LONDON, Dec. 15, 2021 (GLOBE NEWSWIRE) -- Benzene is a common industrial chemical. Benzene is found in crude oil and is a significant component of gasoline. Plastics, resins, synthetic fibers, rubber lubricants, dyes, detergents, drugs, and pesticides are all made from it. It is primarily used as a starting chemical in the process of producing other products, typically to produce chemicals that will later be used in the production of plastics, nylon, resin, dyes, lubricants, synthetic fibers, detergents, rubbers, pesticides, gasoline, and others. It is primarily used as a solvent in the pharmaceutical industry and can be found in some medications. Benzene was previously used as an industrial solvent and a gasoline additive, though these applications have declined dramatically over the last several decades.
Download Sample Pages Of this report –
https://www.acumenresearchandconsulting.com/request-sample/2844
Global Benzene Market Dynamics
Rising demand for polyster, low cost of feedstock, and economical commodity product are some of the factors driving the growth of the global benzene market. Furthermore, rising demand for methylene diphenyl diisocyanate for the production of polyurethane foams used in furniture and construction has fueled the growth of the benzene market. The negative impact of benzene and its derivatives on the environment and human health is a constraint for the global benzene market. However, rising demand for benzene derivatives in the automotive and construction industries for the production of synthetic rubber has increased global benzene demand.
View Table Of Content of this report - https://www.acumenresearchandconsulting.com/benzene-market
Regional Overview
The global Benzene market is divided into five regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Global benzene capacity continues to grow steadily, primarily in the eastern parts of the world, particularly Asia and the Middle East. Due to increasing markets for end users like packaging, construction, home appliances and electronics in India and China, Asia Pacific region is dominating the market. Asia-Pacific presently leads the consumption of benzene with around 50% share of global consumption. However, Benzene demand in North America and Europe is anticipated to grow moderately through the forecasting years. Sustained level of demand for key chemical derivates such as nitrobenzene, cumene and cyclohexane will continue to prop up growth in these markets. Furthermore, the high demand for gasoline in North America necessitated increased processing capacity and aromatic octane production from refiners. As a result, refineries began to limit their exports of benzene and other petrochemical feedstocks at a time when the petrochemicals industry in China and elsewhere in Asia was thriving.
To receive personalized service, please share your research needs here@ https://www.acumenresearchandconsulting.com/request-customization/2844
Market Segmentation
The derivatives segment is divided into Ethylbenzene, Cumene, Alkylbenzene, Aniline, Chlorobenzene, Cyclohexane, Maleic Anhydride, and Others. In 2020, the Ethylbenzenesegment acquired the maximum share. Ethylbenzene is commercially produced in industrial plants from benzene and ethylene, and over 98 percent of synthetic ethylbenzene is used as a raw material in the production of styrene monomer. Ethylbenzene is a naturally occurring component of automotive, diesel, and aviation fuels. Furthermore, ethylbenzene is found in crude petroleum streams and is a major component of mixed xylenes, which are used as a solvent in some spray paints, coatings, wood stains and varnishes, paint removers and thinners, agricultural and household insecticide sprays, dyes, rubber adhesives, rust preventatives, and household and automotive cleaners.
The applications segment is further classified into Plastics, Resins, Synthetic fiber, Rubber lubricants, Dyes, Detergents, Drugs, Pesticides, and Others. Benzene is used in the production of chemical and plastic products. Resins, adhesives, and synthetic products such as nylon, styrene, and Styrofoam are examples. Benzene is used in the production of detergents, insecticides, herbicides, pesticides, and dyes. Furthermore, benzene is used in the manufacture of tyres and rubber. Manufacturers use benzene-containing products as solvents in various stages of production. Benzene is present in the adhesives used to attach shoe soles to shoes. Furthermore, benzene is frequently found in printing ink. Furthermore, Benzene can be found in a variety of paints, such as base and top coats, lacquers, spray paints, sealers, and stains.
Major Players
Some of the major players in the market include BASF SE, Chevron Phillips Chemical Company LLC, Exxon Mobil Corporation, Royal Dutch Shell PLC, and LG Chem., China Petroleum & Chemical Corporation, The Dow Chemical Company, Total S.A., among others.
- In January 2021, Total and Covestro have formed a partnership to supply sustainable benzene. Total will provide 2,000 tones of ISCC Plus-certified benzene to Covestro, which will use it to make important precursors for various applications such as alternative raw material drop-in solution for more sustainable insulation boards, automotive parts, and cooling units.
View Complete Table of Content
ACCESS THIS PREMIUM RESEARCH REPORT - https://www.acumenresearchandconsulting.com/buy-now/0/2844
Would like to place an order or any question, please feel free to contact at sales@acumenresearchandconsulting.com | +1 407 915 4157
About Acumen:
Acumen Research and Consulting is a global provider of market intelligence and consulting services to information technology, investment, telecommunication, manufacturing, and consumer technology markets. ARC helps investment communities, IT professionals, and business executives to make fact based decisions on technology purchases and develop firm growth strategies to sustain market competition. With the team size of 100+ Analysts and collective industry experience of more than 200 years, Acumen Research and Consulting assures to deliver a combination of industry knowledge along with global and country level expertise.
For Latest Update Follow Us:
https://www.facebook.com/acumenresearchandconsulting
https://www.linkedin.com/company/acumen-research-and-consulting
Website- https://amecoresearch.com
Our Blogs -
http://www.timestechpharma.com
