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Toluene Market Top Key Players: BASF SE, Borsodchem, Petroquimica Rio Tercero, Reliance industries, Mitsui Chemicals, Inc, Braskem SA Royal Dutch Shell, Vencorex, SK Innovations, China Petroleum and Chemical Corporation, China National Petroleum Corporati

Global Market Insights, Inc.

Global Market Insights, Inc.

The major restraints for the toluene market are the rising demand for diesel against gasoline and the limitation in toluol sourcing. Further the product is not preferred by many industries due to its intoxicating effects. There are no health benefits of the product and often used by the youngsters for recreational purpose because of its easy availability. Inhalation of the product from low to moderate levels causes memory loss, weakness, tiredness, nausea, confusion, drunken-type actions, loss of appetite, color vision loss and hearing loss. Prolong exposure to the vapors can cause effects on lungs, kidneys, liver and central nervous system.The product causes water and soil contamination when released in excess. High concentration is dangerous to the aquatic life.

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Rising demand for industrial feedstock and solvents will further boost the market for the product. Formula one cars use toluene as an anti-knock fuel since it does not burn at low temperatures and provide high octane rating. Other application segments include, manufacturing of explosives, dyes and cosmetic nail products.

Growing use of toluene (toluol) in end use industries such as, automotive, oil & gas and building & construction owning to its properties as a solvent, is projected to fuel toluene market. The product is a common solvent for paint thinners, paints, rubber, printing ink.

Toluene market is highly dependent on benzene and xylene market as it is being used in their synthesis process, rising demand of benzene and xylene and its derivatives like Polyethylene Terephthalate (PET), cumene and Polystyrene (PS) will boost toluene market growth both in terms of revenue and volume.

Toluol is an inflammable, volatile, colorless liquid with odor which resembles that of a paint thinner and known by different trade names which includes methylbenzene, methacide, phenyl methane, antisal and toluol. The product is found naturally in crude oils and tolu trees. The product is mainly used in manufacturing of industrial and commercial products. It is produced while manufacturing coke from coal, gasoline and other fuels from crude oils.

Toluene exists in many forms which include benzyl chloride, trinitrotoluene (TNT), benzaldehyde, toluene diisocyanate (TDI) and benzoic acid. The TDI sector is projected as the fastest growing market during the forecast time frame owing to its use in the production of PU foams which are used in automotive industries for insulating applications and lowering fuel emissions.

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Asia-Pacific, led by China, is the world’s major toluol consumer. The increasing investments and number of manufacturing establishments in the region will be the key driver for growth of toluene market. The growing petrochemical industry in the region is further expected to drive the product market.

North America is the fastest growing market for the product both in terms of volume and value. The growing end user base for the product in end-use industries which includes oil & gas, building & construction and transportation industry will lead to the rising demand for the product. The discovery of shale gas in U.S. will drive the toluene market.

European Union will witness steady growth owing to increasing demand of the product in the electronics segment. Interiors & furniture and bedding & mattresses are projected to be the major end-user segments for the toluene market.

Key players for the toluene market include BASF SE, Borsodchem, Petroquimica Rio Tercero, Reliance industries, Mitsui Chemicals, Inc, Braskem SA Royal Dutch Shell, Vencorex, SK Innovations, China Petroleum and Chemical Corporation, China National Petroleum Corporation, Indian Oil Corporation Limited, Formosa Chemical & Fiber Corporation, Exxon Mobil Corporation, Covestro AG, GS Caltex and CPC Corporation.

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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Global Market Insights, Inc.
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