Aromatic Solvents Market
Aromatic Solvents Market Analysis, By Type (Benzene, Toluene, Xylene, and Other Types), By Application (Paints & Coatings, Printing Inks, Adhesives, Cleaning & Degreasing), and By Region - Forecast 2022 to 2032
Analysis of Aromatic Solvents Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Aromatic Solvents Market Growth Outlook (2022 to 2032)
The global sales of aromatic solvents valued at US$ 5.1 Billion in 2021 and market is expected to reach a valuation of US$ 8.2 Billion by 2032, growing with 3.4% CAGR during 2022 to 2032.
Benzene-based Aromatic Solvent is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 3.8% during 2022 – 2032.
| Report Attributes | Details |
|---|---|
| Market Size in 2022 | US$ 5.9 Billion |
| Market Forecast Value in 2032 | US$ 8.2 Billion |
| Growth Rate CAGR (2022 to 2032) | 3.4% |
| U.S. Aromatic Solvents Market CAGR (2022 – 2032) | 3.2% |
| Key Companies Covered | China Petroleum & Chemical Corporation; Exxonmobil Corporation; SK Global Chemical Co., Ltd; Cargill Inc; Royal Dutch Shell PLC; BASF SE; Total; Shell; Chevron Phillips Chemical; Reliance Industries; Pon Pure Chemicals Group |
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Revenue of Aromatic Solvents Market from 2017 to 2021 Compared to Demand Outlook for 2022 to 2032
As per the Global Aromatic Solvents Market research by Fact.MR - a market research and competitive intelligence provider, historically, from 2017 to 2021, the value of the Aromatic Solvents Market increased at around 2.9% CAGR.
The key revenue drivers which affect the Aromatic Solvent demand include an increased usage of the aromatic solvents for paints, coatings, cleaners and various oil and gas industry.
The demand for these solvents is predicted to expand due to the expansion of the machinery, appliance, and automotive industries, as well as the corresponding expansion of the building and construction sector, throughout the course of the forecast period.
The demand for aromatic solvents in the paint and coating business has increased as a result of the ability of aromatic solvents to dissolve or disperse a variety of components, including fillers, binders, pigments, and additives. This aspect is anticipated to significantly fuel the growth of the global market for aromatic solvents over the forecast period.
The need for adhesives and sealants made with aromatic solvents has also grown as a result of the expanding automobile industry. The global market for aromatic solvents is expanding in part due to the oil and gas industry. The Oil & Gas Journal predicts that the oil and gas sector will expand soon, driving up demand for oil and its by co-products globally.
The main purpose of aromatic solvents in oil & gas industry is to prevent corrosion in pipelines while fractional distillation is taking place. In addition to this, the growing use of aromatic solvents in developing economies is positively stimulating the global market.
The growth of the market is also supported by government policies which supports the growth of the market. For instance, the Netherlands government's policy of providing financial assistance to companies engaged in the petrochemical industry in order to expand its production capacity (aromatic solvents) is one of the recent examples.
As an illustration, it was stated in Article 6 of the Netherlands Law that "extra premium for significant schemes" was created for projects when investment surpasses Fl 30 million. The premium can make up as much as 4% of the investment under consideration and is based on how many jobs are generated.
Which Factors are Propelling Aromatic Solvents Demand?
The key factors which are propelling the Aromatic Solvent demand are the increase in the usage of aromatic solvents in various industries such as agrochemicals, paints & coatings, automotive, and pharmaceuticals.
The agricultural sector has considerable challenges due to an expanding worldwide population, an increase in the need for food, feed, and crops, as well as climate change-related floods and droughts. Agrochemicals and cutting-edge techniques are used nowadays in modern agriculture to increase crop quality and yield.
The use of aromatic solvents is therefore supported by new, innovative crop protection products that are practical, cost-effective, and environmentally friendly in addition to being user and customer safe and easy to apply. Due to the rise in the industry, the growth in aromatic solvent consumption is projected.
