Aromatic Solvents Market by Type (Toluene, Xylene, Ethylbenzene), Application (Paints & Coatings, Printing Inks, Adhesives, Metal Cleaning) and Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) - Global Forecast to 2023

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Date: 02-Oct-2018
No. of pages: 107
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The aromatic solvents market is projected to register a CAGR of 2.66%

The aromatic solvents market is projected to grow from USD 7.27 billion in 2018 to USD 8.29 billion by 2023, at a CAGR of 2.66% during the forecast period. The growth in the automotive and construction industries is expected to drive the demand for aromatic solvents during the forecast period. The harmful effects of aromatic solvents act as a challenge for the market growth.

The paints & coatings application is expected to lead the aromatic solvents market during the forecast period, in terms of both value and volume

By application, the paints & coatings segment is expected to lead the aromatic solvents market during the forecast period. This is due to the demand for construction chemicals in the paints & coatings application. In addition, the rapid growth in population and the growing automotive industry in the region are expected to boost the aromatic solvents market in the paints & coatings application. In addition, the growth of the automotive, OEM, machinery, and appliances markets, globally are expected to drive demand for aromatic solvents in this application during the forecast period.

Asia Pacific is projected to lead the aromatic solvents market between 2018 and 2023, in terms of both value and volume

The aromatic solvents market has been studied for North America, Europe, Asia Pacific, South America, and the Middle East &Africa. The Asia Pacific region is expected to lead the aromatic solvents market during the forecast period ,owing to the increased manufacturing base of aromatic solvents in the economies such as China, India, and South Korea. In addition, rapid industrialization and urbanization accompanied by the rising demand for automobiles are expected to contribute to the growth of the aromatic solvents market in the region. The rapid growth in building & construction activities is also expected to drive the demand for aromatic solvents in the paints & coatings application.

Breakdown of Primaries:

Primary interviews have been conducted with a number of industry experts to obtain information related to the aromatic solvents market.

The breakdown of primary interviews has been depicted below:


  • By Company Type: Tier 1 - 31%, Tier 2 - 46%, and Tier 3 - 23%

  • By Designation: C-Level Executives- 11%, Directors- 22%, and Others - 67%

  • By Region: Asia Pacific - 56%, North America – 22%, Europe - 11%, and RoW- 11%


Key companies supplying aromatic solvents are:


  • China Petroleum and Chemical Corporation (China),

  • Royal Dutch Shell Plc. (Netherlands)

  • BASF SE(Germany)

  • ExxonMobil Corporation (US)

  • LyondellBasell Industries Holdings B.V. (Netherlands)

  • SK Global Chemical Co., Ltd. (South Korea)

  • China National Petroleum Corporation (China)

  • Reliance Industries Limited (India)

  • Chinese Petroleum Corporation (Taiwan)

  • Total S.A. (France)


Research Coverage

This report segments the aromatic solvents market on the basis of product type, application, and region. It provides estimations for the overall value of the aromatic solvents market and its subsegments across various regions. A detailed analysis of the key players in the aromatic solvents market has been conducted to provide insights into their businesses, products & services offered, key growth strategies adopted, and recent developments undertaken by them, such as expansions, acquisitions, and agreements.

Reasons to Buy the Report:

This report is expected to help leaders/new entrants in the aromatic solvents market in the following ways:


  • Provide a better understanding of the aromatic solvents market

  • Provide information on the drivers, restraints, challenges, and opportunities influencing the growth of the aromatic solvents market

  • Gain insights regarding competitors and their positions in the aromatic solvents market

Aromatic Solvents Market by Type (Toluene, Xylene, Ethylbenzene), Application (Paints & Coatings, Printing Inks, Adhesives, Metal Cleaning) and Region (Asia Pacific, North America, Europe, Middle East & Africa, South America) - Global Forecast to 2023

Table of Contents

1 Introduction
1.1 Objectives of the Study
1.2 Market Definition
1.3 Market Scope
1.3.1 Years Considered for the Study
1.3.2 Currency
1.3.3 Unit Considered
1.3.4 Limitations
1.4 Stakeholders

2 Research Methodology
2.1 Research Data
2.1.1 Secondary Data
2.1.1.1 Key Data From Secondary Sources
2.1.2 Primary Data
2.1.2.1 Key Data From Primary Sources
2.1.2.2 Breakdown of Primary Interviews
2.2 Market Size Estimation
2.2.1 Bottom-Up Approach
2.2.2 Top-Down Approach
2.3 Data Triangulation
2.4 Assumptions

