Ethylbenzene Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI4070
Ethylbenzene Market size should witness significant growth during the projected time period led by rising demand for plastic polymers and synthetic rubbers owing to their lightweight, high durability and injection molding capability. The product is used in the polystyrene, ABS, SAN, SBR, styrene polyester, resins, and acrylonitrile butadiene production, thereby driving the overall ethylbenzene market growth.
Ethylbenzene is a colorless and inflammable liquid monocyclic aromatic hydrocarbon having an odor similar to that of gasoline. It is insoluble in water as it is lighter than water and its vapors are denser than air. It occurs naturally in petroleum and coal tar but for large scale production, it is produced by combining ethylene and benzene in an acid-catalyzed reaction.
Rising application of polystyrene in packaging industry owing to its thermal resistance and high insulation properties are the key factors which may boost overall ethylbenzene market growth. Global polystyrene market size is expected to be valued at over USD 30 billion by the end of 2025. The product is dehydrogenated to produce styrene, a monomer of polystyrene thereby accelerating market demand.
Increasing demand of paint and coating in construction and automotive industries for improving visual appeal and protection against environmental degradation are the key factors which may foster the market size. Global paint and coating market size may surpass USD 265 billion by 2025. Solvents are an important part of paints and coating as it is used to dissolve the pigment and binding agents, thereby boosting the ethylbenzene market size.
The product is widely used as an anti-knocking or octane boosting agent in gasoline. Global octane booster market size is likely to be valued at over USD 70 billion by the year 2022. The product reduces premature fuel ignition in high compression combustion engine. It raises the octane level of fuel, thereby increasing the pressure and temperature at which gasoline will ignite at its own thus boosting its efficiency, which in turn accelerate the product growth.
EPA has set an enforceable regulation for ethylbenzene known as maximum contaminant level (MCL) and stated the limit at 0.7 mg/L or 700 ppb which are protective for human health. Acute exposure of the product to human has resulted in eye irritation, dizziness and respiratory ailments such as chest constriction and throat irritation may hamper ethylbenzene market growth.
North America driven by Canada, Mexico and U.S ethylbenzene market demand should register significant growth during the foreseeable timeframe. Earlier tetramethyl lead was used as an additive in gasoline and other fuels to boost octane rating but it is now substituted by the product owing to increasing environment awareness and stringent rules for using lead additives which is likely to foster regional industry demand.
Europe led by France, Italy, Spain, UK and Germany ethylbenzene market size may witness a substantial growth during the forecast time period. Growth in automobile sector owing to shifting consumer preference toward self-owned cars and increasing purchase parity may drive the market growth. In 2018, more than 18.5 billion cars were manufactured in Europe. Increasing usage of automobile paint and coatings to improve the visual appeal, protection from corrosion, UV rays and dust is likely to foster the regional market size.
Asia Pacific driven by India, Japan and China ethylbenzene market should see a significant growth by 2025. Rising packaging industry owing to booming e-commerce market and online food and beverage services which require proper packaging to protect the products and increase its shelf life may drive the regional market size. India packaging market size is expected to surpass USD 70 billion by the year 2025. Polystyrene owing to its high thermal insulation and durability properties are used in packaging of meat/poultry trays and egg cartons to protect them against damage or spoilage, thereby driving the regional product demand.
Global ethylbenzene market is fragmented. Companies like Chevron Philips Chemical Company, Synthos, LyondellBasell Industries Holdings, Versalis, Changzhou Dohow chemicals, Carbon Holdings, and Tianjin Jixin Industrial & Trade are key market players.
Ethylbenzene Market, By Applications, 2014-2025 (Tons) (USD Million)
- Plastic polymers.
Ethylbenzene Market, By End Use, 2014-2025 (Tons) (USD Million)
- Packaging industry
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- South Africa
- Saudi Arabia
- Chevron Philips Chemical Company
- Synthos S.A
- LyondellBasell Industries Holdings
- Changzhou Dohow Chemical
- Carbon Holdings
- Tianjin Jixin Industrial & Trade
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