After reaching a low of 498 U.S. dollars per metric ton in 2020, the global price of benzene increased rapidly over the following two years, before again declinging to an average of 901 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 10 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 60.28 million metric tons in 2022 and it is expected to reach over 76 million metric tons by 2023. Regarding the market value of the petrochemical compound, it stood at over 93.85 billion U.S. dollars in 2022 and is forecast to rise considerably to some 121.67 billion U.S. dollars. In 2021, South Korea, India, and Thailand were the largest exporters of benzene worldwide.

During Q1 2025, benzene prices in North America experienced a mix of volatility and downward pressure, shaped by fluctuating crude oil and naphtha prices, soft demand in key sectors, and broader economic uncertainties. January began with relative stability as production resumed post-holiday, with prices briefly rising to USD 918/MT FOB Louisiana amid improved operational activity. However, weak downstream demand from polymers, aromatics, and solvents, alongside cost-sensitive market sentiment, limited any sustained gains.

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).

In Q4 2024, benzene prices in the U.S. followed a downward trend, influenced by broader market uncertainties and weak demand from key sectors such as styrene monomer, phenol, and cumene. The weak local demand from major benzene consumers exacerbated the pricing pressure, while fluctuations in naphtha prices, a critical feedstock for benzene production, further impacted its pricing.

The linear alkyl benzene prices in the United States for Q2 2024 reached 2320 USD/MT in June. The region showed consistent price growth fueled by strong seasonal demand from detergent industries and rising crude oil prices. Moreover, supply chain issues, including increased freight rates and logistical disruptions, added pressure, contributing to the overall bullish trend throughout the quarter and sustaining higher pricing levels.

Explore the factors influencing benzene prices, including crude oil fluctuations, industry demand, supply disruptions, regulatory changes, and exchange rates.

In 2024, the highest price was recorded in April, reaching 1,058 U.S. dollars per metric ton, while the lowest price occurred in August and September, standing at 960 U.S. dollars per metric ton. Comparing these figures to the same months in previous years, we observe a general increase in prices over time. However, there were notable exceptions, such as November 2023, where the price dropped to 890 U.S. dollars per metric ton, lower than the corresponding month in the previous year. Overall, the data indicates both upward and downward price movements, reflecting the dynamic nature of the benzene market during this period.

Explore the multifaceted factors influencing benzene prices, including crude oil fluctuations, supply-demand dynamics, geopolitical events, and environmental regulations, and their impact on the chemical industry's economic trends.

Nitrobenzene prices in the U.S. trended downward throughout Q1 2025, reflecting a continued imbalance between weak demand and steady production. The market faced persistent pressure as sluggish consumption from downstream sectors like aniline, dyes, and rubber chemicals coincided with inflation-driven feedstock volatility and broader macroeconomic uncertainty. Production in the U.S. remained stable, but rising energy costs, freight disruptions, and labor-related cost inflation added strain to producer margins.

The average benzene import price stood at $1,099 per ton in February 2025, picking up by 7.3% against the previous month.

The global benzene market size reached USD 66.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 87.1 Billion by 2033, exhibiting a growth rate (CAGR) of 3.1% during 2025-2033. The implementation of stringent environmental and health regulations, the escalating investment in research and development across the globe, and the increasing demand for increased agricultural production are among the key factors driving the market growth.

IMARC Group provides an analysis of the key trends in each segment of the global benzene market, along with forecasts at the global, regional and country levels from 2025-2033. Our report has categorized the market based on derivative, manufacturing process and application.

In Q4 2024, the U.S. nitrobenzene market experienced fluctuations driven by weak demand from key downstream sectors, feedstock price volatility, and broader economic uncertainties. Early stability in production costs provided some support, but sluggish activity in derivatives like MDI constrained market recovery. Declining crude oil and naphtha prices further impacted the value chain, while the upcoming U.S. presidential election heightened concerns about potential market oversupply, adding to uncertainty.

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 Q1 2025, the North American Linear Alkyl Benzene (LAB) market showed a fluctuating performance, initially declining in January before posting moderate gains through February and March. The early-quarter downturn was driven by seasonally weak demand from key segments like detergents and cleaning products, compounded by colder weather and ample inventories. Although feedstock costs rose particularly for benzene, producers struggled to pass on these increases due to sluggish downstream consumption, pushing prices downward early in the quarter.

In November 2022, the price of benzene amounted to $570 per ton (on a FOB basis in the United Kingdom), this was a decrease of 8% compared to the previous month.

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).

Nitro Chloro Benzene prices in North America declined steadily across Q1 2025, driven by weak demand fundamentals and stable domestic production. Despite moderate feedstock benzene volatility—amplified by geopolitical tensions and looming tariff risks on imports from Canada, Mexico, and China—prices saw downward momentum. Producers faced margin pressure as rising labor and energy costs coincided with sluggish consumption in downstream sectors such as aniline, dyes, and rubber chemicals.

In 2019, the growth rate of premium benzene price in Saudi Arabia amounted to 141.7 percent. The strategic objective is to have common policies and attitudes among the Gulf Cooperation Council countries towards the petroleum issues, which reflects their interests and their common identity.

The global crude benzene market is experiencing robust growth, driven by increasing demand from key downstream applications. While precise market size figures for 2025 are not provided, considering a hypothetical CAGR of 5% (a reasonable estimate for a mature petrochemical market) and a hypothetical 2019 market size of $50 billion, the market size in 2025 could be estimated at approximately $64 billion. This signifies a substantial expansion over the historical period (2019-2024). The growth is fueled primarily by the expansion of the building and construction, automotive, and electrical and electronics sectors, which rely heavily on benzene derivatives like ethylbenzene, cumene, and cyclohexane. Further growth is anticipated due to increasing investments in infrastructure projects worldwide, especially in developing economies. However, stringent environmental regulations concerning benzene emissions and fluctuations in crude oil prices pose significant challenges to market expansion. Growth is further segmented across various applications and geographic regions, with North America, Asia-Pacific, and Europe being major contributors. The competitive landscape involves both large integrated petrochemical companies like Sinopec, ExxonMobil, and BASF, and smaller specialized producers, leading to intense competition and the need for constant innovation and operational efficiency. The segmentation within the market highlights the significance of various benzene derivatives. Ethylbenzene is prominent due to its use in styrene production, a key raw material for polystyrene plastics. Cumene, a crucial feedstock for phenol and acetone, also plays a vital role. The geographic distribution of market share likely reflects the concentration of downstream industries and refining capacity. The forecast period (2025-2033) anticipates continued growth, albeit potentially at a slightly moderated CAGR (e.g., 4-4.5%) as the market matures and regulatory pressures intensify. This projection considers the interplay between demand drivers and the constraints imposed by environmental considerations and oil price volatility.

In 2024, after three years of growth, there was significant decline in the Ethiopian benzene market, when its value decreased by -5.2% to $386. Over the period under review, consumption saw a deep downturn. Benzene consumption peaked at $1.6K in 2012; however, from 2013 to 2024, consumption failed to regain momentum.