New York, NY -- (SBWIRE) -- 12/24/2020 -- Ethylbenzene market is forecast to register a growth rate of 3.3%, exceeding USD 27.74 Billion in terms of revenue by 2027. It is used in the preparation of styrene, which is further used in the manufacturing of plastic. It is present in inks, carpet glues, gasoline, paints, products of tobacco, and also insecticides. It is used to reduce early combustion of fuel in high-pressure engines and to increase the octane level of fuel which increases the pressure and temperature at which the fuel will burn on its own, thus increasing its efficiency. Styrene also finds extensive application in strengthening military armours
Get a Sample copy of the Report @ https://www.reportsanddata.com/sample-enquiry-form/2436
Market Drivers
The primary factor by which the market is growing is the demand of gasoline all over the world. It has led to the adoption of cost-efficient fuels, which is favoring market growth. Products made from styrene have many benefits which include toughness, flexible design, economy, high performance, production simplicity, safety measures and good hygiene. It provides high performance in watercraft and boats. It is used in the reduction of coal plant emissions, cushioning of the bicycle helmets and also in the improvement of the parts which are damaged in the automobiles.
Further key findings from the report suggest
By application, styrene contributed to the largest market share in 2018 and is expected to grow at a rate of 3.4% in the forecast period. The high demand for styrene across the globe is owing to the growth of the packaging and construction industry, which has resulted from the growing demand for consumer goods and infrastructure facilities, particularly in developing regions such as Asia Pacific.
By industry vertical, the packaging industry dominated the market in 2018 and is estimated to grow at a rate of 2.8% in the forecast period. Polystyrene, a polymer of styrene, finds usage in the packaging industry as it is lightweight, strong in compression and thus safeguards delicate objects in case of being crushed or dropped. Also, it is a very good insulator, which enables it a strong electrostatic attraction to other objects, causing it to stick to things easily.
By distribution channel, offline channel held a larger market share in 2018.
Key participants include Chevron Philips Chemical Company, LyondellBasell Industries Holdings Limited, Versalis, Synthos, Carbon Holdings, Tianjin, Jixin, Industrial & Trade Co. Ltd., Changzhou Dohow Chemical Co. Ltd., Honeywell, Westlake Chemical Corporation, and Dow Chemicals, among others.
For the purpose of this report, Reports and Data have segmented the global ethylbenzene market on the basis of application, industry vertical, distribution channel, and region:
Application Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Styrene
Gasoline
Natural Gas
Asphalt
Naphtha
Others
Access Full Report Description, TOC, Table of Figure, Chart, etc. @ https://www.reportsanddata.com/report-detail/ethylbenzene-market
Industry Vertical Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Packaging
Electrical & Electronics
Building & Construction
Consumer Products
Others
Distribution Channel Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
Online
Offline
Regional Outlook (Volume, Kilo Tons; 2016-2027 and Revenue, USD Million; 2016-2027)
North America
Europe
Asia Pacific
Latin America
MEA
Regional Analysis
The highest market share in the market was held by Asia Pacific. China had the largest market share with respect to consumption in the region. Europe is expected to witness a growth rate of 2.9% in the forecast period due to the high product demand from the automotive sector in the region.
Request customization of the report @ https://www.reportsanddata.com/request-customization-form/2436
About Reports and Data
Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help client's make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Products, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors. For more information, visit www.reportsanddata.com.