Aromatic Solvent Market Size by Raw Material, Application, Region – Revenue Pool Analysis, Margin Structure Assessment, Capital Flow Trends, Competitive Benchmarking & Forecast to 2029

5.23%
CAGR (2023-2029)
8.47 USD Bn.
Market Size
307
Report Pages
159
Market Tables

Overview

Aromatic Solvent Market is expected to grow at a CAGR of 5.23% during the forecast period and is expected to reach US$ 12.10 Bn by 2029.

Aromatic Solvent market is segmented by raw material, by application and by region. Aromatic Solvent market is segmented into Benzene, Toluene, Xylene and Ethylbenzene solvent. Oilfield chemicals, pharmaceuticals, automotive, paints and coatings, and others are application segment of Aromatic Solvent market. Geographically into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.

An aromatic solvent consists of an aromatic hydrocarbon such as ethane, naphtha, toluene, xylene, or propane. The aromatic solvents are organic chemicals that dissolve the solid materials to form a solution that is homogenous. It is mainly produced by means of distillation of the crude petroleum stock in oil refining industry. Moreover, these aromatic solvents are used in the manufacturing of other intermediate chemicals such as cumene, phthalic anhydride, ethyl benzene, maleic anhydride, and naphthalene. Aromatic Solvent MarketTo know about the Research Methodology:-Request Free Sample Report

Toluene is used as a raw material for toluene diisocyanate, cement for polystyrene kits, and fullerene indicator and is also used in leather tanning and printing processes. The xylene solvents segment of the aromatic solvents market is projected to register the highest CAGR from 2022 to 2023, in terms of value and volume. This is due to its high solvency power and increasing capacity expansion of xylene, globally.

The paints & coatings segment accounted for the largest market share, in terms of value, in 2022. The growth of the automotive OEM, machinery, and appliances markets, globally accompanied by the rise in building and construction activities are expected to drive the demand in this application during the forecast period.

Asia Pacific is estimated to be the largest market for aromatic solvents in 2022, and the region is also expected to continue to lead the market till 2023, owing to the growing industries in the region's emerging economies such China, South Korea, and India. The rising per capita disposable incomes, rapid urbanization, and growing demand for automobiles are projected to fuel the aromatic solvents market.

Exxon Mobil Corporation, LyondellBasell Industries N.V., BASF SE, Eastman Chemical Company, Royal Dutch Shell Plc., Chevron Phillips Chemical Company, Celanese Corporation, W.M. Barr & Company Inc., Total S.A., Top Solvent Co. ltd, Reliance Industries Limited, Recochem Inc., Pon Pure Chemicals Group., Indian Oil Corporation Limited, Haltermann Carless, Gotham Industries, Global Chemical Co. Ltd, Formosa Chemicals & Fibre Corporation, China National Petroleum Corporation, Bharat Petroleum Corporation Limited are key players included in the Global Aromatic Solvent market.

The objective of the report is to present comprehensive analysis of Global Aromatic Solvent Market including all the stakeholders of the industry. The past and current status of the industry with forecasted Market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes Market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the Market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.

The report also helps in understanding Global Aromatic Solvent Market dynamics, structure by analyzing the Market segments, and project the Global Aromatic Solvent Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Aromatic Solvent Market the report investor’s guide.

Aromatic Solvent Market Scope: Inquire before buying

Global Aromatic Solvent Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 8.47 Bn.
Forecast Period 2023 to 2029 CAGR: 5.23% Market Size in 2029: US $ 12.10 Bn.
Segments Covered: by Raw Material Benzene
Toluene
Xylene
Ethylbenzene solvent
by Application Oilfield chemicals
Pharmaceuticals
Automotive
Paints and coatings
Others

Aromatic Solvent Market, by Region

North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)

Aromatic Solvent Market Key Player are:

1. Exxon Mobil Corporation
2. LyondellBasell Industries N.V.
3. BASF SE
4. Eastman Chemical Company
5. Royal Dutch Shell Plc.
6. Chevron Phillips Chemical Company
7. Celanese Corporation
8. W.M. Barr & Company Inc.
9. Total S.A.
10.Top Solvent Co. ltd
11.Reliance Industries Limited
12.Recochem Inc.
13.Pon Pure Chemicals Group.
14.Indian Oil Corporation Limited
15.Haltermann Carless
16.Gotham Industries
17.Global Chemical Co. Ltd
18.Formosa Chemicals & Fibre Corporation
19.China National Petroleum Corporation
20.Bharat Petroleum Corporation Limited
21.SK global chemical Co., Ltd.
22.CPC Corporation
23.HCS Group

Frequently Asked Questions:

1. Which region has the largest share in Global Aromatic Solvent Market?
Ans: Asia Pacific region held the highest share in 2022.

2. What is the growth rate of Global Aromatic Solvent Market?
Ans: The Global Market is growing at a CAGR of 5.23% during forecasting period 2023-2029.

3. What is scope of the Global Aromatic Solvent market report?
Ans: Global Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.

