Owing to the growing support from various governmental organizations, the market is likely to propel to US$ 31 Billion by 2032. A 3.5% CAGR is projected for the market during the forecast period.
The global ethylbenzene market is expected to secure US$ 31 Billion while exhibiting a 3.5% growth rate during the forecast period. The market is estimated at US$ 21.3 Billion in 2021 and US$ 21.9 Billion in 2022. The growth of the market can be attributed to the extensive usage of ethylbenzene for the production of styrene.
The increasing use of ethylbenzene in end-use industries such as packaging, electronics, construction, and agriculture is expected to boost the growth of the global ethylbenzene market during the forecast period. From 2015 to 2021, the market for ethylbenzene grew at a CAGR of 2.6%, closing at a value of US$ 21.3 Billion. As of 2022, the industry is likely to reach US$ 21.9 Billion.
On the contrary, the increasing concerns related to ethylbenzene hazards are expected to hinder market expansion in the coming time. In addition to it, stringent rules and regulations of various governments regarding the usage of ethylbenzene are other factors projected to hamper the industry growth in the forecast period.
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Key Takeaways from the Market Study
“The increasing demand of ethylbenzene for expansion of petrochemical industry across the globe is expected to drive the market in the forecast period. Also, the development of automotive, construction and packaging industries is projected to play a vital role in strengthening the market.”
Leading Companies Profiled in Ethylbenzene Market are
Competitive Analysis
Eminent players in the global ethylbenzene market include IHS Inc., International Finance Corporation, 3E Company, CMO Software, and Enablon North America Corporation, among others. In addition, the vendors are likely to leverage upgradation and product differentiation to gain an edge over other competitors in the market.
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Recent key developments among players include:
Key Segments Covered in the Ethylbenzene Industry Survey
Ethylbenzene Market by Application:
Ethylbenzene Market by End User Industry:
Ethylbenzene Market by Region:
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Future Market Insights, in its new offering, presents an unbiased analysis of the global ethylbenzene market presenting a historical analysis from 2015 to 2021 and forecast statistics for the period of 2022-2032. The study reveals essential insights on the basis of Application by End-user industry & Region (North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America)
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
Jun 16, 2023