In 2023, the UK imported benzene valued at approximately 149.5 million US dollars. The forecasted data for 2024 to 2028 indicates a steady increase in the import value of benzene, with a year-on-year growth rate of approximately 1.12% to 1.06% annually. The compound annual growth rate (CAGR) over the five-year period from 2024 to 2028 is forecasted to be around 1.09%, reflecting a modest upward trend.
Future trends to watch for include:
- Potential shifts in global oil prices, which may affect benzene production costs and prices.
- Regulatory changes and their impact on the importation and usage of benzene in the UK.
- Technological advancements that could either reduce or increase the demand for benzene derivatives in industrial applications.
- Economic factors influencing the automotive and chemical industries, key consumers of benzene.