benzene Pricing Assessment

Markets Covered:

Belgium

China

France

Germany

India

Japan

Netherlands

Saudi Arabia

Korea

Taiwan

United States

Benzene Price Trend, Analysis and Forecast

In Q1 2024, the global benzene market experienced a bearish trend, particularly in South Korea (APAC region), where prices were reported at $1010/MT. This marked a significant decrease of -11.88% from the previous quarter, driven primarily by weak demand from downstream industries, including styrene monomer and phenol manufacturers. In addition, lower crude oil prices globally contributed to the downward pressure on benzene prices. The market also saw limited export opportunities due to geopolitical tensions and sluggish industrial activity in key regions like Europe, further adding to the softness in pricing.

In Q2 2024, benzene prices in South Korea showed a positive recovery, with prices increasing to $1050/MT, reflecting a +3.96% rise from Q1. This upward trend was largely attributed to stronger demand from the automotive and packaging sectors, as well as a rebound in industrial activities post-Lunar New Year. The global market also saw a surge in demand for benzene derivatives, such as styrene and nylon, particularly in the APAC region, which helped stabilize prices. Rising crude oil prices, coupled with tightening supplies due to planned refinery maintenance in key regions, further supported the upward price movement.

By Q3 2024, the benzene market entered a bearish phase again, with prices in South Korea reported at $1000/MT in July, a decrease of -3.85% from Q2. This downturn was driven by an oversupply of benzene, especially from refineries in the Middle East and the U.S., combined with weaker demand from the downstream chemical sectors. The global supply chain also faced disruptions due to logistical challenges, including port congestion in major Asian hubs, which limited exports and added to the oversupply situation. Additionally, inflationary pressures across Europe and North America softened demand in consumer-facing industries, further depressing prices.

Looking ahead to Q4 2024, the benzene market is expected to face mixed conditions. On the one hand, increased demand from the packaging and automotive sectors during the festive season could apply upward pressure on prices, particularly as supply remains constrained in certain regions due to ongoing logistical issues. However, the global market might continue to struggle with an oversupply of benzene. As a result, the benzene market may see fluctuating prices, with the possibility of slight increases driven by short-term demand spikes, but overall subdued growth due to underlying supply-demand imbalances.

Why ?

is your trusted resource for tracking global benzene price trends. Our platform delivers real-time data and expert analysis, offering deep insights into the key factors driving price fluctuations in the benzene market. By monitoring critical events such as geopolitical tensions, supply chain disruptions, and economic shifts, keeps you fully informed of market dynamics.

In addition, provides detailed forecasts and updates on production capacities, enabling you to anticipate market changes and make well-informed decisions. With , you gain a competitive edge in understanding all the elements that influence benzene prices worldwide. Stay ahead of the curve with ’s reliable, accurate, and timely Lactic Acid market data.

Track ‘s benzene price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.

Track 's benzene price assessment on a weekly basis since 2015 onwards, along with short-term forecasts, and get access to the detailed report in a downloadable format.

Historically, several events have caused significant fluctuations in benzene prices

Russia-Ukraine Conflict (2022-Present): The conflict disrupted energy markets and led to higher feedstock prices in Europe, causing volatility in benzene prices globally.

Texas Winter Storm (2021): Extreme weather in the U.S. Gulf Coast region halted petrochemical production, leading to short-term supply shortages and a spike in benzene prices.

COVID-19 Pandemic (2020): Initially, there was a sharp decline in benzene demand due to lockdowns and reduced industrial activity. However, demand rebounded as markets reopened, particularly in sectors like packaging and chemicals.

IMO 2020 Regulations (2020): The introduction of stricter marine fuel sulphur regulations impacted the availability of certain feedstocks for benzene production, influencing pricing dynamics.

U.S.-China Trade War (2018-2019): Trade tensions between the U.S. and China disrupted supply chains, impacting benzene pricing due to uncertainties in trade flows.

Hurricane Harvey (2017): Severe flooding in the U.S. Gulf Coast, a major hub for benzene production, caused significant supply disruptions, leading to price surges.

