Ethyl benzene is a colorless liquid with a gasoline like odor and high inflammability. It is widely used in the petrochemical industry in the manufacturing of styrene. It is also used as an intermediate material in the production of plastic products and is utilized as one of the basic raw materials in the production of various chemicals. Ethyl Benzene is a good solvent which finds its application in different sectors like in the rubber industry, ink industry, and other related industries. The global demand for ethyl benzene is growing wherein the Asia Pacific region has retained more than 47% of the market. China is the largest consumer and producer of ethyl benzene, who is having an ethyl benzene market share of 28%.
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The knocking of the internal combustion (IC) engines is reduced effectively with the addition of ethyl benzene in gasoline. The octane rating of the fuel is also raised above its normal levels making it one of the efficient fuels available. The increasing demand for gasoline across the world has initiated the development of effective fuels. This demand for newer fuels is successfully being met by the addition of ethyl benzene to gasoline which in turn is driving the ethyl benzene market. It has growing applications in various fields that are leading to rising demands in respective fields. The recovery of natural gas from beneath the earth’s surface is accomplished smoothly by the utilization of ethyl benzene. The fuelled demand for natural gas is thereby fostering the ethyl benzene market globally.
The human body suffers from perilous impacts due to long and over exposure to ethyl benzene. Ethyl benzene traces are usually found in the soil and air as it easily moves from soil and water. The impacts of ethyl benzene have impelled environmental regulatory bodies to implement regulated usage of ethyl benzene in various materials. The implemented and impending regulations are together hampering the market growth globally. The rising prices of ethyl benzene are one of the major inhibitors to the market. Ethyl Benzene is used on a large scale in the production of polystyrene and due to the growing market of polystyrene, the ethyl benzene market is expected to experience new and wide opportunities in the upcoming five years. The growing applications in different industries would equally fuel the demand for ethyl benzene globally.
Some of the key players of the market include, Qufu Xindi Chemical Research Limited Company, Tianjin Jixin Industrial & Trade Co., Ltd., Zhejiang Weishi Biotechnology Co., Ltd., and some others.
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This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
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