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the  Aromatic Solvents Market
4.2 Aromatic Solvents Market, By Region, 2018–2023
4.3 Aromatic Solvents Market, By Region
4.4 Aromatic Solvents Market, By Product Type

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Demand From the Construction and Automotive Industries
5.2.2 Restraints
5.2.2.1 Industries Shifting Focus on Green Solvents
5.2.3 Opportunities
5.2.3.1 Growing Opportunities From Emerging Economies
5.2.4 Challenges
5.2.4.1 Harmful Effects of Aromatic Solvents
5.3 Porter’s Five Forces Analysis: Aromatic Solvents Market
5.3.1 Threat 0f New Entrants
5.3.2 Threat of Substitutes
5.3.3 Bargaining Power of Buyers
5.3.4 Bargaining Power of Suppliers
5.3.5 Intensity of Competitive Rivalry
5.4 Macroeconomic Indicators
5.4.1 GDP of Major Economies in Terms of Ppp
5.4.2 Trends and Forecast of Automotive Industry and Its Impact on Solvents Market

6 Aromatic Solvents Market, By Type
6.1 Introduction
6.1.1 Aromatic Solvents
6.1.1.1.1 Toluene
6.1.1.1.2 Xylene
6.1.1.1.2.1 Para-Xylene (Px)
6.1.1.1.2.2 Mixed-Xylene
6.1.1.1.3 Ethylbenzene

7 Aromatic Solvents Market, By Application
7.1 Introduction
7.2 Applications of Toluene
7.2.1 Paints & Coatings
7.2.2 Adhesives
7.2.3 Printing Inks
7.2.4 Others
7.3 Applications of Xylene
7.3.1 Paints & Coatings
7.3.2 Adhesives
7.3.3 Metal Cleaning
7.3.4 Others
7.4 Application of Ethylbenzene
7.4.1 Paints & Coatings
7.4.2 Metal Cleaning
7.4.3 Others

8 Aromatic Solvents Market, By Region
8.1 Introduction
8.2 APAC
8.3 Europe
8.4 North America
8.5 Middle East & Africa
8.6 South America

9 Competitive Landscape
9.1 Overview
9.2 Market Ranking
9.2.1 China Petroleum & Chemical Corporation
9.2.2 Exxonmobil Corporation
9.2.3 SK Global Chemical Co., Ltd.
9.3 Competitive Situations & Trends
9.3.1 Expansions
9.3.2 Agreements
9.3.3 Acquisitions

10 Company Profiles
10.1 China Petroleum & Chemical Corportaion
10.1.1 Business Overview
10.1.2 Products Offered
10.1.3 SWOT Analysis
10.1.4 MnM View
10.2 Exxonmobil Corporation
10.2.1 Business Overview
10.2.2 Products Offered
10.2.3 Recent Developments
10.2.4 SWOT Analysis
10.2.5 MnM View
10.3 SK Global Chemical Co., Ltd.
10.3.1 Business Overview
10.3.2 Products Offered
10.3.3 Recent Developments
10.3.4 SWOT Analysis
10.3.5 MnM View
10.4 Royal Dutch Shell Plc
10.4.1 Business Overview
10.4.2 Products Offered
10.4.3 Recent Developments
10.4.4 SWOT Analysis
10.4.5 MnM View
10.5 BASF SE
10.5.1 Business Overview
10.5.2 Products Offered
10.5.3 Recent Developments
10.5.4 SWOT Analysis
10.5.5 MnM View
10.6 Lyondellbasell Industries Holdings B.V.
10.6.1 Business Overview
10.6.2 Products Offered
10.6.3 Recent Developments
10.7 China National Petroleum Corporation (CNPC)
10.7.1 Business Overview
10.7.2 Products Offered
10.7.3 Recent Developments
10.8 Reliance Industries Limited
10.8.1 Business Overview
10.8.2 Products Offered
10.8.3 Recent Developments
10.9 Total S.A.
10.9.1 Business Overview
10.9.2 Products Offered
10.10 Chinese Petroleum Corporation (CPC)
10.10.1 Business Overview
10.10.2 Products Offered
10.11 Other Market Players
10.11.1 Bharat Petroleum Corporation Limited
10.11.2 Chevron Phillips Chemical Co.
10.11.3 Formosa Chemicals & Fibre Corporation
10.11.4 Gotham Industries
10.11.5 Haltermann Carless
10.11.6 Indian Oil Corporation Limited
10.11.7 Pon Pure Chemicals Group
10.11.8 Recochem Inc.
10.11.9 Top Solvent Co., Ltd.
10.11.10 W.M. Barr & Company Inc.

