Ethyl Benzene Market Analysis, Market Size, In-Depth Insights, Growth and Forecast 2029

Posted by aartimurkute on October 19th, 2022

Ethyl benzene is a colourless and flammable liquid with a gasoline-like odour that is produced commercially by combining benzene and ethylene. It is a vital component of diesel, automotive, and aviation fuels. In addition, it is found in crude petroleum streams and is also used in mixed xylenes. Xylenes are highly used as a solvent for paint removers, thinners, spray paints, and varnishes, creating a significant demand for xylenes. This, in a way, create positive growth prospects for the ethyl benzene market. Ethyl benzene application further extends as an intermediate in the production of styrene and as a precursor of polystyrene in the petrochemical industry. Polystyrene also finds its application in packaging of consumer goods. Such a favourable scenario is projected to create an impetus in the ethyl benzene market.

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Paced Ethyl Benzene Demand in Styrene Production to Propel Sustained Growth Across Market

Ethyl benzene is utilised in the petrochemical industry for the manufacturing of styrene. Styrene has several use cases which include the development of synthetic rubber and the manufacture of ABS (acrylonitrile-butadiene-styrene). Besides, styrene-based polymers are also widely used in several end-user industries such as agriculture, construction, and petrochemicals. Besides, the growing sales of smartphones is accelerating the expansion of electronic manufacturing plants, fuelling the demand for ethyl benzene. Additionally, the use of styrene has also experienced a significant uptick in the construction sector. This is mainly accredited to its capability to develop gloss, adhesion, and resistance to water in building and deck enamels. The cumulative force of these factors is boosting the demand for styrene. This in turn is projected to augur well for the ethyl benzene market.

Ethyl Benzene as a Paint Solvent to Prolong Market Expansion

Ethyl benzene also acts as a paint solvent and is considered a vital component in motor fuels. Therefore, it is widely used in thinners, paint remover solutions, and household detergents. The accelerated demand from end-use industries is creating remarkable shifts in demand for ethyl benzene. Meanwhile, the growing investments in infrastructure are further facilitating the expansion of paint industry. Moreover, the increased expenditure on aesthetics across commercial and residential sectors is projected to create new revenue opportunities in the market. On the whole, the rising use of ethyl benzene in paints as a solvent will lead the market to sound maturity.

Asia Pacific to Sustain Dominance Amid Thriving Building and Packaging Industries

The burgeoning building and packaging industries have significantly spurred the use of ethyl benzenes as a solvent and reagent in paints and coatings. This is mainly witnessed in major countries of Asia Pacific including China, India, and Japan. Moreover, consumers and investors are significantly increasing their investments in this region. Growing investment in public infrastructure, renewable energy, and commercial projects have influenced the market growth in Asia Pacific. These factors are substantially increasing the demand for ethyl benzene in the region, promoting the holistic growth of the ethyl benzene market in Asia Pacific.

Prominent Market Players

Some of the most competitive players in the ethyl benzene market include Zhejiang Weishi Biotechnology Co. Ltd (China), DowDuPont (US), SABIC (Saudi Arabia), Total S.A. (France), and ufu Xindi Chemical Research Limited Company. (China), Versalis (Italy), LyondellBasell Industries (The Netherlands), Synthos S.A.(Germany), and BASF SE (Europe).

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