Global Aromatic Solvents Market Overview:
Aromatic Solvents are the Solvents That Contains Aromatic Hydrocarbon Such As Toluene & Benzene. They Are Organic Chemicals That Are Usually Used As Diluents & Chemical Intermediates In Various Industrial Processes. These Are Produced From The Distillation Of Crude Petroleum Stock. They Offer Higher Solvency Than Aliphatic Solvents.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Influencing Trend:
Increasing Usage of Aromatic in Oil & Gas Industry as Corrosion Inhibitors
Market Growth Drivers:
Growth of the Paint & Coating Industry Owing To Developments in the Construction Industry and Rise of the Automotive Sector Using Products like Adhesives & Sealants
Challenges:
Increasing Adoption of Non-Aromatic Solvents May Pose A Challenge for the Market Expansion
Restraints:
Stringent Regulations Associated With the Usage of Aromatic Solvents Owing To Their Toxic Nature
Opportunities:
There Is an Increased Opportunity for the Usage of Aromatic Solvents in Pharmaceuticals Industry and There Are Prospects for the Market Expansion, In-Cosmetics & Agriculture Sector
Competitive Landscape:
The Market For The Aromatic Solvents Is Fragmented With The Presence Of Many Players. Leading Players Can Adopt Strategies Like A Merger, Acquisition, Expansion, In Order To Gain Share Within The Market. Owing To Booming Industrialization, There Are Growing Prospects For The New Players To Enter The Market.
Some of the key players profiled in the report are BASF SE (Germany), Exxonmobil Corporation (Us), China Petroleum & Chemical Corporation (China), Royal Dutch Shell Plc (Netherlands), Lyondellbasell Industries Holdings B.V. (Netherlands), SK Global Chemical Co., Ltd. (South Korea), China National Petroleum Corporation (China), Reliance Industries Limited (India), Chinese Petroleum Corporation (Taiwan) and Total S.A. (France). Additionally, following companies can also be profiled that are part of our coverage like Reliance Industries (India), Ashland Global Specialty Chemicals Inc. (United States), Chevron Phillips Chemical Company Llc (United States), Ineos AG (United Kingdom) and Korea Petro Chemical Ind Co Ltd (South Korea). Analyst at AMA Research see United States and European Vendors to retain maximum share of Global Aromatic Solvents market by 2028. Considering Market by Function, the sub-segment i.e. Dilution Agent will boost the Aromatic Solvents market. Considering Market by Sales Channel, the sub-segment i.e. Direct Sales will boost the Aromatic Solvents market.
Latest Market Insights:
In March 2019, Singapore Based, Fortrec Completed The Acquisition Of Aromatic Solvents Refinery In Ulsan, South Korea.
In May 2017, Exxonmobil Chemical Company Announced That its Singapore Affiliate Completed Its Acquisition of One of The World’s Largest Aromatics Facilities, Jurong Aromatics Corporation, On Jurong Island in Singapore.
What Can be Explored with the Aromatic Solvents Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Aromatic Solvents Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Aromatic Solvents
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Aromatic Solvents market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Aromatic Solvents market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Aromatic Solvent Manufacturers, Dealers, & Suppliers, Regulatory & Government Organizations, Industry Associations, Research & Consulting Firm, Investors, End Users and Others.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.