11 Appendix
11.1 Insights of Industry Experts
11.2 Discussion Guide
11.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
11.4 Available Customizations
11.5 Related Reports
11.6 Author Details

List of Tables

Table 1 Top 10 Economies By GDP in Ppp Terms, 2017
Table 2 GDP of Major Economies, in Terms of Ppp, 2016-2023 (USD Billion)
Table 3 Aromatic Solvents Market Size, By Product Type, 2016–2023 (Kiloton)
Table 4 Aromatic Solvents Market Size, By Product Type, 2016–2023 (USD Million)
Table 5 Toluene : General Properties
Table 6 Toluene Solvents Market Size, By Region, 2016–2023 (Kiloton)
Table 7 Toluene Solvents Market Size, By Region, 2016–2023 (USD Million)
Table 8 Xylene Solvents Market Size, By Region, 2016–2023 (Kiloton)
Table 9 Xylene Solvents Market Size, By Region, 2016–2023 (USD Million)
Table 10 Para-Xylene : General Properties
Table 11 Mixed-Xylene : General Properties
Table 12 Ethylbenzene : General Properties
Table 13 Ethylbenzene Solvents Market Size, By Region, 2016–2023 (Kiloton)
Table 14 Ethylbenzene Solvents Market Size, By Region, 2016–2023 (USD Million)
Table 15 Toluene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 16 Toluene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 17 Toluene Solvents Market Size in Paints & Coatings Application, By Region, 2016–2023 (Kiloton)
Table 18 Toluene Solvents Market Size in Paints & Coatings Application, By Region, 2016–2023 (USD Million)
Table 19 Toluene Solvents Market Size in Adhesives Application, By Region, 2016–2023 (Kiloton)
Table 20 Toluene Solvents Market Size in Adhesives Application, By Region, 2016–2023 (USD Million)
Table 21 Toluene Solvents Market Size in Printing Inks Application, By Region, 2016–2023 (Kiloton)
Table 22 Toluene Solvents Market Size in Printing Inks Application, By Region, 2016–2023 (USD Million)
Table 23 Toluene Solvents Market Size in Others Application, By Region, 2016–2023 (Kiloton)
Table 24 Toluene Solvents Market Size in Others Application, By Region, 2016–2023 (USD Million)
Table 25 Xylene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 26 Xylene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 27 Xylene Solvents Market Size in Paints & Coatings Application, By Region, 2016–2023 (Kiloton)
Table 28 Xylene Solvents Market Size in Paints & Coatings Application, By Region, 2016–2023 (USD Million)
Table 29 Xylene Solvents Market Size in Adhesives Application, By Region, 2016–2023 (Kiloton)
Table 30 Xylene Solvents Market Size in Adhesives Application, By Region, 2016–2023 (USD Million)
Table 31 Xylene Solvents Market Size in Metal Cleaning Application, By Region, 2016–2023 (Kiloton)
Table 32 Xylene Solvents Market Size in Metal Cleaning Application, By Region, 2016–2023 (USD Million)
Table 33 Xylene Solvents Market Size in Others Application, By Region, 2016–2023 (Kiloton)
Table 34 Xylene Solvents Market Size in Others Application, By Region, 2016–2023 (USD Million)
Table 35 Ethylbenzene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 36 Ethylbenzene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 37 Ethylbenzene Solvents Market Size in Paints & Coatings Application, By Region, 2016–2023 (Kiloton)
Table 38 Ethylbenzene Solvents Market Size in Paints & Coatings Application, By Region, 2016–2023 (USD Million)
Table 39 Ethylbenzene Solvents Market Size in Metal Cleaning Application, By Region, 2016–2023 (Kiloton)
Table 40 Ethylbenzene Solvents Market Size in Metal Cleaning Application, By Region, 2016–2023 (USD Million)
Table 41 Ethylbenzene Solvents Market Size in Others Application, By Region, 2016–2023 (Kiloton)
Table 42 Ethylbenzene Solvents Market Size in Others Application, By Region, 2016–2023 (USD Million)
Table 43 Aromatic Solvents Market Size, By Region, 2016–2023 (Kiloton)
Table 44 Aromatic Solvents Market Size, By Region, 2016–2023 (USD Million)
Table 45 APAC: Aromatic Solvents Market Size, By Product Type, 2016–2023 (Kiloton)
Table 46 APAC: Aromatic Solvents Market Size, By Product Type, 2016–2023 (USD Million)
Table 47 APAC: Toluene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 48 APAC: Toluene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 49 APAC: Xylene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 50 APAC: Xylene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 51 APAC: Ethylbenzene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 52 APAC: Ethylbenzene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 53 Europe: Aromatic Solvents Market Size, By Product Type, 2016–2023 (Kiloton)
Table 54 Europe: Aromatic Solvents Market Size, By Product Type, 2016–2023 (USD Million)
Table 55 Europe: Toluene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 56 Europe: Toluene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 57 Europe: Xylene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 58 Europe: Xylene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 59 Europe: Ethylbenzene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 60 Europe: Ethylbenzene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 61 North America: Aromatic Solvents Market Size, By Product Type, 2016–2023 (Kiloton)
Table 62 North America: Aromatic Solvents Market Size, By Product Type, 2016–2023 (USD Million)
Table 63 North America: Toluene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 64 North America: Toluene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 65 North America: Xylene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 66 North America: Xylene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 67 North America: Ethylbenzene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 68 North America: Ethylbenene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 69 Middle East & Africa: Aromatic Solvents Market Size, By Product Type, 2016–2023 (Kiloton)
Table 70 Middle East & Africa: Aromatic Solvents Market Size, By Product Ype, 2016–2023 (USD Million)
Table 71 Middle East & Africa: Toluene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 72 Middle East & Africa: Toluene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 73 Middle East & Africa: Xylene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 74 Middle East & Africa: Xylene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 75 Middle East & Africa: Ethylbenzene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 76 Middle East & Africa: Ethylbenzene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 77 South America: Aromatic Solvents Market Size, By Product Type, 2016–2023 (Kiloton)
Table 78 South America: Aromatic Solvents Market Size, By Product Type, 2016–2023 (USD Million)
Table 79 South America: Toluene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 80 South America: Toluene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 81 South America: Xylene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 82 South America: Xylene Solvents Market Size, By Application, 2016–2023 (USD Million)
Table 83 South America: Ethylbenzene Solvents Market Size, By Application, 2016–2023 (Kiloton)
Table 84 South America: Ethylbenzene Solvents Market Size, By Application, 2016-2023 (USD Million)
Table 85 Expansions, 2013–2018
Table 86 Agreements, 2013–2018
Table 87 Acquisitions, 2013–2018

