Asian and Pacific Benzene Market Forecast 2018-2023

 
 
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benzene market in Asia

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SOFIA, Bulgaria - July 11, 2019 - PRLog -- According to a recently published report about the Asian and Pacific benzene market, it was equal to 3.086 million tons in 2013. The largest country market within the region was Singapore, which in 2013 accounted for a share of 43% of the total in volume terms. Until 2023, the Asian and Pacific market is forecast to reach around 4.3 million tons, thus growing at a CAGR of about 4.2% per annum in the period 2018-2023. This is a slight increase, compared to the growth at a CAGR of around 2.0% per year, registered in 2013-2017.

The analytical research projects that the Asian and Pacific production of benzene is likely to grow to around 6.8 million tons in the medium term. Upward dynamics of the overall installed production capacities in the region are also expected. Their annual average utilization rates, on the other hand, are expected to stay at similar levels. In addition, the market is forecast to remain relatively unbalanced in terms of supply and demand, also showing moderately upwards dynamics in the medium term.

One of the leading trends is linked with the value chains increasingly move eastward, due to the economic growth and market opportunities in Asia. Due to the increased general consumption in Asia, the global demand for benzene and aromatics was mainly supported by markets such as China, which is a key driver for export material from rest of the world.

Another trend is connected with the fact that benzene is a petrochemical used as a fuel additive. Because of its high volatility, benzene acts as a good octane booster, which maintains the energy content of gasoline and is widely used in gasoline blends. In recent years, however, there has been a decrease in the demand for fossil fuels, especially in the developed countries.

As an overall, the report presents a strategic analysis of the benzene market in Asia and Pacific and a forecast for its development in the medium term. It provides a comprehensive overview of the market, its dynamics, structure, characteristics, main players, production capacities, trends, prices, production, imports, exports, growth and demand drivers, and all other important factors, influencing its development. The report focuses on both product and country breakdown, offering a larger perspective on the regional market dynamics as well as information on each individual country within the region.

The research report has been prepared using the unique Williams and Marshall Strategy's methodology, including a blend of qualitative and quantitative data. The information comes from official sources and insights from market experts (representatives of the main market participants), gathered by semi-structured interviews. This report will allow its readers to quickly and cost–effectively get a strategic analysis and gain competitive intelligence about the market and to track market data, including size, value, segmentation, forecasts, dynamics and structure – past, present and future. In addition, the readers will be able to strategically assess the competitive position of the main market players, explore and identify new market opportunities in the countries within the region, recognize key market trends, opportunities and threats and key drivers behind recent market changes as well as strategically evaluate market growth potential.

The report includes information on the following companies:

•        Bharat Petroleum Corporation;

•        Haldia Petrochemical;

•        HPCL Rajasthan Refinery;

•        HPCL/Mittal Energy;

•        Indian Oil Corporation;

•        ONGC Mangalore Petrochemicals;

•        ONGC Petro-Additions (Opal);

•        Reliance Industries;

•        Steel Authority Of India;

•        Pertamina;

•        PT Chandra Asri Petrochemical;

•        Trans-Pacific Petrochemicals Indotama;

•        Lotte Chemical Titan;

•        Petronas Chemicals Aromatics;

•        Petronas Rapid;

•        Byco Petroleum Pakistan;

•        Jg Summit Petrochemical;

•        Petron Corporation;

•        Exxonmobil Chemical;

•        Jurong Aromatics;

•        Petrochemical Corporation Singapore;

•        Shell Eastern Petrochemicals;

•        Esso Thailand;

•        IRPC;

•        Map Ta Phut Olefins;

•        PTT Global Chemical;

•        Rayong Olefins;

•        Thai Paraxylene Company;

•        Long Son Petrochemical;

•        NGHI Son Refinery And Petrochemicals.

You can find more information about this report here: https://www.wm-strategy.com/catalog/product/view/id/125888/s/asia-and-pacific-benzene-market/. This report can be customized, based on the particular data and insight needs and requirements of each client. For this and other similar product groups, single-country, regional and global reports can be provided for all global countries and regions. Williams and Marshall Strategy also offers Custom Research Services, providing focused and comprehensive solutions, tailor-made to fit the requirements of each individual client. Feel free to visit our online store and contact us for more information at: http://www.wm-strategy.com.
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