Market Research Report
Published: April 1, 2021
Global Industry Analysts, Inc.
Content info: 254 Pages
Delivery time: 1-2 business days
Global Benzene Market to Reach 54.3 Million Tons by 2027
Amid the COVID-19 crisis, the global market for Benzene estimated at 48.4 Million Tons in the year 2020, is projected to reach a revised size of 54.3 Million Tons by 2027, growing at a CAGR of 1.7% over the analysis period 2020-2027. Alkyl Benzene, one of the segments analyzed in the report, is projected to record a 1.2% CAGR and reach 7.2 Million Tons by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Cumene segment is readjusted to a revised 1.6% CAGR for the next 7-year period.
The U.S. Market is Estimated at 13.1 Million Tons, While China is Forecast to Grow at 3.2% CAGR
The Benzene market in the U.S. is estimated at 13.1 Million Tons in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of 10.3 Million Tons by the year 2027 trailing a CAGR of 3.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 0.2% and 1.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 0.6% CAGR.
Cyclohexane Segment to Record 2% CAGR
In the global Cyclohexane segment, USA, Canada, Japan, China and Europe will drive the 1.6% CAGR estimated for this segment. These regional markets accounting for a combined market size of 6.2 Million Tons in the year 2020 will reach a projected size of 7 Million Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 7.2 Million Tons by the year 2027, while Latin America will expand at a 2.6% CAGR through the analysis period.
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