The “Global Benzene Market: Plant Capacity, Production, Operating Efficiency, Demand & Supply, Technology, Competition, Trade, Customer & Price Intelligence Market Analysis, 2030” report has been added to ResearchAndMarkets.com's offering. Benzene demand is anticipated to grow at a healthy CAGR of 2.9% during the forecast period. Growing consumption of benzene derivatives in the automotive industry for manufacturing synthetic rubber has increased benzene demand in the global market and demand is anticipated to increase further due to robust growth in the automotive market. A growing demand for rubber processing chemicals, nylon reins and synthetic fibres is also driving the downstream market for benzene derivatives. Ethylbenzene which is one of the derivatives of benzene, finds application in producing styrene and growing demand of styrene-based polymers such as polystyrene, styrene-acrylonitrile reins, acrylonitrile butadiene styrene rubber in the disposable medical devices and consumer electronics is also boosting the benzene market globally. Amongst the five regions (Asia-Pacific, Europe, North America, Middle East & Africa and South America), Asia Pacific region holds the largest volume share of the global benzene market. Recently, working from home imposed by the government due to COVID-19 could affect gasoline demand. Moreover, working from home is contributing to greater usage of home food delivery, online shopping, electronic devices and electrical appliances which will contribute towards the demand of benzene during the forecast period.
Original Source: Research and Markets, 2020. Found on GlobeNewswire, 18 MAY 2020 (Website: http://www.globenewswire.com).