Ethylbenzene Market Size, Share, Opportunities, And Trends By Application (Styrene, Gasoline, Diethylbenzene, Natural Gas, Paint, Asphalt and Naphtha), By End-user Industry (Packaging, Electronics, Construction, Agriculture, Automotive, Other), And By Geography - Forecasts From 2024 To 2029

The ethylbenzene market is expected to grow at a compound annual growth rate (CAGR) of 3.41% during the forecast period. 

Ethylbenzene is a colorless, flammable liquid that smells like gasoline and is found in several products, including gasoline and paints. It can be found in manufactured products such as inks, pesticides, and paints. Ethylbenzene is mainly a raw material used in the production of styrene. Styrene is processed in the chemical industry to make polystyrene, which is used in large volumes in the automobile industry, the building industry, and packaging. With the growing demand in the automobile industry, including the expansion of electric vehicles, the demand for ethylbenzene will increase.

• Ethylbenzene is also a useful chemical intermediate; thus, expanding the chemical industry would likely increase the demand for the material. It is used to manufacture acetophenone, cellulose acetate, diethyl benzene, and propylene oxide. Cellulose acetate is used as the textile fibers. These multipurpose usages of ethylbenzene and increased use of styrene in the manufacturing of polystyrene, SB Rubber, SB Latex, etc., would increase the market demand for ethylbenzene.
• The 10 largest countries produce 73 percent of global chemical sales. These countries are China, USA, India, Germany, Japan, India, Ireland, South Korea, France, Switzerland, and Brazil. China leads with international ranking. Asia consumes 59% of the chemical and pharmaceutical, according to Chemdata International, VCI (Verband der Chemischen Industrie)
• According to the World Integrated Trade Solution of the World Bank, the Netherlands and Poland were the largest importers of ethylbenzene, with 26,46,28,000 Kg and 12,37,05,000 Kg imports in 2023, respectively. These imports were worth US$248.118 million and US$136.928 million for the Netherlands and Poland, respectively.
• In Germany, polystyrene in primary forms was produced 468,948 (metric tons) in 2022 and 361,176 (metric tons) in 2023. Polystyrene is mainly produced from styrene. Plastics in primary forms were produced in Germany at 33,486.858 million Euros in 2022 and 26,816.124 million Euros in 2023.
• In 2023, China's export value of basic chemical raw materials was US$95.35 billion, that of synthetic materials was US$34.08 billion, and that of rubber products was US$57.52 billion. The number suggests the size of the chemical industry in China.
• The chemical industry in Japan accounted for just over 10% of the entire manufacturing industry in terms of the number of business establishments, that is, approximately 20,000. The number of employees was approximately 950,000, product shipments valued at approximately 46 trillion yen, and added value of approximately 18 trillion yen, making this industry indispensable for the economy and employment. Japan is one of the major producers of chemicals in the world. The important strength of the chemical industry is that multiple products are produced simultaneously in one process, known as "co-products."

ETHYLBENZENE MARKET DRIVERS:

• Increasing demand for styrene

Ethylbenzene is used to produce styrene, a monomer. The reaction of monomers is used to produce Polystyrene. Styrene is one of the most versatile monomers used for plastics production. Several polymers can be manufactured from it, such as Polystyrene, Expandable Polystyrene, Styrene Acrylonitrile Resins, SB Latex, Acrylonitrile Butadiene Styrene Resins, Styrene-butadiene, thermoplastic rubbers, and methacrylate Butadiene Styrene Resins.

These are used in manufacturing several household products as well as industrial applications in the polystyrene packaging of the products for transfer and supply chain. Styrene derivatives can be applied to car components and household appliances. Expanded polystyrene is applied in both packaging and building insulation solutions. Styrenic rubbers are used to manufacture tires, hoses, toys, shoe soles, or asphalt sheets. Acrylonitrile Butadiene Styrene Resins and  Styrene Acrylonitrile Resins copolymers are used to manufacture toys, small appliances, computers, mobile phones, electrical components, and medical devices.

All these product demands will increase with the growing economies of Asia Pacific and Africa. Most products are used in daily utility, so the demand for those will remain steady in upcoming years.

• Growing use of synthetic polymers

Ethylbenzene is used in the production of styrene and synthetic polymers. Various synthetic polymers have been developed and used in everyday life and various industries. One such synthetic polymer is nylon. Nylon is used in multiple industries, such as agriculture, construction, food processing, marine, material handling, oil and gas, sawmill, and wastewater industries, where the parts of various equipment are made.

