Benzene Market Size, Share, Trends, Industry Analysis Report: By Production Process, Derivative, End-Use, and Region

Description

List of Tables

The global benzene market size is expected to reach USD 90.70 billion by 2034, according to a new study by Polaris Market Research. The report "Benzene Market Size, Share, Trends, Industry Analysis Report: By Production Process (Steam Cracking, Catalytic Reforming, and Others), Derivative, End-Use, and Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Market Forecast, 2025-2034" gives a detailed insight into current market dynamics and provides analysis on future market growth.

Benzene is an organic chemical compound that's highly flammable, has a sweet smell, and is in a liquid state at room temperature. It naturally occurs as a component of crude oil and is also released by volcanoes and forest fires. Benzene can also be produced synthetically using industrial processes such as refining oil into gasoline and turning coal into coke. Benzene is used in various consumer goods and industrial operations, including insecticides, glues, adhesives, plastics, fuel, and synthetic rubber.

The rising production of automobiles, especially electric vehicles, is driving the benzene market growth. Benzene-based plastics and synthetic rubber are used in the manufacturing of various components, such as tires and seat covers. The rising use of epoxy resins, which are derived from benzene in the construction industry, is helping in market expansion. Additionally, the demand for insulation materials made from benzene is increasing due to infrastructure development projects. Additionally, the use of benzene in the pharmaceutical industry as a starting material or as an intermediate compound for the production of some analgesics and antipyretic drugs is boosting the benzene market growth.

Increasing investment in research and development across the globe is a key factor driving the market growth. The use of benzene in the pharmaceutical industry as a starting material or as an intermediate compound for the production of some analgesics and antipyretic drugs and as a starting material for several cleaning products is creating market growth opportunities.

Benzene market key players are focusing on building new manufacturing facilities and boosting the capacity of existing plants, particularly in areas with strong demand or advantageous business conditions. The market is marked by competition, with several market participants located in various regions globally.

Key Highlights of Benzene Market

Based on derivative, the market is segmented as nitrobenzene, cyclohexane, cumene, alkyl benzene, ethyl benzene, and others. In 2024, ethyl benzene had the highest revenue share of any benzene derivative, accounting for 55.80% of the market. This is due to its widespread application in a variety of expanding end-use industries such as electronics, plastic, rubber, and vehicles.

Based on the production process, the market is segmented into steam cracking, catalytic reforming, and others. The catalytic reforming segment dominated the market in 2024, accounting for 52.6% of the total revenue share. This growth can be linked to its ability to produce a high yield of aromatic hydrocarbons such as benzene and toluene, making it a key source for the benzene market.

Asia Pacific dominated the global market in 2024, accounting for 48.5% of total revenue share. The increased use of benzene in construction and automotive products such as paints, flooring, fiberglass, adhesives, and tires is driving market demand in the region.

The North America benzene market is expected to witness the fastest growth during the forecast period, driven by the growing packaging, petrochemical, and pharmaceutical industries, which are the primary end users of benzene in the region.

BASF, Sinopec, China National Petroleum Corporation, Saudi Basic Industries Corporation, Dow DuPont, ExxonMobil Corporation, and Royal Dutch Shell plc. are some of the key players in the market.

Polaris Market Research has segmented the global benzene market report on the basis of derivative by end-use, production process type, and region:

Benzene Market Segmentation

By Derivative Outlook (Revenue - USD Billion, 2020-2034)

Nitrobenzene
Cyclohexane
Cumene
Alkyl Benzene
Ethyl Benzene
Others

By End-Use Outlook (Revenue - USD Billion, 2020-2034)

Pharmaceuticals
Agriculture
Textile
Automobile
Paints & Coatings
Pharmaceutical
Personal Care
Others

Production Process Outlook (Revenue - USD Billion, 2020-2034)

Steam Cracking
Catalytic Reforming
Others

By Regional Outlook (Revenue - USD Billion, 2020-2034)

North America
US
Canada
Europe
Germany
France
UK
Italy
Spain
Netherlands
Russia
Rest of Europe
Asia Pacific
China
Japan
India
Malaysia
South Korea
Indonesia
Australia
Rest of Asia Pacific
Middle East & Africa
Saudi Arabia
UAE
Israel
South Africa
Rest of the Middle East & Africa
Latin America
Mexico
Brazil
Argentina
Rest of Latin America

