22 November 2011 16:41 [Source: ICIS news]
AMSTERDAM (ICIS)--Improvements in the profitability of the benzene industry could be seen by 2015 as global operating rates are expected to recover slightly in the next few years, a consultant said on Tuesday.
Asia is expected to become a significant exporter of benzene as it will gain a sizeable excess of capacity, said Stewart Hardy, Manager – ChemSystems Market Dynamics at US-based consultants Nexant.
The Chinese benzene market will be roughly balanced before major derivatives plants start up, said Hardy.
He added that coal-based benzene plants currently dominate benzene capacity in
Hardy expects North America, primarily the
Benzene demand staged a dramatic recovery in 2010 following declines in the previous year, said Hardy. There was double-digit growth for cumene, cyclohexane and nitrobenzene, with fairly strong growth for styrene.
The 10th European Aromatics & Derivatives Conference, organised by ICIS and International eChem, is taking place in
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