Furthermore, the automobile industry’s growth increases the demand for nylon, which is used for various purposes in automobile body parts. Applications include electrical wiring, central electrical boards, tracking headlights, headlight regulators, and lamp housings. Further, nylon engineering plastics are applied to engine covers, engine water tank covers, fans, etc.

Moreover, with the growth of the automotive industry, the application of nylon will increase. According to OICA (International Organization of Motor Vehicle Manufacturers), automobile production has increased by 10% from last year.  These figures indicate the importance of automotive vehicles and their related parts and equipment

• Multiple applications in the chemical industry

Ethylbenzene has multiple applications in the chemical industry. It is utilized as monomers, fuel agents, surface modifiers, chemical reaction regulators, intermediates, barriers, demulsifiers, solvents, etc. As a laboratory chemical, it is used as an adhesive and sealant. It is applied as a processing aid specific to petroleum production. Certain paint and coatings use it as an additive. Further, domestic products such as auto products, personal care products, pesticides, and home maintenance products also contain ethylbenzene.

Ethylbenzene Market Geographical Outlook

• The Asia Pacific region will dominate the ethylbenzene market during the forecast period.

Major economies like China, Japan, India, and South Korea dominate the Asia-Pacific region. Some of the fastest-growing emerging economies, such as ASEAN countries, are from this region. India and China remain the world's largest growing economies. These countries demand huge raw materials for fast and sustainable growth.

India imported 772,954 Kg of ethylbenzene, which was valued at about US$1,302.29 ('000) in 2023, according to the World Integrated Trade Solution of the World Bank. India's chemical industry sector ranked 6th largest producer of chemicals globally and 3rd in Asia, only after China and Japan. The sector contributes 7% to India’s GDP. 

The chemical sector in India covers 80,000 different commercial products and can be broadly classified into bulk chemicals, specialty chemicals, agrochemicals, petrochemicals, polymers, and fertilizers. Regarding agrochemicals, India ranks as the fourth-largest producer after the United States, Japan, and China. India accounts for 16-18% of the world's dyestuffs and dye intermediates production. Additionally, India imported 85.4 billion euros of chemicals and pharmaceuticals from Germany in 2023.

In China, the total import and export volume of the chemical industry was US$952.29 billion. Among them, the total export volume was US$316.53 billion in 2023.  The export value of basic chemical raw materials was US$95.35 billion. China is responsible for 40.1% of global chemical and pharmaceutical sales shares. The country has increased its share almost continuously in recent years, from 37.2 % in 2015 to 40.1% in 2023, according to the VCI (Verband der Chemischen Industrie). These numbers signify the vastness of the chemical industry in the region and its relative application in various other industries.

Ethylbenzene market restraints:

• Ethylbenzene is a highly flammable liquid and vapor, which can be fatal if swallowed and enters airways. It can cause damage to organs through prolonged or repeated exposure. It has acute and chronic toxicity in humans. It is toxic to the central nervous system. It is an irritant to mucous membranes and the eyes. These challenges cause strict regulation related to its production, supply chain, and storage, which is a major hindrance to its market growth.

Ethylbenzene market key developments:

• In June 2022, Indaver and INEOS Styrolution signed an agreement for recycled styrene monomer.  This agreement would lead to a closed loop towards a circular economy for polystyrene. It would enable INEOS Styrolution to produce polystyrene from recycled feedstock, replacing styrene monomer produced from fossil feedstock.

Ethylbenzene Market Scope:

Report Metric	Details
Growth Rate	CAGR of 3.41% from 2024 to 2029
Study Period	2019 to 2029
Historical Data	2019 to 2022
Base Year	2024
Forecast Period	2024 – 2029
Forecast Unit (Value)	USD Billion
Segments Covered	Application End-User Industry Geography
Companies Covered	MOGAS Industries, Inc. Versalis S.p.A.  Univar Solutions LLC. Exxon Mobil Corporation Fisher Scientific
Regions Covered	North America, South America, Europe, Middle East and Africa, Asia Pacific
Customization Scope	Free report customization with purchase

 

The ethylbenzene market is segmented and analyzed as follows:

• By Application
  • Styrene  
  • Gasoline
  • Diethylbenzene
  • Natural Gas
  • Paint
  • Asphalt and Naphtha
• By End-user Industry
  • Packaging
  • Electronics
  • Construction
  • Agriculture
  • Automotive
  • Other
• By Geography
  • North America  
    • USA
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Rest of the Middle East and Africa
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Rest of Asia-Pacific

