Benzene-Petrochemicals Global Market Sees Growth Rate Of 4% Through 2022

The global benzene-petrochemicals market size is expected to grow from $65.57 billion in 2021 to $67.97 billion in 2022 at a compound annual growth rate (CAGR) of 3.70%. The global benzene-petrochemicals market size is expected to grow to $77.56 billion in 2026 at a CAGR of 3.40%.

What is the Global Benzene-Petrochemicals Market?

The benzene-petrochemicals market consists of sales of benzene and related services by entities that produce benzene.

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What drives the Global Benzene-Petrochemicals Market?

The increased use of styrene to drive the benzene market. The benzene derivate 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 of 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%.

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Global Benzene-Petrochemicals Market Segments
The global benzene-petrochemicals market is segmented:
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 regions covered in the benzene-petrochemicals market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global benzene-petrochemicals market.

Benzene-Petrochemicals Global Market Report 2022provides market size and growth forecasts for the global benzene-petrochemicals market, global benzene-petrochemicals market share, benzene-petrochemicals market segments and geographies, benzene-petrochemicals market competitive landscape including leading competitors’ revenues, profiles and market shares. The benzene-petrochemicals market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.

Global Benzene-Petrochemicals Industry Playersinclude in the benzene-petrochemicals market are Ameriya Oil Ref. Co., Angarsk Petrochemical, Alexandria National Refining, and Petrochemicals Company (ANRPC), Arsol Aromatics GmbH & Co. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.