The global ethylbenzene market is expected to secure US$ 31 Billion while exhibiting a 3.5% growth rate during the forecast period. The market is estimated at US$ 21.3 Billion in 2021 and US$ 21.9 Billion in 2022. The growth of the market can be attributed to the extensive usage of ethyl benzene for the production of styrene. The increasing use of ethylbenzene in end-use industries such as packaging, electronics, construction, and agriculture is expected to boost the growth of the global ethylbenzene market during the forecast period. From 2015 to 2021, the market for ethylbenzene grew at a CAGR of 2.6%, closing at a value of US$ 21.3 Billion. As of 2022, the industry is likely to reach US$ 21.9 Billion. On the contrary, the increasing concerns related to ethylbenzene hazards is expected to hinder the market expansion in the coming time. In addition to it, stringent rules and regulations of various governments regarding the usage of ethylbenzene are other factors projected to hamper the industry growth in the forecast period. Key Takeaways from the Market Study •
By application, the styrene segment is expected to record an 2.9% CAGR by 2032
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By end user industry, the construction segment to expand at a 3.0% growth rate during the forecast period.
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The U.S market to garner US$ 10.7Billion and record an 7.2% CAGR from 2022-2032
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Market in China to procure US$ 2.2 Billion, expanding at a 3.1% growth rate during the assessment period
"The increasing demand of ethylbenzene for expansion of petrochemical industry across the globe is expected to drive the market in the forecast period. Also, the development of automotive, construction and packaging industries is projected to play a vital role in strengthening the market." Leading Companies Profiled in Ethylbenzene Market are •
IHS Inc.,
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International Finance Corporation,
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3E Company,
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CMO Software,