Press release
Toluene Market Report 2019: Top Companies, Price Trends and Future Prospects Details for Business Development
According to the IMARC Group, the global toluene market reached a value of US$ 22.5 Billion in 2018. Looking forward, IMARC expects the market to reach a value of US$ 31.1 Billion by 2024, growing at a CAGR of around 5.6% during the next five years. Toluene (C7H8), also known as methylbenzene, is a colorless, water-insoluble, organic compound with a distinctive smell. The presence of benzene in toluene makes it an aromatic chemical. It exhibits several beta-oxidant, depressant, hepatoprotective, anesthetic, and neurotransmitter properties. Owing to this, toluene finds numerous applications across sectors, including construction, cosmetics, oil and gas, automotive, textile, paint and dye, food processing, and chemical processing.Get a PDF Sample for more detailed market insights: https://www.imarcgroup.com/toluene-technical-material-market-report/requestsample
Market Trends
The thriving building and construction industry accounts for a high demand for toluene, wherein it is increasingly being used as a solvent in the manufacturing of paints, glues, and coatings. Furthermore, there is an escalating utilization of toluene, as an aromatic and inflammable material, for producing nail paints, hair dyes, thinner, agrochemicals, synthetic fibers, elastomers, explosive compounds such as trinitrotoluene (TNT). Owing to this, the demand for toluene is currently escalating across the cosmetics, explosives, and petrochemical sectors. Apart from this, benzene and xylene, the derivatives of toluene, are used in the blending of petrol and serve as basic components for manufacturing styrene, which in turn has increased the demand for toluene in the oil and gas industry.
For more information about this report @ https://www.imarcgroup.com/toluene-technical-material-market-report
Market Segmentation:
Market Breakup by Technology
1. Reformation Process
2. Pigs Process
3. Coke/Coal Process
4. Styrene Process
Market Breakup by Application
1. Gasoline
2. STDP/TPX
3. Solvents
4. Trans Alkylation (TA)
5. Hydrodealkylation
6. Toluene Diisocyanate (TDI)
7. Toluene Disproportionation (TDP)
8. Others
Market Breakup by Region
1. Asia Pacific
2. North America
3. Europe
4. Middle East and Africa
5. Latin America
Some of the major players operating in the industry include:
Exxon Mobil Corporation (NYSE: XOM)
British Petroleum (NYSE: BP)
SK Group
Versalis
Compańia Espańola De Petroleos Sau
Browse related reports:
Global Aluminum Die Casting Market Report: https://www.imarcgroup.com/aluminum-die-casting-market
Global Super Absorbent Polymers (SAP) Market Report: https://www.imarcgroup.com/super-absorbent-polymers-market
Global Phytosterols Market Report: https://www.imarcgroup.com/phytosterols-market
Global Rubber Processing Chemicals Market Report: https://www.imarcgroup.com/rubber-processing-chemicals-market
IMARC Group
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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