Get the latest insights on price movement and trend analysis of Benzene in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Why did the Benzene Price Change in July 2025? U.S. Benzene Spot Prices were relatively flat during Q2 2025, buoyed by consistent local production and muted downstream demand. The Price Index fluctuated around multi-week means as a result of balanced market fundamentals.

After reaching a low of *** U.S. dollars per metric ton in 2020, the global price of benzene increased rapidly over the following two years, before again declining to an average of *** U.S. dollars per metric ton in 2022. Uses of benzene Benzene is one of the most common products in the petrochemical industry, accounting for roughly ** percent of primary petrochemical consumption worldwide. The compound is the simplest aromatic hydrocarbon and it is used widely for the manufacture of organic chemicals with more complex structures. For instance, most of the benzene produced is transformed to ethylbenzene, which is then converted to styrene, and finally, polystyrene. Other important applications include the production of phenol and acetone. Global benzene market The global market volume of benzene amounted to nearly ***** million metric tons in 2022 and it is expected to reach over ** million metric tons by 2023. Regarding the market value of the petrochemical compound, it stood at over ***** billion U.S. dollars in 2022 and is forecast to rise considerably to some ****** billion U.S. dollars. In 2021, South Korea, India, and Thailand were the largest exporters of benzene worldwide.

Track Benzene Industrial Grade prices (USD/MT) YoY, EX-Works China, with 2025 forecasts amid crude oil volatility and petrochemical demand shifts.

Get the latest insights on price movement and trend analysis of Linear Alkyl Benzene (LAB) in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

Global Benzene Market achieved a total market volume of 50.56 Million Metric Tonnes in 2024 and is expected to reach 65.47 Million Metric Tonnes by 2030 with a CAGR of 4.60%.

Get the latest insights on price movement and trend analysis of Heavy Alkyl Benzene (HAB) in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

In 2024, after four years of growth, there was significant decline in the North American benzene market, when its value decreased by -12.1% to $14.5B. The market value increased at an average annual rate of +2.0% over the period from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, consumption attained the peak level of $16.5B, and then fell in the following year.

In 2024, the global benzene market increased by 4.7% to $72.8B, rising for the fourth consecutive year after two years of decline. The market value increased at an average annual rate of +1.4% from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. Over the period under review, the global market reached the maximum level in 2024 and is likely to see gradual growth in the near future.

Why did the Nitro Benzene Price Change in July 2025? The Nitrobenzene Price Index in the U.S. remained stable through Q2 2025, despite a 9 day weather-related slowdown at BASF’s Louisiana facility. Gulf Coast production operated normally otherwise, ensuring balanced regional supply.

Get the latest insights on price movement and trend analysis of Aminobenzene in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East Africa).

The MENA's benzene market dropped slightly to $7.4B in 2024, declining by -3.2% against the previous year. Overall, consumption, however, recorded a relatively flat trend pattern. Over the period under review, the market hit record highs at $8B in 2021; however, from 2022 to 2024, consumption failed to regain momentum.

For the fifth consecutive year, the African benzene market recorded growth in sales value, which increased by 11% to $6.6B in 2024. The market value increased at an average annual rate of +2.8% over the period from 2012 to 2024; the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The level of consumption peaked in 2024 and is likely to see gradual growth in years to come.

The Benzene Market Share size and share are expected to exceed USD 90.70 billion by 2034, with a compound annual growth rate (CAGR) of 6.4% during the forecast period.

Why did the Nitro Chloro benzene Price Change in July 2025? The Nitro Chloro Benzene (NCB) Price Index in the U.S. held steady during Q2 2025, as stable benzene feedstock trends (flat spot levels and uninterrupted refinery reformate output) kept production costs manageable.

In 2024, the Benelux benzene market was finally on the rise to reach $1.7B after two years of decline. Over the period under review, consumption, however, showed a pronounced decrease. As a result, consumption reached the peak level of $2.7B. From 2022 to 2024, the growth of the market remained at a somewhat lower figure.

Snapshot img

Benzene Market Size 2024-2028

The benzene market size is forecast to increase by USD 7.01 billion, at a CAGR of 3.77% between 2023 and 2028.

