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North America Tetraethyl Benzene Market Size Worth $143.5 Thousand by 2027

Author : Ronak Bora | Published Date : 2021-08-27 

The North America tetraethyl benzene market is projected to witness substantial growth in the forthcoming years owing to soaring demand for the production of coatings, thermoplastics, and pharmaceutical products. Tetraethyl benzene is extensively used for manufacturing benzene carboxylic acids, vinylbenzenes, pyromellitic dianhydride, and high-performance coatings. A rising demand for these chemicals in recent years is expected to fuel industry growth through the coming years.

For instance, pyromellitic dianhydride has witnessed a surge in demand due to its high-temperature application, oxidative stability, curing, and excellent thermal and mechanical properties. All these traits make the composite an ideal raw material to manufacture other materials like insulation solution or material, corrosion inhibitor, powder coatings, phenolics stabilizer, and electro-fax toner.

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As a result, the growing utilization of pyromellitic dianhydride for fabricating a range of thermoplastics – such as polyesters, epoxy resins, plasticizers, and polycarbonates – is anticipated to create sustainable growth opportunities for North America tetraethyl benzene market participants.

Driven by increasing product demand in varied end-use applications, the North America tetraethyl benzene market is estimated to be valued at USD 143.5 thousand by 2027. Following are some distinguished trends that are expected to outline industry growth in coming years:

Evolving supply chain due to COVID-19

The COVID-19 outbreak has substantially hindered the expansion of the North America tetraethyl benzene market. Supply chain disruptions across the region caused by pandemic-induced lockdowns have adversely impacted market demand from downstream product applications.

However, the situation has also prompted a sudden hike in research activities and drug manufacturing focused on finding solutions to prevent or cure the COVID-19 infection. As a result, the growth of the pharmaceutical industry is speculated to create massive growth avenues for the market through the coming years.

Decentralization of raw material procurement

The ongoing pandemic has affected regional production due to worldwide lockdowns and supply chain disruptions across North America. To accommodate the increasing demand, manufacturers have adopted various effective strategies. After the COVID-19 pandemic disrupted the global supply chain severely, key manufacturers in the industry have become more inclined towards the decentralized procurement of crucial raw materials.

Manufacturers have taken such initiatives as precautions to prevent or mitigate any prospective disruptions in the supply chain that could affect their production capabilities in the future.

Growth of pharmaceutical industry

The growth of the pharmaceutical industry across the region, particularly in leading markets like the United States; that boasts about robust research activities and drug development, is expected to have a positive impact on the overall market landscape.

The pharmaceutical industry of the U.S. is a highly organized sector and is dominated by several multinational firms engaged in lucrative business activities globally. Due to the profitable pharmaceutical landscape in the U.S., the country accounted for a lion’s share of more than 68.7% in the North America tetraethyl benzene market in 2020. The regional market is also forecast to exhibit a remarkable growth rate over the analysis period.

Additionally, the ongoing development of the native pathophysiology and biotechnology sectors, coupled with advancements in therapeutic modalities, including surgery, is further consolidating the country’s pharmaceutical industry growth.

Increasing focus on research activities

Recently, there has been an upsurge in research activities pertaining to synthesis processes of tetraethyl benzene, which is expected to foster industry outlook in the coming years. Moreover, escalating demand for pharmaceutical ingredients and downstream products is expected to be lucrative for the expansion of the North America tetraethyl benzene market.

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Notably, the COVID-19 pandemic has vastly impelled interest towards research activities in North America, which is further fortified by the high presence of leading pharmaceutical manufacturers and research institutions across the region. Some leading players in the North America tetraethyl benzene market are BOC Sciences and ChemSampCo, LLC, among others.

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    North America Tetraethyl Benzene market snapshot

Chapter 3   North America 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

3.7.1.1    Increasing use of Pyromellitic Dianhydride (PMDA) in the production of thermoplastics and other coatings

3.7.1.2    Strong growth indicators in the active pharmaceutical ingredients industry globally

3.7.2    Restraints

3.7.2.1    Availability of product substitutes in the industry

3.8    Application growth mapping

3.9    Industry analysis: Porter’s

3.10    Competitive benchmarking

3.10.1    Strategy dashboard

3.11    PEST analysis

Browse complete Table of Contents (ToC) of this research report @ https://www.graphicalresearch.com/table-of-content/1645/north-america-tetraethyl-benzene-market

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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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