LONDON--(BUSINESS WIRE)--Technavio has announced the top five leading vendors in their recent global ethylbenzene market report. This research report also lists four other prominent vendors that are expected to impact the market during the forecast period.
Ethylbenzene is manufactured mainly to produce styrene monomer. Ethylbenzene is primarily used captively for styrene monomer leaving a small merchant market for the product. The demand for ethylbenzene runs equivalent to the demand for styrene, for which numerous markets such as North America and Europe have become mature.
Competitive vendor landscape
According to the report, the global ethylbenzene market is competitive with the existence of a large number of key players. These players have a vast geographical presence with large production facilities located worldwide. A sizeable number of small regional vendors also operate in the market and have significant shares. The competitive environment in the market will further intensify over the next five years with the increase in product extensions in terms of innovation in technology.
“Vendors compete based on factors such as innovation, price, operational cost, and product quality. Some of the players can drive down the market prices because their costs are lower than that of their competitor’s. In addition, financial, technological, and other resources of some of the suppliers are greater than that of their competitor’s, and such players can withstand the changes in market conditions,” says Ajay Adhikari, a lead specialty chemicals research analyst from Technavio.
The key vendors are focusing on R&D to discover new product applications to meet increasing demand for ethylbenzene. To comply with regulations set by the governments, the manufacturers are also focusing on manufacturing bio-based products.
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Top five ethylbenzene market vendors
Chevron Philips Chemical Company
Chevron Philips Chemical Company has various chemical manufacturing units within its Chevron Corporation Pascagoula Refinery. The crude ethylbenzene, benzene, and paraxylene production facilities of the refinery are operated by the Chevron Phillips Chemical joint venture.
LyondellBasell Industries Holdings
LyondellBasell Industries Holdings offers ethylbenzene under the tradename ETHYLBENZENE. It offers styrenics used in various products right from expandable foam to higher end engineering plastics. The end-use application of styrene includes cabinets for electronics, food packaging, CD holders, boat hulls, paper coatings, and interior automotive components.
Synthos S.A.
Synthos has its own styrene and ethylbenzene facility and has the ability to meet 80% of the internal demand. The company offers its own ethylbenzene to produce styrene. The company offers basic raw materials including ethylbenzene, pentane, and butadiene based on polymerization.
Total
The petrochemical business of Total consists of base petrochemicals such as aromatics, olefins, and polymer derivatives (polystyrene, polypropylene, polyethylene and hydrocarbon resins). Cos-Mar Inc. is a 50-50 joint venture between General Electric Petrochemicals and Atofina. In 2004, Atofina Petrochemicals, Inc. was renamed to Total Petrochemicals USA, Inc.
Versalis
Versalis is one of the leading manufacturers of petrochemical products, worldwide. The company is taking various green undertakings to offer environment-friendly products. Matrìca is the joint venture between Versalis and Novamont to offer bio-based chemicals and polymers products.
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Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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