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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The latest industry analysis report published by Reports and Data offers a panoramic view of the global Ethylene industry and its key segments.
Industry growth rate, consumer demand, supply ratio, industry worth, and several market trends & opportunities are some of the critical factors highlighted in the report.
Some of the key business growth strategies include partnerships & collaborations, mergers & acquisitions, new product launches, agreements, and joint ventures.The global Ethylene market is forecast to reach USD 158.84 Billion by 2027, according to a new report by Reports and Data.
Ethylene is a monomer derived from petrochemical, which finds several use in end-use products, including fibers, and plastics.
Ethylene is also very useful in manufacturing organic chemicals.Major factors driving revenue growth of the global materials & chemicals industry are rise in global population, tremendous increase in demand for essential consumer products such as food & beverages, cosmetics, and personal care & hygiene products, and extensive use of chemicals and raw materials in industries including buildings & construction, automotive, agriculture, textiles, packaging, electronics, and several other industries.
Other major factors bolstering market revenue growth are increasing focus of manufacturers on using eco-friendly and sustainable materials & chemicals for reduced environmental impact, introduction of organic and highly sustainable chemicals, and increasing demand for high-performance agrochemicals and specialty chemicals.Get a sample copy of the Ethylene industry report @ https://www.reportsanddata.com/sample-enquiry-form/2336 Key participants include Exxon Mobil Corporation, Chevron Philips Chemical Company LLC, The Dow Chemical Company, Saudi Basic Industries Corporation, Sinopec Corporation, Lyondell Basell Industries, Royal Dutch Shell plc.
