1,4-Diisopropylbenzene Market By Product Type(Standard, High Purity), Application(Paints & Coatings, Electrical & Electronics, Chemical Intermediates, Solvents), & Region – Forecast 2021 - 2031
1,4-Diisopropylbenzene Market - Analysis, Outlook, Growth, Trends, Forecasts
- August 2021
- 250 pages
- Chemicals & Materials
1,4-Diisopropylbenzene Market Snapshot
[250 Pages Report] 1,4-Diisopropylbenzene market size is expected to hit US$ 110.7 Mn in 2021. Despite a year of subdued growth amid COVID-19 outbreak, demand is expected to accelerate at 4.1% between 2020 and 2021.
Eastman Chemical Company, Goodyear Chemicals, Biosynth Carbosynth, and TCI Chemical are some of the top market players. Together they are expected to account for 51.9% of overall sales in 2021.
Key Points Covered in 1,4-Diisopropylbenzene Market Survey
- Market estimates and forecast 2016-2031
- Key drivers and restraints impacting market growth
- Segment-wise, Country-wise, and Region-wise Analysis
- Competition Mapping and Benchmarking
- Brand share and Market Share Analysis
- Key Product Innovations and Regulatory Climate
- COVID-19 Impact on 1,4-Diisopropylbenzene market and How to Navigate
- Recommendation on Key Winning Strategies
2016-2020 1,4-Diisopropylbenzene Market Outlook Compared to 2021-2031 Forecast
Driven by the rising demand from various industries, the 1,4-Diisopropylbenzene market registered high growth during 2016-2020. However, owing to nationwide lockdowns and discontinuity in supply chain activities, demand for 1,4-Diisopropylbenzene was muted form several end-use industries.
Despite threats posed by the pandemic, 1,4-Diisopropylbenzene market is expected to record a CAGR of 3.8% between 2021 and 2031, in comparison to growth at a CAGR of 1.0% during reported during 2016-2020.
Key factors driving the interest in the market includes growth in automotive and construction industries. Both industries exhibit high demand for polymers and synthetic lubricants. 1,4-diisopropylbenzene is primarily used in synthetic lubricants, polymers, peroxides and others.
Hence with the growth in automobile and construction industry, the demand for polymers and synthetic lubricants is expected to rise at a remarkable growth rate. This in turn is expected to create ample opportunities for the 1,4-Diisopropylbenzene manufacturers.
Moreover, significant growth potential exists in emerging economies such as those in Asia Pacific. There is considerable demand for 1,4-Diisopropylbenzene-derived products in countries such as India, China and Southeast Asian countries owing to growing economies and on-going infrastructure development activities. Since the chemical industry is a key sector enabling growth, investments in product development by key manufacturers in electronics, pharmaceuticals, cosmetics and other industries will lead to an increase in the consumption of 1,4-Diisopropylbenzene.
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What are the Roadblocks to Growth of 1,4-Diisopropylbenzene Market?
Over the recent past, it has been observed that various end-use industries are focusing on the use of solvents that are relatively less toxic to ensure human and environmental safety. This trend may be due to stringent regulations being imposed by governments against the manufacturing and use of solvents.
Also, awareness regarding the use of harmful conventional solvents has increased steadily. The preference for cleaner and greener alternatives is thus expected to witness steady growth during the forecast period.
This factors are longstanding challenges for the 1,4-Diisopropylbenzene manufacturers and are expected to hamper the growth in demand for the next decade.
What Is the Impact Of COVID-19 Crisis On 1,4-Diisopropylbenzene Market?
Lockdown imposed across various countries negatively impacted the market. Limited production and transportation-related delays owing to travel restriction created various hindrances amid the pandemic.
With the consecutive waves of the novel coronavirus tightening its noose, treatment of other ailments were either affected or delayed. This also had a negative impact on the market.
End-users of 1,4-Diisopropylbenzene such as paints and coatings, automobiles, and electrical and electronics have been impacted heavily. Owing to this demand for 1,4-Diisopropylbenzene was approximately muted over some recent period. The demand is recovering at a faster pace from early 2021 after re-opening of nationwide lockdowns and leniency in governmental regulations.
What is expected growth rate of 1,4-Diisopropylbenzene market in U.S.
