Benzene Market
Regions Covered
USA
SEA
Europe
Regions Covered
USA
SEA
Europe
The global benzene market is expected to grow at a CAGR of 4–5 percent during 2017–2022. The impetus for this growth comes from demand in Asia, which is expected to grow at 6–7 percent, due to increased automobile and construction activities, demand from derivatives, styrene, and cumene segments and one of the key growth contributors for the global benzene market is the increase in demand from the polyester industry, where styrene monomer is used for manufacturing textiles. Feedstock change in the western markets to yield less benzene, lesser yield from lighter feedstock will continue to reduce the output of aromatics in the US and the EU, thus making the regions increasingly import dependent. This demand from the western markets will be met by surplus capacity additions, planned in the Middle East and Asia through 2022.
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