Product Code: PM1495

1. Introduction

1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
1.2. Stakeholders

2. Executive Summary

2.1. Market Highlights

3. Research Methodology

3.1. Overview
- 3.1.1. Data Mining
3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources

4. Global Benzene Market Insights

4.1. Benzene Market - Market Snapshot
4.2. Benzene Market Dynamics
- 4.2.1. Drivers and Opportunities
  - 4.2.1.1. Rising Demand for Styrene Polymers
  - 4.2.1.2. Growing Demand for Household Cleaning Products
- 4.2.2. Restraints and Challenges
  - 4.2.2.1. Material Cost Volatility
4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry Among Existing Firms (High)
4.4. PESTEL Analysis
4.5. Benzene Market Trends
4.6. Value Chain Analysis
4.7. COVID-19 Impact Analysis

5. Global Benzene Market, by Derivative

5.1. Key Findings
5.2. Introduction
- 5.2.1. Global Benzene Market, by Derivative, 2020-2034 (USD Billion)
5.3. Nitrobenzene
- 5.3.1. Global Benzene Market, by Nitrobenzene, by Region, 2020-2034 (USD Billion)
5.4. Cyclohexane
- 5.4.1. Global Benzene Market, by Cyclohexane, by Region, 2020-2034 (USD Billion)
5.5. Cumene
- 5.5.1. Global Benzene Market, by Cumene, by Region, 2020-2034 (USD Billion)
5.6. Alkyl Benzene
- 5.6.1. Global Benzene Market, by Alkyl Benzene, by Region, 2020-2034 (USD Billion)
5.7. Ethyl Benzene
- 5.7.1. Global Benzene Market, by Ethyl Benzene, by Region, 2020-2034 (USD Billion)
5.8. Others
- 5.8.1. Global Benzene Market, by Others, by Region, 2020-2034 (USD Billion)

6. Global Benzene Market, by End-Use

6.1. Key Findings
6.2. Introduction
- 6.2.1. Global Benzene Market, by End-Use, 2020-2034 (USD Billion)
6.3. Pharmaceuticals
- 6.3.1. Global Benzene Market, by Pharmaceuticals, by Region, 2020-2034 (USD Billion)
6.4. Agriculture
- 6.4.1. Global Benzene Market, Agriculture, by Region, 2020-2034 (USD Billion)
6.5. Textile
- 6.5.1. Global Benzene Market, Textile, by Region, 2020-2034 (USD Billion)
6.6. Automobiles
- 6.6.1. Global Benzene Market, Automobiles, by Region, 2020-2034 (USD Billion)
6.7. Paints & Coatings
- 6.7.1. Global Benzene Market, Paints & Coatings, by Region, 2020-2034 (USD Billion)
6.8. Pharmaceutical
- 6.8.1. Global Benzene Market, Pharmaceutical, by Region, 2020-2034 (USD Billion)
6.9. Personal Care
- 6.9.1. Global Benzene Market, Personal Care, by Region, 2020-2034 (USD Billion)
6.10. Others
- 6.10.1. Global Benzene Market, Others, by Region, 2020-2034 (USD Billion)

7. Global Benzene Market, by Application

7.1. Key Findings
7.2. Introduction
- 7.2.1. Global Benzene Market, by Application, 2020-2034 (USD Billion)
7.3. Steam Cracking
- 7.3.1. Global Benzene Market, by Steam Cracking, by Region, 2020-2034 (USD Billion)
7.4. Catalytic Reforming
- 7.4.1. Global Benzene Market, by Catalytic Reforming, by Region, 2020-2034 (USD Billion)
7.5. Others
- 7.5.1. Global Benzene Market, by Others, by Region, 2020-2034 (USD Billion)