4. Who are the key players in Global Aromatic Solvent market?
Ans: The important key players in the Global Market are – Exxon Mobil Corporation, LyondellBasell Industries N.V., BASF SE, Eastman Chemical Company, Royal Dutch Shell Plc., Chevron Phillips Chemical Company, Celanese Corporation, W.M. Barr & Company Inc., Total S.A., Top Solvent Co. ltd, Reliance Industries Limited, Recochem Inc., Pon Pure Chemicals Group., Indian Oil Corporation Limited, Haltermann Carless, Gotham Industries, Global Chemical Co. Ltd, Formosa Chemicals & Fibre Corporation, China National Petroleum Corporation, Bharat Petroleum Corporation Limited, SK global chemical Co., Ltd., CPC Corporation, and HCS Group

5. What is the study period of this market?
Ans: The Global Aromatic Solvent Market is studied from 2022 to 2029.

Table of Contents

1. Aromatic Solvent Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Aromatic Solvent Market: Dynamics 2.1. Aromatic Solvent Market Trends by Region 2.1.1. North America Aromatic Solvent Market Trends 2.1.2. Europe Aromatic Solvent Market Trends 2.1.3. Asia Pacific Aromatic Solvent Market Trends 2.1.4. Middle East and Africa Aromatic Solvent Market Trends 2.1.5. South America Aromatic Solvent Market Trends 2.2. Aromatic Solvent Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Aromatic Solvent Market Drivers 2.2.1.2. North America Aromatic Solvent Market Restraints 2.2.1.3. North America Aromatic Solvent Market Opportunities 2.2.1.4. North America Aromatic Solvent Market Challenges 2.2.2. Europe 2.2.2.1. Europe Aromatic Solvent Market Drivers 2.2.2.2. Europe Aromatic Solvent Market Restraints 2.2.2.3. Europe Aromatic Solvent Market Opportunities 2.2.2.4. Europe Aromatic Solvent Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Aromatic Solvent Market Drivers 2.2.3.2. Asia Pacific Aromatic Solvent Market Restraints 2.2.3.3. Asia Pacific Aromatic Solvent Market Opportunities 2.2.3.4. Asia Pacific Aromatic Solvent Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Aromatic Solvent Market Drivers 2.2.4.2. Middle East and Africa Aromatic Solvent Market Restraints 2.2.4.3. Middle East and Africa Aromatic Solvent Market Opportunities 2.2.4.4. Middle East and Africa Aromatic Solvent Market Challenges 2.2.5. South America 2.2.5.1. South America Aromatic Solvent Market Drivers 2.2.5.2. South America Aromatic Solvent Market Restraints 2.2.5.3. South America Aromatic Solvent Market Opportunities 2.2.5.4. South America Aromatic Solvent Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Aromatic Solvent Industry 2.8. Analysis of Government Schemes and Initiatives For Aromatic Solvent Industry 2.9. Aromatic Solvent Market Trade Analysis 2.10. The Global Pandemic Impact on Aromatic Solvent Market 3. Aromatic Solvent Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) 2022-2029 3.1. Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 3.1.1. Benzene 3.1.2. Toluene 3.1.3. Xylene 3.1.4. Ethylbenzene solvent 3.2. Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 3.2.1. Oilfield chemicals 3.2.2. Pharmaceuticals 3.2.3. Automotive 3.2.4. Paints and coatings 3.2.5. Others 3.3. Aromatic Solvent Market Size and Forecast, by Region (2022-2029) 3.3.1. North America 3.3.2. Europe 3.3.3. Asia Pacific 3.3.4. Middle East and Africa 3.3.5. South America 4. North America Aromatic Solvent Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 4.1. North America Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 4.1.1. Benzene 4.1.2. Toluene 4.1.3. Xylene 4.1.4. Ethylbenzene solvent 4.2. North America Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 4.2.1. Oilfield chemicals 4.2.2. Pharmaceuticals 4.2.3. Automotive 4.2.4. Paints and coatings 4.2.5. Others 4.3. North America Aromatic Solvent Market Size and Forecast, by Country (2022-2029) 4.3.1. United States 4.3.1.1. United States Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 4.3.1.1.1. Benzene 4.3.1.1.2. Toluene 4.3.1.1.3. Xylene 4.3.1.1.4. Ethylbenzene solvent 4.3.1.2. United States Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 4.3.1.2.1. Oilfield chemicals 4.3.1.2.2. Pharmaceuticals 4.3.1.2.3. Automotive 4.3.1.2.4. Paints and coatings 4.3.1.2.5. Others 4.3.2. Canada 4.3.2.1. Canada Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 4.3.2.1.1. Benzene 4.3.2.1.2. Toluene 4.3.2.1.3. Xylene 4.3.2.1.4. Ethylbenzene solvent 4.3.2.2. Canada Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 4.3.2.2.1. Oilfield chemicals 4.3.2.2.2. Pharmaceuticals 4.3.2.2.3. Automotive 4.3.2.2.4. Paints and coatings 4.3.2.2.5. Others 4.3.3. Mexico 4.3.3.1. Mexico Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 4.3.3.1.1. Benzene 4.3.3.1.2. Toluene 4.3.3.1.3. Xylene 4.3.3.1.4. Ethylbenzene solvent 4.3.3.2. Mexico Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 4.3.3.2.1. Oilfield chemicals 4.3.3.2.2. Pharmaceuticals 4.3.3.2.3. Automotive 4.3.3.2.4. Paints and coatings 4.3.3.2.5. Others 5. Europe Aromatic Solvent Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 5.1. Europe Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 5.2. Europe Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 5.3. Europe Aromatic Solvent Market Size and Forecast, by Country (2022-2029) 5.3.1. United Kingdom 5.3.1.1. United Kingdom Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 5.3.1.2. United Kingdom Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 5.3.2. France 5.3.2.1. France Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 5.3.2.2. France Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 5.3.3. Germany 5.3.3.1. Germany Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 