Global ethyl benzene market is expected to expand significantly over the forecast period owing to increasing applications in styrene production which is applied in expanding synthetic rubber and other end-use industries. Ethyl benzene is majorly applied in styrene production which has in growing polymer industry for the manufacture of SBR, ABS plastic and polystyrene. Ethyl benzene also serves as an intermediate in the production of numerous chemicals. Growing chemical industries in emerging economies are expected to foster ethyl benzene demand in diverse applications. Coating industry extensively uses ethyl benzene for the production of paints, varnishes and lacquers. It is also used in agricultural industry as an active ingredient in pesticides production. Increasing population and corresponding food demand is expected to boost agricultural and pesticides industries. Ethyl benzene is utilized as an additive in gasoline, which is witnessing growing popularity as an anti-knocking agent. Increasing ethyl benzene applications in natural gas extraction owing to increasing energy needs is also anticipated to drive global market over the forecast period. High octane rating makes it one of the most efficient fuel additives available worldwide. Innovative snow technology has been developed by key players of the industry, which represents economic and technological breakthrough in styrene production. Under this process raw materials such as ethane and benzene are dehydrogenated together to produce ethyl benzene. Such developments are further anticipated to boost global ethyl benzene demand in diverse industrial applications. However, long-term exposure to ethyl benzene has been known to negatively affect the human body owing to which governments have set stringent regulations to control ethyl benzene applications. Fluctuating crude oil prices are also expected to restrain the market over the forecast period.
Ethyl benzene is a colorless liquid with odor similar to gasoline. This highly inflammable product is extensively used as an essential ingredient in styrene production, via a catalytic dehydrogenation process. Styrene and ethyl benzene are one of the most important aromatics. Styrene is a precursor to several chemicals such as polystyrene, ABS, SBR, SAN resins, styrenal polyester, styrene plastic protective coatings and acrylonitrile butadiene. Increasing ethyl benzene applications are expected to boost product demand over the forecast period. Most of the styrene produced globally is processed into polystyrene and PS (polystyrene) which is further utilized in manufacturing food packaging material along with electrical and electronic devices. PS is also used as an insulating material in new buildings and refurbishment of old buildings.
Asia Pacific is anticipated to witness massive ethyl benzene demand owing to increasing developmental activities in the emerging nations of the region such as India and China. Industrial expansion in Brazil is also expected to contribute to the increasing demand from Latin American region. Product demand from South Korea and Japan is also anticipated to drive industry of Asia Pacific region over coming seven years. North America and Europe are also anticipated to display significant product demand, due to rising ethyl benzene applications in synthetic rubber and polymer industries. U.S. is expected to contribute to maximum product demand in North American region.
Market participants are carrying out several R&D activities to explore new product applications in order to increase ethyl benzene demand over the forecast period. R&D activities are also being conducted to produce bio-based product to comply with regulations set by the governments. New technologies are also being employed to manufacture ethyl benzene. These numerous factors are projected to boost industry expansion over next seven years. Market players are also implementing certain promotional marketing strategies to penetrate untapped markets such as Middle East and African countries.
Major market players operating in ethyl benzene are Tianjin Jixin Industrial & Trade Co. Ltd., Zhejiang Weishi Biotechnology Co. Ltd. and Qufu Xindi Chemical Research Lim
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