Aromatic Solvents Market Size | Industry Trends, Growth & Forecast 2024-2031 | Top key players - Royal Dutch Shell Plc, SK Chemical Co., Ltd, Exxon Mobil Corporation.

The Global Aromatic Solvents Market reached USD 5.1 billion in 2022 and is expected to reach USD 6.2 billion by 2031, exhibiting a CAGR of 2.4% during the forecast period (2024-2031).

Aromatic Solvents Market report, published by DataM Intelligence, provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. Committed to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Through a combination of qualitative and quantitative research methods, it offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.

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The Aromatic Solvents Market focuses on hydrocarbon-based solvents containing aromatic rings, such as toluene, xylene, and benzene, used in paints, coatings, adhesives, printing inks, and chemical processing. These solvents offer high solvency power and evaporation rates. Market growth is driven by rising demand in construction, automotive, and pharmaceutical industries, along with advancements in sustainable solvent formulations.

List of the Key Players in the Aromatic Solvents Market:

Royal Dutch Shell Plc, SK Chemical Co., Ltd, Exxon Mobil Corporation, Celanese Corporation, Eastman Chemical Company, LyondellBasell, Chevron Phillips Chemical Company, BASF SE, Total S.A. and Pon Pure Chemicals.

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Industry Development:

In April 2022, Solvay introduced Rhodiasolv IRIS, a new-generation eco-friendly solvent. Initially produced in China, its production was scheduled to begin at Solvay's Melle facility in France in 2023, highlighting the company's commitment to sustainable chemistry.

In February 2021, Hengyi Industries implemented Honeywell UOP's reforming and aromatics technology at its integrated petrochemical facility in Pulau Muara Besar, Brunei. The plant, with a processing capacity of 200,000 barrels per day, underscores the growing investment in petrochemical conversion technology due to the rising demand for paraxylene in Asia.

Growth Forecast Projected:

The Global Aromatic Solvents Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.

Research Process:

Both primary and secondary data sources have been used in the global Aromatic Solvents Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

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Segment Covered in the Aromatic Solvents Market:

By Type: Toluene Solvents, Xylene Solvents, Ethylbenzene Solvents.

By Application: Paints & Coatings, Printing Inks, Adhesives, Transportation, Cleaning & Degreasing.

Regional Analysis for Aromatic Solvents Market:

The regional analysis of the Aromatic Solvents Market covers key regions including North America, Europe, Asia Pacific Middle East and Africa and South America. The North America with a focus on the U.S., Canada, and Mexico; Europe, highlighting major countries like the U.K., Germany, France, and Italy, along with other nations in the region; Asia-Pacific, covering India, China, Japan, South Korea, and Australia, among others; South America, with emphasis on Colombia, Brazil, and Argentina; and the Middle East & Africa, which includes Saudi Arabia, the U.A.E., South Africa, and other countries. This comprehensive regional breakdown helps identify unique market trends and growth opportunities specific to each area.

⇥ North America (U.S., Canada, Mexico)

⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)

⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)

⇥ South America (Colombia, Brazil, Argentina, Rest of South America)

⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)

Benefits of the Report:

➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.

➡ Top-down and bottom-up approach for regional analysis

➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.

➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market

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People Also Ask:

➠ What is the global sales, production, consumption, import, and export value of the Aromatic Solvents market?

➠ Who are the leading manufacturers in the global Aromatic Solvents industry? What is their operational status in terms of capacity, production, sales, pricing, costs, gross margin, and revenue?

➠ What opportunities and challenges do vendors in the global Aromatic Solvents industry face?

➠ Which applications, end-users, or product types are expected to see growth? What is the market share for each type and application?

➠ What are the key factors and limitations affecting the growth of the Aromatic Solvents market?

➠ What are the various sales, marketing, and distribution channels in the global industry?

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