These factors highlight the benzene market’s sensitivity to both global events and regional disruptions, emphasizing the importance of monitoring market trends for strategic decision-making.

Methodology and Specifications

benzene Pricing Assessment Research Methodology

Data Collection and Sources

Real-Time Market Data: aggregates real-time pricing data from a wide range of sources, including global commodity exchanges, industry reports, and proprietary databases. This ensures that our assessments reflect the most up-to-date market conditions.

On-the-Ground Intelligence: Our team collects insights directly from key market participants, including benzene producers, suppliers, traders, and end-users, across major production hubs. This local intelligence helps us understand regional market dynamics.

Supply Chain Monitoring: We monitor the entire benzene supply chain, from the availability of raw materials (such as toluene, crude oil, and naphtha) to production and distribution. This includes tracking feedstock prices, production capacities, and logistics, ensuring comprehensive coverage of supply-side factors.

Event Tracking and Impact Analysis

Geopolitical Tensions: tracks global geopolitical developments, such as the Russia-Ukraine conflict or U.S.-China trade disputes, which can impact benzene supply and prices. We analyse how these disruptions affect supply chains and contribute to price volatility.

Natural Disasters and Industrial Accidents: We assess the impact of natural disasters, like hurricanes in the U.S. Gulf Coast, or industrial accidents, which may temporarily shut down benzene production facilities and cause short-term supply shortages.

Regulatory Changes: Changes in environmental regulations, such as restrictions on sulphur emissions or updates to fuel standards (e.g., IMO 2020), can influence benzene production and consumption patterns, affecting market prices.

Production Capacity and Supply Analysis

Current Production Monitoring: We maintain a detailed database of global benzene production facilities, tracking their operational status, maintenance schedules, and output levels. This ensures we can assess current supply availability accurately.

Future Capacity Projections: Our research provides forecasts of upcoming benzene production capacities, accounting for new plants, expansions, and innovations in technology. This helps predict future supply trends and potential impacts on price stability.

Demand Forecasting

Sectoral Demand Analysis: offers in-depth analysis of benzene demand across key industries like petrochemicals, automotive, and construction. We track year-on-year demand growth and predict future consumption trends based on economic data and industry forecasts.

Global Demand Dynamics: Our methodology considers regional demand variations and their effects on global benzene pricing. This includes shifts in manufacturing hubs, trade agreements, and changes in environmental policies.

Pricing Model Development

Dynamic Pricing Models: uses advanced econometric models to forecast benzene prices, combining real-time data, historical price trends, and future market expectations. These models are regularly refined to ensure high accuracy and reliable predictions.

Scenario Analysis: We conduct scenario-based assessments, evaluating various potential future market conditions. This includes best-case, worst-case, and most likely scenarios, providing clients with insights to prepare for different outcomes.

Reporting and Client Support

Comprehensive Reports: Our clients receive detailed reports covering current benzene price assessments, future price forecasts, and thorough analysis of market drivers. These reports are actionable and offer clear recommendations.

Ongoing Support: offers continuous updates and personalized support, ensuring clients always have access to the most up-to-date information. Our experts are available to discuss specific market trends and provide tailored advice.

This methodology ensures that delivers the most accurate, timely, and actionable benzene pricing assessments, helping clients stay ahead of market trends and make well-informed decisions.

Specifications

Molecular Weight[g/mol]

78.11 g/mol

CAS No

71-43-2

HS Code

29022000

Molecular Formula

C₆H₆

benzene

Benzene (C₆H₆) is a colourless and highly flammable liquid with a sweet Odor, widely recognized as a key building block in the petrochemical industry. It is a simple aromatic hydrocarbon consisting of six carbon atoms arranged in a ring with alternating single and double bonds, forming a structure known as a benzene ring. Benzene is a naturally occurring substance found in crude oil and is also produced synthetically from petroleum-based feedstocks like naphtha and toluene.

