As of 2012, the global benzene production stood at approximately 42.9 million tonnes, registering a 3.1% YoY increase. So far, the overall benzene production has already exceeded the pre-crisis level. In the same year the world benzene capacity utilization rates stood at around 75%. Asia took the lead in the world benzene market, accounting for more than half of the global benzene production volume. In 2012, the top five benzene producing countries (China, the US, South Korea, Japan and Germany) called for over 62% of the overall benzene output.
Benzene: global production broken down by country, 2012
SINOPEC, ExxonMobil Chemical, Shell, Dow, CNPC, Chevron Phillips, JX Nippon Oil and Energy Corp, Formosa Chemicals and Fibre Corp, Ineos Olefins & Polymers, Flint Hills Resources, Marathon Petroleum Company LP, GS-Caltex Oil Corp and Sabic are among the leading companies engaged in the global benzene industry.
The worldwide annual production capacity of benzene surpassed the 57.54 million tonnes mark in 2012. APAC accounted for almost 50% of the world’s total capacity.
Benzene: world production capacity broken down by region, 2012
The global benzene consumption followed an upward trend during 2009-2012. In 2012, it grew by more than 1.29 million tones compared to the previous year and exceeded 42.89 million tonnes. Asia-Pacific was the dominant benzene consumer, followed by Europe and North America. In 2012, the ethyl benzene and cumene industries were the major end users of benzene, accounting for around 51% and 20% of the world annual benzene output, respectively.
The global benzene foreign trade value went beyond USD 6.57 billion in the year 2012, with Asia-Pacific dominating the benzene exports and Europe leading the imports.
The worldwide benzene production is poised for stable growth in the next four years, spurred by the constantly increasing demand worldwide as well as benzene capacity additions, current and scheduled. In 2017, the globe’s benzene production is forecast to go beyond 50.95 million tonnes.
More information on the benzene market can be found in the report “Benzene: 2014 World Market Outlook and Forecast up to 2018”.