Market Summary:
The global demand for ethylbenzene has increased in the last couple of years. The growth of the global market is primarily driven by its increasing application in styrene production, chemical intermediates, and various end-use industries. Furthermore, the mergers and acquisitions in the chemical industry are also expected to fuel the market growth during the review period.
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Segment Analysis:
The global ethylbenzene market has been segmented based on application, end-use industry, and region.
Based on application, the global ethylbenzene market has been segmented into gasoline, paint & coatings, natural gas, asphalt & naphtha, diethylbenzene, and others. The gasoline segment accounted for more than half of the market share in terms of volume and value in 2018. Thus, an optimistic application outlook of ethylbenzene in end-use industries across the globe is expected to drive the demand during the forecast period. The pesticides is expected to be the fastest growing segment in Asia-Pacific during the forecast period. The growth is attributed to the expanding chemical and paints & coatings industries.
By end-use industry, the global market has been segregated into polymers, construction, agricultural, packaging, paints & coatings, electronics, and other industrial. The polymers segment accounted for the largest market share owing to their increasing use in the production of styrene, which is later used to produce polystyrene, ABS resins, unsaturated polyester resins, SB latex, and SB rubber. Likewise, the increasing demand for ethylbenzene in intermediate chemical production is expected to boost the growth of the chemical segment.
Competitive Analysis:
- Synthos S.A.
- Chevron Phillips Chemical Company
- LyondellBasell Industries
- Total S.A.
- Versalis
- ufu Xindi Chemical Research Limited Company
- Royal Dutch Shell Plc
- Zhejiang Weishi Biotechnology Co., Ltd
- SABIC
- DowDuPont
- BASF SE
Regional Analysis:
The Ethylbenzene Market Analysis, by region, has been segregated into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific held the largest market share in 2018, followed by North America and Europe. The surge in polymer production and the growth of the manufacturing industries are some of the prominent factors driving the demand for ethylbenzene across the globe.
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