The aromatic solvents market is segmented on the basis of product, application and endusers. The growth amongst the different segments helps you in attaining theknowledge related to the different growth factors expected to be prevalent throughoutthe market and formulate different strategies to help identify core applicationareas and the difference in your target markets.
The aromaticsolvents market is expected to witness market growth at a rate of 3.42% in theforecast period of 2021 to 2028. Data Bridge Market Research report on aromaticsolvents market provides analysis and insights regarding the various factorsexpected to be prevalent throughout the forecast period while providing theirimpacts on the market’s growth. The rise in the usage of aromatic solvent inthe automotive industry and increase in demand from end user industries arefactors escalating the growth of aromatic solvents market.
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The aromaticsolvents refer to a grade of solvents which are extensively used in variousindustries as they consist of aromatic hydrocarbon including xylene, naptha ortoluene which makes them highly suitable. It finds numerous applications indifferent end user industries including oil and gas, automobiles, adhesive andsealants, textiles and paints and coatings owing to their features such ascorrosion resistance and high solvency rate.
The rise indemand for these solvents from the paints and coating industry due to theirhigh solvency property and their gaining popularity are the major factorsdriving the aromatic solvents market. These solvents dissolve or dispersevariety of components to bring excellent pigments, extenders, additives andbinders which increase their demand. The increase of their use in various enduser industries especially oilfield chemical, pharmaceuticals and automotivealso influence the aromatic solvents market. The increase in demand from oiland gas sector for their corrosion resistance property, high usage of solventsincluding xylene for the synthesis of several active pharmaceutical ingredientsalong with cleaning of pharmaceutical equipment and rise in product’s use asadhesive and sealants to bond vehicle parts accelerate the aromatic solventsmarket growth. Additionally, the rise in the consumption of aromatic solventsfor drug formulation in pharmaceuticals sector positively affects the aromaticsolvents market. Furthermore, the technological advancements and rapidurbanization in emerging economies extend profitable opportunities to thearomatic solvents market players in the forecast period of 2021 to 2028.
On the otherhand, the implementation of stringent regulatory norms supporting theexploration of substitute due to the concerns associated with the emission ofvolatile organic compounds (VOCs) and the shift towards non-aromatic solventsare factors expected to obstruct the aromatic solvents market. Issues with theharmful effects of the products are projected to challenge the aromaticsolvents market in the forecast period of 2021-2028.
Thisaromatic solvents market report provides details of new recent developments,trade regulations, import export analysis, production analysis, value chainoptimization, market share, impact of domestic and localized market players,analyses opportunities in terms of emerging revenue pockets, changes in market regulations,strategic market growth analysis, market size, category market growths,application niches and dominance, product approvals, product launches,geographical expansions, technological innovations in the market. To gain moreinfo on aromatic solvents market contact Data Bridge Market Research for anAnalyst Brief, our team will help you take an informed market decision toachieve market growth.
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On the basisof product, the aromatic solvents market is segmented into benzene, toluene,xylene, and solvent naphtha.
On the basisof application, the aromatic solvents market is segmented into paints andcoatings, adhesives, printing inks, cleaning and degreasing and others.
On the basisof end users, the aromatic solvents market is segmented into pharmaceuticals,oilfield chemicals, automotive, paints and coatings, pesticides, textiles,cleaners, chemical intermediates, electronics, adhesive and sealants, perfumesand cosmetics.
The aromaticsolvents market is analyzed and market size, volume information is provided bycountry, product, application and end users as referenced above.
Thecountries covered in the global aromatic solvents market report are the U.S.,Canada and Mexico in North America, Germany, France, U.K., Netherlands,Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe,China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand,Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC),Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East andAfrica (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina andRest of South America as part of South America.
Asia-Pacificdominates the aromatic solvents market due to the increase in usage of aromaticsolvents in the automotive and construction sectors in the region. Europe isexpected to witness significant growth in CAGR in the forecast period of2021-2028 because of the expansion of chemical sector in the region.
The countrysection of the report also provides individual market impacting factors andchanges in regulation in the market domestically that impacts the current andfuture trends of the market. Data points such as consumption volumes,production sites and volumes, import export analysis, price trend analysis,cost of raw materials, down-stream and upstream value chain analysis are someof the major pointers used to forecast the market scenario for individualcountries. Also, presence and availability of global brands and theirchallenges faced due to large or scarce competition from local and domesticbrands, impact of domestic tariffs and trade routes are considered whileproviding forecast analysis of the country data.
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The aromaticsolvents market competitive landscape provides details by competitor. Detailsincluded are company overview, company financials, revenue generated, marketpotential, investment in research and development, new market initiatives,global presence, production sites and facilities, production capacities,company strengths and weaknesses, product launch, product width and breadth,application dominance. The above data points provided are only related to thecompanies’ focus related to aromatic solvents market.
The majorplayers covered in the aromatic solvents market report are China PetrochemicalCorporation, Exxon Mobil Corporation, SK global chemical Co., Ltd., Royal DutchShell, BASF SE, LyondellBasell Industries Holdings B.V., China NationalPetroleum Corporation, Reliance Industries Limited, Total, CPC Corporation,Bharat Petroleum Corporation Limited, Chevron Phillips Chemical Company LLC,Formosa Chemicals & Fibre Corp, Gotham Industries, HCS Group, Indian OilCorporation Ltd, Pon Pure Chemicals Group, Recochem Corporation, TOP SOLVENTCO.,LTD, WM Barr among other domestic and global players. Market share data isavailable for global, North America, Europe, Asia-Pacific (APAC), Middle Eastand Africa (MEA) and South America separately. DBMR analysts understandcompetitive strengths and provide competitive analysis for each competitorseparately.
GlobalAromatic Solvents Market, By Product (Benzene, Toluene, Xylene, SolventNaphtha), Application (Paints and Coatings, Adhesives, Printing Inks, Cleaningand Degreasing, Others), End Users (Pharmaceuticals, Oilfield Chemicals,Automotive, Paints and Coatings, Pesticides, Textiles, Cleaners, ChemicalIntermediates, Electronics, Adhesive and Sealants, Perfumes, Cosmetics), Country (U.S., Canada, Mexico, Brazil,Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain,Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India,South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines,Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest ofMiddle East and Africa) Industry Trends and Forecast to 2028
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