Global Aromatic Solvents Market is Expected to Reach US$ 7.76 Bn in 2023

Transparency Market
Research
Aromatic Solvents Market - Global Industry Analysis,
Size, Share, Growth, Trends and Forecast 2015 - 2023
Published Date
01-June-2015
152 Page Report
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Press Release
Aromatic Solvents Market Expanding at 4.2% CAGR due to
Widespread Demand from Various Industries : TMR
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Aromatic Solvents Market
REPORT DESCRIPTION
Aromatic Solvents Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 2023
Transparency Market Research has published a new report titled “Aromatic Solvents (Benzene, Toluene,
Xylene, and Others) Market for Pharmaceuticals, Oilfield Chemicals, Automotive, Paints & Coatings,
and Other End-Users – Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2015–
2023.” According to the report, the global aromatic solvents market was valued at US$ 6.18 Bn in 2014 and is
anticipated to reach US$ 7.76 Bn by 2023, expanding at a CAGR of 4.2% between 2015 and 2023.
Browse The Full Report At : http://www.transparencymarketresearch.com/aromatic-solventsmarket.html
Aromatic solvents are organic chemicals primarily used as thinners and diluents in several end-user industries
such as paints & coatings, automotive, textiles, and cleaners. These solvents are manufactured from the
distillation of petroleum stock in the petroleum refining industry. Other chemical conversion processes include
catalytic hydrogenation and alkylation. Aromatic solvents are also obtained from light hydrocarbons such as
ethane, butane, and propane. Steam cracking of straight-chain alkanes and catalytic reforming are widely
accepted manufacturing processes of aromatic solvents in the oil & gas industry. The value chain of the
aromatic solvents market is highly integrated at the first stage, where mostly suppliers of petroleum feedstock
are involved in the manufacture of solvents. For instance, companies such as Royal Dutch Shell plc, Chevron
Phillips Chemical Company, and Exxon Mobil Corporation manufacture aromatics and their derivatives.
In terms of volume, Asia Pacific accounted for more than 50% share of the aromatic solvents market in 2014.
High growth in the chemical industry is the one of the major factors driving the market in Asia Pacific. China
leads the aromatic solvents market in Asia Pacific through the installation of new capacities for the production
of these solvents. Japan is a comparatively mature market; however, shift toward non-aromatic solvents is
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Aromatic Solvents Market
hampering the aromatic solvents market in the country. China, India, Thailand, South Korea, and Indonesia are
projected to drive the aromatic solvents market in Asia Pacific.
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North America and Europe are likely to witness sluggish growth in the global aromatic solvents market. Shale
gas revolution in the U.S. is anticipated to create unfavorable grounds for manufacturers of crude oil. As a
result, the aromatic solvents market is estimated to contract in the region. Similarly, enactment of stringent
regulations in Europe is boosting the usage of water and biobased solvents for industrial uses.
Brazil is likely to lead the growth of aromatic solvents in Latin America. Venezuela and Argentina are the other
countries that are expected to drive the aromatic solvents market in the region due to growth of chemical and
oilfield industries. Middle East and Africa (MEA) is anticipated to witness below average growth rate during the
forecast period. However, demand for aromatic solvents in oilfield chemicals is projected to be higher in MEA
as compared to other regions. This is ascribed to the presence of extensive network of oil and gas recovery
companies which uses aromatic solvents for corrosion inhibition in pipelines.
The global aromatic solvents market is highly fragmented; the top five players accounted for more than 25%
share in 2014. Key players in the aromatic solvents market include UOP LLC (Honeywell International Inc.),
Royal Dutch Shell plc, Eastman Chemical Company, Chevron Phillips Chemical Company, LyondellBasell
Industries N.V., Exxon Mobil Corporation, BASF SE, and Celanese Corporation.
This report segments the global aromatic solvents market as follows:

Aromatic Solvents Market – Product Segment Analysis
◦ Benzene
◦ Toluene
◦ Xylene
◦ Others (Including solvent naphtha such as aromatic 100, aromatic 150, and aromatic 200, etc.)

Aromatic Solvents Market – End-User Analysis
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Aromatic Solvents Market
◦
◦
◦
◦
◦
Pharmaceuticals
Oilfield Chemicals
Automotive
Paints & Coatings
Others (Including pesticide, textiles, cleaners, chemical intermediates, electronics, adhesive &
sealants, perfumes, cosmetics, etc.)

Aromatic Solvents Market – Regional Analysis
◦ North America
▪ U.S.
▪ Rest of North America
◦ Europe
▪ France
▪ U.K.
