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Aromatic Solvents Market to observe% CAGR till 2024, Key Players are ExxonMobil, Shell, BASF, LyondellBasell, Celanese, Huntsman Corporation, INEOS
Aromatic Solvents Market
Rise in exploration activities along with increased oil & gas extraction will offer lucrative growth opportunities for aromatic solvent market from oilfield chemicals applications, accounted for USD 400 million of the total market size in 2015.
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Aromatic solvents are utilized as corrosion and rust inhibitors in the pipe internal protection at large and also aid in fractional distillation processes in the oil and gas industry. U.S aromatic solvents market share is forecast to exhibit growth rate of 3% over the analysis period due to increasing product demand from oil & gas industry across the region.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. ExxonMobil
2. Shell
3. BASF
4. Eastman Chemical Company
5. UOP LIMITED
6. LyondellBasell
7. Chevron Phillips Chemical Company
8. Celanese
9. Huntsman Corporation
10. BAZAN Group Oil Refineries Ltd
11. Petrochem
12. INEOS
In general, aromatic solvents are organic chemicals that possess volatile organic content and high vapor pressure at room temperature, which allows them to easily evaporate into the air. This leads to contamination of indoor and outdoor atmosphere. Xylene also known as BTX (aromatic solvent) is classified as an artificial VOC source, that poses harmful health effects and are strictly prohibited in many industries by stringent government regulations.
This is likely to negatively impact aromatic solvent consumption. However, growing adoption of environment friendly chemicals, like light aromatic fluids will bolster aromatic solvents market outlook through 2024.
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Led by China, India and Japan, Asia Pacific aromatic solvents market share was valued at over 2.5 billion in 2015 and will remain dominant over the coming years due to expansive growth opportunities from flourishing construction and automotive industry in the region.
Major companies covered in the aromatic solvent market are Exxon Mobil Corporation, UOP LLC, Royal Dutch Shell plc, Eastman Chemical Company, BASF SE, LyondellBasell Industries N.V, Chevron Phillips Chemical Company LLC, Celanese Corporation, Huntsman Corporation, Oil Refineries Ltd., Petrochem Carless, and INEOS AG.
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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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