Global Tert-Amylbenzene Market size worth over $100 million by 2026
Published Date: December 29, 2020 Authors: Kunal Ahuja, Harneet Mehar
According to a new research report by Global Market Insights, Inc., the Tert-Amylbenzene Market size is set to surpass USD 100 million by 2026.
Tert-Amylbenzene also known as tert-pentylbenzene, plays a key role in a wide spectrum of chemical processes. It is a crucial intermediate in the production of hydrogen peroxide as it offers a building block in amorolfine synthesis which is a potent antifungal API. When added to a rechargeable lithium-ion battery, it prevents overheating, fire, and explosion.
Tert-Amylbenzene is mainly used in the three grades which include industrial, special, and ultrapure. Furthermore, it also offers higher oxidation initiation voltage, thus preventing battery damage while still protecting the battery from overcharging. Thereby, it is used in the batteries for small electronic devices and mobile communication devices.
Growing product demand as chemical intermediate will have a positive influence on market advancement
Chemical intermediate application is expected to exceed USD 50 million by 2026 with a growth rate over 5%. Tert-amylbenzene is utilized as a crucial intermediate in the production of hydrogen peroxide. Strong demand for hydrogen peroxide in the paper and pulp industry in form of bleaching agents will foster myriad opportunities for the tert-amylbenzene market manufacturers. Moreover, potential applications of hydrogen peroxide in wastewater treatment will further boost the adoption of tert-amylbenzene as chemical intermediaries.
Besides, tert-amylbenzene also acts as a chemical intermediate owing to persuading feature of radical interceptor and redox shuttle which helps to increase secondary lithium batteries safety. Expansion of hydrogen peroxide production by leading manufacturers including Evonik Industries, Arkema S.A., OCI Company Ltd., Solvay, Aditya Birla Chemicals Limited, PeroxyChem LLC, etc. will accelerate the tert-amylbenzene market share globally.
Browse key industry insights spread across 140 pages with 90 market data tables and 20 figures & charts from the report, “Global Tert-Amylbenzene Market By Application (Pharmaceuticals, Chemical Intermediaries, Batteries), Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, China, India, Japan, South Korea, Malaysia, Australia, Brazil, South Africa, Saudi Arabia, UAE), Application Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026)” in detail along with the table of contents:
Booming automotive sector across Asia Pacific region will stimulate industry expansion.
Asia Pacific is expected to exceed USD 30 million by 2026 and is anticipated to grow at CAGR of over 4.5% from 2020 to 2026. Tert-amylbenzene market growth in Asia Pacific is majorly fueled by the booming automotive sector resulting from significant population growth and the subsequent rise in requirement for mobility. The region has the presence of a well-established automotive manufacturing sector including market leaders including Mitsubishi, Hyundai-Kia, Honda and Maruti Suzuki.
Tert-amylbenzene is well-suited as an additive in battery electrolytes owing to its ability to protect batteries from ignition or explosion upon overcharging. Growing availability of charging infrastructure and increasing safety standards of electric vehicles should boost the adoption of lithium-ion batteries leading to stimulate the tert-amylbenzene market revenue.
Rising European electronics industry should foster market expansion
Europe market share is expected to exceed USD 20 million and is forecasted to grow over 3% by 2026. Growing consumer preference in Europe for sophisticated and energy efficient white goods and wearables has led to substantial expansion of consumer electronics sector. Electronics manufacturers are increasingly product differentiation and product innovations to achieve competitive advantage and ensure market growth. The gradually rising miniaturization of batteries along with higher oxidation initiation voltage power has increased the demand for tert-amylbenzene. These listed factors are stipulated to fuel the tert-amylbenzene market share over the forecast period in Europe.
Key manufacturers in Tert-amylbenzene indutry includes Sigma Aldrich, Solvay, TCI Chemicals, Alfa Aesar Chemicals, Frontier Scientific Inc., and Zhenjiang Haitong Chemical industry Co., Ltd. Companies are funding into latest product releases to enhance product portfolios.
In August 2020, Tokyo Chemicals Industry, Co., Ltd announced to launch a digital storefront that was created by Capgemini and built on SAP Commerce Cloud solution and Digital Customer Experience (DCX) practice. The new digital customer platform includes nine languages and currencies, across eight independent regional websites and would support operations in 20 countries. This strategy will help Tokyo Chemical Industry to enhance the B2B customer experience and product sales covering around 20 countries globally.