DUBAI, U.A.E /PRNewswire/ -- As per a recent market survey presented by Future Market Insights (FMI), the global 1,4 diisoprophylbenzene market value is poised to total US$ 110.7 Mn in 2021. After countering the initial impacts of the COVID-19 pandemic, the market is projected to grow at a moderate 3.8% CAGR between 2020 and 2031.
Rapid growth in the paints & coatings, automotive, and construction industries is spurring demand for polymers and lubricants. This is translating into lucrative sales prospects in the 1,4 diisoprophylbenzene market.
The novel coronavirus outbreak dampened growth prospects for global market due to restrictions imposed to contain the spread of the virus. However, FMI has projected a steady recovery of the market during the forecast period, as sales of 1,4 diisoprophylbenze are anticipated to grow at 4.1% year-over-year in 2021.
1,4 diisoprophylbenzene is a chemical compound used for making polymers, synthetic lubricants, stabilizers, hydroperoxides, and a wide variety of other products. Increasing demand from the chemical and electronic sector is anticipated to boost sales of 1,4 diisoprophylbenzene in the forthcoming decade.
As per FMI, the U.S. is projected to dominate the North America 1,4 diisoprophylbenzene market during the forecast period. Increasing industrialization, coupled with rising disposable income and expenditure on infrastructural developments will continue fostering sales of 1,4 diisoprophylbenzene in the country.
"Application in synthetic lubricants and polymers will remain a chief growth driver for the 1,4 diisoprophylbenzene market. Considering this, market players are likely to focus on expanding their footprint across countries exhibiting high investment towards infrastructural expansion," says the FMI analyst.
- Demand for high purity 1,4 diisoprophylbenzene is anticipated to grow at a 3.5% CAGR.
- Applications of 1,4 diisoprophylbenzene will continue increasing in the chemical intermediates segment, utilizing 34% of the total volume.
- The U.S. is projected to dominate the North American 1,4 diisoprophylbenzene market, with total sales in North America reaching US$ 16.7 Mn in 2021.
- Germany is poised to witness high demand for 1,4 dissoprophylbenzene during the forecast period, holding 20% of the European 1,4 diisoprophylbenzene volume.
- China will emerge as an attractive 1,4 diisoprophylbenzene market, owing to increasing demand from the paints & coatings and automotive industries.
- The Indian diisoprophylbenzene market is projected to create an absolute 4 opportunity of US$ 1.3 Mn between 2021 and 2031.
- Japan and South Korea will collectively account for 10.8% of the total market share.
- Expansion of opportunities for application automotive and construction industries will positively shape the demand outlook for 1,4 diisoprophylbenzene.
- Product development initiatives adopted by key market players are anticipated to propel sales of 1,4 diisoprophylbenzene in the upcoming years.
Key market players operating in the global 1,4 Diisoprophylbenzene market are focusing on expanding their production facilities for increased production and improvements in the product portfolios. Owing to this, mergers, acquisitions and strategic collaborations will remain a part of lucrative growth strategies in the upcoming years. For instance:
- In 2019, Biosynth and Carbosynth entered into a strategic collaboration to share their resources to cater to the growing demand for 1,4 diisoprophylbenzene.
Leading players operating in 1,4 Diisopropylbenzene Market profiled by FMI include:
- Eastman Chemical Company
- Goodyear Chemicals
- Syntechem Co. Ltd.
- Tokyo Chemical Industry Co. Ltd.
- Biosynth Carbosynth
- Angene International
- Kanto Chemicals
- ABCR Gmbh
- BLD Pharmatech
More Insights on FMI's 1,4 Diisopropylbenzene Market
The latest market study on the 1,4 diisoprophylbenxene market by Future Market Insights gives a detailed segmentation for the forecast period of 2021-2031. In order to gain a better perspective of the global 1,4 diisoprophylbenzene market potential, its growth, trends, and opportunities, the market is segmented on the basis of:
- High Purity
- Paints & Coatings
- Electrical & Electronics
- Chemical Intermediates
- Graphic Arts
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East and Africa (MEA)
Key Questions Covered in 1,4 Diisopropylbenzene Market Report
- The report offers detailed insights into 1,4 diisoprophylbenzene market demand outlook for 2021-2031
- The market study also highlights projected sales growth for 1,4 diisoprophylbenzene market between 2021 and 2031
- 1,4 diisoprophylbenzene market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- 1,4 diisoprophylbenzene market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
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