Solvents are crucial for the manufacturing of paints as they enhance the overall performance when included in the color composition. The solvent in paints evaporates when they are applied to a surface, enabling the resin and pigment to swiftly dry and form a paint coating.
Although they evaporate during the process and are not present in the finished product, solvents play a significant influence in the coating's composition. Solvents regulate the viscosity, film appearance, corrosion, and adherence of paint and coatings, which supports the expansion of the aromatic solvent industry.
The use of aromatic solvents has also helped the pharmaceutical industry since they are utilized for either research and development for conventional analyses or for processing, crystallizing, extracting, and washing purified active ingredients for medications.
The aromatic solvents for such delicate applications must have particular physical characteristics to guarantee dependable production methods. Thus, avoiding contaminants can help stop potential shutdowns. Hence, the usage of aromatic solvents in pharmaceutical industry is fuelling the aromatic solvents market.
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What Factors are restraining the Growth of Aromatic Solvents Market?
The market for aromatic solvents faces certain roadblocks due to the increased focus on environment-friendly solvents made from agricultural commodities. Green solvents are entirely biodegradable, non-corrosive, and do not cause cancer.
Examples include ethanol, 1-propanol, acetone, acetonitrile, 2-propanol, and methanol. Additionally, due to the severe restrictions and regulations put in place by various governments throughout the world, businesses are concentrating more on employing greener products in their industrial operations for sustainable development.
Which product can be a Threat to Aromatic Solvents Market in the Coming Future?
Due to awareness about the hazards of using aromatic solvents to humans and environment there have been recent development of green solvents. The enzyme-assisted extraction method typically uses green solvents.
Green solvents are bio-solvents or solvents that are beneficial to the environment and are made from the processing of agricultural crops. The majority of chemical processes depend heavily on the usage of petrochemical solvents, however, this has negative effects on the environment. To combat this, green solvents is created which is a more environment-friendly substitute for petrochemical solvents.
For instance, digesting corn yields the green solvent ethyl lactate. A lactic acid ester is ethyl lactate. The paint and coatings industry frequently uses lactate ester solvents, which have a variety of appealing benefits such being completely biodegradable, easily recyclable, non-corrosive, non-carcinogenic, and ozone-friendly.
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Region-wise Analysis
Which Region is projected to offer the Largest Aromatic Solvents Market Opportunity?
During the projection period, North America is expected to be the largest Aromatic Solvents Market. Demand growth of aromatic solvents in the region was recorded at 2.9% during 2017 to 2021, while it is expected to grow at a CAGR of over 3% during 2022 to 2023.
A key factor that is responsible for it includes the high spending cost of North American countries on chemicals. The regions high value market for aromatic solvents is supported by the presence of companies like ExxonMobil Corporation, BASF, Cargill, Chevron Philips, Dow, and Dupont among others, in the region.
Country-wise Analysis
Which Country Lies at the Centre stage for Aromatic Solvents Market Revenue?
The United States aromatic solvents market is expected to account for the highest share of US$ 2.2 Billion by the end of 2032. It is projected to account for an absolute dollar growth of US$ 608.9 Million. The growth observed in the U.S market is due to its rise in usage of aromatic solvents due to rising oil and gas exploration operations, primarily as a result of the shale gas boom.
The cost of corrosion in oil and gas exploration and production can reach US$ 1.4 billion yearly, according to a corrosion research by the US Department of Commerce's National Technical Information Service. This is further accelerating the demand for heavy aromatic solvents over the projected period.
The U.S Energy information administration department estimates that by 2024, total U.S. natural gas output would surpass 35 trillion cubic feet, up from just under 20 trillion cubic feet in 2010. The market for aromatic solvents in the chemical sector of the oil fields will thereafter experience expansion in response to this trend in natural gas production.
The country's expansion in all areas and the high value of paint usage as a result of regional expansions both contribute to the market growth for aromatic solvents.
Category-wise Insights
Why Benzene usage as a major solvent type for Aromatic Solvent production is projected to Witness the Fastest Growth?
Benzene aromatic solvents is the highest used solvent type whose demand growth was recorded at 3.6% during 2017 to 2021, while it is expected to grow at CAGR of 3.8% during 2022 to 2023.
