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.
Key Takeaways:
- 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.
Prominent Drivers:
- 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.
Competitive Landscape
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
- SAGECHEM
- 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:
Product:
- Standard
- High Purity
Application:
- Paints & Coatings
- Electrical & Electronics
- Chemical Intermediates
- Solvents
- Graphic Arts
Region:
- North America
- Latin America
- Europe
- 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.
Explore FMI's Extensive Coverage on Chemicals and materials Domain
Hydro fluorocarbon market: The global hydro fluorocarbon market report by FMI gives an in-depth insight on the future expansion prospects, trends and challenges that market is likely to face in the upcoming decade. Key statistics regarding key segments have been presented across prominent geographies, along with a detailed assessment of the market's competitive landscape.
Hydrotalcite market: The hydrotalcite market study published by FMI offers a comprehensive analysis and focused views on major trends expected to provide shape to future growth prospects. The report provides detailed analysis of the significant drivers, trends, challenges and opportunities prevailing for the forthcoming decade across key geographies along with competitive landscape of the upcoming decade.
Hydroxyapatite market: Future Market Insights gives a detailed segmentation on the global hydroxyapatite market with upcoming market trends, challenges and future growth dynamics across key geographies and prominent segments. The report provides a holistic approach, mapping the competitive landscape with detailed analysis on established players, new entrants, and opportunities likely to prevail across the 2021-2031 decade.
-Ends-
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.
Contact:
Abhishek Budholiya
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/1-4-diisopropylbenzene-market
Press Release Source: https://www.futuremarketinsights.com/press-release/1-4-diisopropylbenzene-market
SOURCE Future Market Insights
CONTACT: +1-347-918-3531 / + 44 (0) 20 7692 8790
© Press Release 2021
Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
