Rising demand for adhesives and sealants is also anticipated to escalate the growth of the 1,4-diisopropylbenzene industry. Adhesives and sealants are extensively used in various industries, including automotive, construction, and packaging. 1,4-diisopropylbenzene is employed as a raw material in the synthesis of certain adhesive and sealant formulations. The growing demand for these materials, driven by infrastructure projects, technological advancements, and increased consumer awareness of product quality, is expected to boost the consumption of 1,4-diisopropylbenzene.
The global 1,4-diisopropylbenzene industry is anticipated to reach a valuation of US$ 119.9 million in 2023, driven by increasing demand for solvents and cleaning agents. The trend is expected to create new opportunities for the market, leading to a projected CAGR of 4.1% between 2023 and 2033, and reaching a total valuation of approximately US$ 179.2 million by 2033.
One of the primary factors driving the growth of the 1,4-diisopropylbenzene market is the growing demand for fragrances & flavors. 1,4-diisopropylbenzene is utilized in the production of fragrances and flavors, which find extensive applications in the cosmetics, personal care, and food and beverage industries. The increasing consumer demand for scented products and unique flavors is driving the growth of these industries, consequently fueling the demand for 1,4-diisopropylbenzene.
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Another significant factor contributing to market growth is the expansion of the paints and coatings industry. The paints and coatings industry is witnessing significant growth due to the construction boom, infrastructure development, and increasing consumer spending on home improvement. 1,4-diisopropylbenzene is used as a chemical intermediate in the production of certain additives and components for paints and coatings. The expanding paints and coatings market is anticipated to drive the demand for 1,4-diisopropylbenzene.
Specialty chemicals encompass a wide range of products with unique properties and applications. 1,4-diisopropylbenzene serves as a key intermediate in the production of various specialty chemicals, such as antioxidants, lubricants, and corrosion inhibitors. The expanding specialty chemicals market, driven by advancements in industrial processes and the need for high-performance products, is likely to contribute to the growth of the market.
Another factor contributing to the market growth is the growing demand for agrochemicals. Agriculture plays a vital role in global food production, and the demand for agrochemicals continues to rise to enhance crop yields and protect against pests and diseases. 1,4-diisopropylbenzene is used as a precursor for the synthesis of certain agrochemical compounds, including pesticides and herbicides. The increasing need for effective crop protection solutions to meet the food demand of a growing population is expected to drive the demand for 1,4-diisopropylbenzene in the agrochemical sector.
Key Takeaways from the Market Study
- The global 1,4-diisopropylbenzene market was valued at US$ 115.2 million by 2022-end.
- From 2018 to 2022, the market demand expanded at a CAGR of 2.2%.
- The United States is expected to hold a dominant CAGR of 4.0% during the forecast period.
- By Product Type, the high-purity segment is expected to constitute a CAGR of 4.0% in 2033.
- On the basis of Application, the chemical intermediates segment is expected to dominate the market with a CAGR of 4.0% in 2033.
- From 2023 to 2033, 1,4-diisopropylbenzene market is expected to flourish at a CAGR of 4.1%.
- By 2033, the market value of 1,4-diisopropylbenzene is expected to reach US$ 179.2 million.
Advancements in packaging technologies, across the globe is a major factor that is expected to propel the growth of the 1,4-diisopropylbenzene market in the near future, remarks an FMI analyst.
Competitive Landscape
Prominent players in the 1,4-diisopropylbenzene market are
- Eastman Chemical Company
- SAGECHEM
- Goodyear Chemicals
- Syntechem Co. Ltd.
- Tokyo Chemical Industry Co. Ltd.
- Biosynth Carbosynth
- Angene International
- Kanto Chemicals
- ABCR Gmbh
- BLD Pharmatech
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Company Portfolio
- Tokyo Chemical Industry Co. Ltd.: Tokyo Chemical Industry Co. Ltd. is a global chemical supplier that provides a wide range of chemical products for research and industrial applications, such as 1,4-diisopropylbenzene. The company offers an extensive catalog of chemicals used in various scientific and industrial fields.
- Biosynth Carbosynth: Biosynth Carbosynth is a leading supplier of research chemicals, building blocks, and reference compounds for the life sciences industry. The company offers a diverse range of chemical compounds used in drug discovery, pharmaceutical research, and other scientific applications.
- Angene International: Angene International is a chemical supplier specializing in the provision of research chemicals, building blocks, and custom synthesis services. The company offers a broad range of chemical products used in research, development, and industrial applications.
- Kanto Chemicals: Kanto Chemicals is a global chemical company that offers a wide range of chemical products for various industries. The company provides a diverse portfolio of chemicals, including pharmaceutical intermediates, specialty chemicals, and laboratory reagents.
More Valuable Insights Available
Future Market Insights offers an unbiased analysis of the global 1,4-diisopropylbenzene market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the 1,4-diisopropylbenzene market, the market is segmented on the basis of product type (standard, and high purity), and by application (paints & coatings, electrical & electronics, chemical intermediates, solvents, graphic arts, and others), across seven major regions (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and Middle East & Africa (MEA)).
1,4-Diisopropylbenzene Market by Category
By Product Type:
- Standard
- High Purity
By Application:
- Paints & Coatings
- Electrical & Electronics
- Chemical Intermediates
- Solvents
- Graphic Arts
- Others
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Pacific
- Middle East & Africa
About Future Market Insights (FMI)
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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