According to the research report titled ‘Europe Tetraethyl Benzene Market Forecast 2027 By Application, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with MarketStudyReport, Europe tetraethyl benzene market is likely to be worth USD 118 thousand by the year 2027.
 

Increasing demand for active pharmaceutical components, R&D investments made by chemical manufacturers, alongside consistent advancements in the coating and medical sectors for cost-effective and eco-friendly goods are primarily driving Europe tetraethyl benzene market expansion. Moreover, rising demand for high performance coatings will further impel the industry trends.
 

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For the unversed, tetraethyl benzene is used to make benzene carboxylic acids, vinylbenzenes, and pyromellitic dianhydride, which are all employed in the production of high-performance coatings.
 

As per the report, the COVID-19 outbreak has boosted the demand for active pharmaceutical ingredients (APIs) and pharmaceuticals which are most often used in bronchodilators, antivirals, antibiotics, and antimalarials, thereby bolstering the sales of tetraethyl benzene.
 

In terms of application spectrum, the market is divided into downstream products production, pharmaceutical intermediates, and research applications. Among these, the research category accounted for 60% share in tetraethyl benzene market in Europe in 2020, thanks to increased attempts to improve the chemical features of current chemical substances.
 

Meanwhile, downstream products production segment is gaining traction due to high demand for products like oils, lubricants, natural gas, and other O&G sector output. And lastly, pharmaceutical intermediates application is poised to amass USD 28,000 by the year 2027, as pharmaceutical manufacturers are expanding their manufacturing capacity due to tremendous potential in drug business and specialty medications.
 

The key players in Europe tetraethyl benzene marketplace are Antimex Chemical Limited, Zibo Hangyu Import & Export Co. Ltd., Sagechem Limited, Henan Tianfu Chemical Co. Ltd., AHH Chemical Co. Ltd., BOC Sciences Inc., Leap Chem Co. Ltd., ChemSampCo. LLC, and Angene International Limited.