Global benzene market is expected to surpass 46MMT by 2020 on account of continuously increasing demand from various industries using benzene derivatives in their manufacturing processes, as per Research and Markets. Shale gas evolution in the US has increased the availability of ethane, which is a light feedstock used for cracking process. The use of lighter feedstock is hampering the yield of benzene and leading to a tight demand/supply scenario in the global market, due to which the market has become highly competitive and all major players are investing in R&D to improve the quality and properties of the product.
The major players operating in global benzene market include ExxonMobil, Shell Chemicals, and Sinopec Corporation, among others. Region-wise, Asia-Pacific is expected to dominate global benzene market through 2020 as majority of benzene derivative manufacturers plan on shifting their production base to developing countries in this region.
Benzene is a basic petrochemical that is obtained as a by-product during production of ethylene and propylene. Steam cracking of naphtha followed by its extractive distillation is a conventional route for producing benzene. Benzene is also produced from hydroalkylation of toluene. Synthetic rubber industry is the largest consumer of benzene, wherein it is processed for producing derivatives such as ethylbenzene, a precursor to styrene, used to manufacture Styrene-Butadiene Resins (SBR), Styrene Butadiene Latex (SB Latex), etc. Ethylbenzene derivatives are majorly used across automotive industry for manufacturing tyres and other components. Hence, growth in automotive industry is the prime driver for benzene market. Cumene, cyclohexane and nitrobenzene are other derivatives of benzene, which are used mainly for the manufacturing of protective coatings, nylon fibers and detergents, respectively
31-Jul-15 
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