Transcript
Toluene Market Analysis: Plant Capacity, Production, Operating Efficiency, Process, Technology, Demand & Supply, End-User Industries, Distribution Channel, Regional Demand, 2015-2035
Toluene Market experienced considerable growth as its demand reached 25.9 million tonnes in 2022 and is expected to achieve a healthy CAGR of 5.15% during the forecast period. Toluene, also known as Toluol, is a seven-carbon aromatic hydrocarbon that is clear and colorless in nature. Toluene is primarily utilized in the synthesis of various chemical derivatives like Toluene Diisocyanate (TDI), Benzoic Acid, and others. It is extensively used as a solvent and an industrial feedstock. Since the organic compound is regarded as a universal solvent, it can be directly used in disinfectants, thinners, paints, foams, cleaning agents, adhesives, fuel additives, etc. It also finds its applications in the transportation sector as an octane booster for gasoline with high RON. The increasing demand for aromatics in the petrochemical industry to produce elastomers, agrochemicals, dyes, etc., is driving the market around the world as it is regarded as an aromatic compound due to the presence of benzene ring in its chemical structure. Industrial production of Toluene is done via two methods. In the first method, it is extracted from the pyrolysis of gasoline, which in turn is produced from Naphtha cracking. In the second method, it is extracted from reformate, which is also produced from heavy Naphtha cracking. The demand for Toluene is expected to showcase a downward trajectory in some of the segments in the upcoming years due to restrictions on its consumption as it has a significant level of toxicity. However, with the toxicity of Toluene being much less in comparison to Benzene, it serves as a viable replacement for the latter in some applications. Read Full Report Here @ https://www.chemanalyst.com/industry-report/toluene-market-665 Based on the derivative types, the Toluene market is segmented into Benzene and Xylene, Solvents, Gasoline Additives, Toluene Diisocyanate, and others (TNT, Benzoic acid, Benzaldehyde). The Benzene and Xylene segment accounts for the largest market share of 56.45% in 2021, owing to the increased usage of Benzene in textile industries and Xylene in paints and coatings and chemical industries. On the basis of end-use, the market is segregated into building and construction, automotive, oil and gas, paints and coatings, pharmaceuticals, and others. Among these, the paints and coatings sector dominated the Toluene market across the globe with a market share of 24.78% and is expected to maintain its dominance in the forecast period as well. The building and construction segment is also
expected to witness robust growth in the next few years owing to the number of construction projects lined up, which will further boost the demand for Toluene in the future. In 2020, the sudden outbreak of COVID-19 had a far-reaching impact on the Toluene market across the globe. Several downstream industries, businesses, and other facilities were severely affected in the first half of 2020 due to the nationwide lockdowns imposed by the government authorities. Amidst the looming concern, the demand for Toluene was severely hindered around the world, followed by the disrupted supply chain. The market growth post-pandemic demonstrated an upward trajectory due to the increased demand for Toluene from the paint and coatings industry. Regional Outlook: Among different regions, the Asia Pacific region dominated the Toluene market in 2021 with a share of 48.53% and is likely to maintain its dominance in the forecast period as well. The increasing production of Toluene in China due to its high demand in automotive, paints and coatings, and other downstream industries is driving the Toluene market across the Asia Pacific region. Followed by the APAC region, North America holds the second-largest share of Toluene in terms of demand. Major Players: • • • • • • • • • • • • • • • •
Exxon Mobil Corporation (USA) SK Global Corporation Limited (South Korea) Zhenhai Refining and Chemical Company (China) Marathon Petroleum Corporation (USA) PetroChina Company Ltd. Flint Hills Resources LLC (USA) Sinopec Shanghai Petrochemical Co. Ltd. (China) Formosa Chemical & Fibre Corporation (Taiwan) Cepsa (Spain) CNOOC Limited (China) Hengli Petrochemical (Dalian Complex) Co. Ltd. (China) LyondellBasell Industries N.V. (USA) SINOPEC Jinling Petrochemical Co. (China) Cenovus Energy Inc (USA) BASF Total Petrochemicals LLC (USA) Dow Chemical Company Ltd. (Germany) and Others.
Years considered for this report: Historical Period: 2015-2020 Base Year: 2021 Estimated Year: 2022 Forecast Period: 2023–2035 Objective of the Study: •
To assess the demand-supply scenario of Toluene which covers production, demand, and supply of Toluene market globally.
