Allylbenzene Market Size, Share, Growth, and Industry Analysis, By Type (≥99.0%, <99%), By Application (Organic Synthesis, Others) and Regional Insights and Forecast to 2031

Updated On: 06 May 2024

ALLYLBENZENE MARKET REPORT OVERVIEW

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The global allylbenzene market size was USD 1302 million in 2022 and will touch USD 1711.4 million by 2029, exhibiting a CAGR of 3.9% during the forecast period.

In the land of chemicals, allylbenzene, also known as 3-methylhydrocinnamylbenzene or allylphenyl with the chemical formula C9H10, is a two-component transparent liquid that is poorly soluble in water but rather is very soluble in organic solvents such as alcohols and ethers. At its core lies a benzene ring linked to one of its carbon atoms via a propene unit known as the allyl group. In the grand scheme of chemical processes, allylbenzene plays a pivotal role as a building block for crafting an array of chemicals and polymers. By undergoing diverse chemical transformations including hydrogenation, oxidation, and polymerization, this versatile compound gives rise to an assortment of materials boasting unique industrial applications.

The allybenzene market has been up recently for its various application areas such as pharmaceutical, textile, food and a lot more. Known by its designated labels, proenylbenzene or AB, allylbenzene is a significant precursor used for production of various chemicals used in food, cleaners and glues beside many other products. They are of huge significance as they do form the basis for fragrances, flavors, and pharmaceuticals. The rising demand has not only influenced the fragrance, flavor, and pharmaceutical industry but allylbenzene as a raw material is also fuelled by the need in this industry. The product serves as a core monomer for creating polymers, resins, and thermoplastics. Therefore, it follows that the market position is maintained. Ongoing advancements in production technologies and the expansion of key industries that use allylbenzene are set to sustain its market growth. Additionally, investments in research and development to discover new uses and enhance production efficiency are poised to drive further expansion of the market.

COVID-19 Impact: Market Growth Hampered By Pandemic Due to Disruptions in Supply Chains

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

Just like all other industries around the world, even the allylbenzene market experiences similar conundrums of the COVID-19 pandemic. The world economy has been badly bruised due to the lockdowns and a breakdown of supply chains, majorly affecting the demand for allylbenzene and its derivatives. The market during the pandemic faced a downturn from major end-use sectors, including but not restricted to automotive, construction, and consumer goods at large. Low consumer spending and general uncertainty in economic recovery are other factors reducing the demand for allied industries where the product is put to use. At the same time, the production and distribution of allylbenzenes have been affected by supply chain disturbances and poor logistics, which brought an insufficient amount of these products for its needed purpose but at a very high cost to the producer.

LATEST TRENDS

"Growing Demand in Chemical Applications to Drive Market Growth"

The market for allylbenzene is growing as a result of various factors. One new phenomenon manifests itself as a result of the growing use of allylbenzene derivatives in specialty chemicals applications, especially in the arena of pharmaceutical and fragrance sphere. Advance products with an innovative and rich display of alloybenzene-based substances with progressed attributes which meet the needs of the market. Also, among the important trends is the heightening of attention at sustainable production systems. Companies will invest in research and use of environment-friendly production technologies, thus making the processes more environmentally-friendly. They also will use renewable feedstocks for the synthesis of allylbenzene. The transition to the sustainability is in accordance to the growing public as well as governing bodies to lower the environmental impact. Similarly, newer catalytic principles are indeed providing a competitive edge evidenced by more efficiently cleaner and safe production of indole and related chemicals. Upgraded catalysts provide excellent yields, selectivity, and lower energy with the production and profitability of the manufacturers.

ALLYLBENZENE MARKET SEGMENTATION

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By Type

Based on type the global market can be categorized into ≥99.0%, <99%.

• ≥99.0%: Allylbenzene 99.0% means this specific allylbenzene passes a rigorous specification standard to deliver this type of purity, at a level of 99.0% or higher. It might be needed in the synthesis of pharmaceuticals and in fragrances and specialty chemicals.

