Global Ethylbenzene Industry Market Report Description:
Global ethylbenzene industry market report gives comprehensive outlook on ethylbenzene industry across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa. The report on global market gives historical, current, and future market sizes (US$ Mn) on the basis of application, end users, and regions. This report studies global ethylbenzene industry market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in global ethylbenzene industry products.
The global ethylbenzene industry market estimated to be valued US$ XX Mn in 2018 and poised to grow at significant CAGR over 2019-2025. Ethylbenzene is a colorless, flammable liquid that odors like gasoline. It is found in natural products such as petroleum and coal tar and is also institute in manufactured products including paints, insecticides, and inks. Styrene is another chemical primarily synthesized from ethylbenzene. Solvent, in fuels, and to make other chemicals is some of the major uses of ethylbenzene. These factors propel the growth of market. In addition, widespread occurrence of chemical industries in developing economies are anticipated to bolster the demand for ethyl benzene. However, fluctuating prices of crude oil is expected to restraint the growth of market.
Use of Solvents for Manufacturing of Various Products
Ethylbenzene is predominantly used in solvent, fuels, paints, lacquers, adhesives, inks, and cleaning materials. Solvent is the major application for ethylbenzene. Ethylbenzene catches an extensive application as solvent and reagent in manufacturing various products, such as dyes, varnishes, paints & coatings, lacquers, rust prevention spray, pharmaceuticals, cleaning materials, dyes, adhesives, inks, perfumes, pesticides and synthetic rubber. Rising activities concerning construction sector, predominantly in Asia-Pacific region, along the escalating production of automotive parts, driven by rising demand for SUV’s and electric vehicles, besides the development of pharmaceutical industry acts as a complementary factor for the growth in the demand for ethylbenzene.
Asia Pacific Accounts for Larger Market Revenue Share in Global Market
Asia Pacific witnessed a massive growth in the demand for ethyl benzene owing to the rising technological innovations in emerging economies like India and China. Rise in demand of product from countries such as South Korea and Japan is also expected to rise in the number of manufacturing sites in Asia Pacific. Expansion of industries in Brazil is likewise anticipated to contribute to the regional market growth in Latin America. Moreover, North America and Europe are also expected to demonstrate a significant increase in the demand for product, owing to the rising applications of ethyl benzene in polymer and synthetic rubber industries. U.S. is anticipated to lead the North American region.
- LyondellBasell Industries NV
- DowDuPont Inc.
- Chevron Phillips Chemical
- Eni Versalis
- Changzhou Dohow Chemical Co. Ltd
Key players in ethylbenzene industry market enhance their product portfolio and consumer base by adopting striking market strategy like collaborations, acquisitions, technological innovations, among others. For instance on April 2017: A Brazilian company, Videolar-Innova planned to expand styrene monomer production in the Triunfo complex in the Rio Grande do Sul state. The project is expected to increase the styrene capacity at the complex to 160,000 tons/year, which is scheduled to become operational around April 2019. With the expansion, the demand for ethylbenzene is expected to increase to produce styrene.
Key Findings of the Report:
- Global ethylbenzene industry market expanding at significant CAGR over 2019 to 2025 due to rising demands from various industries.
- Based on application type, solvent segment accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global market
By Applications Type
- Cleaning materials
By End User Type
- Paints & Coatings
- Rest of Europe
- Rest of Asia Pacific
- Rest of Latin America
Middle East and Africa
- South Africa
- Gulf Corporation Council Counties (GCC)
- Rest of MEA
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market.