The usage of benzene is rising because it can be used for multiple uses. Gasoline contains a significant amount of the commonly used industrial chemical benzene. Benzene is also used to make polymers, synthetic fibers, rubber lubricants, dyes, resins, detergents, pharmaceuticals, and other things. Benzene is frequently employed as a solvent in a variety of industrial, commercial, and academic fields.
Products containing benzene are utilized by manufacturers as solvents during different phases of production, and it is used in the creation of chemical and plastic products. Examples include resins, and artificial goods like nylon and polystyrene, among others. Additionally, benzene is utilized to make the asphalt that roofing and tiling businesses use.
Several manufacturers utilize benzene as fuel because of its high octane rating and natural availability. Some people have added it to gasoline as a way to improve fuel efficiency.
What was the impact of Covid-19 on Aromatic Solvents Market?
Demand for aromatic solvents went down due to Covid-19 which disrupted the supply chain. Market expansion in sectors like transportation, construction, shipbuilding, and aviation is crucial for the industries such as aromatic solvents, which went down due to the lockdowns.
For instance, ExxonMobile one of the leaders of aromatic solvent stated that from April 7 it is decreasing its capital expenditures by 30% and its cash operating expenses by 15% in 2020 as a result of the declining energy demand brought on by the covid-19 epidemic and low commodities prices.
From the previously estimated US$ 33 billion, capital investment for 2020 is now anticipated to be around US$ 23 billion. The purposeful actions taken to improve efficiency and cut costs, including anticipated lower energy costs, are what have led to the 15% reduction in cash operating expenses.
The demand for solvents dropped as a result of Covid-19, as a result of decreased demand for paints and coatings. China is the largest producer of solvents; however, due to the Covid-19 pandemic, there was a shortage of raw material supplies, which affected solvent production in the country. A reduction in the market for paints and coatings as a result of the cancellation of construction projects also affected the demand for aromatic solvents.
In the first few months of 2020, the majority of nations halted production in their car manufacturing factories, which decreased the need for aromatic solvents. This further eroded the revenue through aromatic solvents.
Competitive Analysis
Players in the market are constantly developing improved analytical solutions as well as extending their product offerings. The companies in the aromatic solvents market are focused on alliances, technology collaborations, and product launch strategies. The Tier 2 Players in the market are targeting to increase their aromatic solvents market share.
- In November 2019, a division of Flotek Industries called Florida Chemical Company (FCC) announced that it has been purchased by Archer Daniels Midland Company. The business manufactures D-Limonene, a degreaser and biodegradable solvent derived from orange peel.
Segmentation of Industry Research Report
-
By Type :
- Benzene
- Toluene
- Xylene
- Other
-
By Application :
- Paints & Coatings
- Printing Inks
- Adhesives
- Cleaning & Degreasing
-
By Region :
- North America
- Latin America
- Europe
- APAC
- MEA
Table of Content
- 1. Executive Summary
- 2. Market Overview
- 3. Market Background
- 4. Global Market Analysis 2017 to 2021 and Forecast, 2022 to 2032
- 5. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Type
- 5.1. Benzene
- 5.2. Toluene
- 5.3. Xylene
- 5.4. Other Types
- 6. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Application
- 6.1. Paints & Coatings
- 6.2. Printing Inks
- 6.3. Adhesives
- 6.4. Cleaning & Degreasing
- 7. Global Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Region
- 7.1. North America
- 7.2. Latin America
- 7.3. Europe
- 7.4. East Asia
- 7.5. South Asia
- 7.6. Oceania
- 7.7. MEA
- 8. North America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
