During the projected period, the global ethylbenzene market is expected to reach US$ 31 billion, with a 3.5 percent growth rate. In 2021, the market is expected to be worth $21.3 billion, and $21.9 billion in 2022. The significant use of ethyl benzene in the manufacturing of styrene might be ascribed to the market’s expansion.
The increasing use of ethylbenzene in end-use industries such as packaging, electronics, construction, and agriculture is expected to boost the growth of the global ethylbenzene market during the forecast period. From 2015 to 2021, the market for ethylbenzene grew at a CAGR of 2.6%, closing at a value of US$ 21.3 Billion. As of 2022, the industry is likely to reach US$ 21.9 Billion.
On the other hand, rising worries about the dangers of ethylbenzene are projected to stymie market growth in the near future. Throughout addition, the industry’s growth is expected to be hampered by severe rules and regulations imposed by various governments governing the use of ethylbenzene in the projection period.
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The Market Study’s Most Important Findings
- By 2032, the styrene category is predicted to grow at a 2.9 percent compound annual growth rate (CAGR).
- The construction industry is expected to grow at a 3.0 percent annual rate during the projection period.
- From 2022 to 2032, the US market will generate US$ 10.7 billion, with a 7.2 percent CAGR.
- The Chinese market is expected to procure US$ 2.2 billion, growing at a rate of 3.1 percent during the assessment period.
In the projected period, the market is expected to be driven by rising demand for ethylbenzene for the expansion of the petrochemical sector around the world. In addition, the automotive, construction, and packaging industries are expected to play a key part in bolstering the market.
Leading Companies Profiled in Ethylbenzene Market are
- IHS Inc.,
- International Finance Corporation,
- 3E Company,
- CMO Software,
- Enablon North America Corporation
The following are some of the most important recent developments among players:
In April 2021 – Honeywell UOP has created a new refinery configuration to generate a cleaner-burning gasoline that complies with increasingly tough fuel standards, such as the Euro V standard, which limits sulphur content and carbon emissions from gasoline and diesel cars.
In May 2021 – INEOS Styrolution, the world’s leading styrenics company, is commemorating the 90th anniversary of polystyrene, a substance that has made a substantial contribution to societal well-being for nearly a century. Polystyrene was one of the first commercially available polymers, allowing a wide range of items to be created that improve our lives. Polystyrene is a recyclable substance that will be the material of choice in the future.
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Key Segments Covered in the Ethylbenzene Industry Survey
Ethylbenzene Market by Application:
- Ethylbenzene for Gasoline
- Ethylbenzene for Diethylbenzene
- Ethylbenzene for Natural Gas
- Ethylbenzene for Paint
- Ethylbenzene for Asphalt and Naphtha
Ethylbenzene Market by End User Industry:
- Ethylbenzene in Packaging
- Ethylbenzene in Electronics
- Ethylbenzene in Construction
- Ethylbenzene in Automotive
- Ethylbenzene in Agriculture
- Ethylbenzene in others.
Ethylbenzene Market by Region:
- North America Ethylbenzene Market
- Europe DNA Ethylbenzene Market
- Asia-Pacific DNA Ethylbenzene Market
- Middle East & Africa Ethylbenzene Market
- Latin America Ethylbenzene Market
More Valuable Insights
Future Market Insights delivers an unbiased research of the global ethylbenzene market in its new offering, which includes a historical analysis from 2015 to 2021 as well as forecast figures for the years 2022-2032.
The study reveals essential insights on the basis of Application (Styrene, Gasoline, Diethylbenzene, Natural Gas, Paint, Asphalt and Naphtha) by End user industry (Packaging, Electronics, Construction, Agriculture, Automotive other) & Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)
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