benzene industry 2022 Industry Market is Booming Worldwide | Borealis AG (Austria), BP plc (UK), Exxon Mobil Corporation (US), Borealis AG (Austria)

 

Benzene Market is expected to reach over USD 80 billion by the year 2030 while registering a healthy CAGR of over 3.65% during the forecast 2030.

The rising consumption of petrochemical products is projected to influence the expansion of the benzene industry positively in the years to come. In addition, proliferating applications across industries such as construction, paints & coatings, oil & gas, etc. are prognosticated to catalyze revenue generation for the market players. However, the implementation of stricter environmental regulations remains an impediment to market growth.

Competitive Dashboard:

  • BASF SE (Germany)
  • The Dow Chemical Company (U.S.)
  • Borealis AG (Austria)
  • Arsol Aromatics GmbH & Co. KG (Germany)
  • Royal Dutch Shell plc (the Netherlands)
  • Exxon Mobil Corporation (U.S.)
  • China Petroleum & Chemical Corporation (China)
  • BP p.l.c. (UK)
  • SABIC (Saudi Arabia)
  • Repsol (Spain)

Get a sample copy of the report at: https://www.marketresearchfuture.com/sample_request/928

Market Segmentation:

The segmental analysis of the global benzene market is conducted based on the derivative type. The segments of the market include cumene, alkyl benzene, cyclohexane, nitrobenzene, ethylbenzene, and others

Regional Analysis:

The geographical evaluation of the global benzene market encompasses Asia Pacific, the Middle East & Africa (MEA), Europe, Latin America, and North America. Asia Pacific is set to strike the highest CAGR over the forecast period. The benzene market in the region is likely to benefit from the expansion of the oil & gas industry in the region. In addition, the growth of the end-user industries is also anticipated to propel market expansion in the region over the next couple of years. Lastly, the increasing disposable income and rising middle-income population owing to rapid economic developments are poised to encourage the growth of the regional benzene market over the next few years.

The Middle East & Africa is also projected to exhibit substantial growth in the foreseeable future due to rising applications in the oil & gas industry. The oil industry is flourishing in the region, and it is poised to boost the growth of the regional market over the next few years. Iraq, Saudi Arabia, Iran, the United Arab Emirates, and Kuwait are the crucial sub-market of the region expected to develop considerably across the review period.

North America is prognosticated to register moderate growth over the next couple of years. The region is assessed to observe rising consumption of petrochemical products, which is poised to lead the growth of the market in the region across the assessment period. The U.S., followed by Canada, is expected to emerge as the major contributor to the development of the benzene market in the region in the years to come. In addition, rising demand for benzene from the food packaging and paints & coatings industries are expected to influence the growth of the regional market greatly.

Enquire for Discount: https://www.marketresearchfuture.com/check-discount/928

Europe benzene market is expected to witness an upsurge in demand across countries such as Italy, Spain, the UK, Germany, France, and Russia. In addition, the product is also likely to find application across the developed automotive industry. This, in turn, is forecasted to lead to market growth over the next few years. Increasing purchasing power of the masses is also projected to have a positive influence on the proliferation of the benzene market in the region.

Speak to Analyst: https://www.marketresearchfuture.com/ask_for_schedule_call/928

About Market Research Future:

Market Research Future (MRFR) is a global market research company that takes pride in its services, offering a complete and accurate analysis with regard to diverse markets and consumers worldwide. Market Research Future has the distinguished objective of providing optimal quality research and granular research to clients. Our market research studies by products, services, technologies, applications, end-users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help answer your most important questions.

Market Research Future®

99 Hudson Street,5Th Floor

New York, New York 10013

United States of America

Phone:

+1 628 258 0071(US)

+44 2035 002 764(UK)

Email: sales@marketresearchfuture.com

Comments

Post a Comment

Popular posts from this blog

Regulatory Hurdles and Spectrum Access in the Private 5G Market

The private 5G market represents a burgeoning segment within the broader telecommunications industry, focusing on the deployment of 5G networks for private use by enterprises, industries, and organizations. Unlike public 5G networks, which are available to the general public, private 5G networks offer dedicated bandwidth and infrastructure tailored to the specific needs of an organization, providing enhanced security, reliability, and performance. Global private 5G market is expected to be valued at USD 2.0 billion in 2023 and is projected to reach USD 11.8 billion by 2028 ; it is expected to grow at a CAGR of 42.3% from 2023 to 2028 Market Overview The private 5G market is witnessing rapid growth driven by the increasing demand for high-speed, low-latency connectivity that can support advanced applications and the Industrial Internet of Things (Biot). These networks are becoming essential for industries such as manufacturing, logistics, healthcare, and energy, where the need for reli...
Read more

Submarine Cable System Market to grow from USD 18.2 billion in 2024

 Submarine Cable System Market to grow from USD 18.2 billion in 2024 and is expected to reach USD 29.7 billion by 2029, growing at a CAGR of 10.3% from 2024 to 2029. The submarine cable systems market , encompassing a critical infrastructure for global communications and data transfer, has seen significant growth and transformation. As of 2023, this market is valued at several billion dollars, driven by increasing data traffic, the proliferation of cloud services, and the ongoing expansion of internet connectivity worldwide. Market Overview Submarine cable systems are underwater cables laid on the seabed between land-based stations to carry telecommunication signals across stretches of ocean and sea. These cables are pivotal in connecting continents and facilitating international communication, accounting for nearly 99% of global data traffic. Key Drivers Data Traffic Surge : The exponential growth in data consumption, fueled by streaming services, social media, and cloud computing...
Read more

Revolutionizing Industry: The Future of Industrial Control and Factory Automation

The Industrial Control and Factory Automation market is a dynamic and rapidly evolving sector that plays a crucial role in modern manufacturing and production processes. This market encompasses a wide array of technologies, systems, and components designed to enhance industrial operations' efficiency, safety, and reliability. The primary components of this market include control systems, such as Distributed Control Systems (DCS), Programmable Logic Controllers (PLC), Supervisory Control and Data Acquisition (SCADA) systems, Human-Machine Interfaces (HMI), and industrial robots. Additionally, the integration of advanced technologies like the Internet of Things (IoT), Artificial Intelligence (AI), and cloud computing is significantly transforming the landscape. Market Drivers Technological Advancements: The rapid advancement in AI, IoT, and machine learning is driving the adoption of automation solutions. These technologies enable predictive maintenance, real-time monitoring, and ad...
Read more