1. INTRODUCTION

1.1. Market Overview

1.2. Market Definition

1.3. Scope of the Study

1.4. Market Segmentation

1.5. Currency

1.6. Assumptions

1.7. Base and Forecast Years Timeline

1.8. Key benefits for the stakeholders

2. RESEARCH METHODOLOGY  

2.1. Research Design

2.2. Research Process

3. EXECUTIVE SUMMARY

3.1. Key Findings

3.2. Analyst View

4. MARKET DYNAMICS

4.1. Market Drivers

4.1.1. Increasing demand for styrene

4.1.2. Growing use of synthetic polymers

4.1.3. Multiple applications in the chemical industry

4.2. Market Restraints

4.2.1. Strict regulations and safety associated with the use of ethylbenzene

4.3. Porter’s Five Forces Analysis

4.3.1. Bargaining Power of Suppliers

4.3.2. Bargaining Power of Buyers

4.3.3. The Threat of New Entrants

4.3.4. Threat of Substitutes

4.3.5. Competitive Rivalry in the Industry

4.4. Industry Value Chain Analysis

5. ETHYLBENZENE MARKET BY APPLICATION 

5.1. Introduction

5.2. Styrene   

5.3. Gasoline

5.4. Diethylbenzene

5.5. Natural Gas

5.6. Paint

5.7. Asphalt and Naphtha

6. ETHYLBENZENE MARKET BY END-USER INDUSTRY

6.1. Introduction

6.2. Packaging

6.3. Electronics

6.4. Construction

6.5. Agriculture

6.6. Automotive

6.7. Other

7. ETHYLBENZENE MARKET BY GEOGRAPHY

7.1. Global Overview

7.2. North America

7.2.1. United States

7.2.2. Canada

7.2.3. Mexico

7.3. South America

7.3.1. Brazil

7.3.2. Argentina

7.3.3. Rest of South America

7.4. Europe

7.4.1. United Kingdom

7.4.2. Germany

7.4.3. France

7.4.4. Italy

7.4.5. Spain

7.4.6. Rest of Europe

7.5. Middle East and Africa

7.5.1. Saudi Arabia

7.5.2. United Arab Emirates

7.5.3. Rest of the Middle East and Africa

7.6. Asia-Pacific

7.6.1. China

7.6.2. India

7.6.3. Japan

7.6.4. South Korea

7.6.5. Taiwan

7.6.6. Thailand

7.6.7. Indonesia

7.6.8. Rest of Asia-Pacific

8. COMPETITIVE ENVIRONMENT AND ANALYSIS

8.1. Major Players and Strategy Analysis

8.2. Market Share Analysis

8.3. Mergers, Acquisitions, Agreements, and Collaborations

8.4. Competitive Dashboard

9. COMPANY PROFILES

9.1. Changzhou Dohow Chemical Co. Ltd

9.2. Chevron Phillips Chemical Company LLC

9.3. Merck KGaA, Darmstadt

9.4. Dow

9.5. Guangdong Wengjiang Chemical Reagent Co., Ltd.

9.6. Honeywell International Inc

9.7. INEOS

9.8. J&K Scientific Ltd.

9.9. LyondellBasell Industries Holdings B.V.

9.10. PJSC "Nizhnekamskneftekhim"

9.11. ROSNEFT

9.12. Meryer co., ltd

9.13. MOGAS Industries, Inc.

9.14. TCI Chemicals (India) Pvt. Ltd.

9.15. Versalis S.p.A.  

9.16. Univar Solutions LLC.

9.17. Exxon Mobil Corporation

9.18. Fisher Scientific

Changzhou Dohow Chemical Co. Ltd

Chevron Phillips Chemical Company LLC 

Merck KGaA, Darmstadt 

Dow 

Guangdong Wengjiang Chemical Reagent Co., Ltd.

Honeywell International Inc 

INEOS 

J&K Scientific Ltd. 

LyondellBasell Industries Holdings B.V. 

PJSC "Nizhnekamskneftekhim" 

ROSNEFT 

Meryer co., ltd 

MOGAS Industries, Inc. 

TCI Chemicals (India) Pvt. Ltd. 

Versalis S.p.A.   

Univar Solutions LLC. 

Exxon Mobil Corporation 

Fisher Scientific