Global Toluene Market is Set for Rapid Growth, to Reach Around USD 31.8 Billion by 2021

The report covers forecast and analysis for the toluene market on a global and regional level. According to the report, global demand for toluene was valued at over USD 25.1 billion in 2015, is expected to reach above USD 31.8 billion in 2021 and is anticipated to grow at a CAGR of slightly above 4.0% between 2016 and 2021. The study includes drivers and restraints for the market along with the impact they have on the demand over the forecast period. Additionally, the report includes study of opportunities available in the toluene market on a global level.

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Out of the total consumption of toluene, 60% is utilized in production of benzene and xylene. The market for benzene and xylene is growing with 5% of CAGR. This factor is anticipated to provide an impetus to the toluene market. Toluene market is directly depends on the growth of benzene and xylene market. Yet, volatile prices of fossil oils and introduction of new aromatic products may limit the growth of the market. The ill effects caused due to inhalation of toluene also hamper the growth of toluene market. Even so, host of applications across wide range of end users is likely to open new market avenues in the near future.

Benzyl chloride, trinitrotoluene (TNT), benzaldehyde, toluene diisocyanate (TDI), benzoic acid and other are some of the important types of toluene. Benzoic acid followed with benzyl chloride together account for the largest share of the global toluene market in terms of revenue in 2015. Industrial solvent, production of explosives, and production of benzene, gasoline additive and other are the major applications for toluene market. Industrial solvent coupled with production of benzene are fastest growing segment owing to widespread applications and strong demand from end users. Production of explosives and gasoline additives is likely to trigger the toluene market in the years to come.

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With 50% of the total share, china and U.S. leads the toluene market. China continues to gain traction due to increasing demand and rise in industrialization. North America is the fastest growing market in the forecast the period. Latin America and Middle East is expected to have sluggish market for toluene during the years to come.

In order to give the users of this report a comprehensive view on the toluene market, we have included a detailed competitive scenario, and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the toluene market has also been included, strategic development along with patents analysis is included in this report. The study encompasses a market attractiveness analysis, wherein type segments are benchmarked based on their market size, growth rate and general attractiveness.

The study provides a decisive view on the benzyl chloride, trinitrotoluene (TNT), benzaldehyde, toluene diisocyanate (TDI), benzoic acid and other are some of the important types of toluene. Industrial solvent, production of explosives, and production of benzene, gasoline additive and other are the major applications for toluene market. All the segments have been analyzed based on present and future trends and the market is estimated from 2015 to 2021. The regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America and Middle East and Africa with its further bifurcation into major countries including U.S. Germany, France, UK, China, Japan, India and Brazil.

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The report covers detailed competitive outlook including company profiles of the key participants operating in the global market. Key players profiled in the report include Shanghai Dinghan Chemical co Ltd, Shell chemicals, BASF, Exxon Mobil, BP, Reliance Industries, Dongjin Semichem co ltd and China National Petroleum Corporation among other.

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