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Benzene Prices Overview

Market Overview

Quarterly Update on Global Benzene Market

For the Quarter Ending September 2020

Asia

The third quarter performance highlighted that Benzene stocks in the Asian

market exceeded their last quarter levels as several new Chinese refineries

ramped up production while sellers continued to lament over stockpiling

inventories.

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Benzene Prices Overview

Mixed sales due to uncertain market dynamics while several economies

continue to exit lockdowns continued to impact the Benzene consumption.

However, with many Southeast Asian refineries implementing production cuts

September onwards, and downstream manufacturing units accelerating output

in several Asian economies ahead of the festive season, market players

believe that the demand-supply gap is likely to strike out a much-needed

balance in Q4 2020.

Europe

The third quarter European Benzene market remained lengthened with narrow

Benzene-Naphtha spread indicative of the fragile market conditions. The

demand for benzene from downstream sectors remained seasonally low in

addition to pressure of economic fallout due to COVID-19. The pricing graph

last showed an upward trajectory in July and then gradually tapered off due to

oversupply situation. Closures of automotive factories and persistently weaker

dynamics in the styrene sector hard hit the regional demand. Market players

stated there has been a substantial recovery in demand since the last quarter,

but not strong enough to push Benzene back to the pre-COVID levels as of

now.

North America

The third quarter showed mixed results for the North American Benzene

industry. Regional Benzene demand remained firm from the Styrene segment

amid a recent uptick in exports as well as stronger Benzene demand in the US.

Margins for the mixed xylene sector were pressured amid soft demand from

the downstream Paraxylene segment. Wave of production shutdowns due to

hurricane Laura led to temporary supply shortage. Prices showed a sharp

rebound with rise in upstream crude futures and prospects turning positive as

trading windows opened between the US and Asian markets.

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Benzene Prices Overview

How we can help

ChemAnalyst addresses the key problematic areas and risks associated with

chemical and petrochemical business globally and enables the decision-maker

to make smart choices. It identifies and analyses factors such as geopolitical

risks, environmental risks, raw material availability, supply chain functionality,

disruption in technology and so on. It targets market volatility and ensures

clients navigate through challenges and pitfalls in an efficient and agile

manner. Timeliness and accuracy of data has been the core competency of

Chemanalyst, benefitting domestic as well as global industry in tuning in to the

real-time data points to execute multi-billion-dollar projects globally.

Methodology

ChemAnalyst gathers information through primary research surveys conducted

with various Benzene manufacturers, spread across the domestic and

international markets, suppliers and dealers/distributors to gain insights

into value-chains and demand-supply scenario to assess the market

situation. Thorough study of the company’s annual reports and secondary

sources such as exhaustive search on credible paid databases, including our

internal database is done to verify the information. All the collected information

is analyzed, evaluated and presented in chronological order to depict a

meaningful and clear picture of the concerned market.

Our dedicated team of industry experts comprehensively monitors and

analyzes various aspects of the Global Benzene market. The team analyzes

various industrial segments, strategic viewpoints and provides an analysis

of the industry’s performance in the long run. This would enable our clients in

efficiently plan their future investments, mitigate risk, understand the cost

dynamics and strike out a balance amidst market volatility.

Critical examination of the impact of COVID-19 pandemic on the global

supply chains and shift in demand patterns with change in buying behavior of

consumers across the globe.

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Benzene Prices Overview

Several ongoing development projects across industries are tracked,

followed by the details of major projects in the development stage, which can

positively or negatively influence Global Benzene market.

Pricing is captured through exhaustive primary interviews with domestic and

international manufacturers, traders and importers and customers on weekly,

monthly and yearly basis.

Finally, region-specific markets for Benzene are analyzed and region-wise

demand pattern is tracked.

About

Benzene (C6H6) is an aromatic hydrocarbon and a colorless, refractive liquid

possessing a characteristic aromatic odour and toxic vapour. It obtained as a

by-product during the Refinery, Naphtha Cracker, Paraxylene and Steel plant

processes. Benzene is one of the key building blocks for several petrochemical

intermediates such as ethylbenzene for styrene production, cumene for phenol

and acetone, cyclohexane for nylon chain and nitrobenzene for aniline. These

derivatives are used across many industrial sectors to produce countless

consumer goods such as textile, packaging, paints, adhesives, plywood,

electronics, dyes, agrochemicals, pharmaceuticals and several others. The

global Benzene industry is particularly complex because of the different means

of production and variety of end uses it involves. Catalytic reforming or steam

cracking of liquid petroleum feedstocks and hydrodealkylation (HDA) of toluene

and toluene disproportionation (TDP) are some of the common Benzene

manufacturing processes used worldwide. Benzene is also co-produced during

the production of a paraxylene-rich xylenes stream. Being strongly tied to

several commodity petrochemicals, the overall Benzene consumption strongly

varies with the general economy and has been increasingly linked to the

expanding polymer and petrochemical industries in the emerging countries of

the world.