• • • • •
To analyse and forecast the market size of Toluene. To classify and forecast Toluene market based on application, technology, end-use and regional distribution. To identify drivers and challenges for Toluene market. To examine competitive developments such as expansions, new product launches, mergers & acquisitions, etc., in Toluene market. To identify and analyse the profile of leading players involved in the manufacturing of Toluene.
Report Scope: In this report, Toluene market has been segmented into following categories, in addition to the industry trends which have also been detailed below:
Attribute
Details
Market size volume in 2022
25.9 million tonnes
Growth Rate
CAGR of 5.15% from 2022 to 2035
Base year for estimation
2021
Historic Data
2015 – 2020
Forecast period
2023 – 2035
Quantitative units
Demand in Million Tonnes and CAGR from 2022 to 2035
Report coverage
Revenue forecast, demand & supply, competitive analysis, competitive landscape, growth factors, and trends
Segments covered
1. Derivatives Type (Benzene and Xylene, Solvents, Gasoline Additives, Toluene Diisocyanate, and others (TNT, Benzoic acid, Benzaldehyde) 2. End-Use (Building and Construction, Automotive, Oil and Gas, Paints and Coatings, Pharmaceuticals, and Others) 3. Sales Channel (Direct Company Sale, Direct Import, Distributors & Traders) 4. Process & Technology
Regional scope
North America; Europe; Asia Pacific; South America; Middle East & Africa
Country scope
United States; Mexico; Canada; China; India; Japan; South Korea; Taiwan; Singapore; Germany; Belgium; France; United Kingdom; Spain; Italy; Sweden; Austria; Saudi Arabia; Iran; South Africa; Brazil; Argentina
Key companies profiled
Exxon Mobil Corporation (USA), SK Global Corporation Limited (South Korea), Zhenhai Refining and Chemical Company (China), Marathon Petroleum Corporation (USA), PetroChina Company Ltd., Flint Hills Resources LLC (USA), Sinopec Shanghai Petrochemical Co. Ltd. (China), Formosa Chemical & Fibre Corporation (Taiwan), Cepsa (Spain), CNOOC Limited (China), Hengli Petrochemical (Dalian Complex) Co. Ltd. (China), LyondellBasell Industries N.V. (USA), SINOPEC Jinling Petrochemical Co. (China), Cenovus Energy Inc (USA), BASF Total Petrochemicals LLC (USA), Dow Chemical Company Ltd. (Germany) and Others
Customization scope
Free report customization with purchase. Addition or alteration to country, regional & segment scope.
Pricing and purchase options
Avail customized purchase options to meet your exact research needs. Explore purchase options
Table of Contents: 1. Global Toluene Market Outlook, 2015-2035 1.1. Capacity, By Volume 1.1.1.By Company 1.2. Production, By Volume 1.2.1.By Company 1.3. Operating Efficiency 1.3.1.By Company 2. Global Toluene Demand Outlook, 2015-2035, By Volume 2.1. By Technology 2.2. By End-Use 2.3. By Region 2.4. By Company 3. North America Toluene Market Outlook, 2015-2035 3.1. Capacity, By Volume 3.1.1.By Country 3.2. Production 3.2.1.By Country 3.3. Operating Efficiency 3.3.1.By Country 4. North America Toluene Demand Outlook, 2015-2035, By Volume 4.1. By Technology 4.2. By End-Use 4.3. By Country View Full TOC @ https://www.chemanalyst.com/industry-report/toluene-market-665 About ChemAnalyst ChemAnalyst is a subsidiary of Techsci Research, which was established in 2008, and has been providing exceptional management consulting to its clients across the globe for over a decade now. For the past four years, ChemAnalyst has been a prominent provider of Chemical commodity prices in more than 15 countries. We are a team of more than 100 Chemical Analysts who are committed to provide in-depth market insights and real-time price movement for 300+ chemical and petrochemical products. ChemAnalyst has reverberated as a preferred pricing supplier among Procurement managers and Strategy professionals worldwide. On our platform, we provide an algorithm-based subscription where users can track and compare years of historical data and prices based on grades and incoterms (CIF, CFR, FOB, & EX-Works) in just one go. The ChemAnalyst team also assists clients with Market Analysis for over 1200 chemicals including assessing demand & supply gaps, locating verified suppliers, choosing whether to trade or manufacture, developing Procurement Strategies, monitoring imports and exports of Chemicals, and much more. The users will not only be able to analyze historical data for past years but will also get to inspect detailed forecasts for the upcoming years. With access to local field teams, the company provides high-quality, reliable market analysis data for more than 40 countries.
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