Global Aromatic Solvents Market, By Type (Toluene Solvents, Xylene Solvents, Ethylbenzene Solvents), By Application (Paints & Coatings, Adhesives, Printing Inks, Cleaning & Degreasing, Others), By End-User (Pharmaceuticals, Oilfield Chemicals, Automotive, Others), By Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa)– Industry Trends and Forecast to 2026
Market Analysis: Global Aromatic Solvents Market
The Global Aromatic Solvents Market is expected to rise from an initial estimated value of USD 5.97 billion in 2018 to an estimated value of USD 7.24 billion by 2026 while registering a CAGR of 2.45% in the forecast period of 2019-2026. These solvents are a powerful bonding and dissolving agent for organic liquids which has increased their applications to a number of industries, thus driving the market growth.
Market Definition: Global Aromatic Solvents Market
Aromatic solvents are those solvents that usually involve the inclusion of an aromatic hydrocarbon like toluene, xylene, or even naphtha. These solvents are used as diluents, and solvents, in various industries. They also have corrosion inhibiting capabilities which make it more beneficial.
- Increase in demand by the paints market is driving the growth higher, because these solvents are used to dissolve and bind a number of chemicals in the paint
- High solvency capabilities of these solvents is also one of the major factors for the market growth
- Due to the emissions of volatile organic compounds in the manufacturing of these solvents, the market is expected to be restrained
- The awareness regarding the harmful effects in usage of these aromatic solvents is growing and hence, the consumers are inclined on shifting to environmentally safe solvents. This factor is expected to restrain the market growth
Segmentation: Global Aromatic Solvents Market
- By Type
- Toluene Solvents
- Xylene Solvents
- Mixed Xylene
- Ethylbenzene Solvents
- By Application
- Paints & Coatings
- Printing Inks
- Cleaning & Degreasing
- By End-User
- Oilfield Chemicals
- By Geography
- North America
- South America
- Rest of South America
- United Kingdom
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- Middle East and Africa
- South Africa
- Saudi Arabia
- United Arab Emirates
- Rest of Middle East and Africa
- North America
Competitive Analysis: Global Aromatic Solvents Market
The Global Aromatic Solvents Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Aromatic Solvents market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.
Key Market Competitors: Global Aromatic Solvents Market
Few of the major market competitors currently working in the Aromatic Solvents Market are Royal Dutch Shell, SK Innovation Co. Ltd., Exxon Mobil Corporation, China Petrochemical Corporation, BASF SE, LyondellBasell Industries Holdings B.V., Reliance Industries Limited, Total, CPC Corporation, Pampa Energía S.A., Bharat Petroleum Corporation Limited, Chevron Phillips Chemical Company, FCFA, HCS Group, Indian Oil Corporation Ltd, Pon Pure Chemicals, Recochem Corporation, THAI OIL, W.M. Barr & Co., ARHAM PETROCHEM PRIVATE LIMITED (APPL), Agrofert, Eastman Chemical Company, Galp, Ganga Rasayanie (P) Ltd., Hanwha Group, Jiangsu Hualun Chemical Co. Ltd., Korea Petrochemical Ind. Co., LTD., Monument Chemical, S-OIL CORPORATION, Marathon Petroleum Corporation, Celanese Corporation, Honeywell International Inc., Ashland, and Huntsman International LLC.
Research Methodology: Global Aromatic Solvents Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request an Analyst Call or can drop down your inquiry.
The key research methodology used by DBMR Research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Key Insights in the report:
- Complete and distinct analysis of the market drivers and restraints
- Key Market players involved in this industry
- Detailed analysis of the Market Segmentation
- Competitive analysis of the key players involved