Global Benzene Market Size, Forecast, and Trend Highlights Over 2025-2037
Benzene Market size was valued at USD 45.5 billion in 2024 and is projected to reach USD 79.1 billion by the end of 2037, rising at a CAGR of 4.8% during the forecast period from 2025 to 2037. In 2025, the industry size of benzene is estimated at USD 47.5 billion.
The benzene market is witnessing substantial growth, largely fueled by its rising application in diverse end-use sectors. Significantly, the expansion of the automotive industry plays a crucial role in driving this demand. Benzene plays a crucial role in the production of synthetic rubber and plastics that are used in the manufacturing of vehicles. For example, China, a leading automotive manufacturer, produced over 28 million vehicles in 2023, which is directly linked to elevated benzene consumption. Furthermore, the increasing demand for electronic devices and construction materials further enhances the requirement for benzene-based products, such as resins and adhesives, thus accelerating market growth.
The benzene supply chain is defined by a multifaceted network that encompasses the procurement of raw materials, manufacturing processes, and global distribution channels. Asia-Pacific, with a particular emphasis on China and South Korea, holds significant importance within this framework. In the year 2021, China recorded imports of benzene valued at approximately USD 2.80 billion, whereas South Korea's exports were around USD 2.26 billion. The Producer Price Index (PPI) for chemicals and related products, focusing on aromatics, was reported at 287.09 in August 2024, indicating the economic challenges impacting production costs. At the same time, investments in research (R&D are essential for improving production efficiency and fostering sustainable alternatives, thereby securing the industry's long-term sustainability and competitive edge.
