Sales of Dibenzyl Toluene to Grow 1.5X by 2031; Extensive Application in Heat Transfer Fluid a Key Growth Lever, Evaluates Fact.MR
Published : 22 Nov 2021 Industry: Chemical & Materials
According to Fact.MR, a market research and competitive intelligence provider, the dibenzyl toluene market is currently valued at more than US$ 54 Mn, and is projected to expand at a CAGR of 3.4% over the forecast period (2021-2031).
Dibenzyl toluene is one of the key components for maintaining proper temperatures in closed equipment and systems. Demand for dibenzyl toluene for its application as a dielectric and heat transfer fluid in South Asia & Oceania and East Asia is increasing at a significant pace, owing to rise in chemical, petrochemical, and pharmaceutical production in these regions.
Emergence of dibenzyl toluene as a new class of liquid organic hydrogen carrier compound (LOHC) is set to provide impetus to market growth in the 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 from Market Study
- The global dibenzyl toluene market is anticipated to create a value opportunity of around US$ 21 Mn over the forecast period, adding 1.5X value as compared to 2020.
- Heat transfer fluid application is estimated to account for more than 55% share of market revenue in 2021, but is expected to lose 40 BPS by 2031.
- The dielectric fluid segment is anticipated to gain around 40 BPS by 2031.
- Europe holds a leading share and enjoys the economies of density and scale.
“Greater potential of dibenzyl toluene in LOHC application is set to provide immense opportunities for market expansion,” says a Fact.MR analyst.
Threat of New Entrants Remains Low in Market
The dibenzyl toluene market is highly consolidated in nature, with key players such as Arkema and Eastman Chemicals accounting for relatively high revenue share. Penetration of new entrants is highly unlikely, owing to periodical demand for dibenzyl toluene across end-use industries and presence of better substitutes.
Mergers and acquisitions remain the 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’s heat transfer fluids manufacturing assets from Sasol to expand its product offerings.
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global dibenzyl toluene market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031. 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 of the world.
About the Chemicals & Materials Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations – the Chemicals & Materials team at Fact.MR assists clients with unique business intelligence needs on a global level. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analyzed the Chemicals & Materials industry lucidly in 50+ countries for over a decade. The chemicals & materials team at Fact.MR assists clients in their business expansion as well as new ventures, through hawk-eyed analysis and strategic recommendations.
For more information, refer to our market research report or contact the PR author.
Sr. Consultant – Chemicals and Materials