Toluene Market was valued US$ 23.32 Bn in 2018 and is estimated to reach US$ XX Bn by 2026 at a CAGR of about XX % during a forecast.
Rapid use of toluene as solvent in paints & coatings, rising demand for efficient gasoline, increasing demand for chemical intermediates made from toluene such as benzene and xylene, increasing automobile production and sales along with rising consumption of lubricants are driving the growth of the market.
Implementation of strict regulations by various government bodies has restricted the use of toxic organic chemicals used in the production of toluene solvent, which is predicted to restrain the growth of the market. Fluctuating crude oil prices, demand for other aromatic products and long term exposure to toluene has detrimental effect on central nervous system and can also harm the human brain these factor are restraining the market growth.
Benzene & xylene, toluene diisocynates, benzaldehyde and other are major derivative of toluene. Among these benzene and xylene occupies XX% share followed by toluene diisocynates. Toluene diisocynates are projected to be fastest growing segment. Xylenes are used as solvents and antiknock agents in gasoline and as an intermediate in synthetic reactions.
Benzene is used to make plastics, resins, synthetic fibers, rubber lubricants, dyes, detergents, drugs and pesticides. Toluene diisocyanate is a chemical used in the production of polyurethanes and for manufacture of coatings, sealants, adhesives and elastomers. Gasoline additives increase gasolines octane rating or act as corrosion inhibitors or lubricants.
Toluene is used as drug, solvent, blending agents and colorant. Toluene is used in paints, thinners, lacquers, glues, correction fluid, and nail polish remover. For that reason, Toluene as a solvent dominates the market followed by blending agent segment. In leather industry toluene is used for tanning processes and printing processes.
In biochemistry sector toluene is used to extract hemoglobin by breaking or disrupting red blood cells. Toluene used in explosives industry in the manufacture of flammable & explosive compounds, such as Trinitrotoluene. Types of additives include metal deactivators, corrosion inhibitors, oxygenates and antioxidants.
North America, Europe, Asia Pacific, Middle East & Africa and Latin America are regional segments of toluene market. Asia pacific is predicted to grow at XX% CAGR owing to increased demand from gasoline additive industry. Asia Pacific market is followed by North America and Europe. China, U.S. and South Korea are major producer of toluene.
The key players operating in the Global Toluene Market are ExxonMobil Chemical, Sinopec, Shell, Reliance Industries, ConocoPhillips, Valero Energy, BASF, BP Chemicals, China National Petroleum and Mitsui Chemicals Koch Industries, JX Nippon Oil and Energy, Chevron Phillips, Nova Chemicals, Sherwin-Williams, Total Petrochemicals, Lyondell Basel, Covestro, and Formosa Plastics are
The objective of the report is to present comprehensive analysis of Toluene market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language.
The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Toluene market dynamics, structure by analyzing the market segments, and project the Toluene market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Toluene market make the report investor’s guide.
Scope of the Toluene Market Report
Toluene Market, by Derivative Type:
• Toluene Diisocynates
Toluene Market, by Application Type
• Blending Agent
• Industrial Solvent
Toluene Market, by Region:
• North America
• Asia Pacific
• Middle East & Africa
• Latin America
Key Player Analysed In The Toluene Market:
• ExxonMobil Chemical
• Reliance Industries
• Valero Energy
• BP Chemicals
• China National Petroleum
• Mitsui Chemicals
• Koch Industries
• JX Nippon Oil and Energy
• Chevron Phillips
• Nova Chemicals
• Total Petrochemicals
• Lyondell Basel
• Formosa Plastics.
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