The dibenzyl toluene market is projected to grow at a sluggish CAGR of 2.5% in terms of value through the period of forecasting between 2020 and 2030. The growth of the market is attributed to rising application of dibenzyl toluene as dielectric and heat transfer fluids, which will continue to drive the adoption in the years to come. However, the COVID-19 pandemic brought the chemical industry to a standstill, thereby negatively impacting the sales of dibenzyl toluene and further decelerating the slow growth of the market.
“Dibenzyl toluene has found significant usage in liquid organic hydrogen carrier (LOHC) systems, on the back of its physical properties that offer high resistance to temperature. Moreover, the rising need for effective storage and transportation of hydrogen will, in turn, complement the growth of the market in the form of hydrogenous GmbH,” says the Fact.MR report.
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Dibenzyl Toluene Market – Key Takeaways
- The global dibenzyl toluene market is projected to bestow an incremental opportunity of US$ 21Mn through the assessment period and will grow 1.4X in value by the end of 2030.
- Based on applications, usage as heat transfer fluid is projected to capture over 55% market value during the forecast period, while application as dielectric fluid is forecasted to gain prominence in the years to come.
- Among grades, dibenzyl toluene of grade, the <98% segment holds the lion’s share in market revenue, backed by healthy adoption in heat transfer equipment and affordable price range.
- On the basis of regions, Europe is anticipated to retain its dominance, accounting for nearly 1/3rd of market share owing to the presence of a flourishing chemical sector.
- North America, which accounted for nearly 1/4th of market share on the back of rising demand in the rapidly advancing oil & gas industry.
Dibenzyl Toluene Market – Driving Factors
- Continual demand and consumption of dibenzyl toluene across industries in which optimal temperatures have to be maintained such as chemical, petrochemical, pharmaceutical and others, will remain a crucial growth attribute.
- Rising application in petrochemical, oil & gas, chemicals, and plastic & rubber industries will continue to fuel the sales.
Dibenzyl Toluene Market – Constraints
- Complications associated with storage and transportation, and emergence of cheaper alternatives are holding back the growth of the market.
Anticipated Market Impact by Coronavirus Outbreak
The COVID-19 pandemic and the subsequent preventive measures taken by end-use industries have created a dent in the sales of chemicals and dibenzyl toluene is no different. With production and operations coming to a screeching halt, the demand for dibenzyl toluene has plummeted across oil & gas and chemical industries. Furthermore, macroeconomic factors such as reduced buying power, demand contraction, disruption of supply chains are also adversely impacting the growth of the market.
Explore the global dibenzyl toluene market with 145 figures, 100 data tables, along with the table of contents of the report. You can also find detailed segmentation on: https://www.factmr.com/connectus/sample?flag=RM&rep_id=4843
The key players operating in the dibenzyl toluene market include Arkema S.A, Eastman Chemical Company, Hydrogenious GmbH, Soken Technix, Yantai Jinzheng, and others. Among the aforementioned players, Arkema and Eastman cumulatively account for over 80% of the global supply of dibenzyl toluene. On the other hand, new entrants in the market are focusing on expanding their presence to potential regions to strengthen their foothold.
More on the Report
The FACT.MR’s market research report provides in-depth insights on the dibenzyl toluene market. The market is scrutinized on the basis of grade (<98%, >98%), application (dielectric fluid, heat transfer fluid, others), and end-use industry (chemicals, petrochemicals, plastics & rubber, oil & gas, pharmaceuticals, others) across six major regions. (North America, Europe, East Asia, South Asia & Oceania, Latin America, Middle East & Africa (MEA).