▪ Spain
▪ Germany
▪ Italy
▪ Rest of Europe
◦ Asia Pacific
▪ China
▪ Japan
▪ ASEAN
▪ Rest of Asia Pacific
◦ Latin America
▪ Brazil
▪ Rest of Latin America
◦ Middle East and Africa (MEA)
▪ GCC
▪ South Africa
▪ Rest of Middle East and Africa
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TABLE OF CONTENT
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Chapter 1 Preface
1.1 Report Description
1.2 Market Segmentation
1.3 Research Scope and Assumptions
1.3.1 Research Scope
1.3.2 Assumptions
1.4 Research Methodology
Chapter 2 Executive Summary
2.1 Global Aromatic Solvents Market, 2014 – 2023 (Kilo Tons) (US$ Mn)
2.1.1 Global Aromatic Solvents Market Snapshot, 2014 & 2023
Chapter 3 Aromatic Solvents Market – Industry Analysis
3.1 Introduction
3.2 Value Chain Analysis
3.3 Market Drivers
3.3.1 High Demand for Aromatic Solvents in Paints & Coatings, and Ink Industry is Expected to Drive the
Demand for Aromatic Solvents
3.3.1.1 Standard Composition of Solvents in Alkyd and Acrylic Paints
3.3.2 Proliferation of Automotive Industry Globally Would Boost the Demand for Adhesives And Sealants
which is One of the Major Applications of Aromatic Solvents
3.3.2.1 Global Adhesive and Sealants Market for Automotive Application, 2014 – 2023 (Kilo Tons)
3.3.3 Robust Growth in the Oil and Gas Industry likely to Increase Demand for Aromatic Solvents
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3.3.3.1 Global Oil/Solvent-Based Corrosion Inhibitors Market, 2014 – 2023 (Kilo Tons)
3.4 Market Restraints
3.4.1 Stringent Environmental Regulations Due to VOC Emissions from Aromatic Solvents is Likely to
Hamper Market Growth
3.4.1.1 Volatile Organic Compounds (VOCs) Content Limit in Paints and Coatings in North and South
Asia Pacific in 2014
3.4.1.2 VOCs Content Limit in Paints and Coatings in North Asia Pacific in 2014
3.4.1.3 VOCs Content Limit in Paints and Coatings in South Asia Pacific in 2014
3.4.2 Industrial Shift Towards Non-Aromatic, Bio-Based, and Water-Based Solvents Due to Toxicity Issue is
Likely to Retard the Growth Of Aromatic Solvents
3.5 Market Opportunities
3.5.1 Development of Light Aromatic Fluids is Expected to Reduce Potential Hazards of Aromatic Solvents
3.6 Porter’s Five Forces Analysis
3.6.1 Bargaining Power of Suppliers
3.6.2 Bargaining Power of Buyers
3.6.3 Threat of New Entrants
3.6.4 Threat of Substitutes
3.6.5 Degree of Competition
3.7 Aromatic Solvents: Market Attractiveness Analysis, by End-User
3.7.1 Aromatic Solvents: Market Attractiveness Analysis, by End-User
3.8 Aromatic Solvents Market: Company Market Share Analysis, 2014
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Chapter 4 Aromatic Solvents Market – Raw Material and Price Trend Analysis
4.1 Global Aromatic Solvents Market: Technical Overview
4.2 Aromatic Solvents – Manufacturing Process
4.3 Raw Material Price Trend Analysis
4.3.1 Global Naphtha Average Price Trends, US$/Ton, 2013 - 2023
4.4 Aromatic Solvents Price Trend Analysis
4.4.1 Global Aromatic Solvents Average Price Trends, 2013 - 2023
Chapter 5 Aromatic Solvents Market – Product Segment Analysis
5.1 Global Aromatic Solvents Market: Product Segment Overview
5.1.1 Global Aromatic Solvents Market Volume Share, By Product Segment, 2014 & 2023
5.2 Benzene
5.2.1 Global Benzene Aromatic Solvents Market, 2014 - 2023 (Kilo Tons) (US$ Mn)
5.3 Toluene
5.3.1 Global Toluene Aromatic Solvents Market, 2014 - 2023 (Kilo Tons) (US$ Mn)
5.4 Xylene
5.4.1 Global Xylene Aromatic Solvents Market, 2014 - 2023 (Kilo Tons) (US$ Mn)
5.5 Others
5.5.1 Global Other Aromatic Solvents Market, 2014 - 2023 (Kilo Tons) (US$ Mn)
Chapter 6 Aromatic Solvents Market – End-User Analysis
6.1 Global Aromatic Solvents Market : End-User Overview
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6.1.1 Global Aromatic Solvents Market Volume Share, by End-User, 2014 & 2023
6.2 Pharmaceuticals
6.2.1 Global Aromatic Solvents Market for Pharmaceutical, 2014 - 2023 (Kilo Tons) (US$ Mn)
6.3 Oilfield Chemicals
6.3.1 Global Aromatic Solvents Market for Oilfield Chemicals, 2014 - 2023 (Kilo Tons) (US$ Mn)
6.4 Automotive
6.4.1 Global Aromatic Solvents Market for Automotive, 2014 - 2023 (Kilo Tons) (US$ Mn)
6.5 Paints & Coatings
6.5.1 Global Aromatic Solvents Market for Paints & Coatings, 2014 - 2023 (Kilo Tons) (US$ Mn)
6.6 Others
6.6.1 Global Aromatic Solvents Market for Other End-User Industries, 2014 - 2023 (Kilo Tons) (US$ Mn)
Chapter 7 Aromatic Solvents Market – Regional Analysis
7.1 Global Aromatic Solvents Market: Regional Overview
7.1.1 Global Aromatic Solvents Market Volume Share, By Region, 2014 & 2023
7.2 North America
7.2.1 North America Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.2.2 North America Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.2.3 North America Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.2.4 North America Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.2.5 U.S.
