Sarasota, FL, Aug. 08, 2016 (GLOBE NEWSWIRE) -- Zion Market Research has published a new report titled “ Ethyl benzene Market for Plastic, Electronics, Paints & Coatings, Agriculture, Rubber and Other End-user Industries: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021”. According to the report, the global ethyl benzene market was around 28,125.2 kilo tons in 2015. The global ethyl benzene market revenue accounted for USD 18.28 billion in 2015 and is expected to reach USD 23.31 billion by 2021, growing at a CAGR of around 4.2% between 2016 and 2021.
Ethyl benzene is benzene derived naturally from coal tar and petroleum. Ethyl benzene is primarily used in the manufacturing of styrene. Almost all of the ethyl benzene manufactured is used for the production of styrene which is used in end-user industries such as plastic, electronics, paints & coatings, agriculture, rubber and others.
Browse 30 Market Tables and 20 Figures spread through 110 Pages and an in-depth TOC on "Ethyl benzene Market - Global Size, Shares, Trends, Segment & Forecast to 2021”
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The global ethyl benzene market is expected to witness moderate growth over the forecast period on account of increasing demand from plastic industry. Increasing population and corresponding food demand with limited cultivable land is expected to enhance agricultural and pesticides industries. Rising demand for ethyl benzene from natural gas extraction application sector is another key factor expected to fuel the market growth within the forecast period. Ethyl benzene is used as an additive in gasoline, which growing popularity as an anti-knocking agent. High octane rating of ethyl benzene leads most efficient fuel additives globally. Short term (acute) toxicity of ethyl benzene is low. However, long-term exposure to ethyl benzene negatively affects the human body; as a result of it governments have set stringent regulations to control ethyl benzene applications. This is expected to curb the growth of ethyl benzene market over the years.
Asia Pacific is expected to be the fastest regional segment for the ethyl benzene market within the forecast period. Asia-Pacific was largest consumer of ethyl benzene in 2015. Asia Pacific region accounted for more than 45% share of global ethyl benzene market. China and South Korea were the major consumers of ethyl benzene in Asia-Pacific in 2015. China is the largest consumer and producer of ethyl benzene. Chinese market has recovered in last few years and the ethyl benzene market is expected to grow at a healthy CAGR during the forecast period.
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North America market is expected to grow as a result of increasing investment in petrochemical projects as a result of increasing usage of shale gas. The domestic demand for base chemicals as well as specialty chemicals has increased tremendously after recovering from economic recession while heavy investment is expected to take place in new manufacturing projects which include energy, chemicals, etc. The U.S. has been one of the major importer for ethyl benzene, while Canada is expected to be the major exporter of ethyl benzene. Industrial expansion of Brazil is expected to increase the demand for ethyl benzene in Latin American region during the forecast period.
Europe is also expected to contribute to the global ethyl benzene demand, as a result of rising ethyl benzene applications in synthetic rubber and polymer industries. Western Europe accounted for about 15% of the global capacity for ethyl benzene market in 2015. Increasing demand for styrene in the Middle East especially from Arab Gulf region and Turkey is also expected to contribute for the global ethyl benzene demand.
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Some of the key players of the market include, BASF SE, BP PLC, The Dow chemical company, CPCC, CNPC, TOTAL S.A, SABIC, Exxon Mobil Corp, Jx Nippon Oil and Energy group, Royal Dutch Shell Plc, Qufu Xindi Chemical Research Limited Company, Tianjin Jixin Industrial & Trade Co., Ltd., Zhejiang Weishi Biotechnology Co., Ltd., and others.
This report segments the global ethyl benzene market as follows:
Global Ethyl Benzene Market: End-user Segment Analysis
- Plastic
- Electronics
- Paints & Coatings
- Agriculture
- Rubber
- Others
Global Ethyl Benzene Market: Regional Segment Analysis
- North America
- U.S.
- Europe
- Germany
- UK
- France
- Asia Pacific
- China
- Japan
- India
- Latin America
- Brazil
- Middle East and Africa
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