Global Ethylbenzene Market Forecasted to Gain Steady Growth at a CAGR of 4% through 2021
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Overview of the global ethylbenzene market
Market research analysts at Market Research Hub predict that the global ethylbenzene market will grow steadily at a CAGR of more than 4% by 2021. Plastics are widely used in several industries including packaging, construction, electrical and electronics, and automotive sectors. It has been observed that APAC will witness a significant increase in the demand for plastics where the demand from the construction and automotive industries drive the markets growth. Additionally, the demand from the electrical and electronic components and the interior and exterior furnishing industries will also fuel the growth of the plastics market. Polyethylene(PE), polypropylene(PP), polyvinyl chloride(PVC), polyethylene terephthalate (PET), polystyrene, and engineering plastics are the most commonly used plastics. According to this market research and analysis this increasing demand for plastics will be one of the primary growth factors for the ethylbenzene market.
The rising environmental concerns that will lead to the sustainable production method of ethylbenzene will be one of the key trends behind the growth of the ethylbenzene market. Owing to the increased focus on sustainability and the introduction of favorable government regulations for green procurement, ethylbenzene manufacturers across the globe face major challenges from the consumer goods and packaging sectors. This will in turn increase the adoption of mulch films, compostable waste bags, catering products, film packaging, and rigid packaging.
Competitive landscape and key vendors
The market is highly competitive and fragmented with the presence of numerous key players with vast geographical influence and production facilities across the globe. Vendors compete based on factors such as innovation, price, operational cost, and product quality. The increase in product extensions in terms of technological innovations will increase the competition among the vendors in this marketspace. The vendors with strong resources can withstand the market fluctuations and will acquire maximum market shares.
The leading vendors in the market are -
Chevron Philips Chemical Company
LyondellBasell Industries Holdings
The other prominent vendors in the market are Carbon Holdings, Changzhou Dohow Chemical, Shell, and Qufu Xindi Chemical Research Limited Company.
Segmentation by application and analysis of the ethylbenzene market
During 2016, the styrene production segment accounted for the major shares of the ethylbenzene market. The vendors produce various styrene-based products for different applications in various end user industries such as construction, automotive, packaging, and consumer goods. This wide range of applications of styrene products will be the major factor contributing to the growth of this market segment in the coming years.
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Geographical segmentation and analysis of the ethylbenzene market
This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market throughout the forecast period. The favorable factors such as relaxed norms, cheap labor, and wide customer base is inducing several manufacturers to shift their production facilities to this region. The increasing demand for ethylbenzene from the building and construction industry owing to the increase in infrastructural developments and the increased consumption of styrenics by the automotive industry in the emerging economies such as India, will be the major factors accounting to the growth of the ethylbenzene market in this region.
Key questions answered in the report include
What will the market size and the growth rate be in 2021?
What are the key factors driving the global ethylbenzene market?
What are the key market trends impacting the growth of the global ethylbenzene market?
What are the challenges to market growth?
Who are the key vendors in the global ethylbenzene market?
What are the market opportunities and threats faced by the vendors in the global ethylbenzene market?
Trending factors influencing the market shares of the APAC, Europe, North America, and ROW.
What are the key outcomes of the five forces analysis of the global ethylbenzene market?
Market Research Hub also offers customization on reports based on specific client requirement.
Ethylbenzene is a colorless liquid with gasoline like odor and high inflammability. It is widely used in the petrochemical industry for the production of styrene. This upcoming research report on the global ethylbenzene market offers insights into the key trends and emerging drivers influencing the growth of the chemicals and materials industry. Our market research reports for the chemicals and materials industry also follow an extensive data collection methodology and offer an analysis of fast growing market segments like paints, coatings, and pigments.
By considering the market forecast and size, surging demand for various chemicals the market research experts at Market Research Hub offer a comprehensive picture of the ethylbenzene market for the estimated period of 2017 to 2021. Furthermore, our research practices help clients develop effective growth strategies and keep pace with the continually changing market landscape. This market study also offers an intricate analysis of various services based on the interpretation of the information gathered from specific resources such as channel partners and market stakeholders. This upcoming market research report on the ethylbenzene market also covers vendors like Tianjin Jixin Industrial & Trade Co., Ltd., Qufu Xindi Chemical Research Limited Company, and Zhejiang Weishi Biotechnology Co., Ltd.
This upcoming industry report on the ethylbenzene market also considers the growth of the related chemicals market such as the nanocoatings market, which is expected project an impressive CAGR of above 25% during the forecasted period. Furthermore, to offer clients the scope to identify potential market opportunities and expand in niche markets, this report on the ethylbenzene market also covers geographies like APAC, Europe, North America, and ROW.
The upcoming industry research report for ethylbenzene market also categorizes the key drivers, major trends, as well as the imminent challenges that the paints, coatings, and pigments sector is currently experiencing. It also presents intelligence into the rapidly changing market dynamics to give clients a complete view of the forthcoming events within the chemicals and materials industry. Market Research Hub also provides deep-dive market assessments into the sectors such as olefins and specialty chemicals.
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