The global Aromatic Solvents market was valued at USD 7.3 Billion in 2018 and is expected to reach USD 9.06 Billion by year 2026, at a CAGR of 2.60%. An aromatic solvent is a solvent that contains an aromatic hydrocarbon such as naptha, toluene or xylene. Aromatic solvents are primarily used as solvents and diluents in various industrial fields. Aromatic solvents such as toluene are commonly used in paints, varnishes, adhesives and as chemical intermediates. These solvents are mostly generated through distillation of crude petroleum stock in the oil refining industry. Aromatic solvents are mostly used as thinners and diluents in several end-user products, such as paints, coatings and cleaners. Aromatic solvents are also used as corrosion inhibitors in the oil and gas industry.

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Top Players in the Global Aromatic Solvents Market:

Royal Dutch Shell Plc, LyondellBasell Industries Holdings B.V, China Petroleum and Chemical Corporation, BASF SE, SK Global Chemical Co., Ltd, China National Petroleum Corporation, Reliance Industries Limited, ExxonMobil Corporation, Chinese Petroleum Corporation.

The rise of the machinery, appliances and automotive markets and the simultaneous rise in building and construction activities are predicted to drive the demand during the forecast period. For its high solvency power and increasing capacity expansion, xylene is expected to achieve the highest CAGR in terms of volumes and values. Additionally, the emerging players have a good opportunity to enter the Aromatic Solvents market, owing to the rapid development and urbanization in various countries across the globe thereby increasing the demand for these solvents. High investment expenditures, licensing of registered technology restrict the entrance of new market which is predicted as the hinder to the growth of Aromatic Solvents Market.

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Market segmentation based on Type Outlook:

• Toluene
• Xylene
• Ethylbenzene solvent

Application Type (Revenue, USD Million; 2016–2026)

• Cleaning and Degreasing
• Printing Inks
• Adhesives
• Paints and coatings
• Others

Regional Outlook:

• North America
  • S.
  • Canada
  • Mexico
• Europe
  • Germany
  • K.
  • Italy
  • France
  • BENELUX
  • Rest of Europe
• Asia Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of APAC
• Latin America
  • Brazil
  • Rest of LATAM
• Middle East Africa
  • Saudi Arabia
  • A.E.
  • South Africa
  • Rest of MEA

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Frequently Asked Questions Answered in the Report:

• What is the estimated revenue growth rate of the global Aromatic Solvents market over the forecast period?
• What are the major factors driving the global market revenue growth?
• Which are the leading manufacturers and suppliers in the global Aromatic Solvents market?
• Which regional market is expected to lead in terms of revenue share in the global Aromatic Solvents market over the forecast years?
• What are the key outcomes of SWOT analysis and Porter’s Five Forces analysis of the market?

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