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Aromatic Solvents Market Insights, Business Intelligence 2019 With LyondellBasell, Shell, Pampa Energia, Total, SK innovation, ExxonMobil, BASF, Chevron Phillips Chemical Company, Reliance Industries Limited, And Other

Aromatic Solvents

Aromatic solvents are those solvents that usually involve the inclusion of an aromatic hydrocarbon like toluene, xylene, or even naphtha. These solvents are used as diluents, and solvents, in various industries. They also have corrosion inhibiting capabilities which make it more beneficial.

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The Global Aromatic Solvents Market is expected to rise from an initial estimated value of USD 5.97 billion in 2018 to an estimated value of USD 7.24 billion by 2026 while registering a CAGR of 2.45% in the forecast period of 2019-2026. These solvents are a powerful bonding and dissolving agent for organic liquids which has increased their applications to a number of industries, thus driving the market growth. Few of the major market competitors currently working in the Aromatic Solvents Market are

  • Royal Dutch Shell
  • SK Innovation Co. Ltd.
  • Exxon Mobil Corporation
  • China Petrochemical Corporation
  • BASF SE
  • LyondellBasell Industries Holdings B.V.
  • Reliance Industries Limited
  • Total
  • CPC Corporation
  • Pampa Energía S.A.
  • Bharat Petroleum Corporation Limited
  • Chevron Phillips Chemical Company
  • FCFA
  • HCS Group

Others: Indian Oil Corporation Ltd, Pon Pure Chemicals, Recochem Corporation, THAI OIL, W.M. Barr & Co., ARHAM PETROCHEM PRIVATE LIMITED (APPL), Agrofert, Eastman Chemical Company, Galp, Ganga Rasayanie (P) Ltd., Hanwha Group, Jiangsu Hualun Chemical Co. Ltd., Korea Petrochemical Ind. Co., LTD., Monument Chemical, S-OIL CORPORATION, Marathon Petroleum Corporation, Celanese Corporation, Honeywell International Inc., Ashland, and Huntsman International LLC.

The Global Aromatic Solvents Market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of Aromatic Solvents market for global, Europe, North America, Asia Pacific, South America and Middle East & Africa.

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Segmentation: Global Aromatic Solvents Market 

By Type

Toluene Solvents

Xylene Solvents

Para-Xylene

Mixed Xylene

Ethylbenzene Solvents

By Application

Paints & Coatings

Adhesives

Printing Inks

Cleaning & Degreasing

Others

By End-User

Pharmaceuticals

Oilfield Chemicals

Automotive

Others

By Geography

North America

US

Canada

Mexico

South America

Brazil

Argentina

Rest of South America

Europe

Germany

France

United Kingdom

Italy

Spain

Russia

Turkey

Belgium

Netherlands

Switzerland

Rest of Europe

Asia-Pacific

Japan

China

South Korea

India

Australia

Singapore

Malaysia

Indonesia

Thailand

Philippines

Rest of Asia-Pacific

Middle East and Africa

South Africa

Egypt

Saudi Arabia

United Arab Emirates

Israel

Rest of Middle East and Africa

Market Drivers:

  • Increase in demand by the paints market is driving the growth higher, because these solvents are used to dissolve and bind a number of chemicals in the paint
  • High solvency capabilities of these solvents is also one of the major factors for the market growth

Market Restraints:

  • Due to the emissions of volatile organic compounds in the manufacturing of these solvents, the market is expected to be restrained
  • The awareness regarding the harmful effects in usage of these aromatic solvents is growing and hence, the consumers are inclined on shifting to environmentally safe solvents. This factor is expected to restrain the market growth

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