About Toulene
Toluene is a colorless, water-insoluble liquid aromatic hydrocarbon. Toluene naturally occurs in crude oil and at low levels. It is used for making paints, paint thinners, fingernail polish, lacquers, and leather tanning processes. It is also used for the production of fuels and blending components in gasoline. Toluene has several advantages, such as its high-octane number and low volatility; it blends easily with other inexpensive materials. The increasing growth of the automotive industry can drive this market.The major use of toluene is as a mixture added to gasoline to improve octane ratings which is a figure indicating the anti-knock properties of a fuel. It is also used for the production of fuels.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
CAGR | 6.1% |
Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Toulene market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
China Petroleum & Chemical Corporation (China), China National Petroleum Corporation (China), Exxon Mobil Corporation (United States), Covestro AG (Germany), BP P.L.C. (United Kingdom), SK Innovations (South Korea), BASF SE (Germany), GS Caltex (South Korea), Formosa Chemical & Fiber Corporation (Taiwan), Royal Dutch Shell (Netherlands) and CPC Corporation (Taiwan) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Indian Oil Corporation Ltd (India), The Dow Chemical Company (United States) and TOTAL S.A. (France).
Segmentation Overview
AMA Research has segmented the market of Global Toulene market by , Application (Solvents, Chemical Intermediates, Gasoline Blending and Others) and Region.
On the basis of geography, the market of Toulene has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Industrial Vertical, the sub-segment i.e. Paint and Coating Industry will boost the Toulene market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Production Process, the sub-segment i.e. Reformate Process will boost the Toulene market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Grade, the sub-segment i.e. TDI Grade will boost the Toulene market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Derivative Type, the sub-segment i.e. Benzene & Xylene will boost the Toulene market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Emphasizing On Production of Toluene from Shale Gas and Increasing Application of Toluene in Dyes Industry
Market Growth Drivers:
Growing construction and infrastructure projects and Increasing Demand of Toluene for Production of Polymers
Challenges:
Toluene release into the environment can caused air pollution and Evolving environmental regulation such as, emission standard and health guidelines
Restraints:
Stringent Government Regulations Regarding Chemical Manufacturing and Limited Availability of Toluene’s Sources
Opportunities:
Innovation in production process and cost-effective methods for toluene production and Increasing research and development of environment freely alternatives.
Market Leaders and their expansionary development strategies
In October 2023, Mitsubishi chemical had acquired CPC SRL a well-known Italian carbon fiber composite automotive parts and distribution company. In this acquisition will expand product portfolio.
In September 2022, Covestro has launched the polyether polyols using biobased feedstock. Company has offering renewable1 toluene diisocyanate (TDI) and methylene diphenyl diisocyanate (MDI) for the production of polyurethane foams.
Key Target Audience
Toulene Manufacturers, Traders and Distributors of Toulene, Production Process Industries, Potential Investors, Raw Material Suppliers, Nationalized Laboratory, Government Organizations, Market Research Firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.