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The Europe benzene market attained a volume of 8.32 MMT in 2023. The market is projected to grow at a CAGR of 1.4% in the forecast period of 2024-2032 to reach a volume of 9.40 MMT by 2032. Germany is one of the leading consumer nations in Europe, with one of the highest demands for benzene.
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The benzene market in Europe is majorly being driven by the rising demand from segments like derivatives, styrene and cumene. The increasing demand from the polyester industry, where styrene is widely used for the manufacturing of textiles, is also boosting the demand for benzene.
Styrene is one of the major derivatives segments globally, along with cumene. Styrene accounts for a significant proportion of the global benzene demand. Cumene is also a major derivative of benzene, driving the significant demand for benzene, especially in the European Union. Further, the European Union is expected to expand its capacity in the industry, specifically in the caprolactam and phenolic resin segment.
Benzene is mainly used as a feedstock or raw material for the manufacture of many other industrial chemicals like ethylbenzene, cumene, as well as cyclohexane. Benzene is also used as a solvent for the chemical and pharmaceutical industries.
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The derivatives of the product can be divided into the following:
Benzene finds its applications in the following segments:
The regional markets for benzene in Europe are Germany, the United Kingdom, France, and Italy, among others.
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The demand for benzene is being driven by the rising application of cumene in the manufacturing process of phenol and acetone. The market for these two compounds is significantly growing and, thus, aiding the demand growth of cumene. The expansion of capacity in the European Union is also expected to boost the growth of the benzene market in Europe.
The demand for benzene is significantly being aided by the rising demand from the styrene industry, which is witnessing a thriving demand from various end-use sectors. Styrene is used in the production of various products like polystyrene, styrene-butadiene elastomers, latexes, acrylonitrile-butadiene-styrene (ABS), styrene-acrylonitrile (SAN) resins, and unsaturated polyester resins. Styrene polymers find wide uses in the end use industries like textile, construction, packaging, electronics, medical products, and IT equipment, among others.
Other major factor contributing to the growing demand for benzene is the rising demand for ethylbenzene, which is widely used as a solvent in fuels and as a chemical intermediate. Benzene also has its applications in the CPG industry for packaging purposes. It is widely used in the personal and home care application as a solvent. The rising demand from the paints and coating industry is also providing an impetus to the market growth.
The report gives a detailed analysis of the following key players in the Europe benzene market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Derivative |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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In 2023, the Europe benzene market reached a volume of nearly 8.32 MMT.
The market is projected to grow at a CAGR of 1.4% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period of 2024-2032 to reach 9.40 MMT by 2032.
The major drivers of the market are the rising demand for benzene in segments like derivatives, styrene, and cumene, the robust growth of the pharmaceutical sector, and the expanding capacity of the caprolactam and phenolic resin segments in the region.
The rising applications of cumene in the manufacturing process of phenol and acetone, the surging demand for benzene in the styrene sector, and the growing usage of ethylbenzene as a solvent in fuels and as a chemical intermediate are the key trends propelling the market growth.
The major countries of benzene in Europe are Germany, France, the United Kingdom, and Italy, among others.
The major derivatives of benzene considered in the market report are ethylbenzene, cumene, alkylbenzene, aniline, chlorobenzene, cyclohexane, and maleic anhydride, among others.
The various applications of benzene include solvent, chemical intermediates, surfactants, plastics, rubber manufacturing, detergent, explosives, lubricants, and pesticides, among others.
The key players in the market are Dow Chemical Company, INEOS Group Holding S.A., LyondellBasell Industries Holdings B.V., BASF SE, and Royal Dutch Shell Plc, among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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