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Primary Petrochemicals in the GCC: Benzene Market Tracker

  • April 2014
  • -
  • Frost & Sullivan
  • -
  • 33 pages

Summary

Table of Contents

The study provides market information on one of the largest petrochemical regions, which is important for understanding the global market from a strategic perspective. The study enlists key manufacturers and their production capacities for benzene in the GCC along with a brief market overview and projected capacity expansions. Trade statistics for 2012 and price trends from 2008 to 2012 have been provided with a detailed analysis. The study includes a brief commentary on the major applications globally, key insights and future growth prospects for benzene.


Key Findings

The Kingdom of Saudi Arabia (KSA) is the major producer of benzene in the Gulf Cooperation Council (GCC) currently with over x % of capacity. Benzene capacity is expected to almost double from x million metric tonnes per annum (MMTA) in 2012 to x MMTA by 2015, at a compound annual growth rate (CAGR) of x %.

The production of benzene derivatives, such as ethylbenzene, cumene, and cyclohexane are estimated to account for over x % of the total benzene demand in the GCC.

Significant expansions in the regional downstream petrochemicals industry are expected over the next x to x years. This, coupled with growth in end-use sectors such as adhesives, packaging, coatings, and personal care, will drive demand for benzene derivatives.

US petrochemical plants are shifting to lighter feedstock driven by the shale gas and oil boom, which is expected to lead to lower output of benzene from naphtha crackers. This, coupled with the fact most of the new global capacity coming up in China will mostly be consumed domestically, will present the GCC with attractive exports markets in the United States and Europe.

Benzene production has always been a function of market demand levels for the core products, such as ethylene, gasoline, or other aromatics like xylene and paraxylene. Prices are expected to remain stable given the expected capacity additions.

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