List of Figures

Figure 1 Aromatic Solvents Market Segmentation
Figure 2 Aromatic Solvents Market: Research Design
Figure 3 Aromatic Solvents Market: Data Triangulation
Figure 4 Aromatic Solvents Market to Be Driven By Increasing Demand for Toluene
Figure 5 APAC Was the Largest Solvents Market in 2017
Figure 6 Growing Demand for Automobiles to Drive the Aromatic Solvents Market Between 2018 and 2023
Figure 7 APAC to Be the Largest Market for Aromatic Solvents
Figure 8 APAC to Be the Fastest-Growing Aromatic Solvents Market
Figure 9 Toluene Was the Largest Product Type of Aromatic Solvents
Figure 10 Overview of Factors Governing the Aromatic Solvents Market
Figure 11 Porter’s Five Forces Analysis: Aromatic Solvents Market
Figure 12 World Motor Vehicle Production in 2017
Figure 13 Toluene to Dominate the Aromatic Solvents Market
Figure 14 APAC to Dominate Toluene Solvents Market
Figure 15 APAC to Dominate Xylene Solvents Market
Figure 16 APAC to Dominate Ethylbenzene Solvents Market
Figure 17 Expansions Was the Key Growth Strategy Adopted By the Market Players Between 2013 and 2018
Figure 18 Market Ranking of Aromatic Solvents Manufacturers, 2017
Figure 19 China Petroleum & Chemical Corporation: Company Snapshot
Figure 20 China Petroleum & Chemical Corporation: SWOT Analysis
Figure 21 Exxonmobil Corporation : Company Snapshot
Figure 22 Exxonmobil Corporation: SWOT Analysis
Figure 23 SK Global Chemical Co., Ltd. : Company Snapshot
Figure 24 SK Global Chemical Co., Ltd: SWOT Analysis
Figure 25 Royal Dutch Shell PLC: Company Snapshot
Figure 26 Royal Dutch Shell PLC: SWOT Analysis
Figure 27 BASF SE : Company Snapshot
Figure 28 BASF SE: SWOT Analysis
Figure 29 Lyondellbasell Industries Holdings B.V.: Company Snapshot
Figure 30 China National Petroleum Corporation: Company Snapshot
Figure 31 Reliance Industries Limited: Company Snapshot
Figure 32 Total SA: Company Snapshot
Figure 33 Chinese Petroleum Corporation : Company Snapshot

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