Global Aromatic Solvent market
Global Aromatic Solvent market was valued US$ 7.27 Bn in 2018 and is anticipated to reach US$ XX Bn by 2026 at a CAGR of about XX % during a forecast period.
Global Aromatic Solvent market is segmented by raw material, by application and by region. Aromatic Solvent market is segmented into Benzene, Toluene, Xylene and Ethylbenzene solvent. Oilfield chemicals, pharmaceuticals, automotive, paints and coatings, and others are application segment of Aromatic Solvent market. Geographically into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
An aromatic solvent consists of an aromatic hydrocarbon such as ethane, naphtha, toluene, xylene, or propane. The aromatic solvents are organic chemicals that dissolve the solid materials to form a solution that is homogenous. It is mainly produced by means of distillation of the crude petroleum stock in oil refining industry. Moreover, these aromatic solvents are used in the manufacturing of other intermediate chemicals such as cumene, phthalic anhydride, ethyl benzene, maleic anhydride, and naphthalene.
Global Aromatic Solvent Market, by Region
Toluene is used as a raw material for toluene diisocyanate, cement for polystyrene kits, and fullerene indicator and is also used in leather tanning and printing processes. The xylene solvents segment of the aromatic solvents market is projected to register the highest CAGR from 2018 to 2023, in terms of value and volume. This is due to its high solvency power and increasing capacity expansion of xylene, globally.
The paints & coatings segment accounted for the largest market share, in terms of value, in 2017. The growth of the automotive OEM, machinery, and appliances markets, globally accompanied by the rise in building and construction activities are expected to drive the demand in this application during the forecast period.
Asia Pacific is estimated to be the largest market for aromatic solvents in 2018, and the region is also expected to continue to lead the market till 2023, owing to the growing industries in the region's emerging economies such China, South Korea, and India. The rising per capita disposable incomes, rapid urbanization, and growing demand for automobiles are projected to fuel the aromatic solvents market.
Exxon Mobil Corporation, LyondellBasell Industries N.V., BASF SE, Eastman Chemical Company, Royal Dutch Shell Plc., Chevron Phillips Chemical Company, Celanese Corporation, W.M. Barr & Company Inc., Total S.A., Top Solvent Co. ltd, Reliance Industries Limited, Recochem Inc., Pon Pure Chemicals Group., Indian Oil Corporation Limited, Haltermann Carless, Gotham Industries, Global Chemical Co. Ltd, Formosa Chemicals & Fibre Corporation, China National Petroleum Corporation, Bharat Petroleum Corporation Limited are key players included in the Global Aromatic Solvent market.
The objective of the report is to present comprehensive analysis of Global Aromatic Solvent Market including all the stakeholders of the industry. The past and current status of the industry with forecasted Market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes Market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Global Aromatic Solvent Market dynamics, structure by analyzing the Market segments, and project the Global Aromatic Solvent Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Aromatic Solvent Market the report investor’s guide.
The Scope of Global Aromatic Solvent Market:
Global Aromatic Solvent Market ,by Raw Material
• Benzene
• Toluene
• Xylene
• Ethylbenzene solvent
Global Aromatic Solvent Market, by Application
• Oilfield chemicals
• Pharmaceuticals
• Automotive
• Paints and coatings
• Others
Global Aromatic Solvent Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
Key Player Analysed in the Global Aromatic Solvent Market Report:
• Exxon Mobil Corporation
• LyondellBasell Industries N.V.
• BASF SE
• Eastman Chemical Company
• Royal Dutch Shell Plc.
• Chevron Phillips Chemical Company
• Celanese Corporation
• W.M. Barr & Company Inc.
• Total S.A.
• Top Solvent Co. ltd
• Reliance Industries Limited
• Recochem Inc.
• Pon Pure Chemicals Group.
• Indian Oil Corporation Limited
• Haltermann Carless
• Gotham Industries
• Global Chemical Co. Ltd
• Formosa Chemicals & Fibre Corporation
• China National Petroleum Corporation
• Bharat Petroleum Corporation Limited
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