Toluene Market Analysis to 2023 | Exxon Mobil Corporation (U.S.), Covestro AG (Germany), BP p.l.c. (U.K), China Petroleum & Chemical Corporation (China), BASF SE and Others

Toluene is a colorless, liquid, and water-insoluble. It is a mono-substituted compound, consisting of a CH3 group that is attached to a phenyl group. Toluene, also known as methylbenzene, phenylmethane and toluol, is produced primarily by reforming naphtha during the production of gasoline. Toluene is widely used as an industrial raw material and a solvent for manufacturing of many commercial products. Furthermore, it is used in the manufacturing of benzene, p-xylene for polyethylene terephthalate (PET) resins, and toluene diisocyanates (TDI) for polyurethane applications, and as a solvent. It has low volatility due to the methyl group in its chemical structure, which makes it a good octane-enhancer for motor gasoline blending.

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The north American toulene market is predicted to witness a tremendous growth on account of high consumption potential, increasing production capacities, and rising economic growth rate. In the North American region, the U.S. is predicted to be the major contributor to the regional growth of toulene market and is expected to see a significant demand during the forecast period, 2017-2023. As of 2016, the U.S accounted for the largest market share and is followed by Canada in terms of value & volume. The market is estimated to grow at a moderate CAGR due to growth in the polymer production segment.

Regional Analysis

The global toulene market consists of five regions: Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa. Among these, Asia Pacific is predicted to grow at the highest CAGR during the review period, 2017 to 2023 on account of expanding oil & gas industry. The demand for toulene is predicted to surge in numerous countries of the Asia Pacific such as China, India, Japan, Thailand and Indonesia due to high adoption rate by the crude oil producers. Moreover, the presence of tremendous oil & gas reserves in this region is predicted to reduce the raw material demand gap and propel the growth of the market.

Global Top 10 Key Players

Some of the prominent players operating in the global toulene market are Exxon Mobil Corporation (U.S.), Covestro AG (Germany), BP p.l.c. (U.K), China Petroleum & Chemical Corporation (China), BASF SE (Germany), Royal Dutch Shell plc (the Netherlands), Formosa Chemicals & Fibre Corporation (Taiwan), Indian Oil Corporation Ltd (India), The Dow Chemical Company (U.S), TOTAL S.A. (France), and others.

Intended Audience

Toulene manufacturers
Traders and Distributors of toulene
Production Process Industries
Potential Investors
Raw Material Suppliers
Nationalized Laboratory

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Segmentation

The global toulene market is categorized on the basis of grade, application, and region. On the basis of the grade, the market is bifurcated into commercial, nitration, and toulene diisocyantes. On the basis of the application, the toulene market is categorized into intermediates, fuel additives, foam, polymer production, solvents, and others. On the basis of the region, the market is categorized into Asia Pacific, Europe, Latin America, North America, and the Middle East & Africa.

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