Press release
Toluene Market Comprehensive Analysis of Segmental Insights, Industry Dynamics, and Competitive Landscape 2021-2030
Allied Market Research recently released a report titled "Toluene Market by Derivative Type (Benzene & Xylene, Toluene Diisocyanates, Gasoline Additives, and Others), Application (Drugs, Dyes, Blending, Cosmetic Nail Products, and Others), and Production Process (Reformate Processes, Pygas Processes, Coke/Coal Processes, and Styrene Processes): Global Opportunity Analysis and Industry Forecast, 2021-2030". According to this report, the global toluene industry raked in $20.09 billion in 2020 and is poised to reach $33.23 billion by 2030, marking a notable CAGR of 5.2% from 2021 to 2030.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 : https://www.alliedmarketresearch.com/request-sample/1983
Key Growth Drivers
The expansion of toluene's application scope and the rising demand from the paints & coatings sector are major growth drivers for the global toluene market. However, regulatory frameworks pose challenges to market growth, while the production of shale gas-based toluene offers promising opportunities in the future.
Toluene, a clear, water-insoluble aromatic hydrocarbon solvent with a distinctive benzene-like odor, is highly volatile and flammable. It's derived from petroleum and coal tar and finds extensive use as a solvent in various organic chemical manufacturing processes, including those for benzene, xylene, and toluene diisocyanate. Additionally, it serves as a solvent in paints, thinners, adhesives, and inks.
The increasing applications of toluene across sectors such as drugs, blending, cosmetics, pesticides & fertilizers, and others are driving its usage. Particularly in the paints & coatings industry, toluene's role as a solvent for thinning paints, enamels, varnishes, and alkyd resins is expected to fuel market growth, thanks to rising demands from automotive, consumer durables, and construction sectors.
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/purchase-enquiry/1983
Reformate Processes to Lead
In terms of production processes, the reformate processes segment held the highest market share in 2020 and is forecasted to maintain its dominance throughout the projection period. It's expected to exhibit the highest CAGR of 5.5% from 2021 to 2030, primarily due to its significance in producing aromatic hydrocarbons like benzene and toluene.
Leading in End-Use Segments
In the end-use segment, drugs accounted for the largest share in 2020 and are expected to maintain their lead position. This is attributed to the growing prevalence of diseases, particularly in the pharmaceutical sector, where toluene is a crucial intermediate for CNS depressant drugs. Meanwhile, the blending segment is set to witness the highest CAGR of 5.7% from 2021 to 2030, driven by increased demand from the paints & coatings sector.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/toluene-market/purchase-options
Regional Outlook
Asia-Pacific, followed by North America, dominated the market in 2020 and is anticipated to maintain its dominance by 2030. Asia-Pacific is expected to witness the fastest CAGR of 5.8% during the forecast period, driven by toluene utilization across various sectors such as paints & coatings, cosmetics, chemical manufacturing, and healthcare.
Key Players
Some of the key players in the toluene market include BASF SE, Chevron Phillips Chemical Company LLC, Dhanlaxami Organics & Chemicals, ExxonMobil Corporation, Kakdiya Chemicals, LyondellBasell Industries Holdings B.V., Mitsubishi Chemicals Corporation, Mitsui Chemicals, Pon Pure Chemicals, and Valero Energy.
𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :
sodium-metabisulphite-market : https://www.alliedmarketresearch.com/sodium-metabisulphite-market
Carry Handle Adhesive Tapes Market : https://www.alliedmarketresearch.com/carry-handle-adhesive-tapes-market
produced water treatment systems market : https://www.alliedmarketresearch.com/produced-water-treatment-systems-market
energy curing market : https://www.alliedmarketresearch.com/energy-curing-market
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐃𝐅 : https://www.alliedmarketresearch.com/request-sample/1983
Key Growth Drivers
The expansion of toluene's application scope and the rising demand from the paints & coatings sector are major growth drivers for the global toluene market. However, regulatory frameworks pose challenges to market growth, while the production of shale gas-based toluene offers promising opportunities in the future.
Toluene, a clear, water-insoluble aromatic hydrocarbon solvent with a distinctive benzene-like odor, is highly volatile and flammable. It's derived from petroleum and coal tar and finds extensive use as a solvent in various organic chemical manufacturing processes, including those for benzene, xylene, and toluene diisocyanate. Additionally, it serves as a solvent in paints, thinners, adhesives, and inks.
The increasing applications of toluene across sectors such as drugs, blending, cosmetics, pesticides & fertilizers, and others are driving its usage. Particularly in the paints & coatings industry, toluene's role as a solvent for thinning paints, enamels, varnishes, and alkyd resins is expected to fuel market growth, thanks to rising demands from automotive, consumer durables, and construction sectors.
𝐏𝐮𝐫𝐜𝐡𝐚𝐬𝐞 𝐄𝐧𝐪𝐮𝐢𝐫𝐲 𝐑𝐞𝐩𝐨𝐫𝐭 @ https://www.alliedmarketresearch.com/purchase-enquiry/1983
Reformate Processes to Lead
In terms of production processes, the reformate processes segment held the highest market share in 2020 and is forecasted to maintain its dominance throughout the projection period. It's expected to exhibit the highest CAGR of 5.5% from 2021 to 2030, primarily due to its significance in producing aromatic hydrocarbons like benzene and toluene.
Leading in End-Use Segments
In the end-use segment, drugs accounted for the largest share in 2020 and are expected to maintain their lead position. This is attributed to the growing prevalence of diseases, particularly in the pharmaceutical sector, where toluene is a crucial intermediate for CNS depressant drugs. Meanwhile, the blending segment is set to witness the highest CAGR of 5.7% from 2021 to 2030, driven by increased demand from the paints & coatings sector.
𝐈𝐧𝐭𝐞𝐫𝐞𝐬𝐭𝐞𝐝 𝐢𝐧 𝐏𝐫𝐨𝐜𝐮𝐫𝐢𝐧𝐠 𝐭𝐡𝐢𝐬 𝐑𝐞𝐩𝐨𝐫𝐭? 𝐕𝐢𝐬𝐢𝐭 𝐇𝐞𝐫𝐞: https://www.alliedmarketresearch.com/toluene-market/purchase-options
Regional Outlook
Asia-Pacific, followed by North America, dominated the market in 2020 and is anticipated to maintain its dominance by 2030. Asia-Pacific is expected to witness the fastest CAGR of 5.8% during the forecast period, driven by toluene utilization across various sectors such as paints & coatings, cosmetics, chemical manufacturing, and healthcare.
Key Players
Some of the key players in the toluene market include BASF SE, Chevron Phillips Chemical Company LLC, Dhanlaxami Organics & Chemicals, ExxonMobil Corporation, Kakdiya Chemicals, LyondellBasell Industries Holdings B.V., Mitsubishi Chemicals Corporation, Mitsui Chemicals, Pon Pure Chemicals, and Valero Energy.
𝐒𝐢𝐦𝐢𝐥𝐚𝐫 𝐑𝐞𝐩𝐨𝐫𝐭𝐬 :
sodium-metabisulphite-market : https://www.alliedmarketresearch.com/sodium-metabisulphite-market
Carry Handle Adhesive Tapes Market : https://www.alliedmarketresearch.com/carry-handle-adhesive-tapes-market
produced water treatment systems market : https://www.alliedmarketresearch.com/produced-water-treatment-systems-market
energy curing market : https://www.alliedmarketresearch.com/energy-curing-market
Contact:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free: 1-800-792-5285
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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