Precedence Research recently published a report on “Aromatic Solvents Market Size, Share and Growth Analysis (By Product: Benzene, Xylene, Toluene, and Others; By Application: Pharmaceuticals, Automotive, Oilfield Chemicals, Paints & Coatings, and Others) – Global Industry Analysis, Trends, Regional Outlook, and Forecast 2021 – 2030”. Amid the COVID-19 crisis, The global aromatic solvents market size is projected to reach USD 8.10 billion by 2027 from an estimated USD 5.50 billion in 2020, at a CAGR of 4.8% from 2021 – 2030.
The market revenue/volume with the help of widespread quantitative and qualitative insights, and forecasts of the market. This report presents breakdown of market into forthcoming and niche segments. Additionally, this research study gauges market revenue growth and its drift at global, regional, and country from 2017 to 2030. This research report evaluates aromatic solvents market on a global and regional level. It offers thorough analysis of market status, growth and forecast of the global aromatic solvents market for the period from 2017 to 2030. This research study offers historic data for the years 2017 to 2030 along with a forecast from 2020 to 2030 based on value.
Growth Factors
Strong bonding and dissolving property of aromatic solvents escalates their application in various end-use industries such as nail polish remover, paints, cleaners, varnishes, dyes, and many others, hence significantly drives the market growth for aromatic solvents. The trend for apparel customization is prominently boosting the demand for aromatic solvents in textile industries particularly in China and India.
Other than textile, packaging industry also plays a significant role in driving the market growth of aromatic solvents owing to rapid escalation in demand for food & beverage packaging. Hence, enhanced physical and chemical properties of specialty solvents and its increased application in food & beverage industry are likely to propel the market growth for aromatic solvents in the coming years. As per Smithers Pira, the global packaging industry was valued at US$ 839 billion in the year 2015 and anticipated to be approach trillion-dollar threshold by 2020.
Moreover, their application as corrosion inhibitor mainly in the oil & gas industry as well as thinner and diluents in various other industry verticals expected to escalate the market growth in the forthcoming years. Further, increasing application of chemicals and solvents in oil & gas, construction, and packaging industry is the other major factor that boosts the market for aromatic solvents.
Because of rapid urbanization especially in developing nations flourishes the growth of construction sector. As per a study conducted by PwC, the construction sector witnessed an annual growth rate of 4.5% between 2015 to 2020 in the Asia Pacific region. Further, the construction industry of China expected to overtake the USA market that is one of the most important construction markets globally.
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| Report Highlights | Details |
| Market Size | US$ 8.10 Billion by 2030 |
| Growth Rate | CAGR of 4.8% from 2021 to 2030 |
| Base Year | 2020 |
| Historic Data | 2017 to 2020 |
| Forecast Period | 2021 to 2030 |
| Segments Covered | Product, Application |
| Regional Scope | North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA) |
| Companies Mentioned | Exxon Mobil Corporation, China Petroleum & Chemical Corporation, SK Global Chemical Co., Ltd., BASF SE, Royal Dutch Shell PLC, Lyondellbasell Industries Holdings B.V., Reliance Industries Limited (RIL), China National Petroleum Corporation (CNPC), Chinese Petroleum Corporation (CPC) |
Report Highlights
Scope of the Study
This aromatic solvents market report studies market dynamics, status and outlook especially in North America, Europe and Asia-Pacific, Latin America, Middle East and Africa. This research report offers scenario and forecast (revenue/volume), and categorizes market by players, type, application, and region. This report also studies global market prominence, competitive landscape, market share, growth rate market dynamics such as drivers, restraints and opportunities, and distributors and sales channel.
This research study also integrates Industry Chain analysis and Porter’s Five Forces Analysis. Further, this report offers competitive scenario which comprises collaborations, market concentration rate and expansions, mergers & acquisitions undertaken by companies.
Regional Snapshots
Among all geographic regions, the Asia Pacific emerged as the front-runner in the global aromatic solvents market both in terms of revenue share as well as growth rate. The prime factors attributed to the prominent growth of the region are rapid growth in urbanization and industrialization. This has significantly escalated various sectors such as construction, packaging, oil & gas, paints & coatings, and many other industries.
Packaging industry is one of the significant revenue contributors to the Asian aromatic solvents market as the Asia Pacific accounted to hold 40% of global share in packaging industry. As per Canadian Research Institute, Asian Packaging industry holds significant potential for future growth owing to largest consumer base across the world. In emerging nations, such as Brazil, India, and China, the affluent middle-class population is growing rapidly, and thus consumption is also growing along with prosperity. As per statistics, population in the Asia Pacific was accounted for only 28.46% of world in the year 2013 that was less compared to Europe, whereas the regions jumped to a share of 53.55% in 2020 that is more than half of the overall world’s population.
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Key Players:
This report also provides detailed company profiles of the key market players. This research report also highlights the competitive landscape of the aromatic solvents market and ranks noticeable companies as per their occurrence in diverse regions across globe and crucial developments initiated by them in the market space. This research study also tracks and evaluates competitive developments, such as collaborations, partnerships, and agreements, mergers and acquisitions; novel product introductions and developments, promotion strategies and Research and Development (R&D) activities in the marketplace. The competitive profiling of these players includes business and financial overview, gross margin, production, sales, and recent developments which can aid in assessing competition in the market.
