Worldwide Ethyl benzene Market Expected To Reach $ 22.46 Billion By 2020 With A CAGR Of 4.2%

Date: 2016-09-18

Ethyl benzene is an organic compound. It is a highly flammable, colorless liquid with an odor similar to that of gasoline. This monocyclic aromatic hydrocarbon is important in the petrochemical industry as an intermediate in the production of styrene, the precursor to polystyrene, a common plastic material. In 2012, more than 99% of Ethyl benzene produced was consumed in the production of styrene. Ethyl benzene is also used to make other chemicals, in fuel, and as a solvent in inks, rubber adhesives, varnishes, and paints. Ethyl benzene exposure can be determined by testing for the breakdown products in urine.

The global Ethyl benzene market was estimated at USD$ 18.28 billion in 2015, and is anticipated to reach USD$ 22.46 billion by 2020, expanding at a CAGR of 4.2% between 2016 and 2020. 

Global ethyl benzene market is expected to expand significantly over the forecast period owing to increasing applications in styrene production which is applied in expanding synthetic rubber and other end-use industries. Ethyl benzene is majorly applied in styrene production which has   in growing polymer industry for the manufacture of SBR, ABS plastic and polystyrene.

Ethyl benzene also serves as an intermediate in the production of numerous chemicals. Growing chemical industries in emerging economies are expected to foster ethyl benzene demand in diverse applications. Coating industry extensively uses ethyl benzene for the production of paints, varnishes and lacquers. It is also used in agricultural industry as an active ingredient in pesticides production. Increasing population and corresponding food demand is expected to boost agricultural and pesticides industries.

Ethyl benzene is utilized as an additive in gasoline, which is witnessing growing popularity as an anti-knocking agent. Increasing ethyl benzene applications in natural gas extraction owing to increasing energy needs is also anticipated to drive global market over the forecast period. High octane rating makes it one of the most efficient fuel additives available worldwide. Innovative snow technology has been developed by key players of the industry, which represents economic and technological breakthrough in styrene production.

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, having a market share of 28%.
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Joanna | Executive – International Business and partner Relations
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