Aromatic Solvents Market Report (2020-2026) | The demand for the Market will drastically increase in the Future...

Expansion, new product launches, growth in various industries like packaging, automotive, oil & gas, increasing strategic developments such as partnerships and agreements, and rise in building and construction activities are the key factors contributing to high CAGR of Aromatic Solvents Market during forecast period.

Market Size - USD 7.3 Billion in 2018, Market Growth - CAGR of 2.6%, Market Trends - Product launches and research for advanced Aromatic Solvents

The global Aromatic Solvents market was valued at USD 7.3 Billion in 2018 and is expected to reach USD 9.06 Billion by year 2026, at a CAGR of 2.60%. Aromatic solvents are characterized by their solvating ability. This type of product is highly refined and completely lacks aliphatic components. Aromatic products generally are manufactured from feedstock rich in aromatics such as the reformate. Extractive distillation and the Udex process are both procedures involving fractional distillation in the presence of a solvent as means of removing aromatic compounds. Aromatic solvents such as toluene are commonly used in paints, varnishes, adhesives and as chemical intermediates.

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Key participants include Royal Dutch Shell Plc, LyondellBasell Industries Holdings B.V, China Petroleum and Chemical Corporation, BASF SE, SK Global Chemical Co., Ltd, China National Petroleum Corporation, Reliance Industries Limited, ExxonMobil Corporation, Chinese Petroleum Corporation.

For the purpose of this report, Reports and Data has segmented the Aromatic Solvents market on the basis of type, applications, and region:

Type (Revenue, USD Million; 2016-2026)
Toluene
Xylene
Ethylbenzene solvent

Application Type (Revenue, USD Million; 2016-2026)
Cleaning and Degreasing
Printing Inks
Adhesives
Paints and coatings
Others

SOME OF THE KEY GEOGRAPHIES MENTIONED IN THIS REPORT INCLUDE:
North America (United States, Canada, Mexico)
South America (Brazil, Argentina, Ecuador, Chile)
Asia Pacific (China, Japan, India, Korea)
Europe (Germany, UK, France, Italy)
Middle East Africa (Egypt, Turkey, Saudi Arabia, Iran) and More.

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Further key findings from the report suggest

Aromatic Solvents market is growing at a CAGR of 1% in Asia Pacific followed by Middle East & Africa and South America, with 2.3 % and 2.3% CAGR, respectively. Urbanization and industrial developments across the globe is the key factor to accelerate the market growth during forecast period across all regions

Paints and coatings is expected to be the fastest growing market segment during forecast period 2019-2026 with a CAGR of 3.0%. However, associated costs issues and increasing demand and awareness for green solvents are major challenge for the market growth of this market segment.

As of 2018, Toluene is the dominating Aromatic Solvents which holds 21% of the global market. APAC regional market is the chief revenue generating source for this product segment, followed by North America and European regions

Asia Pacific is expected to account for the 45% of the total Aromatic Solvents market. Developing nations such China, South Korea and India are likely to witness high growth.

Printing Inks application type segment was valued at USD 1.73 billion and is expected reach USD 2.22 billion by 2026

Associated focus on green solvents and the stringent rules and regulations imposed by various governments is likely to hinder the market growth during the forecast period

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In conclusion, the Aromatic Solvents Market report is a reliable source for accessing the Market data that will exponentially accelerate your business. The report provides the principal locale, economic scenarios with the item value, benefit, supply, limit, generation, request, Market development rate, and figure and so on. Besides, the report presents a new task SWOT analysis, speculation attainability investigation, and venture return investigation.

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