Comprehensive historical analysis of Global Market for Aromatic Solvents has thoroughly analyzed in this report. It offers data and insights from 2019-2022, and provides extensive market forecasts from 2023-2032 by region/country and subsectors. It covers the price, sales volume, revenue, historical growth, gross margin, and future outlooks for the Aromatic Solvents market.
The Global Aromatic Solvents Market Size is Expected to reach USD 6.75 Billion by 2030, at a CAGR of 3.4% during the forecast period 2022 to 2030.
The report includes growth prospects in the global Aromatic Solvents market by type, application, sub segement and region and QMI has compiled a comprehensive detailed research report to offer insights. The report details consumption in the Advanced Materials and other sectors. Regional coverage spans North America, Europe, and rest of the world including Asia Pacific.
What Are Aromatic Solvents?
Aromatic solvents are organic chemicals that contain an aromatic ring in their molecular structure. These solvents are valued for their ability to dissolve various chemical compounds efficiently. Common types include:
-
Toluene
-
Xylene (ortho, meta, para)
-
Ethylbenzene
-
Cumene
Due to their excellent solvency, they are commonly used in industrial degreasing, formulations for paints and coatings, and as intermediates in chemical synthesis.
List of Key Market Players:
- China Petroleum & Chemical Corportaion
- Exxonmobil
- Total
- BASF
- Shell
- Chevron Phillips Chemical
- Formosa Chemicals & Fibre Corporation
- Lyondellbasell Industries Holdings
- China National Petroleum Corporation (CNPC)
- Reliance Industries
- Chinese Petroleum Corporation (CPC)
- Bharat Petroleum Corporation
- Gotham Industries
- Haltermann Carless
- Indian Oil Corporation
- Pon Pure Chemicals Group
- Recochem
- W.M. Barr & Company
- Others
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Market split by Segement, can be divided into:
By Type
- Benzene
- Toluene
- Xylene
- Others
By Application
- Pharmaceuticals
- Oilfield Chemicals
- Automotive
- Paints & Coatings
- Others
Market Growth Drivers
-
Booming Paints & Coatings Industry
Aromatic solvents are widely used in architectural, automotive, and industrial coatings due to their effectiveness in dissolving binders and pigments. -
Rising Demand from Oil & Gas Sector
These solvents are utilized in oilfield chemicals, especially in drilling and production operations, driving demand in regions with strong upstream activity. -
Adhesives and Sealants Expansion
With the rise in construction and infrastructure projects globally, aromatic solvents are crucial in producing adhesives and sealants with the desired viscosity and application properties. -
Industrialization in Emerging Economies
Countries in Asia-Pacific, Latin America, and the Middle East are experiencing rapid industrial growth, which is boosting demand for solvents in manufacturing processes.
Sustainability and Regulatory Challenges
Despite their effectiveness, aromatic solvents face growing scrutiny due to environmental and health concerns. Many of them are classified as volatile organic compounds (VOCs), contributing to air pollution and posing occupational health risks. This has led to:
-
Stricter regulations in Europe and North America.
-
A push toward low-VOC or VOC-free alternatives.
-
Increased research in bio-based solvents as replacements.
Future Outlook
The future of the aromatic solvents market lies in balancing performance efficiency with eco-friendly innovation. While demand will remain strong in traditional sectors, companies that lead in developing safer, more sustainable formulations will be best positioned to thrive in the evolving regulatory and environmental landscape.
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In January 2021, Neos Group Ltd., a UK-based manufacturer of chemicals, paid BP plc USD 5 billion to purchase its global Aromatics & Acetyls division. This purchase will strengthen Ineos's position in the worldwide market, advance its petrochemical business, and broaden its reach internationally.
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Whats covered in the report?
1. Overview of the Aromatic Solvents market.
2. The current and forecasted regional (North America, Europe, Asia-Pacific, Latin America, the Middle East and Africa) market size data for the Aromatic Solvents market, based on segement.
3. Aromatic Solvents Market trends.
4. Aromatic Solvents Market drivers.
5. Analysis of major company profiles.
Reasons to buy this Market Report:
1. Save time carrying out entry-level research by identifying the size, growth, and leading players in the emerging Aromatic Solvents market.
2. Use the SWOT analysis to determine the competitive intensity and therefore attractiveness of the emerging Aromatic Solvents Industry.
3. Leading company profiles reveal details of key Aromatic Solvents market players emerging five operations and financial performance.
4. Add weight to presentations and pitches by understanding the future growth prospects of the emerging Aromatic Solvents market with five year historical forecasts.
5. Compares data from North America, South America, Asia Pacific Europe and Middle East Africa, alongside individual chapters on each region.
6. Extensive information on factors that will amplify the growth of the Aromatic Solvents market over the upcoming seven years
7. Accurate estimation of the global Aromatic Solvents market size
8. Exact estimations of the upcoming trends and changes observed in the consumer behavior
9. Growth of the global Aromatic Solvents market across the North & South America, EMEA, Asia Pacific, and Latin America
10. Information about Aromatic Solvents market growth potential
11. In-depth analysis of the industry’s competitive landscape and detailed information vis-a-vis on various vendors
12. Furnishing of detailed information on the factors that will restrain the growth of the Aromatic Solvents market
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