Market Scope
Market Research Future (MRFR) assessed the global diisopropyl benzene market 2021 along the review period till 2023. As per the MRFR study, the global diisopropyl benzene market is expected to surge at decent CAGR in the study period. By 2023, the global diisopropyl benzene market is expected to earn considerable revenue.
Market Drivers and Restrains
Diisopropylbenzene is soluble in acetone, ether, alcohol, and benzene but insoluble in water. This property of diisopropyl benzene finds numerous industrial applications. Diisopropylbenzene is prepared from the cumene synthesis in closed systems with diesel, gasoline, and other hydrocarbon fuels. In addition, it is used as an intermediate in the synthesis of synthetic stabilizers, lubricants, hydroperoxides, and polymers that has high commercial and industrial consumption. Its extract solution is the separation of trivalent lanthanides from trivalent actinide cations that finds application in the reprocessing of nuclear fuel. The surge in demand for diisopropyl benzene in several nuclear facilities as it remains one of the lucrative scope attracting huge funds from both government and private organizations can contribute to the market upsurge in the near future.
Market Segmentation
The segment analysis of the global diisopropyl benzene market is based on isomers and application. The isomers-based segments of the diisopropylbenzene market are m-diisopropylbenzene, o-diisopropylbenzene, and p-diisopropylbenzene. The increasing consumption of m-diisopropyl benzene for commercial applications can support the expansion of the market in the review period. The application-based segments of the diisopropyl benzene market are synthetic lubricants, stabilizers, hydroperoxides, and polymers others. The rise in the supply of diisopropyl benzene as a lubricant in both industrial and commercial arenas can favor the market upsurge in the review period. The growing utility of hydroperoxides in the bleaching industry can support the market rise in the years to come. Polymers have multiple applications. Engineers are developing polymers with brilliant strength and features that can provide robust solutions in the automotive, building, aerospace, medical, packaging, and consumer goods sectors. Thus, the polymer segment is expected to rise at a high pace in the near future.
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Regional Study
In the Asia Pacific region, the diisopropyl benzene market is expected to gain considerable revenue by 2023. The increasing consumption of diisopropyl benzene by the expanding polymers industry across countries, such as; South Korea, and other Asian countries can underpin the growth of the regional market. The rise in the application of diisopropyl benzene as stabilizers, synthetic lubricants, and hydroperoxides among others across different industries can support the expansion of the market in the near future. The market in China is expected to earn high profits for the regional market owing to the expansion of the global population, rapid industrialization, and surge in urban migration. The large scale production of diisopropyl benzene and isomers owing to their high consumption can prompt the market expansion in the near future The diisopropyl benzene market in the region is expected to rise at a decent pace as the utility of diisopropyl benzene and its isomers, such as; p-diisopropyl benzene, o-diisopropyl benzene, and m-diisopropyl benzene, is observed to rise in the years to come. The increasing consumption of synthetic lubricants across the APAC region can benefit the market in the region following Korea, Japan, Taiwan, and India, which, in turn, can support the expansion of the regional diisopropyl benzene market in the years to come. The rise in the demand for the product in the automotive industry can add to the expansion of the regional market. Rise in consumer awareness in regions, such as; Japan and Taiwan, can profit the market in the years to come. The upsurge in the demand for synthetic lubricants in BRICS nations can drive the regional market by 2023. The increasing demand for synthetic lubricants for better productivity can favor the APAC market.
In North America, the diisopropyl benzene market rise can be attributed to the similar growth induces in the Asia Pacific. Likewise is applied for Europe. In the Middle East region, South Africa, and Latin America among other emerging regions, the diisopropyl benzene market is expected to due to garner considerable profit. The rise in the application of diisopropyl benzene as stabilizers, synthetic lubricants, polymers, and hydroperoxides can promote the market in the years to come.
Key Players
TCI (Shanghai) Development Co., Ltd. (China), CHMA Chemical Technology (Shanghai) Co., Ltd (China), and Hangzhou Yuhao Chemical Technology Co., Ltd. (China) are some renowned companies that are operating in the global diisopropyl benzene market. MRFR analysts provide high-quality and reliable market research insights that aid our clients to make proper decisions. The report on the diisopropyl benzene market that is published by MRFR provides in-depth insights into products, technologies, services, end-users, applications, and market players of the market.