- 9. Latin America Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
- 10. Europe Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
- 11. East Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
- 12. South Asia Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
- 13. Oceania Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
- 14. MEA Market Analysis 2017 to 2021 and Forecast 2022 to 2032, By Country
- 15. Key Countries Market Analysis
- 16. Market Structure Analysis
- 17. Competition Analysis
- 17.1. China Petroleum & Chemical Corporation
- 17.2. ExxonMobil Corporation
- 17.3. SK Global Chemical Co., Ltd
- 17.4. Cargill Inc
- 17.5. Royal Dutch Shell PLC
- 17.6. BASF SE
- 17.7. Total
- 17.8. Shell
- 17.9. Chevron Phillips Chemical
- 17.10. Reliance Industries
- 17.11. Pon Pure Chemicals Group
- 18. Assumptions & Acronyms Used
- 19. Research Methodology
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List Of Table
Table 01: Global Market Value (US$ Mn) Forecast by Region, 2017 to 2032
Table 02: Global Market Volume (Tons) Forecast by Region, 2017 to 2032
Table 03: Global Market Value (US$ Mn) Forecast by Type, 2017 to 2032
Table 04: Global Market Volume (Tons) Forecast by Type, 2017 to 2032
Table 05: Global Market Value (US$ Mn) Forecast by Application, 2017 to 2032
Table 06: Global Market Volume (Tons) Forecast by Application, 2017 to 2032
Table 07: North America Market Value (US$ Mn) Forecast by Country, 2017 to 2032
Table 08: North America Market Volume (Tons) Forecast by Country, 2017 to 2032
Table 09: North America Market Value (US$ Mn) Forecast by Type, 2017 to 2032
Table 10: North America Market Volume (Tons) Forecast by Type, 2017 to 2032
Table 11: North America Market Value (US$ Mn) Forecast by Application, 2017 to 2032
Table 12: North America Market Volume (Tons) Forecast by Application, 2017 to 2032
Table 13: Latin America Market Value (US$ Mn) Forecast by Country, 2017 to 2032
Table 14: Latin America Market Volume (Tons) Forecast by Country, 2017 to 2032
Table 15: Latin America Market Value (US$ Mn) Forecast by Type, 2017 to 2032
Table 16: Latin America Market Volume (Tons) Forecast by Type, 2017 to 2032
Table 17: Latin America Market Value (US$ Mn) Forecast by Application, 2017 to 2032
Table 18: Latin America Market Volume (Tons) Forecast by Application, 2017 to 2032
Table 19: Europe Market Value (US$ Mn) Forecast by Country, 2017 to 2032
Table 20: Europe Market Volume (Tons) Forecast by Country, 2017 to 2032
Table 21: Europe Market Value (US$ Mn) Forecast by Type, 2017 to 2032
Table 22: Europe Market Volume (Tons) Forecast by Type, 2017 to 2032
Table 23: Europe Market Value (US$ Mn) Forecast by Application, 2017 to 2032
Table 24: Europe Market Volume (Tons) Forecast by Application, 2017 to 2032
Table 25: East Asia Market Value (US$ Mn) Forecast by Country, 2017 to 2032
Table 26: East Asia Market Volume (Tons) Forecast by Country, 2017 to 2032
Table 27: East Asia Market Value (US$ Mn) Forecast by Type, 2017 to 2032
Table 28: East Asia Market Volume (Tons) Forecast by Type, 2017 to 2032
Table 29: East Asia Market Value (US$ Mn) Forecast by Application, 2017 to 2032
Table 30: East Asia Market Volume (Tons) Forecast by Application, 2017 to 2032
Table 31: South Asia Market Value (US$ Mn) Forecast by Country, 2017 to 2032
Table 32: South Asia Market Volume (Tons) Forecast by Country, 2017 to 2032
Table 33: South Asia Market Value (US$ Mn) Forecast by Type, 2017 to 2032
Table 34: South Asia Market Volume (Tons) Forecast by Type, 2017 to 2032
Table 35: South Asia Market Value (US$ Mn) Forecast by Application, 2017 to 2032
Table 36: South Asia Market Volume (Tons) Forecast by Application, 2017 to 2032
Table 37: Oceania Market Value (US$ Mn) Forecast by Country, 2017 to 2032
Table 38: Oceania Market Volume (Tons) Forecast by Country, 2017 to 2032
Table 39: Oceania Market Value (US$ Mn) Forecast by Type, 2017 to 2032
Table 40: Oceania Market Volume (Tons) Forecast by Type, 2017 to 2032
Table 41: Oceania Market Value (US$ Mn) Forecast by Application, 2017 to 2032
