Dibenzyl Toluene Market Size

Dibenzyl Toluene Market size was over USD 57.62 Million in 2023 and is likely to reach USD 83.56 Million by the end of 2036, witnessing around 2.9% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of dibenzyl toluene is assessed at USD 59.12 Million. The growth of the market can be attributed to the rising demands from numerous end-use sectors. The industry experienced beneficial development during the period owing to the increased need for temperature control solutions to supply and manage the temperature of multiple goods and compounds. Furthermore, with R&D investments and the use of dependable marketing methods to expand customer portfolios, the market anticipates enormous potential prospects. 

Rising growth in chemical industry is also anticipated to propel the market growth over the forecast period. According to the U.S. Bureau of Economic Analysis, in 2020, for the U.S., the value added by chemical products as a percentage of GDP was around 1.9%. Additionally, according to the World Bank, Chemical industry in the U.S. accounted for 16.43% to manufacturing value-added in 2018. With the growing demand from end-users, the market for chemical products is expected to grow in future. According to UNEP (United Nations Environment Program), the sales of chemicals are projected to almost double from 2017 to 2030.