Asia Pacific Tetraethyl Benzene Market Size to Surpass USD 243.1 Thousand by 2027

Author : Ronak Bora | Published Date : 2021-08-31 

By 2027, Asia Pacific tetraethyl benzene market size is slated to surpass $243.1 thousand, facilitated by the favorable regulatory scenario and availability of cheap labor in the region.

The upsurge in medical research activities due to the COVID-19 pandemic is expected to influence Asia Pacific tetraethyl benzene market trends through the next six years. Although the pandemic took a toll on the Asian manufacturing sector, the stabilization of the regional economy is certain with the initiation of COVID-19 vaccine drives across the region. During 2020, the lockdown restrictions and surge in the number of COVID-19 cases disrupted the supply chain and affected trading operations to a great extent, leading to losses.

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Numerous tetraethyl benzene manufacturers in Asia are decentralizing the raw material procurement procedure by directly approaching suppliers. LEAP CHEM Co., Ltd., SAGECHEM, Angene International, Antimex Chemical Limited, and AHH Chemical Co., Ltd., are some leading tetraethyl benzene manufacturers and suppliers in Asia Pacific.

Some key factors driving the Asia Pacific tetraethyl benzene market forecast are discussed below:

Growing need for active pharmaceutical ingredients

Thanks to the upsurge in drug demand due to the outbreak of the COVID-19 pandemic, the product use for research applications has seen a robust growth. The tetraethyl benzene industry share from the pharmaceutical segment in Asia Pacific is projected to grow at more than 2.7% CAGR through the forecast timeframe.

Although the Asia Pacific pharmaceutical sector has been thriving since before the pandemic, the post-pandemic scenario can generate fresh opportunities. During 2019, the pharmaceutical sector held over 23% of the total Asia Pacific tetraethyl benzene market. The growth can be assigned to the expanding need for active pharmaceutical ingredients, development of novel delivery solutions, and emergence of personalized medicine.

China to represent maximum production share

Through 2027, China tetraethyl benzene industry size is slated to augment significantly and represented over 28.5% of the total APAC market in the past. South Korea and China together accounted for the largest tetraethyl benzene production and supply volume in Asia. The growth of the Chinese industry can be attributed to the boom in the pharmaceutical sector, particularly in the wake of the COVID-19 pandemic.

With the demand for pharmaceutical intermediates growing, the product use is expected to rise substantially across the Asia Pacific tetraethyl benzene market. Some of the major pharmaceutical applications of the product are 1,2-benzenedicarboxamide and N1, N1, N2, N2-tetraethyl production.

Extensive range of pyromellitic dianhydride uses

Tetraethyl benzene is widely utilized in the production of pyromellitic dianhydride. Pyromellitic dianhydride is a versatile compound that finds application in numerous areas due to its favorable properties. These include oxidative stability, curing ability, high temperature resistance, mechanical strength, and thermal properties. As the compound is seeing increasing use as a corrosion inhibitor, electro fax toner, insulation material, phenolics stabilizer, and in powder coatings, the Asia Pacific tetraethyl benzene market is projected to gain traction through 2027.

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Pyromellitic dianhydride is extensively utilized for manufacturing a variety of thermoplastics including polycarbonates, epoxy resins, polyester, and plasticizers. The augmenting deployment of these thermoplastics across multiple industrial applications is powering Asia Pacific tetraethyl benzene market trends.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Research methodology

1.2    Market estimation & forecast parameters

1.3    List of data sources

1.3.1    Primary

1.3.2    Secondary

Chapter 2   Executive Summary

2.1    Asia Pacific Tetraethyl Benzene market snapshot

Chapter 3   Asia Pacific Tetraethyl Benzene Industry Insights

3.1    Industry coverage

3.2    Industry size and forecast, 2016 – 2026

3.3    Industry ecosystem analysis

3.3.1    Vendor matrix

3.4    Future trends

3.4.1    Innovation landscape

3.5    Raw material analysis

3.6    Regulatory norms & directives

3.7    Drivers & restraints

3.7.1    Drivers

3.7.2    Restraints

3.8    Application growth mapping

3.9    Industry analysis: Porter’s

3.10    Competitive benchmarking

3.10.1    Strategy dashboard

3.11    PEST analysis

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About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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