Table 42: Oceania Market Volume (Tons) Forecast by Application, 2017 to 2032
Table 43: MEA Market Value (US$ Mn) Forecast by Country, 2017 to 2032
Table 44: MEA Market Volume (Tons) Forecast by Country, 2017 to 2032
Table 45: MEA Market Value (US$ Mn) Forecast by Type, 2017 to 2032
Table 46: MEA Market Volume (Tons) Forecast by Type, 2017 to 2032
Table 47: MEA Market Value (US$ Mn) Forecast by Application, 2017 to 2032
Table 48: MEA Market Volume (Tons) Forecast by Application, 2017 to 2032
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List Of Figures
Figure 01: Global Market Value (US$ Mn) by Type, 2022 to 2032
Figure 02: Global Market Value (US$ Mn) by Application, 2022 to 2032
Figure 03: Global Market Value (US$ Mn) by Region, 2022 to 2032
Figure 04: Global Market Value (US$ Mn) Analysis by Region, 2017 to 2032
Figure 05: Global Market Volume (Tons) Analysis by Region, 2017 to 2032
Figure 06: Global Market Value Share (%) and BPS Analysis by Region, 2022 to 2032
Figure 07: Global Market Y-o-Y Growth (%) Projections by Region, 2022 to 2032
Figure 08: Global Market Value (US$ Mn) Analysis by Type, 2017 to 2032
Figure 09: Global Market Volume (Tons) Analysis by Type, 2017 to 2032
Figure 10: Global Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 11: Global Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 12: Global Market Value (US$ Mn) Analysis by Application, 2017 to 2032
Figure 13: Global Market Volume (Tons) Analysis by Application, 2017 to 2032
Figure 14: Global Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 15: Global Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 16: Global Market Attractiveness by Type, 2022 to 2032
Figure 17: Global Market Attractiveness by Application, 2022 to 2032
Figure 18: Global Market Attractiveness by Region, 2022 to 2032
Figure 19: North America Market Value (US$ Mn) by Type, 2022 to 2032
Figure 20: North America Market Value (US$ Mn) by Application, 2022 to 2032
Figure 21: North America Market Value (US$ Mn) by Country, 2022 to 2032
Figure 22: North America Market Value (US$ Mn) Analysis by Country, 2017 to 2032
Figure 23: North America Market Volume (Tons) Analysis by Country, 2017 to 2032
Figure 24: North America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 25: North America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 26: North America Market Value (US$ Mn) Analysis by Type, 2017 to 2032
Figure 27: North America Market Volume (Tons) Analysis by Type, 2017 to 2032
Figure 28: North America Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 29: North America Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 30: North America Market Value (US$ Mn) Analysis by Application, 2017 to 2032
Figure 31: North America Market Volume (Tons) Analysis by Application, 2017 to 2032
Figure 32: North America Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 33: North America Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 34: North America Market Attractiveness by Type, 2022 to 2032
Figure 35: North America Market Attractiveness by Application, 2022 to 2032
Figure 36: North America Market Attractiveness by Country, 2022 to 2032
Figure 37: Latin America Market Value (US$ Mn) by Type, 2022 to 2032
Figure 38: Latin America Market Value (US$ Mn) by Application, 2022 to 2032
Figure 39: Latin America Market Value (US$ Mn) by Country, 2022 to 2032
Figure 40: Latin America Market Value (US$ Mn) Analysis by Country, 2017 to 2032
Figure 41: Latin America Market Volume (Tons) Analysis by Country, 2017 to 2032
Figure 42: Latin America Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 43: Latin America Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 44: Latin America Market Value (US$ Mn) Analysis by Type, 2017 to 2032
Figure 45: Latin America Market Volume (Tons) Analysis by Type, 2017 to 2032
Figure 46: Latin America Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 47: Latin America Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 48: Latin America Market Value (US$ Mn) Analysis by Application, 2017 to 2032
