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North American Tetraethyl Benzene Market revenue to cross $143.5 thousand by 2027
Published Date: 2021-02-18
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North American Tetraethyl Benzene Market size is set to reach USD 143.5 thousand by 2027, according to a latest forecast report by Graphical Research.
Advancements in research activities for the synthesis process, growing demand for pharma ingredients, and downstream products are expected to have a sensible growth impact on the North America tetraethyl benzene market. Tetraethyl benzene finds its application in the production of vinylbenzenes, benzene carboxylic acids, and pyromellitic dianhydride. Hence, the growing usage of pyromellitic dianhydride for the fabrication of a range of thermoplastics, such as plasticizers, epoxy resins, polyesters, and polycarbonates is expected to present sustainable growth opportunities for market players. Additionally, tetraethyl benzene is also used for the manufacturing of high-performance coatings, which is likely to further propel the market demand.
Some of the key findings of the market report include:
- Increasing research activities on tetraethyl benzene, demand for pharma ingredients, and downstream products are likely to have a positive impact on the market growth.
- Product manufacturers are more focused on decentralization of raw material procurement as dependence on any particular supplier can lead to interruptions in the production schedules.
- The continuing pandemic caused by COVID-19 has affected regional production owing to lockdowns and disrupted supply chains across North America. However, manufacturers are adapting to strategies to cope up with the increasing demand.
Browse detailed statistical insights from the report, “North America Tetraethyl Benzene Market Size By Application (Downstream products production, Research applications, Pharmaceuticals intermediates), Research Report, Price Trends, Growth Prospects, Competitive Industry Share & Forecasts, 2021 – 2027” along with the table of contents (ToC) @
The strong demand for pyromellitic dianhydride can be accredited to its high-temperature application, curing, excellent thermal, oxidative stability, and excellent mechanical properties. It can also be used in powder coatings, insulation solution or material, phenolics stabilizer, corrosion inhibitor, and electro-fax toner. Therefore, with comprehensive end-use applications, pyromellitic dianhydride is likely to drive the demand for tetraethyl benzene.
The pharmaceutical industry has also been a major growth driver for the North American tetraethyl benzene market. Tetraethyl Benzene is used in various pharmaceutical intermediates as an ingredient such as 1,2-Benzenedicarboxamide, N1, N1, N2, N2-tetraethyl. Additionally, the increasing active pharmaceutical ingredients owing to the emergence of novel & innovative delivery systems and the evolution of personalized medicines will probably further stimulate the growing demand for advanced tetraethyl benzene.
The pharmaceutical industry in the U.S. is highly organized and is growing steadily. In 2020, the pharmaceutical application for tetraethyl benzene held over 21% market share and has showcased a steady growth of 2.6% during the forecast period.
Moreover, in the wake of the pandemic caused by the COVID-19 disease, prominent manufacturers are more inclined towards decentralization of key raw materials. The initiative has been taken to avoid or mitigate any disruption in the supply chain affecting the production capabilities of manufacturers. Some of the key manufacturers involved in the market include ChemSampCo, LLC, BOC Sciences, and others.
The North American tetraethyl benzene market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilograms and revenue in USD Thousand from 2017 to 2027 for the following segments:
North America Market, By Application
- Downstream products production
- Research applications
- Pharmaceuticals intermediates
The above market analysis is provided for the following countries: