Growing demand for various kinds of 1,4-diisopropylbenzene from numerous industries, particularly chemicals and electrical & electronics industries, is expected to drive the 1,4-diisopropylbenzene market between 2021 and 2031, according to a recent research analysis by Future Market Insights (FMI).
According to the research, the 1,4-Diisopropylbenzene market is expected to rise at a CAGR of 3.8% during the next five years.
Because of the use of 1,4-Diisopropylbenzene as a solvent in paints, synthetic lubricants, and polymers used in the vehicle and construction industries, the market is benefiting from the increased demand for synthetic lubricants and polymer goods.
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.
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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 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.
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1,4-Diisopropylbenzene Market by Category
By Product Type:
- Standard
- High Purity
By Application:
- Paints & Coatings
- Electrical & Electronics
- Chemical Intermediates
- Solvents
- Graphic Arts
- Others
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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