The market is experiencing significant growth, driven primarily by the increasing demand in developing economies. This trend is particularly notable in sectors such as plastics and chemicals, where benzene is a key raw material. The pharmaceutical industry is another major contributor to the market's expansion, with rising spending on research and development leading to increased demand for benzene. However, the market's landscape is not without challenges. Price fluctuations in Crude Oil, a primary source of benzene, pose a significant threat to market stability. These volatilities can impact the cost of production and, in turn, the price of benzene.
As such, companies in the market must navigate this challenge effectively to maintain profitability and competitiveness. Additionally, regulatory pressures and environmental concerns surrounding the production and use of benzene may present further challenges. To capitalize on the market's opportunities and mitigate these challenges, companies must focus on innovation, operational efficiency, and strategic partnerships. By staying abreast of market trends and adapting to changing market conditions, they can effectively position themselves for long-term success.

What will be the Size of the Benzene Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
Request Free Sample

The market continues to evolve, shaped by dynamic market dynamics and diverse applications across various sectors. This organic compound, a crucial building block in organic chemistry, is integral to the production of aromatic hydrocarbons, synthetic rubber, Dyes And Pigments, consumer goods, industrial chemicals, specialty chemicals, and bio-based benzene. Environmental regulations, driven by benzene toxicity concerns, dictate stringent safety measures and exposure limits. These regulations influence the market, driving innovation in catalyst development, process optimization, and waste management. Benzene pricing remains a critical factor, with market volatility impacting the profitability of end-use industries. Joint ventures and strategic alliances are common in the benzene industry, with companies collaborating to enhance production capacity and improve efficiency.

New plant construction and crude oil refining continue to shape the market landscape, while market segmentation caters to the unique needs of different industries. Benzene's applications extend to the petrochemical industry, where it serves as a vital intermediate in the production of aromatic hydrocarbons. The ongoing development of green chemistry and alternative solvents presents opportunities for sustainable production. The future outlook for the market is promising, with growth driven by increasing demand for end-use industries and advancements in technology.

How is this Benzene Industry segmented?

The benzene industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Method

  Catalytic reforming
  Steam cracking
  Others


Derivative Type

  Styrene
  Cumene
  Cyclohexane
  Aniline
  Others


Geography

  North America

    US


  Europe

    Germany


  APAC

    China
    Japan
    South Korea


  Rest of World (ROW)

By Method Insights

The catalytic reforming segment is estimated to witness significant growth during the forecast period.

Benzene is a vital aromatic hydrocarbon used extensively in organic chemistry for the production of various derivatives and intermediates. The end-use industries, including synthetic rubber, dyes and pigments, consumer goods, industrial chemicals, and specialty chemicals, significantly contribute to benzene demand. Benzene storage and transportation require stringent safety measures due to its toxicity and flammability. Benzene derivatives, such as styrene and toluene, are produced through chemical synthesis, with benzene serving as a primary raw material. Market volatility is a constant factor due to fluctuations in crude oil prices and supply-demand dynamics. New plant construction and process optimization are ongoing trends in the industry to increase production capacity and improve efficiency.

Benzene recovery from various sources, including refinery processes and waste streams, is a focus area for sustainability and cost reduction. Environmental regulations and waste management practices are essential considerations for benzene production and handling. Occupational exposure to benzene necessitates stringent safety measures and adherence to exposure limits. T

Why did the Linear Alkyl Benzene (LAB) Price Change in July 2025? The Linear Alkyl Benzene (LAB) Price in the U.S. increased by 2% quarter-over-quarter in Q2 2025, contributing to a rise in the Price Index.

After two years of decline, the Europe benzene market increased by 4% to $12B in 2024. Over the period under review, consumption saw a slight shrinkage. The level of consumption peaked at $14B in 2012; however, from 2013 to 2024, consumption remained at a lower figure.

Check out Market Research Intellect's Crude Benzene Market Report, valued at USD 35.8 billion in 2024, with a projected growth to USD 49.2 billion by 2033 at a CAGR of 4.1% (2026-2033).