Toluene Market Expected To Reach $23, 393 Million By 2023 | Top Key Players ExxonMobil Chemical, Sinopec, Shell, Reliance Industries, ConocoPhillips, Valero Energy, BASF, BP Chemicals

The global toluene market size is expected to reach $23, 393 million by 2023 from $16, 597 million in 2016, registering a CAGR of 5.0% from 2017 to 2023. Toluene is a clear water insoluble aromatic hydrocarbon solvent with molecular formula of C7H8. It possesses aromatic, benzene-like smell, and is a highly volatile flammable liquid with a flash point of 4°C. It is produced from petroleum and coal tar, and is used as a solvent in the manufacturing of other organic chemicals, such as benzene, xylene, and toluene diisocyanate. It is used as a solvent in paints, thinners, adhesives, and inks. Cosmetic and personal care products such as nail paints and removers containing toluene are applied to the hard, impenetrable surface of the nail where a smooth and glossy film is quickly formed upon evaporation of the solvents.

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Crude oil & natural gas contains high impurities and corrosive components, such as hydrogen sulfide, carbon dioxide, and free water, which cause deterioration of the inner walls of wells and pipelines. Continual oil & gas extraction could lead to corrosion of the internal surface of pipelines. Aromatic solvents (benzene, toluene, ethylbenzene, and mixed xylenes (BTEX)) are used as corrosion inhibitors for internal protection of pipes as well as perform fractional distillation in the oil & gas industries. Rise in demand for toluene as corrosion inhibitor in the oil & gas industry acts as a driving factor of the market.

The global toluene market is segmented based on derivative type, application, material for construction, and geography. Based on derivative type, it is classified into benzene & xylene, toluene diisocyanates, solvents, gasoline additives, and others. The bending application segment is estimated to grow at a significant CAGR of 5.2%. By technology, it is segmented into reformate process, pygas process, coke/coal process, and styrene process. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for nearly half of the share of the total revenue in 2016, followed by North America and Europe.

Key Market Players :
ExxonMobil Chemical, Sinopec, Shell, Reliance Industries, ConocoPhillips, Valero Energy, BASF, BP Chemicals, China National Petroleum, Mitsui Chemicals

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KEY BENEFITS FOR STAKEHOLDERS
• The report provides an extensive analysis of the current and emerging trends, estimations, and opportunities during the forecast period in the toluene market.
• Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
• Comprehensive regional analysis of the market based on primary and secondary sources is provided.
• Extensive analysis of the market is conducted by following product benchmarking, positioning, and monitoring the top competitors within the global market.
• The report provides extensive qualitative insights on the significant segments or regions and key insights on strategic analysis of various companies and value chain analysis of the market.

Toluene Market Key Segmentation:

By Derivative Type : Benzene & Xylene, Toluene Diisocyanates, Solvents, Gasoline Additives, Others (Benzaldehyde and Benzoic Acid)

By Production Process :
Reformate Process, Pygas Process, Coke/Coal Process, Styrene Process

By Application : Drugs,Dyes, Blending, Cosmetic Nail Products, Others (TNT, Pesticides, and Fertilizers)

By Geography Analysis :

NORTH AMERICA
7.2.1. Key Market Trends, Growth Factors, and Opportunities
7.2.2. Market Size and Forecast
7.2.3. U.S
7.2.3.1. Market size and forecast, by type
7.2.4. Canada
7.2.4.1. Market size and forecast, by type

7.25. Mexico

7.2.5.1. Market size and forecast, by type

7.3. EUROPE

7.3.1. Key Market Trends, Growth Factors, and Opportunities
7.3.2. Market Size and Forecast
7.3.3. Germany

7.3.3.1. Market size and forecast, by type

7.3.4. France

7.3.4.1. Market size and forecast, by type

7.3.5. UK

7.3.5.1. Market size and forecast, by type

7.3.6. Spain

7.3.6.1. Market size and forecast, by type

7.3.7. Italy

7.3.7.1. Market size and forecast, by type

7.3.8. Rest of Europe

7.3.8.1. Market size and forecast, by type

7.4. ASIA-PACIFIC

7.4.1. Key Market Trends, Growth Factors, and Opportunities
7.4.2. Market Size and Forecast
7.4.3. India

7.4.3.1. Market size and forecast, by type

7.4.4. China

7.4.4.1. Market size and forecast, by type

7.4.5. Japan

7.4.5.1. Market size and forecast, by type

7.4.6. Australia

7.4.6.1. Market size and forecast, by type

7.4.7. Korea

7.4.7.1. Market size and forecast, by type

7.4.8. Rest of Asia-Pacific

7.4.8.1. Market size and forecast, by type

7.5. LAMEA

7.5.1. Key Market Trends, Growth Factors, and Opportunities
7.5.2. Market Size and Forecast
7.5.3. Brazil
7.5.3.1. Market size and forecast, by type

7.5.4. KSA
7.5.4.1. Market size and forecast, by type
7.5.5. South Africa
7.5.5.1. Market size and forecast, by type
7.5.6. Rest of LAMEA
7.5.6.1. Market size and forecast, by type

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