Aromatic Solvents Market Key Analysis by Type, Application (Paints & Coatings, Printing Inks, Adhesives, Metal Cleaning), Region to 2023

The aromatic solvents market is projected to register a CAGR of 2.66%

The aromatic solvents market is projected to grow from USD 7.27 billion in 2018 to USD 8.29 billion by 2023, at a CAGR of 2.66% during the forecast period. The growth in the automotive and construction industries is expected to drive the demand for aromatic solvents during the forecast period. The harmful effects of aromatic solvents act as a challenge for the market growth.

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The paints & coatings application is expected to lead the aromatic solvents market during the forecast period, in terms of both value and volume

By application, the paints & coatings segment is expected to lead the aromatic solvents market during the forecast period. This is due to the demand for construction chemicals in the paints & coatings application. In addition, the rapid growth in population and the growing automotive industry in the region are expected to boost the aromatic solvents market in the paints & coatings application. In addition, the growth of the automotive, OEM, machinery, and appliances markets, globally are expected to drive demand for aromatic solvents in this application during the forecast period.

Asia Pacific is projected to lead the aromatic solvents market between 2018 and 2023, in terms of both value and volume

Objectives of the report are as follows:
• To define, describe, and forecast the market size of aromatic solvents, in terms of value and volume
• To provide detailed information regarding the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market
• To estimate and forecast the market size by product type, application, and region
• To forecast the size of the market with respect to five main regions, namely, North America, Europe, Asia Pacific (APAC), South America, and the Middle East & Africa
• To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
• To track and analyze recent developments such as expansions and acquisitions in the market
• To strategically profile the key market players and comprehensively analyze their core competencies

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The aromatic solvents market has been studied for North America, Europe, Asia Pacific, South America, and the Middle East &Africa. The Asia Pacific region is expected to lead the aromatic solvents market during the forecast period ,owing to the increased manufacturing base of aromatic solvents in the economies such as China, India, and South Korea. In addition, rapid industrialization and urbanization accompanied by the rising demand for automobiles are expected to contribute to the growth of the aromatic solvents market in the region. The rapid growth in building & construction activities is also expected to drive the demand for aromatic solvents in the paints & coatings application.

Target Audience:
1. Industrial aromatic solvent manufacturers, dealers, and suppliers
2. Government bodies
3. End users
4. Feedstock suppliers
5. Large infrastructure companies
6. Investment banks
7. Consulting companies/consultants in chemical and material sectors
8. Industry associations
9. Research and consulting firms

Breakdown of Primaries:

Primary interviews have been conducted with a number of industry experts to obtain information related to the aromatic solvents market.

The breakdown of primary interviews has been depicted below:
• By Company Type: Tier 1 - 31%, Tier 2 - 46%, and Tier 3 - 23%
• By Designation: C-Level Executives- 11%, Directors- 22%, and Others - 67%
• By Region: Asia Pacific - 56%, North America – 22%, Europe - 11%, and RoW- 11%

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Key companies supplying aromatic solvents are:
1. China Petroleum and Chemical Corporation (China),
2. Royal Dutch Shell Plc. (Netherlands)
3. BASF SE(Germany)
4. ExxonMobil Corporation (US)
5. LyondellBasell Industries Holdings B.V. (Netherlands)
6. SK Global Chemical Co., Ltd. (South Korea)
7. China National Petroleum Corporation (China)
8. Reliance Industries Limited (India)
9. Chinese Petroleum Corporation (Taiwan)
10. Total S.A. (France)

Key Reasons to Buy the Report:

This report is expected to help leaders/new entrants in the aromatic solvents market in the following ways:

Provide a better understanding of the aromatic solvents market

Provide information on the drivers, restraints, challenges, and opportunities influencing the growth of the aromatic solvents market

Gain insights regarding competitors and their positions in the aromatic solvents market

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This release was published on openPR.