APAC Tetraethyl Benzene Market size is anticipated to cross USD 243.1 thousand by 2027, developments, according to a latest forecast report by Graphical Research. The market is driven by increasing production of thermoplastics, coatings, and strong demand from the active pharmaceutical ingredients market.
Some of the key findings of the tetraethyl benzene industry report include:
- Growing pharmaceutical industry is reflecting promising growth indicators.
- Rise in the demand for pharmaceutical ingredients, escalating research activities, and surging downstream products production, stimulating the industry growth.
- The COVID-19 outbreak had a severe impact on the market growth which resulted in the halted trading operations and disrupted supply chain across the region.
- Tetraethyl benzene manufacturers are decentralizing the raw material procurement process and approaching a range of suppliers to maintain continuity in production operations.
The growth of the Asia Pacific tetraethyl benzene market is majorly due to the increasing demand for pharma ingredients, downstream product production, and developments in the field of research for the synthesis process. Since tetraethyl benzene is widely used in the production of pyromellitic dianhydride, the extensive usage of pyromellitic dianhydride in the manufacturing of several thermoplastics, such as epoxy resins, plasticizers, polycarbonates, and polyester has the potential to offer sustainable growth prospects. Moreover, the usage of tetraethyl benzene in the production of high-performance coatings is another factor significantly contributing to the growing market size.
Pyromellitic dianhydride has a range of several other applications primarily due to its high-temperature resistance, thermal property, curing ability, oxidative stability, and noteworthy mechanical properties. The compound is also used for insulation materials, powder coatings, corrosion inhibitor, phenolics stabilizer, and electro -fax toner. The broad application flexibility of the product is fueling the production of tetraethyl benzene.
Browse detailed statistical insights from the report, “Asia Pacific Tetraethyl Benzene Market Size, By Application (Pharmaceuticals intermediates, Downstream products production, Research applications), Research Report, Country Outlook, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 - 2027” along with the table of contents (ToC) @
Tetraethyl benzene is used for several pharma intermediates, which is also a major driver for industry growth. The applications include in N1, N1, N2, N2-tetraethyl and 1,2-Benzenedicarboxamide. Moreover, the emergence of innovative delivery options, growing demand for active pharmaceutical ingredients, and progress in the field of personalized medicines are further creating lucrative growth opportunities for the market.
The pharmaceutical industry in the Asia Pacific region is a developing sector and is showing promising growth rates. The pharmaceutical application segment accounted for more than 23% market share in 2019.
The outbreak of the COVID-19 pandemic had a toll on the manufacturing operations owing to restricted supply chain and trading operations. Therefore, tetraethyl benzene manufacturers are approaching several raw material suppliers for decentralization of the procurement procedure. Some of the key manufacturers involved in the market include Angene International, LEAP CHEM Co., Ltd., AHH Chemical Co., Ltd., BOC Sciences, Henan Tianfu Chemical Co., Ltd., SAGECHEM, Zibo Hangyu Import & Export Co., Ltd., and Antimex Chemical Limited.
The APAC tetraethyl benzene market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2016 to 2027 for the following segments:
Asia Pacific Market, By Application
- Pharmaceuticals intermediates
- Research applications
- Downstream products production
The above information has been provided for the following countries:
- South Korea
- Rest of Asia Pacific