5.3.3.2. Germany Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 5.3.4. Italy 5.3.4.1. Italy Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 5.3.4.2. Italy Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 5.3.5. Spain 5.3.5.1. Spain Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 5.3.5.2. Spain Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 5.3.6. Sweden 5.3.6.1. Sweden Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 5.3.6.2. Sweden Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 5.3.7. Austria 5.3.7.1. Austria Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 5.3.7.2. Austria Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 5.3.8. Rest of Europe 5.3.8.1. Rest of Europe Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 5.3.8.2. Rest of Europe Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 6. Asia Pacific Aromatic Solvent Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 6.1. Asia Pacific Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 6.2. Asia Pacific Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 6.3. Asia Pacific Aromatic Solvent Market Size and Forecast, by Country (2022-2029) 6.3.1. China 6.3.1.1. China Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 6.3.1.2. China Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 6.3.2. S Korea 6.3.2.1. S Korea Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 6.3.2.2. S Korea Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 6.3.3. Japan 6.3.3.1. Japan Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 6.3.3.2. Japan Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 6.3.4. India 6.3.4.1. India Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 6.3.4.2. India Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 6.3.5. Australia 6.3.5.1. Australia Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 6.3.5.2. Australia Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 6.3.6. Indonesia 6.3.6.1. Indonesia Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 6.3.6.2. Indonesia Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 6.3.7. Malaysia 6.3.7.1. Malaysia Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 6.3.7.2. Malaysia Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 6.3.8. Vietnam 6.3.8.1. Vietnam Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 6.3.8.2. Vietnam Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 6.3.9. Taiwan 6.3.9.1. Taiwan Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 6.3.9.2. Taiwan Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 6.3.10. Rest of Asia Pacific 6.3.10.1. Rest of Asia Pacific Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 6.3.10.2. Rest of Asia Pacific Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 7. Middle East and Africa Aromatic Solvent Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 7.1. Middle East and Africa Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 7.2. Middle East and Africa Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 7.3. Middle East and Africa Aromatic Solvent Market Size and Forecast, by Country (2022-2029) 7.3.1. South Africa 7.3.1.1. South Africa Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 7.3.1.2. South Africa Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 7.3.2. GCC 7.3.2.1. GCC Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 7.3.2.2. GCC Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 7.3.3. Nigeria 7.3.3.1. Nigeria Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 7.3.3.2. Nigeria Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 7.3.4. Rest of ME&A 7.3.4.1. Rest of ME&A Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 7.3.4.2. Rest of ME&A Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 8. South America Aromatic Solvent Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 8.1. South America Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 8.2. South America Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 8.3. South America Aromatic Solvent Market Size and Forecast, by Country (2022-2029) 8.3.1. Brazil 8.3.1.1. Brazil Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 8.3.1.2. Brazil Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 8.3.2. Argentina 8.3.2.1. Argentina Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 8.3.2.2. Argentina Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 8.3.3. Rest Of South America 8.3.3.1. Rest Of South America Aromatic Solvent Market Size and Forecast, by Raw Material (2022-2029) 8.3.3.2. Rest Of South America Aromatic Solvent Market Size and Forecast, by Application (2022-2029) 9. Global Aromatic Solvent Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Company Locations 9.4. Leading Aromatic Solvent Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. Exxon Mobil Corporation 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. LyondellBasell Industries N.V. 10.3. BASF SE 10.4. Eastman Chemical Company 10.5. Royal Dutch Shell Plc. 10.6. Chevron Phillips Chemical Company 10.7. Celanese Corporation 10.8. W.M. Barr & Company Inc. 10.9. Total S.A. 10.10. Top Solvent Co. ltd 10.11. Reliance Industries Limited 10.12. Recochem Inc. 10.13. Pon Pure Chemicals Group. 10.14. Indian Oil Corporation Limited 10.15. Haltermann Carless 10.16. Gotham Industries 10.17. Global Chemical Co. Ltd 10.18. Formosa Chemicals & Fibre Corporation 10.19. China National Petroleum Corporation 10.20. Bharat Petroleum Corporation Limited 10.21. SK global chemical Co., Ltd. 10.22. CPC Corporation 10.23. HCS Group 11. Key Findings 12. Industry Recommendations 13. Aromatic Solvent Market: Research Methodology 14. Terms and Glossary

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