Aromatics Solvents Market Size, Global Industry Share Focus on Company Profile, Top Manufactures Analysis and Opportunity Assessment 2019-2023
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Aromatics Solvents Market 2019-2023 Aromatics Solvents Market 2019 Global Industry Growth, Key Vendors Historical Analysis, Development Strategy, Sales Revenue, Competitive Landscape and by Forecast 2023 Aromatic Solvents Market: Aromatic solvents are a class of solvents that contains an aromatic hydrocarbon such as toluene, xylene or naptha. They are organic chemicals that are extensively used in wide range of end-user industries. The corrosion resistance and high solvency rate pave their way into many end-user industries such as automobiles, paints and coatings, textiles, oil and gas, adhesive & sealants among others. The demand from the end use industries is a major factor driving the growth of the global aromatic solvents market. The growing industrialization and urbanization in the developing regions throughout the globe is expected to boost the market during the forecast years. Moreover, the growing energy demand has augmented the oil and gas activities which in turn is adding to the growth of the market owing to its applications as corrosion inhibitors in the oil and gas industry. The global aromatic solvents is a lucrative market and is expected to expand at a healthy CAGR during the forecast years. This growth is mainly attributed to the increasing application of aromatic solvents in the paints and coatings industry among others.
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Aromatics Solvents Market 2019
Competitive Analysis: • Exxon Mobil Corporation • BASF SE • Eastman Chemical Company • Honeywell International Inc • Sasol Ltd • Ineos AG • Chevron Phillips Chemical Company LLC • Royal Dutch Shell plc
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Aromatics Solvents Market 2019
Regional Analysis The aromatic solvents market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be a dominant market with an exponential CAGR during the forecast period. The rapid growth of industries and urbanization is fuelling the growth of aromatic solvents in the developing countries of Asia Pacific. Moreover, the favorable government regulation in the region has attracted many industry players to enter the lucrative market of Asia Pacific which in turn is fuelling the market growth. Furthermore, the presence of most populated countries such as India and China has augmented the construction and automobile sector which is further contributing to the market growth.
China, India, and Japan are the largest consumers of aromatic solvents in this region. North America is another dominant region in the market for aromatic solvents. The developed end-user industries such as construction, transportation, and electronics among others are significantly driving the market growth. Moreover, the newly elected government has brought in a new wave of investment in development and renovation of residential and commercial infrastructure which is expected to boost the demand for paint and coatings, in turn, adding to the growth of the aromatic solvent market. The European market is a lucrative market mainly driven by the developed electrical & electronics, construction, and automobile sector. Moreover, the growing application in the oil and gas sector coupled with the increasing infrastructural development is the major factor attributing to the growth of the market. In addition to this, the demand from the developed pharmaceutical sector has further augmented the use of aromatic solvents in the region.
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Aromatics Solvents Market 2019
Market Segmentation: The global Aromatic Solvents Market is segmented into the product, type, and application. On the basis of material, the market is segmented into benzene, toluene, xylene, and solvent naptha. On the basis of application, the global aromatic solvents market is segmented into pharmaceuticals, oilfield chemicals, automotive, paints and coatings, pesticides, textiles, electronics, adhesives and sealants, cosmetics, and others. Targeted Audiences: • Aromatic solvents market manufacturers
• Traders and Distributors of Aromatic solvents market • Production Process Industries • Potential Investors • Raw Material Suppliers • Nationalized Laboratory
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