Aromatics Market |Trends, Size, Top 10 Key Players & Forecast to 2023 Industry Survey, Growth, Competitive Landscape and Forecasts to 2023
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Aromatics Market Research Report – Global Forecast to 2023
Market Overview / Study Objective / Synopsis
Aromatics are used in a wide variety of applications, which is capable of offering versatile nature, safety, and high performance to the product. Thus, they are used in various applications such as pharmaceuticals, automotive, paints & coating, oil & gas, chemicals, and others. The global aromatics market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the global market and is projected to continue leading, owing to the increasing consumption of aromatics in automotive, pharmaceuticals, paints & coatings, chemical, and others.
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Aromatics Market Research Report – Global Forecast to 2023
Competitive Analysis
The market by application is segregated into pharmaceuticals, automotive, paints & coating, oil & gas chemicals, and others. The paints & coatings segment is projected to expand at a significant rate due to extensive consumption of product as intermediates and solvent in end-use applications. Moreover, the automotive industry is projected to grow at a higher rate owing to its growing consumption of aromatics in body bumpers, lighting, dashboard, seats, upholstery, fuel systems, and others are projected to drive the aromatics market due to its excellent performance and bio-compatible nature offered by the product.
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Aromatics Market Research Report – Global Forecast to 2023
Top 10 Global key Players & Their Strategy
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Eastman Chemical Company (U.S.) Ashland (U.S.), BASF SE (Germany), Huntsman Corporation (U.S.), Celanese Corporation (U.S.), Petrochem Carless Ltd.(U.K.), INEOS (Switzerland), The ExxonMobil Corporation (U.S.), Royal Dutch Shell plc(the Netherlands) Honeywell International Inc. (U.S.) among others.
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Aromatics Market Research Report – Global Forecast to 2023
Segmentation Analysis
The global aromatics market is segmented into type and application. On the basis of product, the market is segregated into benzene, toluene, o-xylene, p-xylene, and rubber segments. The market by application is further categorized into paints & coating, automotive, pharmaceuticals, oil & gas, chemicals, and others.
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Aromatics Market Research Report – Global Forecast to 2023
Regional Analysis
The North American region is growing significantly due to growing demand for toluene and benzene products in automotive, paints & coatings, and other industries. It is predicted that growing investments in the end-use industries is likely to drive the market during the forecast period. The growing consumption of products in end-use industries has propelled the growth in countries such as the U.S, Canada, and Mexico to achieve a stunning growth in the market because they provide unique reliable nature, safety, and high performance to the product.
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