Scienza e Tecnologia
Dibenzyl Toluene Sales as Heat Transfer Fluid to Exceed US$ 54 Mn by 2031
NEW YORK , Dec. 6, 2021 /PRNewswire/ -- : The global dibenzyl toluene market is projected to reach US$ 77 Mn , exhibiting growth at 3.3% CAGR between 2021 and 2031, estimates Fact.MR. Increasing use of dibenzyl toluene as dielectric fluid and heat transfer fluid in diverse end-use sectors such as petrochemicals, rubber and plastic, and chemicals industries will boost the market.
As per Fact.MR, extensive application of dibenzyl toluene (DBT) as heat transfer fluid in rubber and plastic industry will increase its consumption, reaching 13 KT by the end of 2031. DBT is mainly used due to its attributes such as maintenance of proper temperatures in closed equipment and systems in chemical and petrochemical industries.
Against this backdrop, heat transfer fluid application is projected to account for over 55% of global market share in 2021. However, following the outbreak of COVID-19, with slight set-back in end-use industries, sales of dibenzyl toluene as heat transfer fluid are expected to lose 40 BPS by 2031.
Subsequently, with prominent applications of DBT as dielectric fluid, heat transfer fluid, and others the demand in the market is projected to increase in petrochemical and rubber & plastic industries. Also, as DBT possess properties to cool down high-voltage cables and with availability of various DBT grades, sales of DBT are expected to surpass 9.8 KT in 2021, in terms of volume.
In terms of grade type, the dibenzyl toluene grade of less than 98% is expected to dominate the market over the forecast period. Availability of DBT <98% in countries such as China , Germany , and the U.S. is expected to propel the growth in the market, with creating revenues 9x more than DBT>98% grade type.
Leading players operating in the dibenzyl toluene market are relying on organic strategies such as product development, capacity expansion, and innovation to increase their revenues. They are also aiming for strategic mergers and collaborations to expand their regional footprints and gain competitive edge.
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Fact.MR provides an unbiased analysis of the dibenzyl toluene market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global dibenzyl toluene market with a detailed segmentation on the basis of:
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