Market Analysis: Global Toluene Market
Global toluene market is set to witness a substantial CAGR of 5.53% in the forecast period of 2019- 2026. The report contains data of the base year 2018 and historic year 2017. Rising demand for chemical intermediate made from toluene and rising popularity of efficient gasoline are the factor driving the market.
Key Market Competitors:
Few of the major competitors currently working in global toluene market are Exxon Mobil Corporation, China Petroleum & Chemical Corporation., Reliance Industries Limited., The Chemical Company, Mitsubishi Chemical Corporation, Pon Pure Chemicals, Brenntag North America, Inc., OCI COMPANY Ltd., Dow, HELM AG, Valero Marketing and Supply Company, BASF SE, Indian Oil Corporation Ltd, Covestro AG, Solventis, Central Drug House., Benzo Chem Industries Pvt. Ltd., GNFC. Limited, Yashdeep Chemicals (India) Pvt Ltd and others.
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Market Definition: Global Toluene Market
Toluene or toluol is a colorless and flammable liquid and is usually obtained from coal tar and petroleum. They have odor similar to the paint thinners and is widely used as a solvent in the production of TNT, benzoic acid, benzaldehyde and others. They can be formed from different production process such as pygas processes, coke/coal process, reformate process and styrene process. They are mainly used as corrosion inhibitor in oil and gas industry. This chemical is widely used in application such as blending, dyes, drugs, cosmetic nail products and others.
- Increasing usage of toluene as solvent will drive the growth of the market
- Growing demand of toluene from petrochemical industry will propel the market growth
- Expanding dye industry worldwide will drive the market growth
- Increasing awareness about the application of toluene and its derivatives will also contribute as a factor for the market growth
- Fluctuation in the price of the raw material will restrain the market growth
- Rising demand for other aromatic products is restricting the growth of the market
- Strict government regulations will also hinder the growth of this market
Segmentation: Global Toluene Market
By Derivative Type
- Benzene & Xylene
- Toluene Diisocyanates
- Gasoline Additives
- Benzoic Acid
By Production Process
- Reformate Process
- Pygas Process
- Coke/ Coal Process
- Styrene Process
- Cosmetic Nail Products
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- Saudi Arabia
- South Africa
- Rest of Middle East and Africa
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Key Development in the Market:
- In November 2017, DEZA a.s. announced that they have acquired Blachownia S. A through which they can strengthen their position in the light aromatic hydrocarbon market. This acquisition will help the company to increase their production capabilities of toluene and benzole. This will stabilize the company’s economy and assist them to produce more advanced products
Global toluene 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 toluene market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Research Methodology: Global Toluene 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 enquiry.
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
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