Tetraethyl Benzene: Introduction
- Tetraethyl benzene is an organic compound. It is a colorless solid with sweet odor. It is widely used in the production of pyromellitic dianhydride, benzene carboxylic acids, and vinylbenzene, which in turn, are widely used in the preparation of high-performance coatings.
- Tetraethyl benzene is soluble in alcohol and is used in the production of curing agents, adhesives, and coating materials. Furthermore, tetraethyl benzene structures are utilized to produce raw materials for engineering plastics such as polyimides as well as cross-linking agents for alkyd resins.
- Tetraethyl benzene is a vital product used in the synthesis of organic compounds such as pyromellitic dianhydride. Pyromellitic dianhydride exhibits important properties such as high temperature resistance, good thermal insulation, oxidative stability, and curing capabilities. The compound has a wide range of applications. It is used to make thermoplastics such as plasticizers, epoxy resins, polyesters, and polycarbonates.
Key Drivers and Restraints of Tetraethyl Benzene Market
- Tetraethyl benzene is majorly used in pharmaceutical products in the form of an important ingredient in pharma intermediates. It is being extensively adopted in the production of generic medicines. Increase in demand for pharmaceutical ingredients in various applications is expected to fuel the global tetraethyl benzene market in the next few years.
- Rise in demand for downstream products such as gasoline, waxes, petrol is expected to create significant opportunities for the tetraethyl benzene market. Increase in research & development activities pertaining to chemical testing and manufacturing of various other chemicals for enhancing final product capabilities is also fueling the application of tetraethyl benzene in downstream products.
- Rise in demand for thermoplastics such as plasticizers, epoxy resins, polycarbonates, and polyesters is driving the usage of pyromellitic dianhydride (PMDA) preparation. As a raw material for heat resistance films, resins, and coatings, PMDA is frequently used as an intermediate for polyimide-based composite materials in magnetic wire insulation, printed circuit boards, and tape automated bonding. Led by wide applications of PMDA, demand for tetraethyl benzene is anticipated to rise at a significant pace during the forecast period.
Tetraethyl Benzene: Purity Segment
- In terms of purity, the global tetraethyl benzene market can be divided into 99.00%, 96.00%, and 98.00%
- 99.00% pure tetraethyl benzene is used in the production of thermoplastics, coatings, and pharma intermediates. It is expected to account for significant share of the tetraethyl benzene market during the forecast period, due to increasing demand for 99.00% pure tetraethyl benzene in the pharmaceutical industry.
- 98.00% pure tetraethyl benzene is utilized in the manufacture of a wide range of products including benzene carboxylic acids, pyromellitic dianhydride, as well as vinylbenzene. Consequently, the strong demand for the product is supported by increasing usage of pyromellitic dianhydride for the fabrication of a wide range of thermoplastics such as polycarbonates, plasticizers, polyesters, and epoxy resins. High demand for benzene in the thermoplastics industry is driving the global tetraethyl benzene market.
Tetraethyl Benzene: Application Segment
- Based on application, the global tetraethyl benzene market can be segmented into pharmaceutical intermediates, research applications, and downstream products production
- The pharmaceutical intermediates segment is projected to gain higher share of the global market during the forecast period. A large amount of tetraethyl benzene is consumed in the pharmaceutical sector. With the emergence of complex diseases such as COVID-19, the use of tetraethyl benzene in the production of drugs to combat the disease has become more important. This is projected to boost the global tetraethyl benzene market over the next few years.
- The downstream products production segment is projected to hold key share of the global tetraethyl benzene market in the near future. Rise in usage of tetraethyl benzene in oil and petroleum industries to produce downstream products such as waxes and gasoline is projected to propel the global tetraethyl benzene market during the forecast period.
COVID-19 Impact on Tetraethyl Benzene Market
- On January 30, 2020, the International Health Regulations Emergency Committee of the World Health Organization (WHO) declared the Coronavirus disease (COVID-19) outbreak a public health emergency of international concern. Originating in China, the virus has spread to at least 214 countries and territories around the world.
- Several governments and private sector businesses are operating at a limited capacity or have ceased operations completely due to recent events surrounding the COVID-19 pandemic
- Manufacturing of various consumer goods and other products across the globe came to a halt due to the unavailability of raw materials, shortage of labor, etc. This is expected to hamper the tetraethyl benzene market.
Asia Pacific to hold Leading Share of Tetraethyl Benzene Market
- In terms of region, the tetraethyl benzene market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa
- Asia Pacific is expected to hold major share of the global tetraethyl benzene market, followed by Europe and North America, during the forecast period. This can be attributed to intensified competition and the availability of higher production capacity of coating products, medicines, and epoxy resins in Asia Pacific. Increase in demand for epoxy resins and thermoplastic solutions in various end-use industries is expected to create substantial opportunities for pyromellitic dianhydride solutions, thus driving the demand for tetraethyl benzene in the region.
- The tetraethyl benzene market in Europe and North America is projected to expand at a rapid pace in the near future. Rise in demand for generic drugs in North America and increase in demand for medicines to treat the elderly population is fostering the regional active pharmaceutical ingredient market. Demand for Active Pharmaceutical Ingredients (APIs) is increasing in Europe. This is boosting the demand for tetraethyl benzene in the region.
Key Manufacturers Operating in Tetraethyl Benzene Market
The tetraethyl benzene market was consolidated in 2020. Major players have prominent presence in developed and developing countries. Key manufacturers operating in the tetraethyl benzene market include:
- Angene International
- ChemSampCo LLC
- Antimex Chemical Limited
- Henan Tianfu Chemical Co. Ltd.
- LEAP CHEM Co. Ltd.
- AHH Chemical Co. Ltd.
- BOC Sciences
Tetraethyl Benzene: Research Scope
Tetraethyl Benzene Market, by Purity
Tetraethyl Benzene Market, by Application
- Pharmaceutical Intermediates
- Research Applications
- Downstream Products Production
Global Tetraethyl Benzene Market, by Region
- North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa