Dibenzyl Toluene Market to Witness Growth by a CAGR of ~2% throughout 2030
Research Nester published a report titled “Dibenzyl Toluene Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global dibenzyl toluene market in terms of market segmentation by grade, application, end user, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global dibenzyl toluene (DBT) market is estimated to occupy a large revenue by growing at a CAGR of ~2% during the forecast period, i.e., 2021 – 2030, owing to the growing usage of DBT as an industrial solvent, rising application of the chemical as dielectric and heat transfer fluids, and escalating need for effective storage and transportation of hydrogen. Apart from these, increasing requirement for effective heat transfer equipment for storing oil is also expected to drive market growth.
The global dibenzyl toluene market is segmented by grade, application and end user. Based on end user, the segment for oil and gas is anticipated to grab the largest market share during the forecast period on the back of high amount of production of dibenzyl toluene while manufacturing gasoline and other fuels from crude oil. The chemicals segment is also anticipated to garb a significant share owing to the rise in use of DBT for maintaining temperatures in chemical manufacturing facilities.
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Geographically, the market is segmented into five major regions, namely North America, Europe, Latin America, Asia Pacific, and the Middle East & Africa. Europe is evaluated to grab the largest share in the market during the forecast period attributing to the increasing research and development activities in the chemicals sector and strong presence of major market players in the region. Moreover, the market in Asia Pacific is assessed to grow by the highest rate in the future owing to the growing number of activities in the oil industry and rise in manufacturing output in the region.
Growing Use of DBT as an Industrial Solvent to Boost Market Growth
Dibenzyl toluene is a colorless and clear liquid that is extensively being used as an industrial solvent for manufacturing paints, rubbers, glues, lacquers and adhesives as it is very effective in drying dissolving other thin substances. This is considered to be a crucial factor assessed to drive growth to the market in the forthcoming years.
However, health issues associated with the improper usage of DBT is expected to operate as key restraint to the growth of the global dibenzyl toluene market over the forecast period.
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 Toshiba Materials Co., Ltd., Eastman Chemical Company, SOKEN ELECTRIC CO., LTD., Arkema group, HYDROGENIOUS LOHC Technologies GmbH, Yantai Jinzheng Fine Chemical, Exxon Mobil Corporation, BASF SE, Valero Energy, BP Chemicals, Covestro AG, and others. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global dibenzyl toluene market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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