Tetraethyl Benzene Market Size

Tetraethyl Benzene Market Size

Tetraethyl benzene Market size was USD 454.01 thousand in 2020 and will grow at a CAGR of 2.5% from 2021 to 2027. The rising pharmaceutical industry along with its growing demand for chemical research applications will positively influence business expansion.

Tetraethyl Benzene is an organic compound, that is produced through various synthesis processes that mainly include the Crippen method and the Joback method. The processes use basic structural information of a chemical molecule, including, list of functional groups along with their parameters and calculate transport & thermophysical properties as a function of the sum of group parameters. The production of tetraethyl benzene is difficult since it has four ethyl groups compared to ethylbenzene, which has a single ethyl group. This increases the product cost compared to its precursors.

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Growing use of tetraethyl benzene as a raw material in the manufacturing of benzene carboxylic and vinylbenzene acids, especially pyromellitic dianhydride. Pyromellitic dianhydride is majorly used in heat-resistant polyimide resins and films & coatings applications, which will primarily drive the tetraethyl benzene market growth.

This is because Pyromellitic Dianhydride (PMDA), a key intermediate in polyimide-based composite materials and polyimide films, finds wide applications in tape automated bonding, flexible-printed circuit boards, and magnetic wire insulation. Furthermore, consistent developments in the coating and medical industries for economical & sustainable products will positively influence revenue generation.
 

Supply chain disputation due to the COVID-19 pandemic and high production & manufacturing costs owing to increased labor prices & rising taxes on product imports and other raw materials may hamper the tetraethyl benzene market share. Several environments compliances toward proper product storage packaging and transportation may also restrain product demand in the near-term. However, a positive outlook for chemical research applications and the pharmaceutical sector will support industry expansion.