Market Summary
The global ethylbenzene market is expected to register a CAGR of over ~3.6% during the forecast period. The Asia-Pacific market is expected to exhibit the highest CAGR during the forecast period owing to the growth of end-use industries such as polymers, construction, agricultural, packaging, electronics, and other industrial. The expanding manufacturing industry has increased the demand for ethylbenzene in developed and developing economies such as the US, Germany, China, and Japan, which is expected to boost the growth of the global ethylbenzene market during the forecast period.
Key Players
- Royal Dutch Shell Plc
- Synthos S.A.
- DowDuPont
- Total S.A.
- Versalis
- Chevron Phillips Chemical
- ufu Xindi Chemical Research Limited Company
- LyondellBasell Industries
- Zhejiang Weishi Biotechnology Co., Ltd
- SABIC
- BASF SE
- Chevron Phillips Chemical
Regional Analysis
The Ethylbenzene Market, by region, has been segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The market in Asia-Pacific accounted for the largest share of the global market in 2018 and is expected to witness healthy growth during the review period. Most of the demand in the region is expected from China, India, and South-East Asian countries owing to the increasing demand for polymers followed by chemicals in end-use industries such as paints & coatings.
The North American market held the second-largest share of the global ethylbenzene market in 2018. The growth is attributed to the increasing manufacturing activities in the US, followed by Canada. The key players operating in the region are planning to strengthen the supply chain, which is expected to propel the market growth during the review period. For instance, Chevron Phillips Company is planning to acquire small vital players to increase the revenue in the global market. Thus, the growing investments to increase the production capacities in the region is expected to boost the demand for ethylbenzene in North America.
The demand for ethylbenzene in Europe region can be attributed to the moderate growth of the chemical industry owing to stringent REACH regulations. However, for application for ethylbenzene in Middle East & Africa is expected to boost with moderate CAGR during the forecast period.
The Latin American market is expected to witness a moderate growth owing to the rising demand for the polymer and chemical industries.
Segmentation
The global ethylbenzene market has been segmented by application, end-use industry, and region.
Based on application, the global market has been divided into gasoline, paint & coatings, natural gas, asphalt & naphtha, diethylbenzene, and others. Based on end-use industry, the global market has been categorized into polymers, construction, agriculture, packaging, electronics, and other industrial.
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