Benzene Market Size, Share Trends, Demand, Growth and Opportunities Forecast to 2025
According to IMARC Group’s latest report, titled “ Benzene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025 ”, the global benzene market grew at a CAGR of 4.5% during 2014-2019. Looking forward, IMARC Group expects the global market to continue its moderate growth during 2020-2025. Benzene (C6H6) is a chemical compound which is highly inflammable, colorless, and has a sweet, gasoline-like smell. It is a by-product of the oil refining process and can also be obtained from crude oil, gasoline, and cigarette smoke. Benzene is widely adopted for various industrial purposes, such as manufacturing other chemicals, plastics, lubricants, resins, nylon and synthetic fibers, dyes, detergents, drugs, pesticides, etc. The growing utilization of insulation materials in construction activities is primarily driving the benzene market. The increasing adoption of benzene for manufacturing various consumer products, such as thinners and furniture wax, is further...