COVID-19 Impact analysis

• Since the construction industry witnessed slowdown due to COVID-19, being the major application of ethyl benzene in this industry is expected to hamper the market.
• Due to the COVID-19 outbreak globally, most of the industry where ethyl benzene is used as major component in manufacturing is affected due to supply chain disruption.
• The lockdown situation has brought about the shutdown of various manufacturing units of ethyl benzene which brought about a decline in sales and also disrupted the supply chain.
• Automotive industry has been severely affected due to the nationwide lockdowns. It has hampered the automotive production in various countries. Being the major application area for ethyl benzene, it restricts the growth prospects for the ethyl benzene market.

Top Impacting Factors

Surge in the utilization of ethylbenzene in the creation of styrene drives the growth of the ethyl benzene market. The knocking of the internal combustion (IC) motors is decreased adequately with the expansion of ethylbenzene in fuel. The octane rating of the fuel is additionally raised over its ordinary levels making it one of the effective fuels accessible. The expanding demand for gasoline across the world has started the improvement of effective fuels. This demand for more current fuels is effectively being met by the expansion of ethylbenzene to fuel which in turn is driving the ethylbenzene market. Moreover, the developing demand for ethylbenzene for packaging and low-cost consumer product will additionally boost the demand for the ethylbenzene in the market. However, the human body experiences dangerous effects due to long and overexposure to ethylbenzene. The effects of ethylbenzene have actuated environmental regulatory bodies to carry out directed utilization of ethylbenzene in different materials. The executed and impending guidelines are together hampering the market development internationally. Acute expose of the product to people has brought about eye irritation, dizziness, and respiratory sicknesses such as chest narrowing and throat aggravation may hamper ethyl benzene market growth.

Market Trends

• In May 2020, CNOOC Oil & Petrochemicals Co. Ltd (CNOOC), Shell Nanhai B.V (Shell) and the Huizhou Government has announced a strategic cooperation agreement to expand the CNOOC and Shell Petrochemical Company (CSPC) in a joint venture in Huizhou, Guangdong Province, China.
• In January 2019, BASF and Solenis combination of their paper and chemicals plants operate under the Solenis name and offer increased sales, service and production capabilities across the globe.
• Exxon Mobil Corp. and Chevron Corp. undergoes into merger by this oil giants, this will lead to the increase in the arguing that cutting costs and improving operational efficiencies would help companies internal emvironment.

Key Benefits of the Report

• This study presents the analytical depiction of the ethyl benzene industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the ethyl benzene market share.
• The current market is quantitatively analyzed from 2019 to 2030 to highlight the ethyl benzene market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the ethyl benzene market. 
• The report provides a detailed ethyl benzene market analysis based on competitive intensity and how the competition will take shape in coming years

Questions answered in the ethyl benzene Report

• Who are the leading market players active in the ethyl benzene market?
• What current trends will influence the market in the next few years?
• What are the driving factors, restraints, and opportunities in the market?
• What future projections would help in taking further strategic steps?
• Which Government regulations might challenge the status of key regional markets?
• What are the key barriers to enter for the new players in the market?
• What value proposition should businesses aim at while making new research and development funding?