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Benzene Market Overview:Benzene is a flammable and colourless liquid that is expected to witness rising applications across different industry verticals in the years to come. Market Research Future, in its latest report, has revealed that the global benzene market is expected to mark a moderate CAGR across the projection period 2018 to 2023.
Rising consumption of petrochemical products is projected to influence the expansion of the benzene market positively in the years to come. In addition, proliferating applications across industries such as construction, paints & coatings, oil & gas, etc. is prognosticated to catalyse revenue generation for the market players. However, the implementation of stricter environmental regulations remains an impediment to market growth.
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Benzene Market Key Players:
• 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)
are the important participants of the global benzene market expected to contribute substantially to the revenue growth over the next couple of years. Some of the strategies expected to be implemented by these players in the forthcoming years are mergers & acquisitions, product development, collaborations, facility expansion, partnerships, etc.
Benzene 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.
Benzene Market 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.
Benzene Market Table of Content to be Continue….,
Complete table of content is available at @ https://www.marketresearchfuture.com/reports/benzene-market-928
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Contact Info:
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Organization: Market Research Future
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Website: https://www.marketresearchfuture.com/reports/benzene-market-928
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