Research Nester’s recent market research analysis on “Dibenzyl Toluene Market: Global Demand Analysis & Opportunity Outlook 2035” delivers a detailed competitors analysis and a detailed overview of the global dibenzyl toluene market in terms of market segmentation by grade, application, end user, and by region.
Growing Demand in End User Industries to Promote Global Market Share of Dibenzyl Toluene
The global dibenzyl toluene market is estimated to grow majorly on account of the increasing demand from various end-use industries. Due to the rising demand for temperature control solutions to supply and manage the temperature of numerous commodities and compounds, the sector witnessed positive growth throughout this time. Furthermore, the industry forecasts tremendous prospects with R&D expenditures and the usage of reliable marketing strategies to increase customer portfolios.
The chemical sector uses the majority of the hydrogen produced. Transporting hydrogen as liquid or ammonia poses a serious risk to both the carrier and the environment as it is highly flammable and dangerous by nature. One profitable hydrogen transportation technology for resolving the aforementioned problems is LOHC. Among the LOHCs on the market, such as Methylcyclohexane (MCH), DBT, and others, DBT offers various opportunities for major businesses to increase their position in the hydrogen distribution networks in Europe and North America. The demand for DBT as LOHC from players in the logistics sector and hydrogen distributors is anticipated to fuel market growth.
Some of the major growth factors and challenges that are associated with the growth of the global dibenzyl toluene market are:
Growth Drivers:
· Growing Applications in Rubber Industry
· Rising Demand for the Pharmaceuticals
Challenges:
The main petrochemical generated in the refinery from crude oils is BTX (Benzene Toluene Xylene). Variations in the price of crude oil are anticipated to have an impact on market toluene pricing, which is anticipated to have an impact on the price of dibenzyl toluene. Toluene is the main raw material used to manufacture the oil known as dibenzyl toluene. Lower demand across the board is a result of higher expenses, which lowers market demand. Additionally, the DBT supply chain is interrupted because of fluctuating market demand and high product costs. Besides, heat transfer oil alternatives available in the market are another factor posing a challenge in front of the market These are some of the major factors anticipated to hamper the global market size of dibenzyl toluene.
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By Application, the global dibenzyl toluene market is segmented into dielectric fluid, heat transfer fluid, and others. Amongst these three segments, the heat transfer fluid is to garner the highest revenue by the end of 2035 by growing at a significant CAGR over the forecast period. For over thirty years, dibenzyl toluene has been utilized as a heat transfer fluid. For this kind of application, 98% purity is ideal. Due to its high ignition point, heat transfer coefficient, nonflammability, and elevated boiling point properties, DBT has gained popularity in the heat transfer fluid market and is used by industries like petrochemicals, chemicals, plastics, rubber, and many others. The market for heat transfer fluid is what rivals like Arkema and Eastman are after. DBT dominates the market owing to its high utilization as a heat transfer fluid.
By region, the Asia Pacific dibenzyl toluene market is to generate the highest revenue by the end of 2035. This growth is anticipated with the rise in oil sector activity, expanding investments by major market players, and increased regional industrial output. Important users like Evonik, Sinopec, ArcelorMittal, Nippon Steel, Showa Denko, and numerous other businesses that produce a wide range of goods are also situated in the area. High heat transfer coefficient fluids are necessary for these industries. China is the region's top user of DBT and is at the cutting edge of consumption. As a result of these factors, Asia Pacific is anticipated to rule the market during the forecast period. China is the largest oil consumer in the Asia-Pacific region, consuming 15.5 million barrels of oil per day in 2021. In that particular year, India consumed approximately 4.95 million barrels of oil per day, making it the region's second biggest oil user.
This report also provides the existing competitive scenario of some of the key players of the global dibenzyl toluene market which includes company profiling of Eastman Chemical Company, SOKEN ELECTRIC CO., LTD., Arkema group, HYDROGENIOUS LOHC Technologies GmbH, and others.
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