Europe Tetraethyl Benzene Market size crossed USD 102 thousand in 2020 and is projected to exhibit 2.2% CAGR from 2021 to 2027. Consistent developments in the coating & medical industry for economical & sustainable products will induce a positive effect on the product penetration.

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Europe holds a significant demand share in the global tetraethyl benzene market owing to rising product applications in the research industry. Research applications are expected to witness a significant growth due to the high usage of product for exploration of new compounds. The proliferating pharmaceutical industry in Europe will augment the market growth. The increasing demand of pharma intermediates and downstream products along with rising research on tetraethyl benzene for various synthesis process will propel the market demand. The product is used to produce pyromellitic dianhydride in a variety of thermoplastics including plasticizers, epoxy resins, polyesters, and polycarbonates.

European tetraethyl benzene consumers must rely on imports owing to the absence of large pharmaceutical intermediate production sites in the region. The high demand for active downstream products across Europe and the increasing usage of advanced technologies in the downstream products production are estimated to drive the supply for tetraethyl benzene.

The COVID-19 pandemic has substantially increased the morbidity & mortality rates, hampering the supply chain, and weakening the product demand. Stringent containment efforts to restrict the spread of the coronavirus disease have restricted mobility and supply chains, thereby increasing the cost of business. Infections reduced labor supply & productivity while lockdowns, business closures, and social distancing also caused supply disruptions.

Europe Market, By Application

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Research applications segment held around 60% Europe Tetraethyl Benzene market share in 2020. This can be attributed to increasing efforts of enhancing chemical properties of existing chemical compounds. Furthermore, private as well as government organizations in Europe spend more on research & development, which will fuel the market expansion. Increasing investments in research by various market participants to manufacture solutions in bulk quantities without comprising on the product quality or features are likely to boost product demand.

Competitive Industry Landscape

The major players operating in the Europe Tetraethyl Benzene market are Angene International, ChemSampCo, LLC, LEAP CHEM Co., Ltd., AHH Chemical Co., Ltd, BOC Sciences, Henan Tianfu Chemical Co., Ltd, SAGECHEM, Antimex Chemical Limited, and Zibo Hangyu Import & Export Co., Ltd. Antimex Chemical Limited collaborated with the Shanghai University and Zhejiang University. This strategy enabled the company to strengthen its research transfer capability.