Packaging Type

ISO Tank

Grades Covered

Purity: >99% (Industrial Grade) (Bulk)

Incoterms Used

FOB Busan, Ex-Vizag, FOB Houston, FOB Rotterdam, FD Hamburg, FD Antwerp, FD Le Havre, CIF Shanghai, CIF Yokohama, CIF Kaohsiung (South Korea), CIF Jeddah (India)

Synonym

Benzin, Benzol

Quotation Terms:

20-25 MT (Domestic), 30-35 (Import-Export)

Ex-Location: This incoterm refers to a shipping agreement where the seller makes the goods available at their premises, and the buyer is responsible for all transportation costs, including shipping, insurance, and any other fees.
CIF: CIF refers to the Cost, Insurance, and Freight (CIF) terms for goods. Under CIF terms, the seller is responsible for the cost of goods, insurance, and freight charges until the goods reach the port of destination.
FD: FD stands for Free Delivered where the seller takes full responsibility for delivering goods to the location/port. This ensures the buyer receives the goods at the designated port with all necessary costs, except import duties, covered.
FOB: FOB refers to the Free On-Board shipping term, where the seller is responsible for the cost and risk of delivering the goods to the port. Once the goods are on board the vessel, the responsibility shifts to the buyer for all costs, including shipping and insurance.

Properties	Specification
Boiling point	79 °C (1013 h Pa)
Density	0.95 g/cm3 (20 °C)
Explosion limit	1.4 - 8.0 %(V)
Flash point	-11 °C
Ignition temperature	555 °C
Melting Point	-1 °C
Vapor pressure	101 h Pa (20 °C)
Viscosity kinematic	0.78 mm2/s (20 °C)
Solubility	1.8 g/l

Applications

Chemical Intermediates: Benzene is a precursor to produce many chemicals, including styrene (used to make polystyrene), phenol, aniline, and cyclohexane. Plastics and Resins: It is essential for manufacturing plastics, resins, and synthetic fibres like nylon. Pharmaceuticals: Benzene derivatives are widely used in drug synthesis. Rubber and Lubricants: It is used in the production of rubber, lubricants, dyes, detergents, and pesticides.

Disclaimer

Benzene price provided by is a base price and excludes VAT/Taxes, discounts, or offers. The information herein is accurate to the best of our knowledge as of the date indicated and is provided solely for the convenience of our customers as a reference for benzene. disclaims any warranties or representations regarding the accuracy of results derived from this information. It is the sole responsibility of the user to assess the suitability of the product for their specific application. This document does not constitute an endorsement to use the product in violation of any applicable patent rights.

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Frequently asked questions

What factors influence the pricing of benzene in the global market? +

The pricing of benzene in the global market is influenced by several factors, including:

Crude Oil Prices: Since benzene is derived from petroleum, fluctuations in crude oil prices directly impact benzene production costs.

Supply and Demand Dynamics: Global supply disruptions, such as refinery maintenance or natural disasters, can lead to shortages, pushing prices higher. Similarly, rising demand from industries like petrochemicals and plastics can drive up prices.

Geopolitical Tensions: Conflicts or trade disputes, such as the Russia-Ukraine conflict, can affect benzene production and trade routes, leading to market volatility.

Regulatory Changes: Environmental regulations, like the IMO 2020 sulphur cap, impact feedstock availability, affecting benzene production and pricing.

How does seasonal demand affect Benzene prices? +

Seasonal demand plays a significant role in Benzene pricing. For instance, during the winter months, demand for heating fuels often increases, leading to higher crude oil prices, which in turn can affect benzene prices. Additionally, demand from the automotive and construction industries tends to rise during the summer months, driving up consumption of benzene-based products, potentially leading to price hikes. Procurement heads must monitor these seasonal trends to anticipate cost fluctuations.

What is the forecast for Benzene prices in the upcoming months? +

Benzene price forecasts are based on several key indicators, including crude oil price trends, feedstock availability, production capacity changes, and geopolitical developments. Current market trends suggest that benzene prices may experience moderate fluctuations due to ongoing supply chain disruptions and demand recovery in industries like automotive and chemicals. However, uncertainties such as the global economic outlook and potential regulatory shifts could affect these projections. provides weekly updates on Benzene pricing to help procurement heads stay informed of the latest market trends.