Aromatic Solvents Market Size, Share, Report, Analysis, Trends & Forecast to 2026

According to Stratistics MRC, the Global Aromatic Solvents Market is accounted for $7.16 billion in 2017 and is expected to reach $10.02 billion by 2026 growing at a CAGR of 3.8% during the forecast period.

Some of the key factors propelling the market growth are increasing demand for automobiles and increasing construction activities. However, stringent environmental regulations due to volatile organic compound (VOC) emissions from aromatic solvents are hampering the market growth.

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Solvent is a substance which is dissolved in any other solute which can be solid, gas or liquid. Solvent is usually a liquid but can also be a solid or gas. Solvents are generally used to dissolve, carry or suspend particles for forming solution. Aromatic solvents are organic chemicals which are made from fractional distillation of petroleum. In addition, they are also produced through other methods such as steam cracking, catalytic refining and coal carbonization among others. Among these, catalytic refining and steam cracking methods are preferably used on a large scale in the oil & gas industry.

Depending on the application, pharmaceutical segment is estimated to be the significant growing segment because the aromatic solvents are used in the synthesis of various active pharmaceutical ingredients and in the cleaning of pharmaceutical equipment. Moreover, these solvents are also used in various drug formulation processes

By geography, Asia Pacific provides potential growth opportunities owing to the increased manufacturing base of aromatic solvents in the economies such as China, India, and South Korea. In addition, rapid industrialization and urbanization accompanied by the rising demand for automobiles are supporting factors for this region.

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Some of the key players in Aromatic Solvents market include BASF SE, Exxonmobil Corporation, Total S.A., Reliance Industries Limited (RIL), China Sinopec, Royal Dutch Shell PLC, SK Global Chemical Co., Ltd., Lyondellbasell Industries Holdings B.V., China National Petroleum Corporation (CNPC), Chinese Petroleum Corporation (CPC), Pampa Energía, Shell International, SK global chemical, Honeywell, Galp Energia, DEZA, Neste.

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Types Covered:
• Xylene
• Benzene
• Ethylbenzene
• Toluene
• Heavy Aromatic Residue
• Other Types

Applications Covered:
• Printing Inks
• Paints & Coatings
• Adhesives
• Automotive
• Pharmaceuticals
• Other Applications

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country level segments
- Market share analysis of the top industry players
- Strategic recommendations for the new entrants
- Market forecasts for a minimum of 9 years of all the mentioned segments, sub segments and the regional markets
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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Release ID: 477709