8. Global Benzene Market, by Geography

8.1. Key Findings
8.2. Introduction
- 8.2.1. Benzene Market Assessment, By Geography, 2020-2034 (USD Billion)
8.3. Benzene Market - North America
- 8.3.1. North America: Benzene Market, by Derivative, 2020-2034 (USD Billion)
- 8.3.2. North America: Benzene Market, by End-Use, 2020-2034 (USD Billion)
- 8.3.3. North America: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.3.4. Benzene Market - U.S.
  - 8.3.4.1. U.S.: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.3.4.2. U.S.: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.3.4.3. U.S.: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.3.5. Benzene Market - Canada
  - 8.3.5.1. Canada: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.3.5.2. Canada: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.3.5.3. Canada: Benzene Market, by Application, 2020-2034 (USD Billion)
8.4. Benzene Market - Europe
- 8.4.1. Europe: Benzene Market, by Derivative, 2020-2034 (USD Billion)
- 8.4.2. Europe: Benzene Market, by End-Use, 2020-2034 (USD Billion)
- 8.4.3. Europe: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.4.4. Benzene Market - UK
  - 8.4.4.1. UK: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.4.4.2. UK: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.4.4.3. UK: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.4.5. Benzene Market - France
  - 8.4.5.1. France: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.4.5.2. France: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.4.5.3. France: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.4.6. Benzene Market - Germany
  - 8.4.6.1. Germany: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.4.6.2. Germany: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.4.6.3. Germany: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.4.7. Benzene Market - Italy
  - 8.4.7.1. Italy: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.4.7.2. Italy: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.4.7.3. Italy: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.4.8. Benzene Market - Spain
  - 8.4.8.1. Spain: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.4.8.2. Spain: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.4.8.3. Spain: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.4.9. Benzene Market - Netherlands
  - 8.4.9.1. Netherlands: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.4.9.2. Netherlands: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.4.9.3. Netherlands: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.4.10. Benzene Market - Russia
  - 8.4.10.1. Russia: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.4.10.2. Russia: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.4.10.3. Russia: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.4.11. Benzene Market - Rest of Europe
  - 8.4.11.1. Rest of Europe: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.4.11.2. Rest of Europe: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.4.11.3. Rest of Europe: Benzene Market, by Application, 2020-2034 (USD Billion)
8.5. Benzene Market - Asia Pacific
- 8.5.1. Asia Pacific: Benzene Market, by Derivative, 2020-2034 (USD Billion)
- 8.5.2. Asia Pacific: Benzene Market, by End-Use, 2020-2034 (USD Billion)
- 8.5.3. Asia Pacific: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.5.4. Benzene Market - China
  - 8.5.4.1. China: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.5.4.2. China: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.5.4.3. China: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.5.5. Benzene Market - India
  - 8.5.5.1. India: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.5.5.2. India: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.5.5.3. India: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.5.6. Benzene Market - Malaysia
  - 8.5.6.1. Malaysia: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.5.6.2. Malaysia: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.5.6.3. Malaysia: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.5.7. Benzene Market - Japan
  - 8.5.7.1. Japan: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.5.7.2. Japan: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.5.7.3. Japan: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.5.8. Benzene Market - Indonesia
  - 8.5.8.1. Indonesia: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.5.8.2. Indonesia: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.5.8.3. Indonesia: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.5.9. Benzene Market - South Korea
  - 8.5.9.1. South Korea: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.5.9.2. South Korea: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.5.9.3. South Korea: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.5.10. Benzene Market - Australia
  - 8.5.10.1. Australia: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.5.10.2. Australia: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.5.10.3. Australia: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.5.11. Benzene Market - Rest of Asia Pacific
  - 8.5.11.1. Rest of Asia Pacific: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.5.11.2. Rest of Asia Pacific: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.5.11.3. Rest of Asia Pacific: Benzene Market, by Application, 2020-2034 (USD Billion)
8.6. Benzene Market - Middle East & Africa
- 8.6.1. Middle East & Africa: Benzene Market, by Derivative, 2020-2034 (USD Billion)
- 8.6.2. Middle East & Africa: Benzene Market, by End-Use, 2020-2034 (USD Billion)
- 8.6.3. Middle East & Africa: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.6.4. Benzene Market - Saudi Arabia
  - 8.6.4.1. Saudi Arabia: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.6.4.2. Saudi Arabia: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.6.4.3. Saudi Arabia: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.6.5. Benzene Market - UAE
  - 8.6.5.1. UAE: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.6.5.2. UAE: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.6.5.3. UAE: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.6.6. Benzene Market - Israel
  - 8.6.6.1. Israel: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.6.6.2. Israel: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.6.6.3. Israel: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.6.7. Benzene Market - South Africa
  - 8.6.7.1. South Africa: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.6.7.2. South Africa: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.6.7.3. South Africa: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.6.8. Benzene Market - Rest of Middle East & Africa
  - 8.6.8.1. Rest of Middle East & Africa: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.6.8.2. Rest of Middle East & Africa: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.6.8.3. Rest of Middle East & Africa: Benzene Market, by Application, 2020-2034 (USD Billion)
8.7. Benzene Market - Latin America
- 8.7.1. Latin America: Benzene Market, by Derivative, 2020-2034 (USD Billion)
- 8.7.2. Latin America: Benzene Market, by End-Use, 2020-2034 (USD Billion)
- 8.7.3. Latin America: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.7.4. Benzene Market - Mexico
  - 8.7.4.1. Mexico: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.7.4.2. Mexico: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.7.4.3. Mexico: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.7.5. Benzene Market - Brazil
  - 8.7.5.1. Brazil: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.7.5.2. Brazil: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.7.5.3. Brazil: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.7.6. Benzene Market - Argentina
  - 8.7.6.1. Argentina: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.7.6.2. Argentina: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.7.6.3. Argentina: Benzene Market, by Application, 2020-2034 (USD Billion)
- 8.7.7. Benzene Market - Rest of Latin America
  - 8.7.7.1. Rest of Latin America: Benzene Market, by Derivative, 2020-2034 (USD Billion)
  - 8.7.7.2. Rest of Latin America: Benzene Market, by End-Use, 2020-2034 (USD Billion)
  - 8.7.7.3. Rest of Latin America: Benzene Market, by Application, 2020-2034 (USD Billion)

