Dibenzyl Toluene Market Pegged at US$ 54 Mn Value Pool in 2020; Application as Heat Transfer Fluid Set to Drive Revenue Growth
Published : 16 Jun 2020 Industry: Chemical & Materials
The dibenzyl toluene market is currently valued at more than US$ 54 Mn and is projected to grow at a CAGR of 3.4% over the forecast period (2020-2030). Dibenzyl toluene is one of the key components for maintaining proper temperatures in closed equipment and systems. Moreover, demand for dibenzyl toluene for its application as dielectric and heat transfer fluid in South Asia & Oceania and East Asia is increasing on a significant pace, owing to rise in chemical, petrochemical, and pharmaceutical production in these regions.
The emergence of dibenzyl toluene as a new class of liquid organic hydrogen carrier compounds (LOHC) is set to provide impetus to the market in long-run. In addition, the compound is industrially manufactured and used in closed systems, which minimizes exposure potential and release to the environment.
Key Takeaways of Global Dibenzyl Toluene Market Study
- The global dibenzyl toluene market is anticipated to create a value opportunity of US$ 21Mn during the forecast period, expanding 1.4X over 2020.
- Use of dibenzyl toluene as heat transfer fluid is estimated to account for more than 55% share of the market revenue in 2020, and lose 40 BPS in its market share by 2030 over 2020.
- Dielectric fluid application is anticipated to gain around 40BPS during the forecast period.
- Europe holds the leading share, followed by North America and East Asia.
“Increased focus on the use of LOHC in hydrogen-driven transportation systems and subsequent rise in need for heat transfer oil to store and transport hydrogen has been a growth lever of the dibenzyl toluene market,” says the Fact.MR analyst.
Threats of New Entrants Remain Low in Dibenzyl Toluene Market
The dibenzyl toluene market is highly consolidated with key players such as Arkema and Eastman Chemicals accounting for relatively high revenue share than other players. Penetration of the new entrants is highly unlikely, owing to periodical demand for dibenzyl toluene across end-use industries and presence of better substitutes over DBT. Merger & acquisition remain key focus areas of the top players to continue to maintain a strategic position in the market. For instance, in April 2019, Eastman acquired Marlotherm heat transfer fluids manufacturing assets from Sasol to expand its product offerings.
COVID-19 Impact on Dibenzyl Toluene Market
The COVID-19 pandemic has affected the global economy in several ways. Demand for various products across several industrial verticals has fallen, directly impacting production. Supply chains have been disrupted, causing a gap in the demand-supply equation. A significant market crunch is anticipated for the oil& gas and chemical industries, attributed to shortfalls in the macroeconomic factors such as buying power, demand contraction, and others. As demand is set to gain pace with the resumption of operations in chemical and oil & gas industries, the dibenzyl toluene market is anticipated to rebound post two quarters of market reopening.
More Valuable Insights on Dibenzyl Toluene Market
Fact.MR, in its new offering, presents an unbiased analysis of the global dibenzyl toluene market, presenting historical demand data (2015-2019) and forecast statistics for the period of 2020-2030. The study divulges essential insights on the dibenzyl toluene market 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.
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