North America is predicted to remain one of the most attractive markets during the forecast period, according to Future Market Insights. In 2021, the U.S. 1,4-Diisopropylbenzene market is projected to grow by 4.0% year on year, bucking initial skepticism about how the market would perform during a global pandemic. Across the whole of North America, total sales of 1,4-Diisopropylbenzene reached 16.7 Million in 2021.
Population across the country have high disposable income and country spending towards infrastructure development is also high. This factors promotes the demand for Synthetic Lubricants and Polymers in the country which in turn creates robust opportunities for 1,4-Diisopropylbenzene.
Why is Demand for 1,4-Diisopropylbenzene Increasing in the Germany?
Germany is one of the key countries for manufacturing of automobiles across the globe. Germany is anticipated to consume almost 20% of European 1,4-Diisopropylbenzene volume owing to increasing demand from the automotive industry.
Germany has been exhibiting high demand for polymers and synthetic lubricant used in automobiles which in turn has elevated the demand for 1,4-Diisopropylbenzene in the country.
Moreover, manufacturers in the country have access to cutting edge technologies and methods which provides an additional advantage to them.
What is the market outlook for 1,4-Diisopropylbenzene in China?
Construction sector in China has been exhibiting exceptional growth. The country’s large population and industrialization drives have created conducive environment for the expansion of the industry.
Moreover, China has extraordinary presence of automobile manufacturing. Coupled with this, presence of a huge population has fuelled the demand for polymers and synthetic lubricants. To cater the huge demand, the country consumes a huge portion, approximately more than 30.6% of 1,4-diisopropylbenzene volume.
Further, the strong presence of the chemical industry has propelled the growth of the 1,4-Diisopropylbenzene market. Continued application in paints and coatings and adhesive industries will drive growth in China.
Why is the sales of 1,4-Diisopropylbenzene increasing in India?
India is a fast growing economy, and construction and automotive sectors have significant contribution towards the country’s GDP growth. Rise in infrastructure development activities and automobile sales in the country owing to growth in disposable income of consumers are expected to fuel the demand for polymers and synthetic lubricants.
This in turn is expected to fuel the demand for 1,4-Diisopropylbenzene in the country. The Indian 1,4–Diisopropylbenzene market is anticipated to create incremental $ opportunity of US$ 1.3 Mn during the forecast period 2021-2031
What is driving Sales of High Purity 1,4-Diisopropylbenzene?
Revenue in the high purity segment of the 1,4-Diisopropylbenzene market is estimated to grow a robust 3.5% year over year in 2021. Demand in the standard segment is expected to increase 4.2% between 2020 and 2021, giving the combined 1,4-Diisopropylbenzene market year-over-year growth of 4.1% in 2021, according to the FMI report titled.
High purity 1,4-Diisopropylbenzene is used in laboratory & research purposes and in the production of many vital chemicals. This is one of the chief reasons behind their increasing demand.
Who is the Leading End User of 1,4-Diisopropylbenzene?
1,4-Diisopropylbenzene is widely used as intermediate in the production of many chemicals. Hence, approximately around 34% of 1,4-Diisopropylbenzene volume is used in chemical production.
1,4-Diisopropylbenzene is used in manufacturing many vital chemicals. This chemicals synthesized using 1,4-Diisopropylbenzene have variety of applications, which has been contributing towards the overall expansion of the market.
Manufacturers are focusing on expansion as key growth strategy. Considering this, strategic collaborations and partnerships are highly sought-after among companies, seeking to expand their footprint. For example,
- Biosynth and Carbosynth merged in 2019 to share the resources with the aim to cater to the rising demand.
Several companies also are engaging in expanding production capacities cater to the growing demand for the product during the assessment period.
Scope of Report
Historical Data Available for
USD Million for Value and Tons for Volume
Key Regions Covered
North America, Latin America, Europe, East Asia, South Asia & Pacific, and the Middle East & Africa
Key Countries Covered
US, Canada, Germany, U.K., France, Italy, Spain, BENELUX, Russia, China, Japan, South Korea, India, ASEAN, Australia & New Zealand, GCC Countries, Turkey, Northern Africa, and South Africa
Key Segments Covered
Product Type, Application, and Region
Key Companies Profiled
Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization & Pricing
Available upon Request
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