in recent years. It will grow from $75.38 billion in 2024 to $77.98 billion in 2025 at a compound annual growth rate (CAGR) of 3.4%. The growth in the historic period can be attributed to increasing demand for plastics, growing population and urbanization, rising disposable incomes, expanding industrialization, feedstock availability, growing Chemicals and Chemicals production.
The benzene-petroChemicals market size is expected to see steady growth in the next few years. It will grow to $90.39 billion in 2029 at a compound annual growth rate (CAGR) of 3.8%. The growth in the forecast period can be attributed to demand from automotive industry, growing Metal & Construction and infrastructure development, petrochemical industry growth, consumer goods manufacturing, economic growth. Major trends in the forecast period include advanced petrochemical technologies, bio-based benzene, specialized and high-value Chemicals, digitalization and industry 4.0, specialized benzene derivatives.
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Which industry factors have accelerated the benzene-petroChemicals market’s expansion?
The increased use of styrene is driving the benzene market The benzene derivative ethylbenzene is majorly used in the manufacturing of styrene. Styrene is used in the production of various products, such as styrene-acrylonitrile (SAN), acrylonitrile-butadiene-styrene (ABS), polystyrene, styrene-butadiene elastomers, latexes, unsaturated polyester resins, among others. There is an increased demand for styrene-based polymers and copolymers in the automotive industry due to their lightweight nature. For instance, according to the American Chemistry Council (ACC), the fuel economy of a vehicle can improve by 6–8% by reducing the weight of a vehicle by 10%. Usage of plastics like styrene can reduce the weight of vehicles, thereby improving fuel economy. The use of styrene has also benefited manufacturers by reducing vehicle assembly time and costs. These advantages of the usage of styrene-based polymers and copolymers, especially in the automotive industry, are expected to contribute to the growth of the benzene market.
What are the primary segments of the benzene-petroChemicals market?
The benzene-petroChemicals market covered in this report is segmented –
1) By Manufacturing Process: Pyrolysis Steam Cracking Of Naphtha, Catalytic Reforming Of Naphtha, Toluene Hydrodealkylation, Toluene Disproportionation, From Biomass
2) By Derivative: Ethylbenzene, Cumene, Alkylbenzene, Aniline, Chlorobenzene, Cyclohexane, Maleic Anhydride, Other Derivatives
3) By Application: Plastics, Resins, Synthetic Fibers, Rubber Lubricants
Subsegments:
1) By Pyrolysis Steam Cracking Of Naphtha: Thermal Cracking, Catalytic Cracking
2) By Catalytic Reforming Of Naphtha: Platforming Process, Reforming With Zeolite Catalysts
3) By Toluene Hydrodealkylation: Fixed-Bed Reactor Process, Fluidized-Bed Reactor Process
4) By Toluene Disproportionation: High-Pressure Process, Low-Pressure Process
5) By From Biomass: Bio-Based Benzene From Lignocellulosic Biomass, Bio-Based Benzene From Sugarcane And Other Feedstocks
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Which firms are leading the benzene-petroChemicals market?
Major companies operating in the benzene-petroChemicals market include Angarsk Petrochemical Company, Alexandria National Refining and PetroChemicals Company, Arsol Aromatics GmbH & Co. KG, Atyrau Oil & Gas, BASF SE, Borealis AG, BP plc, Braskem SA, Chevron Phillips Chemical Company, China National Petroleum Corporation, China Petrochemical Corporation, China Petroleum & Chemical Corporation (Sinopec), CPC Corporation Limited, Deza AS, Eastman Chemical Company, Egyptian PetroChemicals Holding Company, Exxon Mobil Corporation, Flint Hills Resources LLC, Gadiv Petrochemical Industries Ltd., Gazprom Neft PJSC, GS Caltex Corporation, INEOS Group, JSC Mozyr Oil Refinery, ENEOS Holdings Inc., JXTG Nippon Oil & Energy Corporation, Kian Petrochemical Company, Kuwait Aromatics Co. (Karo), LG Chem Ltd., Shell plc, Hengyi Industries Sdn Bhd, Maruzen Petrochemical Co. Ltd., Mitsubishi Chemical Corporation
Which market trends are set to define the future of the benzene-petroChemicals market?
Many companies operating in the benzene petrochemical market are focusing on developing innovative solutions, such as sustainable linear alkylbenzene, to meet growing demand for eco-friendly alternatives and reduce the environmental impact of their operations. Sustainable linear alkylbenzene (LAB) refers to an environmentally friendly version of linear alkylbenzene, which is a key raw material used in the production of biodegradable detergents and cleaning products. For instance, in January 2023, CEPSA Química, S.A., a Spain-based chemical company, launched NextLab-R, the world’s first sustainable linear alkylbenzene (LAB) derived from renewable materials, marking a significant advancement in eco-friendly chemical production. This innovative product reduces carbon emissions by up to 80% compared to traditional LAB made from fossil fuels, thanks to a mass balance approach that integrates renewable raw materials. NextLab-R maintains the same performance characteristics as conventional LAB, allowing manufacturers to enhance the sustainability of their detergent formulations without altering existing recipes.
Which geographic trends are shaping the benzene-petroChemicals market, and which region has the highest market share?
Asia-Pacific was the largest region in the benzene-petroChemicals market in 2023. Middle East was the second-largest region in the global benzene-petroChemicals market. The regions covered in the benzene-petroChemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
What Does The Benzene-PetroChemicals Market Report 2025 Offer?
The benzene-petroChemicals market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
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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