Market Research Report
Benzene-Petrochemicals Global Market Report 2022
|Benzene-Petrochemicals Global Market Report 2022|
The Business Research Company
Content info: 175 Pages
Delivery time: 2-10 business days
Benzene-Petrochemicals Global Market Report 2022 from The Business Research Company provides the strategists, marketers and senior management with the critical information they need to assess the global benzene-petrochemicals market as it emerges from the COVID-19 shut down.
Where is the largest and fastest growing market for the benzene-petrochemicals? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The Benzene-Petrochemicals market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography. It places the market within the context of the wider benzene-petrochemicals market, and compares it with other markets.
Markets Covered: 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
Companies Mentioned: Ameriya Oil Ref. Co.; Angarsk Petrochemical; Alexandria National Refining and Petrochemicals Company (ANRPC); Arsol Aromatics GmbH & Co. KG ; Atyrau Oil & Gas
Countries: Brazil; China; France; Germany; India; Indonesia; Japan; South Korea; Russia; UK; USA; Australia
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, per capita expenditure.
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Major players in the benzene-petrochemicals market are Ameriya Oil Ref. Co., Angarsk Petrochemical, Alexandria National Refining, and Petrochemicals Company (ANRPC), Arsol Aromatics GmbH & Co. KG, Atyrau Oil & Gas, Azerkhimija, BASF SE, Borealis AG, Bp Plc, and Braskem.
The global benzene-petrochemicals market is expected to grow from $65.57 billion in 2021 to $67.97 billion in 2022 at a compound annual growth rate (CAGR) of 3.7%. The market is expected to grow to $77.56 billion in 2026 at a CAGR of 3.4%.
The benzene-petrochemicals market consists of sales of benzene and related services by entities that produce benzene.
The main manufacturing process of benzene includes pyrolysis steam cracking of naphtha, catalytic reforming of naphtha, toluene hydrodealkylation, toluene disproportionation, and biomass. Toluene disproportionation is referred to as a trans-alkylation reaction that converts toluene into xylene and benzene. The reaction occurs in the presence of hydrogen, along a bed of nickel-mordenite catalyst. The major derivative from which benzene is derived are ethylbenzene, cumene, alkylbenzene, aniline, chlorobenzene, cyclohexane, maleic anhydride, and other derivatives. The various application of benzene includes plastics, resins, synthetic fibers, and rubber lubricants.
Asia Pacific was the largest region in the benzene-petrochemicals market in 2021. Middle East was the second-largest region in the benzene-petrochemicals market. The regions covered in the benzene-petrochemicals report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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%. Usage of plastics like styrene can reduce the weight of vehicles, thereby improving fuel economy. The usage 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.
Stringent safety regulations associated with the manufacturing and transportation of benzene were a major restraint on the market. Benzene is highly inflammable, toxic, and hazardous when exposed to extreme temperatures and pressures. Companies in this market should invest in equipment, technologies, and processes to limit the toxic levels and chemical concentrations as it may harm the environment and population. Humans, when exposed to benzene in the air for a certain amount of time lose their life. In order to provide a safe environment, government agencies limit the amount of benzene that can be released into the environment. For instance, the EPA (Environmental Protection Agency) has set the maximum permissible level of benzene in drinking water at 5 ppb (per billion parts of air). These regulations have increased the operating costs of companies in this industry, thus restricting the growth of the market.
Many companies in the benzene market are focusing on research and developmental activities to discover new technologies and processes for the production of benzene. The technologies developed are expected to help curb environmental issues. For instance, in November 2019, China National Petroleum Corporation (CNPC), a major oil and gas cooperation of China headquartered in Beijing, signed an agreement with KazMunayGas (KMG) and a memorandum with the Ministry of Energy of the Republic of Kazakhstan and KazTransGaz. The agreement between the companies will promote the expansion of the natural gas cooperation. The increase in such technological advances to reduce emissions will gain traction contributing to the growth of the market.
In October 2019, Saudi Basic Industries Corp (SABIC) completed the merger of its wholly-owned affiliates Saudi Petrochemical Company (Sadaf) and Arabian Petrochemical Company (Petrokemya). This deal will transfer Sadaf's assets, rights, liabilities, and obligations to Petrokemya and increase the efficiency of SABIC's operations. Petrokemya is a Saudi Arabian company that produces feedstock chemicals including propylene, ethylene, butene, benzene, and butadiene.
The countries covered in the benzene-petrochemicals market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia.