Benzene
The simplest aromatic hydrocarbon and the starting point for styrene, phenol, nylon and MDI, made mostly as a co-product of refining and cracking.
Commodity chemicals · Aromatics · No. 26
- Single chemical
- Feedstock: Oil, gas or coal
- about 55 Mt a year of demand (2024, indicative, basis: industry estimates commonly cited by S&P Global and ICIS)
- 1.9 t CO₂e per t
- HS 290220
In March 2026 benzene sold for less than the naphtha it came from, as war in the Gulf scrambled Asia's refineries.
Chart: Illustration: Benzene
Where it comes from
Chart: Map of where it comes from
Benzene is rarely made for its own sake: it is extracted from refinery reformate and cracker gasoline, or made by converting surplus toluene.
Three things to know
- China holds about 40% of capacity yet still imported about 5.6 Mt in 2025, about 10% of world demand.
- Producers need a benzene-naphtha spread of about $150-180/t, but it fell to minus $88/t on 20 March 2026.
- India is a net exporter, shipping 217,694 t to China in 2025, from 1.57 Mt of capacity in the latest official data.
The journey
- 1 Crude or coalHeavy naphtha, cracker feed or coke ovens
- 2 ReformingReformers and crackers make aromatic streams
- 3 ExtractionSulfolane separates 99.9% benzene
- 4 Toluene conversionSurplus toluene turned into benzene
- 5 DerivativesStyrene, phenol, nylon and MDI