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Aromatic Solvents - Market Size, Growth Forecast 2020 to 2025

A new report on Aromatic Solvents market that provides a comprehensive review of this industry with respect to the driving forces influencing the market size. Comprising the current and future trends defining the dynamics of this industry vertical, this report also incorporates the regional landscape of Aromatic Solvents market in tandem with its competitive terrain.

Global aromatic solvents market is primarily driven by high product demand in paints, coatings and ink industry. Aromatic solvents such as benzene, ethylbenzene, mixed xylenes and toluene have excellent evaporation and solvency. It also forms a homogenous solution over other solvents. Paints &coatings accounted more than 50% of the 2015 global aromatic solvents market share, where these are largely used as diluents and thinners.

Aromatic Solvents Market size is likely to reach USD 7.84 billion by 2024; according to a new research report

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Volatile organic compound (VOC) content is one of the most commonly used terms in the solvent industry and poses a threat to many products due to rising health concerns. This organic chemical has high vapor pressure at room temperature and easily evaporates into the air. As a result, it causes indoor and outdoor pollution of the environment. BTX is classified as an artificial VOC source, which have harmful health disorder and are strictly directed by stringent government regulations. This may negatively impact on aromatic solvent market share by 2024. However, enduring trend towards environmental friendly chemicals, for example light aromatic fluids will boost aromatic solvents market size by 2024.

Aromatic Solvents - Market Size, Growth Forecast 2020 to 2025
Aromatic Solvents - Market Size, Growth Forecast 2020 to 2025

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As these solvents have high evaporation rate, products containing these solvents exhibit lower drying and curing times. Hence, these solvents are popularly used in lacquer paints which need stronger solvents to speed the drying process.

Key insights from the report include:

Robust automotive indicators present significant growth opportunities to adhesive &sealants, which are a prominent aromatic solvents market application. Automotive adhesives &sealants are mainly used for bonding, sealing, and gasketing the vehicle parts together while providing the structural strength. In 2015, global adhesives demand in automotive was more than 375 kilo tons, set to grow in the near future with increased automobiles sales, thus driving aromatic solvents market size.

In 2015, oilfield chemical applications were valued at over USD 400 million. Aromatic solvents are widely used as corrosion and rust inhibitors in the pipe internal protection and also performs fractional distillation in the oil &gas industry. Continuous oil &gas extraction will drive industry growth for oilfield chemicals.

Pharmaceutical applications are forecast to grow at over 2% by 2024. These solvents are usually employed during the drug formulation process and the synthesis of active excipients and substances. However, the aromatic solvents use in pharmaceuticals is limited due to toxicity, poor odor and taste.

Xylene aromatic solvents market generated revenue over USD 2 billion in 2015. It is a colorless and sweet-smelling liquid, which finds widespread application in leather, paint, rubber, printing industries.

U.S aromatic solvents market share is projected to expand at over 3% CAGR by 2024.

Asia Pacific, particularly led by China, India and Japan, aromatic solvents market size was dominant and was valued at over 2.5 billion in 2015. Robust growth in construction and automotive industry will boost regional growth.

Aromatic solvents market is fragmented. UOP LLC, Exxon Mobil, Eastman Chemical, Shell, BASF SE and Lyondellbasell are some significant industry share contributors.

Global Market Insights has segmented the aromatic solvents industry on the basis of product, application, and region:

Aromatic Solvents Product Analysis (Volume, Kilo Tons &Revenue, USD Million; 2013 - 2024)

Benzene

Toluene

Xylene

Others

Aromatic Solvents Application Analysis (Volume, Kilo Tons &Revenue, USD Million; 2013 - 2024)

Pharmaceuticals

Oilfield Chemicals

Automotive

Paints &coatings

Others

Aromatic Solvents Regional Analysis (Volume, Kilo Tons &Revenue, USD Million; 2013 - 2024)

North America

U.S.

Canada

Europe

Germany

UK

France

Spain

Italy

Asia Pacific

China

India

Japan

Australia

Indonesia

Malaysia

Latin America

Brazil

Mexico

MEA

South Africa

GCC

Major Highlights from Table of contents are listed below for quick lookup into Aromatic Solvents Market report

Chapter 1. Competitive Landscape

  • Company market share
  • Aromatic Solvents Market Competitive analysis of key market players
  • Competitive analysis of other prominent vendors

Chapter 2. Company Profiles

  • Business Overview
  • Financial Data
  • Product portfolio
  • Strategic Outlook
  • SWOT Analysis

Chapter 3. Methodology & Scope

  • Methodology
  • Initial data exploration
  • Aromatic Solvents Market Statistical model and forecast
  • Industry insights and validation
  • Aromatic Solvents Market Scope
  • Definition
  • Methodology and forecast parameters
  • Data Sources

Chapter 4. Executive Summary

  • Aromatic Solvents industry 360º synopsis - 2025
  • Aromatic Solvents Business trends
  • Region trends

Chapter 5. Aromatic Solvents industry Insights

  • Aromatic Solvents Industry segmentation
  • Industry landscape 2025
  • Industry Pitfalls and Challenges
  • Threat of new entrants
  • Threat of substitutes
  • Aromatic Solvents Market Growth potential analysis

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