Benzene prices move down in Mumbai market (Business Opportunities - Marketing & Sales)
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Benzene prices move down in Mumbai market | |
A marginal decrease in benzene prices was recorded in the Mumbai domestic market, as per Indian Petrochem analysts The price fell from Rs.78/kg on May 5 to Rs.77/kg on May 6, reflecting softer downstream demand and adequate imported availability. In the U.S., refinery turnarounds have reduced production rates, leading to tighter benzene supply. For instance, the shutdown of major plants like Dow Chemical in Louisiana and BASF Total Petrochemicals in Texas has exacerbated supply shortages In India, the benzene market is projected to grow at a compound annual growth rate (CAGR) of 6.8%, with revenues expected to reach USD 7,237.1 million by 2030. This growth is driven by increasing demand for benzene derivatives in industries such as plastics, synthetic fibers, and rubber manufacturing. Globally, the market volume reached 60.28 million metric tons in 2022 and is forecasted to grow to 76.04 million metric tons by 2030. The construction sector in regions like the US and Europe is anticipated to provide crucial support for demand in 2025 despite macroeconomic uncertainties. India hosts prominent benzene manufacturers, including Reliance Industries Limited (RIL), Haldia Petrochemicals Ltd, Mangalore Refinery and Petrochemicals Ltd, and Indian Oil Corporation (IOC). These producers play a significant role in meeting domestic demand and contributing to the global supply chain. The benzene market is shaped by factors such as crude oil price fluctuations, environmental regulations, and changing demand from downstream industries, Benzene Prices In India, Indian Benzene Prices, Indian Prices Benzene, Indianpetrochem. #Benzenepricesinindia #IndianBenzeneprices #IndianpricesBenzene #Indianpetrochem | |
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| Target State: All States Target City : Delhi, Ahamdabad and Mumbai Last Update : May 06, 2025 9:55 AM Number of Views: 33 | Item Owner : indianpetrochem Contact Email: Contact Phone: (None) |
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2025-06-01 (0.458 sec)