Aromatic Compounds Market by Product, End User, Type, and Mode, Worldwide Forecast till 2029

Market Analysis and Insights of Aromatic Compounds Market
Data Bridge Market Research analyses that the aromatic compounds market will witness a CAGR of 5.72% for the forecast period of 2022-2029. Growth in the demand for aromatic compounds especially in the developing economies like India and China, growing use of aromatic compounds for a wide range of end user applications such as packaging, detergent and dyes, automobile, electronic devices, household goods, PVC pipes and cables and other applications, increasing investment by the government for research and development activities and surge in industrialization especially in the developing countries are the major factors attributable to the growth of the aromatic compounds market.

Aromatic compounds are cyclic organic compounds that contain alternating single and double bonds in their chemical structure. These are obtained from petroleum sources or coal tar, however, are less reactive than alkenes, making them useful industrial solvents for nonpolar compounds.

Rise in demand for aromatic compounds by the paints and coatings industry in developed and developing economies is the root cause fuelling up the market growth rate. Rising application areas for aromatic compounds such as in the pharmaceuticals and medical devices and growth and expansion of various end user industries especially in the developing economies will also directly and positively impact the growth rate of the market. Rising preference for diverse culinary lifestyles, rising expenditure for research and development proficiencies by the major companies, surging urbanization of backward areas and economies, growing focus on the technological advancements and modernization in the production techniques will further carve the way for the growth of the market.
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Aromatic Compounds Market Country Level Analysis
The aromatic compounds market is analysed and market size, volume information is provided by country, type, application and end-use as referenced above.

The countries covered in the aromatic compounds market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the aromatic compounds market owing to the increase in the research and development activities and increase in the demand from numerous end-user industries in this region. Asia-Pacific will continue to undergo substantial gains during the forecast period and register the highest CAGR owing to the high economic growth in the emerging countries, surging urbanization and industrialization, growing industrialization, and abundant availability of raw materials.

The country section of the aromatic compounds market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

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