9. Competitive Landscape

9.1. Expansion and Acquisition Analysis
- 9.1.1. Expansion
- 9.1.2. Acquisitions
9.2. Partnerships/Collaborations/Agreements/Exhibitions

10. Company Profiles

10.1. BASF
- 10.1.1. Company Overview
- 10.1.2. Financial Performance
- 10.1.3. Product Benchmarking
- 10.1.4. Recent Development
10.2. Hevron Phillips Chemical Company LLC
- 10.2.1. Company Overview
- 10.2.2. Financial Performance
- 10.2.3. Product Benchmarking
- 10.2.4. Recent Development
10.3. China National Petroleum Corporation
- 10.3.1. Company Overview
- 10.3.2. Financial Performance
- 10.3.3. Product Benchmarking
- 10.3.4. Recent Development
10.4. Dow
- 10.4.1. Company Overview
- 10.4.2. Financial Performance
- 10.4.3. Product Benchmarking
- 10.4.4. Recent Development
10.5. DuPont
- 10.5.1. Company Overview
- 10.5.2. Financial Performance
- 10.5.3. Product Benchmarking
- 10.5.4. Recent Development
10.6. ExxonMobil Corporation
- 10.6.1. Company Overview
- 10.6.2. Financial Performance
- 10.6.3. Product Benchmarking
- 10.6.4. Recent Development
10.7. INEOS Group
- 10.7.1. Company Overview
- 10.7.2. Financial Performance
- 10.7.3. Product Benchmarking
- 10.7.4. Recent Development
10.8. LG Chem
- 10.8.1. Company Overview
- 10.8.2. Financial Performance
- 10.8.3. Product Benchmarking
- 10.8.4. Recent Development
10.9. Reliance Industries Limited
- 10.9.1. Company Overview
- 10.9.2. Financial Performance
- 10.9.3. Product Benchmarking
- 10.9.4. Recent Development
10.10. Royal Dutch Shell plc
- 10.10.1. Company Overview
- 10.10.2. Financial Performance
- 10.10.3. Product Benchmarking
- 10.10.4. Recent Development
10.11. SABIC
- 10.11.1. Company Overview
- 10.11.2. Financial Performance
- 10.11.3. Product Benchmarking
- 10.11.4. Recent Development
10.12. Sinopec
- 10.12.1. Company Overview
- 10.12.2. Financial Performance
- 10.12.3. Product Benchmarking
- 10.12.4. Recent Development