What is Benzene??
Benzene is an organic chemical compound with the molecular formula C₆H₆. The benzene molecule is composed of six carbon atoms joined in a ring with one hydrogen atom attached to each. As it contains only carbon and hydrogen atoms, benzene is classed as a hydrocarbon.
What is Benzene Used for?
Benzene is basically used in making Plastics, pesticides, drugs, dyes, lubricants and more.
Benzene Market Overview:
The increasing demand for methylene diphenyl diisocyanate (MDI) for the production of polyurethane foams is a key factor expected to foster the growth of the market during the forecast period, says Fortune Business Insights in a report, titled “Benzene Market Size, Share & Industry Analysis, By Derivatives (Alkyl benzene, Chloro benzene, Cumene, Toluene, Ethyl benzene, Cyclo hexane, Nitro benzene, Phenol, Styrene, Others) and Regional Forecast, 2019-2026” the extensive use of ethylbenzene as an anti-knocking agent in fuels is expected to contribute positively to the market.
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list of prominent companies that are operating in the global benzene market are:
- Royal Dutch Shell Plc.
- China National Petroleum Corporation
- Saudi Basic Industries Corporation
- ExxonMobil Corporation
- JX Holdings, Total
- GS Caltex
- Haldia Petrochemicals
- Reliance Industries Limited
- IndianOil Corporation Limited
- Bhartia Petroleum Corporation limited
- and others.
Benzene is a natural constituent of crude oil and is one of the elementary petrochemicals. Due to the cyclic continuous pi bond between the carbon atoms, benzene is classed as an aromatic hydrocarbon, the second [n]-annulene (-annulene).
It is sometimes abbreviated PhH. Benzene is a colorless and highly flammable liquid with a sweet smell, and is responsible for the aroma around petrol (gasoline) stations. It is used primarily as a precursor to the manufacture of chemicals with more complex structure, such as ethylbenzene and cumene, of which billions of kilograms are produced annually. As benzene has a high octane number, aromatic derivatives like toluene and xylene typically comprise up to 25% of gasoline (petrol).
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Benzene itself has been limited to less than 1% in gasoline because it is a known human carcinogen. Most non-industrial applications have been limited as well for the same reason.
Styrene is used in the production of various products, such as polystyrene, styrene-acrylonitrile (SAN) resins, acrylonitrilie-butadiene-styrene (ABS), styrene-butadiene elastomers. Styrene polymers are used in multiple products, such as televisions, disposable medical products and consumer electronics.
According to the report, Benzene is primarily used in petrochemical industries to synthesize its derivatives, which have several applications in polymers, chemicals, agricultural, and others. The market is segmented into alkyl benzene, chloro benzene, cyclohexane, nitrobenzene, phenol, styrene, ethyl benzene, cumene, and others. Ethyl benzene is expected to account for maximum share in the market. ethyl benzene is one of the significant benzene derivatives, which is a feedstock for styrene.
The report offers illuminating insights into all the growing trends of the benzene market.
It shares a comprehensive study of all the segments and regions. It provides statistical data on all the recent developments in the market. It is created after extensive research followed by all-encompassing analysis to benefit companies, stakeholders, financers and potential investors. It is designed with an aim to provide a clear picture of the market size. Moreover, it also includes product launches, acquisitions, collaborations & partnerships, and innovations and industry developments.