Figure 49: Latin America Market Volume (Tons) Analysis by Application, 2017 to 2032
Figure 50: Latin America Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 51: Latin America Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 52: Latin America Market Attractiveness by Type, 2022 to 2032
Figure 53: Latin America Market Attractiveness by Application, 2022 to 2032
Figure 54: Latin America Market Attractiveness by Country, 2022 to 2032
Figure 55: Europe Market Value (US$ Mn) by Type, 2022 to 2032
Figure 56: Europe Market Value (US$ Mn) by Application, 2022 to 2032
Figure 57: Europe Market Value (US$ Mn) by Country, 2022 to 2032
Figure 58: Europe Market Value (US$ Mn) Analysis by Country, 2017 to 2032
Figure 59: Europe Market Volume (Tons) Analysis by Country, 2017 to 2032
Figure 60: Europe Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 61: Europe Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 62: Europe Market Value (US$ Mn) Analysis by Type, 2017 to 2032
Figure 63: Europe Market Volume (Tons) Analysis by Type, 2017 to 2032
Figure 64: Europe Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 65: Europe Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 66: Europe Market Value (US$ Mn) Analysis by Application, 2017 to 2032
Figure 67: Europe Market Volume (Tons) Analysis by Application, 2017 to 2032
Figure 68: Europe Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 69: Europe Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 70: Europe Market Attractiveness by Type, 2022 to 2032
Figure 71: Europe Market Attractiveness by Application, 2022 to 2032
Figure 72: Europe Market Attractiveness by Country, 2022 to 2032
Figure 73: East Asia Market Value (US$ Mn) by Type, 2022 to 2032
Figure 74: East Asia Market Value (US$ Mn) by Application, 2022 to 2032
Figure 75: East Asia Market Value (US$ Mn) by Country, 2022 to 2032
Figure 76: East Asia Market Value (US$ Mn) Analysis by Country, 2017 to 2032
Figure 77: East Asia Market Volume (Tons) Analysis by Country, 2017 to 2032
Figure 78: East Asia Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 79: East Asia Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 80: East Asia Market Value (US$ Mn) Analysis by Type, 2017 to 2032
Figure 81: East Asia Market Volume (Tons) Analysis by Type, 2017 to 2032
Figure 82: East Asia Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 83: East Asia Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 84: East Asia Market Value (US$ Mn) Analysis by Application, 2017 to 2032
Figure 85: East Asia Market Volume (Tons) Analysis by Application, 2017 to 2032
Figure 86: East Asia Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 87: East Asia Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 88: East Asia Market Attractiveness by Type, 2022 to 2032
Figure 89: East Asia Market Attractiveness by Application, 2022 to 2032
Figure 90: East Asia Market Attractiveness by Country, 2022 to 2032
Figure 91: South Asia Market Value (US$ Mn) by Type, 2022 to 2032
Figure 92: South Asia Market Value (US$ Mn) by Application, 2022 to 2032
Figure 93: South Asia Market Value (US$ Mn) by Country, 2022 to 2032
Figure 94: South Asia Market Value (US$ Mn) Analysis by Country, 2017 to 2032
Figure 95: South Asia Market Volume (Tons) Analysis by Country, 2017 to 2032
Figure 96: South Asia Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 97: South Asia Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 98: South Asia Market Value (US$ Mn) Analysis by Type, 2017 to 2032
Figure 99: South Asia Market Volume (Tons) Analysis by Type, 2017 to 2032
Figure 100: South Asia Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 101: South Asia Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 102: South Asia Market Value (US$ Mn) Analysis by Application, 2017 to 2032
Figure 103: South Asia Market Volume (Tons) Analysis by Application, 2017 to 2032
Figure 104: South Asia Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 105: South Asia Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 106: South Asia Market Attractiveness by Type, 2022 to 2032
