Aromatic Solvents Market Key Players by 2024: BASF SE, Lyondellbasell Industries N.V., Chevron Phillips Chemical Company LLC and Exxon Mobil Corporation, UOP LLC, Royal Dutch Shell plc
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Automotive application in 2015 generated a revenue of USD 540 million and is slated to record substantial growth rate over the coming seven years. For sealing, gasketing, and bonding of the various automotive parts sealants and adhesives are used, which are made up of aromatic solvents mainly.
In terms of products, aromatic solvents market is segmented into Benzene, xylene, and toluene. Toluene market is anticipated to register the highest annual growth rate of more than 3.5% over the period of 2016 to 2024., due to its prominent usage as adhesives owing to its high evaporation rate. Moreover, to increase the octane number of the fuels like gasoline, blending operation is carried out, in which toluene is being widely used.
Aromatic Solvents Market is moving at a fast pace with the focused approach of the market players to sustain in the competitive scenario. The widespread usage of this solvents in paints & coating across the various industrial and transportation applications is majorly influencing the industry growth noticeably. As per the report by Global Market Insights, Inc., “Aromatic Solvents market generated a revenue of USD 5.41 billion in 2015 and is projected to register an annual growth rate of more than 3% over the period of 2016 to 2024.” Additionally, the enormous expansion of the automotive industry will also favor aromatic solvents industry growth.
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Partial Chapter of the Table of Content
Chapter 3. Aromatic Solvents Industry Insights
3.1. Industry segmentation
3.2. Industry Size and forecast, 2013 - 2024
3.3. Industry ecosystem analysis
3.4. Industry Impact forces
3.4.1. Growth drivers
188.8.131.52. High aromatic solvents demand in paints & coatings
184.108.40.206. Growing automotive industry
220.127.116.11. Increasing aromatic solvents application in oil & gas sector
3.4.2. Industry pitfalls & challenges
18.104.22.168. Stringent government regulations
22.214.171.124. Drift towards non-aromatic and bio-based solvents
3.5. Growth potential analysis
3.6. Porter's analysis
3.7 Company market share analysis, 2015
3.8. PESTEL analysis
3.9 Pricing trends
Chapter 4. Aromatic Solvents Industry Product Insights
4.1. Global aromatic solvents market share by product, 2015 & 2024
4.2.1. Market estimates and forecast, 2013 - 2024
4.2.2. Market estimates and forecast, by region, 2013 – 2024
4.3.1. Market estimates and forecast, 2013 - 2024
4.3.2. Market estimates and forecast, by region, 2013 - 2024
4.4.1. Market estimates and forecast, 2013 - 2024
4.4.2. Market estimates and forecast, by region, 2013 – 2024
4.5.1. Market estimates and forecast, 2013 - 2024
4.5.2. Market estimates and forecast, by region, 2013 – 2024
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China and India aromatic solvents market will exhibit highest growth rate in the Asia Pacific region over the coming seven years, owing to its increasing demand from automobiles and paints & coatings sectors. Additionally, escalating infrastructure development across the Japan, China, and India will boost the aromatic solvents industry outlook.
U.S. aromatic solvents industry collected a revenue of USD 650 million in 2015 and is anticipated to record a CAGR of more than 3% over the period of 2016 to 2024, primarily driven by the product’s surging need across the pharmaceutical and oil & gas sector.
Browse Related Report @ https://www.marketwatch.com/press-release/worldwide-construction-robot-market-will-be-fiercely-competitive-by-2024-2018-09-10
The industry is highly fragmented with key market players such as UOP LLC, Exxon Mobil Corporation, Eastman Chemical Company, and Royal Dutch Shell plc sharing the business space.
About Global Market Insights
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