The Aromatic Solvents Market is expected to witness market growth at a rate of 3.42% in the forecast period of 2021 to 2029.
This promotional Aromatic Solvents Market business report has covered the significant aspects which are contributing to the growth of the global Aromatic Solvents Market. The data and information about Aromatic Solvents industry are taken from reliable sources such as websites, annual reports of the companies, and journals, and then validated by the market experts. The primary objective of this business document is to highlight the various key market dynamics listed as drivers, trends, and restraints.
Aromatic Solvents Market survey offers key information about the industry, helpful and important facts and figures, expert opinions, and the latest developments across the world. This market dynamics have the potential to impact the Aromatic Solvents Market. This industry report has provided the detailed information to the audience about the way Aromatic Solvents industry has been heading since past few months and how it is going to take a shape in the years to come. The report offers a comprehensive analysis of the Aromatic Solvents Market industry. The Aromatic Solvents Market report includes data on patterns and improvements, target business sectors and materials, limits and advancements.
Aromatic Solvents Market Scope and Market Size
The aromatic solvents market is segmented on the basis of product, application and end users. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
· On the basis of product, the aromatic solvents market is segmented into benzene, toluene, xylene, and solvent naphtha.
· On the basis of application, the aromatic solvents market is segmented into paints and coatings, adhesives, printing inks, cleaning and degreasing and others.
· On the basis of end users, the aromatic solvents market is segmented into pharmaceuticals, oilfield chemicals, automotive, paints and coatings, pesticides, textiles, cleaners, chemical intermediates, electronics, adhesive and sealants, perfumes and cosmetics.
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Market Analysis and Insights - Aromatic Solvents Market
The aromatic solvents market is expected to witness market growth at a rate of 3.42% in the forecast period of 2021 to 2028. Data Bridge Market Research report on aromatic solvents market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The rise in the usage of aromatic solvent in the automotive industry and increase in demand from end user industries are factors escalating the growth of aromatic solvents market.
The aromatic solvents refer to a grade of solvents which are extensively used in various industries as they consist of aromatic hydrocarbon including xylene, naptha or toluene which makes them highly suitable. It finds numerous applications in different end user industries including oil and gas, automobiles, adhesive and sealants, textiles and paints and coatings owing to their features such as corrosion resistance and high solvency rate.
The rise in demand for these solvents from the paints and coating industry due to their high solvency property and their gaining popularity are the major factors driving the aromatic solvents market. These solvents dissolve or disperse variety of components to bring excellent pigments, extenders, additives and binders which increase their demand. The increase of their use in various end user industries especially oilfield chemical, pharmaceuticals and automotive also influence the aromatic solvents market. The increase in demand from oil and gas sector for their corrosion resistance property, high usage of solvents including xylene for the synthesis of several active pharmaceutical ingredients along with cleaning of pharmaceutical equipment and rise in product’s use as adhesive and sealants to bond vehicle parts accelerate the aromatic solvents market growth. Additionally, the rise in the consumption of aromatic solvents for drug formulation in pharmaceuticals sector positively affects the aromatic solvents market. Furthermore, the technological advancements and rapid urbanization in emerging economies extend profitable opportunities to the aromatic solvents market players in the forecast period of 2021 to 2028.
On the other hand, the implementation of stringent regulatory norms supporting the exploration of substitute due to the concerns associated with the emission of volatile organic compounds (VOCs) and the shift towards non-aromatic solvents are factors expected to obstruct the aromatic solvents market. Issues with the harmful effects of the products are projected to challenge the aromatic solvents market in the forecast period of 2021-2028.
Aromatic Solvents Market Country Level Analysis
The aromatic solvents market is analyzed and market size, volume information is provided by country, product, application and end users as referenced above.
The countries covered in the global aromatic solvents market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the aromatic solvents market due to the increase in usage of aromatic solvents in the automotive and construction sectors in the region. Europe is expected to witness significant growth in CAGR in the forecast period of 2021-2029 because of the expansion of chemical sector in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
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Key Players- Aromatic Solvents Market
The major players covered in the aromatic solvents market report are China Petrochemical Corporation, Exxon Mobil Corporation, SK global chemical Co., Ltd., Royal Dutch Shell, BASF SE, LyondellBasell Industries Holdings B.V., China National Petroleum Corporation, Reliance Industries Limited, Total, CPC Corporation, Bharat Petroleum Corporation Limited, Chevron Phillips Chemical Company LLC, Formosa Chemicals & Fibre Corp, Gotham Industries, HCS Group, Indian Oil Corporation Ltd, Pon Pure Chemicals Group, Recochem Corporation, TOP SOLVENT CO.,LTD, WM Barr among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
MAJOR TOC OF THE REPORT
· Chapter One: Introduction
· Chapter Two: Market Segmentation
· Chapter Three: Market Overview
· Chapter Four: Executive Summary
· Chapter Five: Premium Insights
· Chapter Six: Aromatic Solvents Market by product type, country, type, drug type
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