Global Divinylbenzene Market Size, Share, Growth Analysis, By Type(DVB 50, DVB 63), By Application(Ion Exchange Resins, Chromatographic Resins) - Industry Forecast 2024-2031

Report ID: SQMIG15E2371 | Region: Global | Published Date: February, 2024
Pages: 157 | Tables: 67 | Figures: 80

Global Divinylbenzene Market News

In September 2023, Deltech Corporation, a major player in providing high-performance Aromatic Monomers to the Adhesives & Sealants market, announced the introduction of a new range of DVB products designed for the electronics industry. This is a strategic shift put in place to ensure that Deltech Corporation remains competitive in the market and the electronics industry and that its products can address the unique requirements for different electronic applications.
In August 2023, the Japanese company Nippon Steel Chemical, known globally as the sole manufacturer of metal catalyst carriers, announced its development of a new production process for GVB. This radically new approach is bound to surpass the traditional DVB manufacturing methods in terms of efficiency and environmental sustainability route to raising the bar for DVB production technologies.
In July 2023, the DVB plant of Jiangsu Evergreen Chemical, the leading chemical engineering firm, hosted the grand opening ceremony in China. The plant, which is equipped with 100, 000 tons of DVB and the quantity is increased with the aim of corresponding to the rising market of DVB in the country, is a clear indication of Jiangsu Evergreen Chemical Company is dedicated to meet the increasing market demand and expand its manufacturing capacity.

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Global Divinylbenzene Market size was valued at USD 76.00 million in 2022 and is poised to grow from USD 79.20 million in 2023 to USD 110.06 million by 2031, growing at a CAGR of 4.2% in the forecast period (2024-2031).

The global divinylbenzene market is marked by a competitive landscape full of several key players striving to gain and retain market share. The industry’s prominent players include Nippon Steel Chemical & Material Co., Ltd., Dow Chemical Company, Mitsubishi Chemical Corporation, and Merck KGaA. 'Dow Chemical Company (USA)', 'Chevron Phillips Chemical Company (USA)', 'Nippon Steel Chemical Co., Ltd. (Japan)', 'Formosa Plastics Corporation (Taiwan)', 'Eastman Chemical Company (USA)', 'Mitsubishi Chemical Corporation (Japan)', 'LG Chem (South Korea)', 'Sumitomo Chemical Co., Ltd. (Japan)', 'AkzoNobel N.V. (Netherlands)', 'Evonik Industries AG (Germany)', 'Royal Dutch Shell Plc (Netherlands)', 'Sinopec Group (China)', 'Idemitsu Kosan Co., Ltd. (Japan)', 'Honeywell International Inc. (USA)', 'BASF SE (Germany)', 'LyondellBasell Industries N.V. (Netherlands)', 'INEOS Group (Switzerland)', 'Asahi Kasei Corporation (Japan)', 'Solvay S.A. (Belgium)', 'JXTG Holdings, Inc. (Japan)', 'Styron (Trinseo) (USA)', 'PTT Global Chemical Public Company Limited (Thailand)', 'Versalis S.p.A. (Italy)', 'Merck KGaA (Germany)', 'SABIC (Saudi Arabia)'

Divinylbenzene is an essential raw material in the manufacturing of cross-linked polymers and resins, which are typically utilized in ion exchange resins and adsorbent resins. As industries like pharmaceuticals, water treatment, and electronics grow, the demand for ion exchange and adsorbent resins will follow, thus pushing the demand for divinylbenzene.

Shifting Focus towards Sustainable and Bio-based Alternatives: Recently, the chemical industry is placing their focus on sustainability and responsibility towards the environment. This trend has affected the divinylbenzene market as well. This trend is in line with the efforts in reducing the environmental impact of chemical production. The market is now prioritizing the production of green bio-based options. Researchers and producers are partnering up to look for production methods that align with this trend. Manufacturing of divinylbenzene with renewable feedstocks is one great option for sustainable production processes. This trend has also fueled an interest in eco-friendly alternatives for DVB.

Asia-Pacific has generally led the divinylbenzene market. The thriving chemical industries in nations like Japan, China, and South Korea create a growing demand for DVB. It can be used as a raw material in various applications like the production of specialty polymers, ion exchange resins, and catalysts. APAC’S industrial growth and advanced manufacturing capabilities cement its dominance in the DVB market.

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Global Divinylbenzene Market Size, Share, Growth Analysis, By Type(DVB 50, DVB 63), By Application(Ion Exchange Resins, Chromatographic Resins) - Industry Forecast 2024-2031

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