Figure 107: South Asia Market Attractiveness by Application, 2022 to 2032
Figure 108: South Asia Market Attractiveness by Country, 2022 to 2032
Figure 109: Oceania Market Value (US$ Mn) by Type, 2022 to 2032
Figure 110: Oceania Market Value (US$ Mn) by Application, 2022 to 2032
Figure 111: Oceania Market Value (US$ Mn) by Country, 2022 to 2032
Figure 112: Oceania Market Value (US$ Mn) Analysis by Country, 2017 to 2032
Figure 113: Oceania Market Volume (Tons) Analysis by Country, 2017 to 2032
Figure 114: Oceania Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 115: Oceania Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 116: Oceania Market Value (US$ Mn) Analysis by Type, 2017 to 2032
Figure 117: Oceania Market Volume (Tons) Analysis by Type, 2017 to 2032
Figure 118: Oceania Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 119: Oceania Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 120: Oceania Market Value (US$ Mn) Analysis by Application, 2017 to 2032
Figure 121: Oceania Market Volume (Tons) Analysis by Application, 2017 to 2032
Figure 122: Oceania Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 123: Oceania Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 124: Oceania Market Attractiveness by Type, 2022 to 2032
Figure 125: Oceania Market Attractiveness by Application, 2022 to 2032
Figure 126: Oceania Market Attractiveness by Country, 2022 to 2032
Figure 127: MEA Market Value (US$ Mn) by Type, 2022 to 2032
Figure 128: MEA Market Value (US$ Mn) by Application, 2022 to 2032
Figure 129: MEA Market Value (US$ Mn) by Country, 2022 to 2032
Figure 130: MEA Market Value (US$ Mn) Analysis by Country, 2017 to 2032
Figure 131: MEA Market Volume (Tons) Analysis by Country, 2017 to 2032
Figure 132: MEA Market Value Share (%) and BPS Analysis by Country, 2022 to 2032
Figure 133: MEA Market Y-o-Y Growth (%) Projections by Country, 2022 to 2032
Figure 134: MEA Market Value (US$ Mn) Analysis by Type, 2017 to 2032
Figure 135: MEA Market Volume (Tons) Analysis by Type, 2017 to 2032
Figure 136: MEA Market Value Share (%) and BPS Analysis by Type, 2022 to 2032
Figure 137: MEA Market Y-o-Y Growth (%) Projections by Type, 2022 to 2032
Figure 138: MEA Market Value (US$ Mn) Analysis by Application, 2017 to 2032
Figure 139: MEA Market Volume (Tons) Analysis by Application, 2017 to 2032
Figure 140: MEA Market Value Share (%) and BPS Analysis by Application, 2022 to 2032
Figure 141: MEA Market Y-o-Y Growth (%) Projections by Application, 2022 to 2032
Figure 142: MEA Market Attractiveness by Type, 2022 to 2032
Figure 143: MEA Market Attractiveness by Application, 2022 to 2032
Figure 144: MEA Market Attractiveness by Country, 2022 to 2032
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- FAQs -
What is the current worth of the Aromatic Solvents Market?
The global Aromatic Solvents Market is worth more than US$ 5.9 Bn at present.
What is the sales forecast for Aromatic Solvents Market?
The value of Aromatic Solvents Market is projected to increase at a CAGR of around 3.4% during 2022 to 2032.
What was the last 5 year’s market CAGR?
The value of Aromatic Solvents Market increased at a CAGR of around 2.9% during 2017 to 2021.
What are the key Aromatic Solvents Market Trends?
The global demand for Aromatic Solvents is being fueled by a considerable increase in the usage of aromatic solvents in various industries such as agrochemicals, paints & coatings, automotive, and pharmaceuticals.
At what percentage is sales of Aromatic Solvents Market going to register growth in China?
The market for aromatic solvent in China is projected to expand at a CAGR of around 3.9% during 2022 to 2032.
At what percentage is sales of Aromatic Solvents Market going to register growth in United States?
The growth of the market for aromatic solvents in the United States is projected to expand at a CAGR of around 3.2% during 2022 to 2032.
What do statistics for South Korea and Japan reveal?
While the market in South Korea is expected to grow at nearly 4%, the market in Japan is projected to register a CAGR of nearly 3.5% during 2022 to 2032.
Aromatic Solvents Market