The increasing use of ethylbenzene in end-use industries such as packaging, electronics, construction, and agriculture is expected to boost the growth of the global ethylbenzene market during the forecast period. The global ethylbenzene industry is expected to secure US$ 32,508 million while exhibiting a 3.5% growth rate during the forecast period. The market is estimated at US$ 21.3 Billion in 2021 and US$ 23,053.6 million in 2024. The growth of the market can be attributed to the extensive usage of ethylbenzene for the production of styrene.
On the contrary, the increasing concerns related to ethylbenzene hazards are expected to hinder market expansion in the coming time. In addition to this, stringent rules and regulations of various governments regarding the usage of ethylbenzene are other factors projected to hamper the industry growth in the forecast period.
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Key Takeaways from the Market Study
- By application of ethylbenzene for gasoline is in line to take up 43.8% of the industry share in 2024
- By end-user industry, the construction segment is to expand at a 3.0% growth rate during the forecast period.
- The US market to record a 2% CAGR from 2024-2034
- Market in China to expand at a 3.9% growth rate during the assessment period
“The increasing demand of ethylbenzene for expansion of petrochemical industry across the globe is expected to drive the market in the forecast period. Also, the development of automotive, construction and packaging industries is projected to play a vital role in strengthening the market.”
Competitive Analysis
Eminent players in the global ethylbenzene market include IHS Inc., International Finance Corporation, 3E Company, CMO Software, and Enablon North America Corporation, among others. In addition, the vendors are likely to leverage upgradation and product differentiation to gain an edge over other competitors in the market.
Leading Companies Profiled in the Ethylbenzene Market are
- Cepsa Chemicals
- Deten Quimica S.A.
- Chevron Phillips Chemical Company
- Honeywell International Inc.
- Huntsman International LLC.
- Reliance Industries Limited
- Jingtung Petrochemical Corp., Ltd.
- SASOL
- PT Unggul Indah Cahaya Tbk
- Desmet Ballestra
- Farabi Petrochemicals Co.
- S.B.K HOLDING
- Indian Oil Corporation Ltd.
- Qatar Petroleum
- JXTG Nippon Oil & Energy Corporation
- ISU Chemical
Recent key developments among players include:
- In April 2021, – Honeywell announced a new refinery configuration developed by Honeywell UOP to produce a cleaner-burning gasoline product that meets increasingly stringent fuel regulations, including the Euro V standard, which limits sulfur content and restricts carbon emissions from gasoline and diesel vehicles.
- In May 2021– INEOS Styrolution, the global leader in styrenics, celebrates 90 years of polystyrene, a material that has significantly contributed to societal well-being for almost a century. Polystyrene became one of the first commercially available polymers enabling a wide range of products that enhance our daily lives. Polystyrene is made for recycling, making it the material of choice for the future.
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More Valuable Insights
Future Market Insights, in its new offering, presents an unbiased analysis of the global ethylbenzene market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032. The study reveals essential insights on the basis of Application by End-user industry & Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)
Key Segments Covered in the Ethylbenzene Industry Survey
By Application:
- Ethylbenzene for Gasoline
- Ethylbenzene for Diethylbenzene
- Ethylbenzene for Natural Gas
- Ethylbenzene for Paint
- Ethylbenzene for Asphalt and Naphtha
By End User Industry:
- Packaging
- Electronics
- Construction
- Automotive
- Agriculture
- others.
By Region:
- North America
- Europe
- Asia-Pacific
- Middle East & Africa
- Latin America
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Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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