Growing demand for various forms of 1,4-Diisopropylbenzene from diverse industries, particularly chemicals and electrical & electronics industries is projected to drive the 1,4-diisopropylbenzene market between 2021 and 2031, finds Future Market Insights (FMI) in a recent research study.
As per the study on 1,4-Diisopropylbenzene market is anticipated to exhibit growth at 3.8% CAGR during the coming assessment period.
The growing demand for synthetic lubricants and polymer products is benefiting the market due to the use of 1,4-Diisopropylbenzene as a solvent in paints, synthetic lubricants and polymers used in the automobile and construction industry.
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However, stringent regulations imposed on the use of synthetic chemicals that are harmful for environment and human health, coupled with shifting consumer preferences towards cleaner and greener alternatives, is expected to control the sales of 1,4-Diisopropylbenzene.
Key Takeaways from 1,4-Diisopropylbenzene Market Study
- 1,4-Diisopropylbenzene market value is expected to total US$ 110.7 Mn in 2021
- The U.S. is expected to remain a leading market, accounting for nearly 84.7% of sales in North America in 2021
- Germany, France, and Russia are expected to exhibit steady growth in demand for 1,4-Diisopropylbenzene in Europe. Among these countries, Germany is expected to remain dominant
- Application of 1,4-Diisopropylbenzene as chemical intermediate will account for maximum sales of nearly 32.6% in the market in 2021
- China is expected to remain the leading market for 1,4-Diisopropylbenzene within East Asia through the course of the forecast period
“1,4-Diisopropylbenzene application in chemical, electrical and electronics, paints & coatings, and other industries will continue driving growth prospects. In order to capitalize on existing opportunities, market players are focusing on mergers and acquisition. They also intend to expand their capacity through strategic collaborations,” said an analyst at FMI.
1,4-Diisopropylbenzene Market: Participant Insights
According to the report, Eastman Chemical Company, Sagechem, Goodyear Chemicals, Syntechem Co. Ltd. Tokyo Chemical Industry Co. Ltd., Biosynth Carbosynth among others are identified as key players in the 1,4-Diisopropylbenzene market.
Key manufacturers are focusing on introducing improvements in the 1,4-Diisopropylbenzene to gain competitive edge. Since the market is very niche, some manufacturers are investing a significant amount in research and innovation to explore various applications field and many others are adopting strategic collaborations and agreements to share investments and resources to reduce the risk and increase the revenues in the market.
Want to Know More?
Future Market Insights has published a market research report on the 1,4-Diisopropylbenzene market that contains global analysis for 2016–2020 and opportunity assessment for 2021–2031. The report provides insightful analysis of the 1,4-Diisopropylbenzene market through three different segments- by Product Type, by Application and by Region.
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1,4-Diisopropylbenzene Market by Category
By Product Type:
- High Purity
- Paints & Coatings
- Electrical & Electronics
- Chemical Intermediates
- Graphic Arts
- North America
- Latin America
- East Asia
- South Asia & Pacific
- Middle East & Africa