Market Size of Ethylbenzene Industry
| Study Period | 2019 - 2029 |
| Market Volume (2024) | 34.95 Million tons |
| Market Volume (2029) | 40.56 Million tons |
| CAGR (2024 - 2029) | 3.03 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Ethylbenzene Market Analysis
The Ethylbenzene Market size is estimated at 34.95 Million tons in 2024, and is expected to reach 40.56 Million tons by 2029, growing at a CAGR of 3.03% during the forecast period (2024-2029).
The market was negatively impacted by COVID-19 in 2020. However, the market recovered significantly in the 2021-22 period, and the construction and automotive manufacturing activities have reinstated the demand for ethylbenzene-based polymer and other products, including automotive dashboards, exterior panels, styrene-acrylic emulsions, solvents and reagents for paints and coatings, and others. The pandemic had increased the demand for packaging from the food and e-commerce industries, thereby stimulating the demand for the market studied.
- The increasing demand for styrene from various end-user industries and the increasing usage of ethylbenzene in the recovery of natural gas are expected to drive the market's growth.
- On the other hand, strict rules about using ethylbenzene are likely to slow the growth of the market that was studied.
- Ethylbenzene application as a solvent and reagent in the production of various products, such as paints and coatings, adhesives, and cleaning materials, will likely provide new growth opportunities for the market.
- Asia-Pacific dominated the market across the world, with the largest consumption coming from countries such as China and South Korea.
