Ethyl benzene is a naturally occurring, clear and flammable liquid with an odour akin to gasoline. Ethyl benzene is found in crude petroleum streams. It is produced for commercial use by combining benzene and ethylene. Its most notable application is as a key component of aviation, diesel, and automotive fuels. Besides, it is a key component of mixed xylenes which are used as solvents for paint removers and thinners, spray paints, coatings, wood stains and varnishes along with some agricultural applications. Moreover, the ethyl benzene application pool further extends as an intermediate in the production of styrene and as a precursor of polystyrene in the petrochemical industry. Polystyrene also has applications in manufacturing the packaging of consumer goods. All these factors are creating positive growth prospects for the global ethyl benzene market.
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Paced Demand for Ethyl Benzene in Styrene Production to Amplify Growth Trajectory
The applications of styrene are numerous and it includes the manufacturing of synthetic rubber and acrylonitrile-butadiene-styrene (ABS). Ethyl benzene is a key component in the manufacturing process of styrene. The growing sales of smartphones are increasing the number of electronics manufacturing plants, thereby fuelling the demand for ethyl benzene. The use of styrene has also increased in the construction sector owing to its capability to develop gloss, adhesion, and resistance to water in building and deck enamels. In addition, styrene-based polymers are also used in several end-user industries such as agriculture, construction, and petrochemicals. The cumulative force of these factors is stimulating paced growth of the global ethyl benzene market.
Increasing Usage of Ethyl Benzene as Paint Solvent to Prolong Market Expansion
Ethyl benzene also functions as a paint solvent and is considered a vital component in motor fuels. Such functional properties make it a great ingredient for making thinners, paint remover solutions, and household detergents. The accelerated demand from these end-use industries is creating remarkable shifts in demand for ethyl benzene. Meanwhile, the growing investments in infrastructure are further facilitating the expansion of the paint industry. Moreover, the increased expenditure on aesthetics across commercial and residential domains is projected to create new revenue streams in the coming years. To this end, the increasing use cases of ethyl benzene are boding well for the growth of the global ethyl benzene market.
Asia Pacific to Dominate Ethyl Benzene Market Amidst 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.
Leading Market Entities
Some of the most competitive players in the ethyl benzene market include SABIC (Saudi Arabia), DowDuPont (US), Zhejiang Weishi Biotechnology Co. Ltd (China), Total S.A. (France), 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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