Some of the prominent players in the aromatic solvents market include:
Segments Covered in the Report
By Product Type
By Application Type
By Regional Outlook
Key Takeaways
TABLE OF CONTENT
Chapter 1. Introduction
1.1. Research Objective
1.2. Scope of the Study
1.3. Definition
Chapter 2. Research Methodology
2.1. Research Approach
2.2. Data Sources
2.3. Assumptions & Limitations
Chapter 3. Executive Summary
3.1. Market Snapshot
Chapter 4. Market Variables and Scope
4.1. Introduction
4.2. Market Classification and Scope
4.3. Industry Value Chain Analysis
4.3.1. Raw Material Procurement Analysis
4.3.2. Sales and Distribution Channel Analysis
4.3.3. Downstream Buyer Analysis
Chapter 5. Market Dynamics Analysis and Trends
5.1. Market Dynamics
5.1.1. Market Drivers
5.1.2. Market Restraints
5.1.3. Market Opportunities
5.2. Porter’s Five Forces Analysis
5.2.1. Bargaining power of suppliers
5.2.2. Bargaining power of buyers
5.2.3. Threat of substitute
5.2.4. Threat of new entrants
5.2.5. Degree of competition
Chapter 6. Competitive Landscape
6.1.1. Company Market Share/Positioning Analysis
6.1.2. Key Strategies Adopted by Players
6.1.3. Vendor Landscape
6.1.3.1. List of Suppliers
6.1.3.2. List of Buyers
Chapter 7. Global Aromatic Solvents Market, By Product
7.1. Aromatic Solvents Market, by Product Type, 2021-2030
7.1.1. Benzene
7.1.1.1. Market Revenue and Forecast (2017-2030)
7.1.2. Xylene
7.1.2.1. Market Revenue and Forecast (2017-2030)
7.1.3. Toluene
7.1.3.1. Market Revenue and Forecast (2017-2030)
7.1.4. Others
7.1.4.1. Market Revenue and Forecast (2017-2030)
Chapter 8. Global Aromatic Solvents Market, By Application
8.1. Aromatic Solvents Market, by Application, 2021-2030
8.1.1. Pharmaceuticals
8.1.1.1. Market Revenue and Forecast (2017-2030)
8.1.2. Automotive
8.1.2.1. Market Revenue and Forecast (2017-2030)
8.1.3. Oilfield Chemicals
8.1.3.1. Market Revenue and Forecast (2017-2030)
8.1.4. Paints & Coatings
8.1.4.1. Market Revenue and Forecast (2017-2030)
8.1.5. Others
8.1.5.1. Market Revenue and Forecast (2017-2030)
Chapter 9. Global Aromatic Solvents Market, Regional Estimates and Trend Forecast
9.1. North America
9.1.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.3. U.S.
9.1.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.1.4. Rest of North America
9.1.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.1.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2. Europe
9.2.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.3. UK
9.2.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.4. Germany
9.2.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.5. France
9.2.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.2.6. Rest of Europe
9.2.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.2.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.3. APAC
9.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.3. India
9.3.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.4. China
9.3.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.5. Japan
9.3.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.3.6. Rest of APAC
9.3.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.3.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.4. MEA
9.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.3. GCC
9.4.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.4. North Africa
9.4.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.4.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.5. South Africa
9.4.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.4.6. Rest of MEA
9.4.6.1. Market Revenue and Forecast, by Product (2017-2030)
9.4.6.2. Market Revenue and Forecast, by Application (2017-2030)
9.5. Latin America
9.5.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.3. Brazil
9.5.3.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.3.2. Market Revenue and Forecast, by Application (2017-2030)
9.5.4. Rest of LATAM
9.5.4.1. Market Revenue and Forecast, by Product (2017-2030)
9.5.4.2. Market Revenue and Forecast, by Application (2017-2030)
Chapter 10. Company Profiles
10.1. Exxon Mobil Corporation
10.1.1. Company Overview
10.1.2. Product Offerings
10.1.3. Financial Performance
10.1.4. Recent Initiatives
10.2. China Petroleum & Chemical Corporation
10.2.1. Company Overview
10.2.2. Product Offerings
10.2.3. Financial Performance
10.2.4. Recent Initiatives
10.3. SK Global Chemical Co., Ltd.
10.3.1. Company Overview
10.3.2. Product Offerings
10.3.3. Financial Performance
10.3.4. Recent Initiatives
10.4. BASF SE
10.4.1. Company Overview
10.4.2. Product Offerings
10.4.3. Financial Performance
10.4.4. Recent Initiatives
10.5. Royal Dutch Shell PLC
10.5.1. Company Overview
10.5.2. Product Offerings
10.5.3. Financial Performance
10.5.4. Recent Initiatives
10.6. Lyondellbasell Industries Holdings B.V.
10.6.1. Company Overview
10.6.2. Product Offerings
10.6.3. Financial Performance
10.6.4. Recent Initiatives
10.7. Reliance Industries Limited (RIL)
10.7.1. Company Overview
10.7.2. Product Offerings
10.7.3. Financial Performance
10.7.4. Recent Initiatives
10.8. China National Petroleum Corporation (CNPC)
10.8.1. Company Overview
10.8.2. Product Offerings
10.8.3. Financial Performance
10.8.4. Recent Initiatives
10.9. Chinese Petroleum Corporation (CPC)
10.9.1. Company Overview
10.9.2. Product Offerings
10.9.3. Financial Performance
10.9.4. Recent Initiatives
10.10. Total S.A.
10.10.1. Company Overview
10.10.2. Product Offerings
10.10.3. Financial Performance
10.10.4. Recent Initiatives
Chapter 11. Research Methodology
11.1. Primary Research
11.2. Secondary Research
11.3. Assumptions
Chapter 12. Appendix
12.1. About Us
12.2. Glossary of Terms
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