2.

2 Market Demand and Analysis

2.2.1 World Market Ethylbenzene Demand

In the present time, the world ethylbenzene market is expected to grow extensively due to the
increasing need for styrene generated from the dehydrogenation of ethylbenzene, to be used
by the polymer industry for the manufacture of styrene-butadiene rubber (SBR), (acrylonitrile
butadiene styrene) ABS, and polystyrene.

According to Mordor Intelligence (2020), the world market share for ethylbenzene in 2018
was dominated by the Asia-Pacific region. China, India, and Japan were largely involved in
this domination because of the expanding construction and packaging industries, as well as
necessity to utilize ethylbenzene as solvent and reagent in paint, coatings, and ink. The
increase of investments made for the public infrastructure, renewable energy, and commercial
projects have stimulated the need of ethylbenzene. Rising electric vehicles manufacturing in
the automobile industry and growth of the pharmaceutical industry have also driven the
demand for ethylbenzene.

Towards the end of 2025, the world ethylbenzene market size is likely to be valued at above
USD 30 billion (RM 12.804 billion), based on the Global Market Insights (2020).
Ethylbenzene was priced at USD 670 – 815 / tonne (or RM2859.56 – RM3478.42 / tonne) in
August 2016.

FIGURE X: Global Ethylbenzene Market from 2015-2021. (Source: A to Z Research)