Benzene Market size worth $ 37.2 Billion, Globally, by 2030 at 5.60% CAGR: Verified Market Research® - bdsthanhhoavn.com

Benzene Market size worth $ 37.2 Billion, Globally, by 2030 at 5.60% CAGR: Verified Market Research®

The Benzene Market is likely to be driven by factors such as rising oil and gas exploration activities, rising building expenditure, high demand for polyester fiber, increasing domestic cleaning product use, and fast urbanization.

JERSEY CITY, N.J., June 9, 2022 /PRNewswire/ — Verified Market Research recently published a report, “Benzene Market” By Derivative (Ethyl Benzene, Aniline, Phenol), and By Geography. According to Verified Market Research, the Benzene Market size was valued at USD 24.1 Billion in 2021 and is projected to reach USD 37.2 Billion by 2030, growing at a CAGR of 5.60% from 2022 to 2030.

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Browse in-depth TOC on “Benzene Market”

202 – Pages
126 – Tables
37 – Figures

Global Benzene Market Overview

The rise in disposable income acts as a primary growth driver in the Global Benzene Market. Benzene is an aromatic hydrocarbon that is combustible. Benzene is very flammable and readily dissipates into the atmosphere. Volcanoes and forest fires, for example, naturally contaminate the air with benzene. Paints, furniture wax, glues, and detergents are all common sources of benzene in an interior environment. It is primarily utilized in the production of polystyrene as well as the preparation of phenol and aniline. Plastics, gasoline, synthetic rubbers, industrial solvents, and colors all contain benzene.

Benzene is extremely poisonous and carcinogenic. The market is likely to be driven by factors such as rising oil and gas exploration activities, rising building expenditure, high demand for polyester fiber, increasing domestic cleaning product use, and fast urbanization. However, the industry’s expansion would be hampered by strict environmental laws and raw material price instability. On the major restrain of this market is that individuals can be harmed by benzene exposure in a variety of ways.

Key Developments

  • In January 2022, Royal Dutch Shell Plc announced that they changed their name from Royal Dutch Shell plc to Shell plc.

  • In March 2018, Total S.A had announced that they Completes the Acquisition of Maersk Oil.

Key Players

The major players in the market are China Petroleum & Chemical Corporation, SABIC, Royal Dutch Shell Plc, Exxon Mobil Corporation, Dow, Total S.A, Saudi Basic Industries Corporation, BP Plc, BASF SE, JX Holdings Inc, and others.

Verified Market Research has segmented the Global Benzene Market On the basis of Derivative, and Geography.

  • Benzene Market, By Derivative

  • Benzene Market, by Geography

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