Global Toluene - Segment Analysis, Opportunity Assessment, Competitive Intelligence, Industry Outlook 2016-2027
Regional Analysis
Asia
pacific is estimated to be the largest toluene market followed by North America
and Europe due to strong existence of crude oil reserves which reduces the raw
material demand gap for toluene market. In Europe, Germany, Russia, and Spain
are predicted to register a strong growth on account of tremendous demand for
toluene in gasoline additive manufacturing. In North America, countries such as
U.S. and Canada are the fastest growing market for toluene, and is estimated to
grow with the same pace over the forecast period. Rising demand for solvent
segment to manufacture paints & coatings, adhesives and industrial cleaning
agents is predicted to contribute to the regional market growth. In Middle East
& Africa, U.A.E, Saudi Arabia and Kuwait are among the major contributors
in the regional market growth due to expansion of oil & gas offshore and onshore
activities as well as increasing innovations. In South America, Mexico is
expected to register strong growth due to robust presence of automobile
manufacturers.
Market Overview:
The
major application of toluene is to improve octane rating of gasoline. Toluene
is also used to produce benzene and as a solvent in paints, coatings,
adhesives, inks, and cleaning agents. Toluene is also used in the production of
polymers used to make nylon, plastic soda bottles, and polyurethanes and for
pharmaceuticals, dyes, cosmetic nail products, and the synthesis of organic
chemicals.
Some
of the prominent factors that positively influence the growth of toluene market
are increasing crude oil production, rising demand for fuel additives, and
increasing consumption of paints & coatings owing to rapid urbanization.
Increasing urbanization along with rising per capita disposable income in
developed and emerging economies are predicted to drive the growth of the
market over the forecast period, 2017 to 2023. Increasing benzene and xylene
production from toluene owing to the demand from plastics manufacturing
industries. Moreover, continuous expansion of automotive sector as well as
shifting manufacturers focus towards effective gasoline as fuel is estimated to
fuel the growth of the market during the review period, 2017 to 2023. However,
growing environmental concern regarding the toxic effect of chemicals used in
toluene solvent along with the implementation of strict regulations are
predicted to hinder the market growth over the assessment period, 2017 to 2023.
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Competitive Analysis
Some
of the prominent players operating in the global toluene market are Exxon Mobil
Corporation (U.S.), Covestro AG (Germany), BP p.l.c. (U.K), China Petroleum
& Chemical Corporation (China), BASF SE (Germany), Royal Dutch Shell plc
(the Netherlands), Formosa Chemicals & Fibre Corporation (Taiwan), Indian
Oil Corporation Ltd (India), The Dow Chemical Company (U.S), TOTAL S.A.
(France), and others.
Market Segmentation
The
global toluene market is categorized on the basis of grade, application, and
region. On the basis of grade, the market is bifurcated into commercial,
nitration, and toluene diisocyantes. On the basis of application, the toluene
market is categorized into intermediates, fuel additives, foam, polymer
production, solvents, and others. On the basis of region, the market is
categorized into Asia Pacific, Europe, Latin America, North America, and the
Middle East & Africa.
Table Of Contents
1 Executive Summary
2 Market Introduction
2.1
Market Definition
2.2
Scope Of The Study
2.3
List Of Assumptions
2.4
Markets Structure
3 Market Research Methodology
3.1
Research Process
3.2
Primary Research
3.3
Secondary Research
3.4
Market Size Estimation
3.5
Forecast Model
4 Market Dynamics Of The Global Toluene Market
4.1
Introduction
4.2
Drivers
4.3
Restraints
4.4
Opportunities
4.5
Challenges
4.6
Trends/Technology
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