The Benzene market, along with its various derivatives, has witnessed a significant growth in the recent years and this growth is estimated to persist in the coming years, as per MarketsandMarkets. The Benzene market, along with its various derivatives, has witnessed a significant growth in the recent years and this growth is estimated to persist in the coming years.
Currently, the Asia-Pacific is the largest consumer of benzene and all of its downstream derivatives, which consumed more than 45% of the total consumption in 2012. Among all the countries, China dominates the benzene market, which consumed the maximum volume of benzene in 2012. The market volume consumption is these products comparatively low in the ROW region, but is expected show the highest CAGR from 2013 to 2018, followed by the Asia-Pacific. Benzene is natural constituent of crude oil, and is one of the most basic petrochemicals, which is derived by various processes like catalytic cracking and reforming. It is highly flammable, has a sweet odor and quickly evaporates into air. It is an important feedstock to manufacture various chemicals like ethylbenzene, cyclohexane, cumene, nitrobenzene, and alkylbenzene that are further used in various industries.
The Asia-Pacific led the benzene market, accounting for more than 45% of the total consumption in 2012 and this demand is projected to grow at a CAGR of about 4.1% from 2013 to 2018. The Asia-Pacific market is witnessed to encompass upcoming production capacities for styrene, aniline, phenol, acetone, caprolactam, and adipic acid, which are directly derived from benzene derivatives. This may increase the demand for various benzene derivatives and ultimately drive the demand for benzene in the future.
06-Nov-14 
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