Global Aromatics Market By Type (Benzene, Toluene, O-Xylene, P-Xylene, Others), By Application (Solvent v/s Additive), By End User Industry (Paint & Coatings, Adhesives, Pharmaceuticals, Chemicals, Others), By Region, Forecast & Opportunities, 2025
Global aromatics market is expected to grow at a steady rate during the forecast period. The global aromatics market is driven by the increasing demand for solvents like benzene, toluene, among others from different end user industries. Additionally, the booming construction industry and ongoing infrastructural developments around the globe are further anticipated to propel the market through 2025. Moreover, flourishing chemical industry is also expected to have a positive influence over the market growth.
The global aromatics market is segmented based on type, application, end user industry, company and region. Based on type, the market can be fragmented into benzene, toluene, o-xylene, p-xylene and others. Benzene is expected to dominate the market during forecast period. This can be accredited to the increased demand for benzene from derivatives, particularly styrene and cumene segments. Growing demand for benzene in polyester industry, where styrene monomer is used for manufacturing textiles further is further expected to give a boost to the market.
Regionally, the global aromatics market has been segmented into Asia-Pacific, North America, South America, Europe, and Middle East & Africa. Among these regions, North America region dominates the overall aromatics market owing to the increasing demand from the various end user industries such as paint & coatings, automotive, personal care, construction, among others in the region. Additionally, the U.S. is the largest market for used cars which in turn has increased the demand for refinishing automotive coating, thereby driving the aromatics market in the region.
Major players operating in the aromatics market include DuPont de Nemours, Inc., Alpek S.A.B de C.V, BP PLC, China National Petroleum Corporation, ExxonMobil Corporation, Indorama Ventures, Reliance Industries Limited, Shell Chemicals Ltd., SABIC, Lyondell Basell and others. The companies are developing advanced technologies and launching new products in order to stay competitive in the market.
Years considered for this report:
Historical Years: 2015-2018
Base Year: 2019
Estimated Year: 2020
Forecast Period: 2021–2025
Objective of the Study:
To analyze and forecast the market size of global aromatics market.
To classify and forecast global aromatics market based on type, application, end user industry, company and regional distribution.
To identify drivers and challenges for global aromatics market.
To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in global aromatics market.
To conduct pricing analysis for global aromatics market.
To identify and analyze the profile of leading players operating in global aromatics market.
TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of manufacturers across the globe. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research could include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the manufacturers, distribution channels and presence of all major players across the globe.
TechSci Research calculated the market size of global aromatics market using a bottom-up approach, wherein data for various end-user segments was recorded and forecast for the future years. TechSci Research sourced these values from the industry experts and company representatives and externally validated through analyzing historical data of these product types and applications for getting an appropriate, overall market size. Various secondary sources such as company websites, news articles, press releases, company annual reports, investor presentations and financial reports were also studied by TechSci Research.
Key Target Audience:
Aromatics manufacturers, suppliers, distributors and other stakeholders
Government bodies such as regulating authorities and policy makers
Organizations, forums and alliances related to aromatics
Market research and consulting firms
The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as manufacturers, suppliers and partners, end users, etc., besides allowing them in strategizing investments and capitalizing on market opportunities.
In this report, global aromatics market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Market, By Type:
Market, By Application:
Market, By End User Industry:
Paint & Coatings
Market, By Region:
Middle East & Africa
Company Profiles: Detailed analysis of the major companies present in global aromatics market.
With the given market data, TechSci Research offers customizations according to a company’s specific needs. The following customization options are available for the report:
Detailed analysis and profiling of additional market players (up to five).
Please Note: Report will be updated with the latest data and delivered to you within 3-5 working days of order.
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