• < 99%: This means that the allylbenzene is less pure, with a level of purity below 99.0%. Allylbenzene of purity below 99.0% could suitably be applied in works of less demand or used as a starting material, further to be purified or synthesized chemically.

By Application                                                                                                                                           

Based on application the global market can be categorized into Organic Synthesis, Others.

• Organic Synthesis: From the view of total synthesis in organic synthesis, allylbenzene is a flexible active compound for the preparation of a range of other valuable chemicals. The major utilities of allylbenzene are for precursor purposes in making important intermediates, including phenyl acetic acid, phenylacetaldehyde, and cinnamic acid, which are essential in fine chemicals, pharmaceuticals, flavors, and fragrances.

• Others: Allylbenzenes, besides finding application in the field of organic synthesis; is also used in diverse fields and industries. Besides, it also has potential use as a monomer for the production of polymers, resins, and plastics that have or need to exhibit good properties in the final products, such as flexibility, toughness, and chemical resistance.

DRIVING FACTORS

"Rising Demand from Various Industries to Boost the Market Growth"

The allylbenzene market growth is driven by demand from consumers in many industries, which include pharmaceuticals, fragrances, polymers, and resins. The demand for allylbenzene and its synthetic derivatives are rising due to growth of population, urbanization and increasing disposable incomes. Allylbenzene also acts as a versatile key raw material for the production of a series of specialty chemicals, inclusive of phenylacetic acid, phenyl acetaldehyde, and cinnamic acid. These specialty chemicals find applications in pharmaceuticals, flavors, fragrances, and other high-value products, therefore, demanding allylbenzene. Advances in technology have come into play in green chemistry, catalytic processes, and in the general process, and have been able to give a better and effective way of introducing production of allylblenzene. This has led to optimization of productivity, reduction of the cost of production, and improvement in quality through technological developments.

" Growing Awareness about Sustainable Manufacturing Practices to Expand the Market Growth"

The allylbenzene market is highly concerned with environmental issues and regulatory pressures, since there is focus on sustainable manufacturing practices. Some companies are investing in environmentally friendly ways and means in the production of renewable feedstocks and in reducing wastes and emissions from allylbenzene production, which can stimulate demand for sustainable products. Another driving factor in the market is the collaborations ad partnerships, and such collaborations can include research institutions and government bodies. At the same time, this increases innovativeness, promotes technology transfer, and enlarges the reach of the market. The resultant strength, resources, and expertise, when put together in strategic partnerships and collaborations, enable the company to socialize new products and rapidly search for new markets to meet customer needs.

RESTRAINING FACTORS

"Fluctuations in Prices of Raw Materials to Impede Market Growth"

The prices of the basic raw materials that form benzene and propylene or allylbenzene basic feedstock are subjected to fluctuations which means it can rise or fall anytime due to various economic factors. Either way, any such change might severely affect production costs and could corrode the profit margins of the manufacturers, which would enter the market vulnerable again to supply chain disruptions and geopolitical tensions restricting growth of the market.

ALLYLBENZENE MARKET REGIONAL INSIGHTS

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"Asia Pacific to Dominate in the Market due to Presence of a Large Consumer Base"

The market is segmented into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

Asia Pacific has emerged as the most dominant region in the global allylbenzene market share.  China, Japan, South Korea, and India are among the major producers and users of allylbenzene in this area. The market for allylbenzene is dominated by China in particular because of the country's sizable industrial base, substantial chemical sector, and strong domestic demand. The nation's swift industrialization, urbanisation, and economic expansion have stimulated substantial investments in the chemicals industry, encompassing the manufacturing of allylbenzene and its by-products.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The allylbenzene market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in Allylbenzene, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List of Market Players Profiled

• Haihang Industry (China)
• UIV Chem (China)
• Shangyu Catsyn Co., Ltd. (China)
• Hangzhou Hairui Chemical Co., Ltd. (China)

INDUSTRIAL DEVELOPMENT

April 2022: Haihang Industry became one of the top chemical manufacturer and exporter in China. It is also one of the leading expert in chemical international supply chain management.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.