China Drying Network News IHS Chemicals recently stated in Hungary that in the next eight years, the global demand for benzene and the center of gravity for production will shift eastward to emerging economies in the Asia Pacific region, while the focus of olefin production will shift to a cost-conscious North American region. In the next few years, there will be no new benzene production capacity in Europe and North America. In the future, the trade flow of pure benzene will also flow from Asia to Europe and the United States.
In the next eight years, the world's new pure benzene production capacity will be concentrated in Asia, and there will be little new production capacity in developed markets in Europe and America. IHS Chemical expects that pure benzene production in Northeast Asia and Southeast Asia will account for 50% of the world by 2016, as there is no new naphtha cracking capacity in Europe, and North America's new cracker is mainly based on ethane, which is newly added in the Middle East. Pure benzene production capacity will also be very limited. With the rapid economic development in the region, Asia will continue to lead the world in demand for pure benzene in 2012-2016. Because of the rapid growth of downstream polymers such as polystyrene and expanded polystyrene, the demand for styrene will increase, which in turn will stimulate strong growth in benzene consumption.
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