Benzene is the most in-demand aromatic building block and the third most in-demand petrochemical building block (after ethylene and propylene). As a primary petrochemicals aromatic building block, benzene is further converted to intermediates, which then find further outlets through processes such as polymerization and co-polymerization to plastics and elastomers.
Asia has been a major market for benzene with the region accounting for about XX% of the global demand in 2017. The region s share in benzene demand has grown to about XX% in 2017; mainly due to strong growth in Chinese benzene demand. Regional share in demand for the North America has lowered from XX% in 2005 to about XX% in 2017 as downstream facilities migrated to low cost centres in developing countries. Similarly, share of Western Europe in benzene demand has also declined from XX% in 2005 to about XX% in 2017. With new benzene consuming downstream units being set up in Middle East, its regional share has grown from XX% in 2005 to about XX% of the global demand in 2017. Global demand has grown from XX% in 2010 to XX% in 2017.