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7.2.5.1 U.S. Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.2.5.2 U.S. Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.2.5.3 U.S. Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.2.5.4 U.S. Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.2.6 Rest of North America (RoNA)
7.2.6.1 RoNA Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.2.6.2 RoNA Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.2.6.3 RoNA Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.2.6.4 RoNA Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.3 Europe
7.3.1 Europe Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.3.2 Europe Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.3.3 Europe Aromatic Solvents Market Volume, By End-users, 2014 –2023 (Kilo Tons)
7.3.4 Europe Aromatic Solvents Market Revenue, By End-users, 2014 –2023 (US$ Mn)
7.3.5 France
7.3.5.1 France Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.3.5.2 France Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.3.5.3 France Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.3.5.4 France Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.3.6 UK
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7.3.6.1 UK Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.3.6.2 UK Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.3.6.3 UK Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.3.6.4 UK Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.3.7 Spain
7.3.7.1 Spain Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.3.7.2 Spain Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.3.7.3 Spain Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.3.7.4 Spain Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.3.8 Germany
7.3.8.1 Germany Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.3.8.2 Germany Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.3.8.3 Germany Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.3.8.4 Germany Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.3.9 Italy
7.3.9.1 Italy Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.3.9.2 Italy Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.3.9.3 Italy Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.3.9.4 Italy Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.3.10 Rest of Europe (RoE)
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7.3.10.1 RoE Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.3.10.2 RoE Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.3.10.3 RoE Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.3.10.4 RoE Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.4 Asia Pacific
7.4.1 Asia Pacific Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.4.2 Asia Pacific Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.4.3 Asia Pacific Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.4.4 Asia Pacific Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.4.5 China
7.4.5.1 China Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.4.5.2 China Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.4.5.3 China Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.4.5.4 China Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.4.6 Japan
7.4.6.1 Japan Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.4.6.2 Japan Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.4.6.3 Japan Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.4.6.4 Japan Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.4.7 ASEAN
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7.4.7.1 ASEAN Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.4.7.2 ASEAN Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.4.7.3 ASEAN Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.4.7.4 ASEAN Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.4.8 Rest of Asia Pacific
7.4.8.1 Rest of Asia Pacific Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo
Tons)
7.4.8.2 Rest of Asia Pacific Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023
(US$ Mn)
7.4.8.3 Rest of Asia Pacific Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.4.8.4 Rest of Asia Pacific Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.5 Latin America
7.5.1 Latin America Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.5.2 Latin America Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.5.3 Latin America Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.5.4 Latin America Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.5.5 Brazil
7.5.5.1 Brazil Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.5.5.2 Brazil Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.5.5.3 Brazil Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.5.5.4 Brazil Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
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7.5.6 Rest of Latin America
7.5.6.1 Rest of Latin America Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023
(Kilo Tons)
7.5.6.2 Rest of Latin America Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023
(US$ Mn)
7.5.6.3 Rest of Latin America Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo
Tons)
7.5.6.4 Rest of Latin America Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$
Mn)
7.6 Middle East & Africa (MEA)
7.6.1 MEA Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.6.2 MEA Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.6.3 MEA Aromatic Solvents Market Volume, By End-users, 2014 –2023 (Kilo Tons)
7.6.4 MEA Aromatic Solvents Market Revenue, By End-users, 2014 –2023 (US$ Mn)
7.6.5 GCC
7.6.5.1 GCC Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.6.5.2 GCC Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.6.5.3 GCC Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.6.5.4 GCC Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.6.6 South Africa
7.6.6.1 South Africa Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
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7.6.6.2 South Africa Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.6.6.3 South Africa Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.6.6.4 South Africa Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
7.6.7 Rest of MEA
7.6.7.1 Rest of MEA Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)
7.6.7.2 Rest of MEA Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)
7.6.7.3 Rest of MEA Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)
7.6.7.4 Rest of MEA Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)
Chapter 8 Company Profiles
8.1 Ashland Inc.
8.2 BASF SE
8.3 Celanese Corporation
8.4 DEZA, a. s.
8.5 Eastman Chemical Company
8.6 Exxon Mobil Corporation (ExxonMobil)
8.7 Huntsman Corporation
8.8 INEOS AG
8.9 LyondellBasell Industries N.V.
8.10 Oil Refineries Ltd.
8.11 Petrochem Carless
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8.12 Royal Dutch Shell plc
8.13 Honeywell UOP
Chapter 9 Primary Research – Key Findings
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Aromatic Solvents Market- Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015-2023. The market is anticipated to reach US$ 7.76 Bn by 2023