When a business seek to dominate the market or make a line in the market as a new emergent, Aromatic Solvents Market research report is always crucial. Being professional and comprehensive, this Aromatic Solvents Market report focuses on primary and secondary drivers, market share, leading segments, possible sales volume, and geographical analysis. The key factors here include industry outlook with respect to critical success factors (CSFs), industry dynamics that mainly covers drivers and restraints, Aromatic Solvents Market segmentation & value chain analysis, key opportunities, application and technology outlook, regional or geographical insight, country-level analysis, key company profiles, competitive landscape, and company market share analysis.
Aromatic solvents market is expected to reach USD 8.33 billion growing at a steady CAGR of 3.10% in the forecast period of 2020-2029. The growth of this market is attributed to the rising demand from the construction and automotive industries.
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Few of the major competitors currently working in aromatic solvents market are BASF SE, China Petrochemical Corporation, Exxon Mobil Corporation, SK global chemical Co., Ltd, Royal Dutch Shell PLC, LyondellBasell Industries Holdings B.V., China National Petroleum Corporation, Reliance Industries Limited, Total, CPC Corporation, Chevron Phillips Chemical Company and FORTREC PTE LTD among others.
Aromatic Solvents Market Drivers:
- Growing demand of these solvents in the construction, packaging, oil and gas industries drives the market growth.
- Increasing demand of aromatic solvents in paints & coatings drives the market growth.
- Rapid industrialization and urbanization in the developing regions is expected to drive the market growth.
Aromatic Solvents Market Restraints:
- Increasing focus on green solvents hampering the market growth.
- Strict rules and regulations imposed by various governments across all regions is another major restraint factor in the market growth.
Key Developments in the Aromatic Solvents Market :
- In March 2019, FORTREC PTE LTD acquired aromatic solvents refinery in Ulsan. The company has restarted the revamped facility’s activities, which has an annual production potential of 60,000 t. The plant produces FSol100, FSol150, FSol200 and Washoil aromatic solvents. This acquisition will extend the market size as well as overall revenue of the company.
Aromatic Solvents Market Scope and Market Size
Aromatic solvents market has been segmented on the basis of type, application and end-user.
- On the basis of type, aromatic solvents market is segmented into toluene solvents, xylene solvents, para-xylene, mixed xylene and ethylbenzene solvents. The toluene solvents is the dominating segment due to wide usage in several industrial and commercial applications.
- On the basis of application, aromatic solvents market is segmented into paints & coatings, adhesives, printing inks, cleaning & degreasing and others. The paints & coatings is the dominating segment with largest market share in the forecast period.
- On the basis of end-user, aromatic solvents market is segmented into pharmaceuticals, oilfield chemicals, automotive and others.
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Country Level Analysis of Aromatic Solvents Market
- On the basis of region, aromatic solvents market is segmented into North America and South America, Asia Pacific, Europe and Middle East and Africa.
- Countries covered under North and South America region are Canada, Mexico, Brazil, Rest of Americas, along with Germany, France, United Kingdom, Italy, Spain, Rest of Europe covered under Europe region and Japan, China, India, Australia, Rest of Asia-Pacific covered under Asia-Pacific region. Asia-Pacific is the dominating region with largest market share due to growing urbanization in developing countries such as China, India and South Korea in the forecast period 2020 to 2029.
- The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, disease epidemiology and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands impact of sales channels are considered while provided forecast analysis of the country data.
Aromatic solvents market competitive landscape provides details by competitors. Details included are company overview which includes Company focus, business segment, product categories, revenue generated and global presence. Aromatic solvents market report also provides information on recent financials and R&D expenditures over the years from 2020 to 2029.
Table of Content: Aromatic Solvents Market
Part 01: Executive Summary
Part 02: Scope of The Aromatic Solvents Market Report
Part 03: Global Aromatic Solvents Market Landscape
Part 04: Global Aromatic Solvents Market Sizing
Part 05: Global Aromatic Solvents Market Segmentation By Product
Part 06: Five Forces Analysis
Part 07: Aromatic Solvents Market Customer Landscape
Part 08: Geographic Landscape
Part 09: Decision Framework
Part 10: Aromatic Solvents Market Drivers And Challenges
Part 11: Aromatic Solvents Market Trends
Part 12: Vendor Landscape
Part 13: Vendor Analysis
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