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Toluene Market

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By Author: NileshMaximize
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Toluene Market was valued US$ 22 Bn in 2017 and is estimated to reach US$ 35 Bn by 2026 at a CAGR of about 6 % during a forecast.
Rapid use of toluene as solvent in paints & coatings, rising demand for efficient gasoline, increasing demand for chemical intermediates made from toluene such as benzene and xylene, increasing automobile production and sales along with rising consumption of lubricants is driving the growth of the market. Implementation of strict regulations by various government bodies has restricted the use of toxic organic chemicals used in the production of toluene solvent, which is predicted to restrain the growth of the market. Fluctuating crude oil prices, demand for other aromatic products and long term exposure to toluene has detrimental effect on central nervous system and can also harm the human brain these factor are restraining the market growth.

toluene market

Benzene & xylene, toluene diisocynates, benzaldehyde and other are major derivative of toluene. Among these benzene and xylene occupies maximum share followed by toluene diisocynates. Toluene diisocynates is projected to be fastest growing segment. Xylenes is used as solvents and antiknock agents in gasoline and as an intermediate in synthetic reactions. Benzene is used to make plastics, resins, synthetic fibers, rubber lubricants, dyes, detergents, drugs and pesticides. Toluene diisocyanate is a chemical used in the production of polyurethanes and for manufacture of coatings, sealants, adhesives and elastomers. Gasoline additives increase gasolines octane rating or act as corrosion inhibitors or lubricants.

Toluene is used as drug, solvent, blending agents and colorant. Toluene is used in paints, thinners, lacquers, glues, correction fluid, and nail polish remover. Toluene as a solvent dominates the market followed by blending agent segment. In leather industry toluene is used for tanning processes and printing processes. In biochemistry sector toluene is used to extract haemoglobin by breaking or disrupting red blood cells. Toluene used in explosives industry in the manufacture of flammable & explosive compounds, such as Trinitrotoluene. Types of additives include metal deactivators, corrosion inhibitors, oxygenates and antioxidants.

North America, Europe, Asia Pacific, Middle East & Africa and Latin America are regional segments of toluene market. Asia pacific is predicted to grow at higher CAGR owing to increased demand from gasoline additive industry. Maximum demand is led by china in Asia Pacific region. Asia Pacific market is followed by North America and Europe. China, U.S. and South Korea are major producer of toluene.

Key Players Profiled and Analised in the Report.
ExxonMobil Chemical, Sinopec, Shell, Reliance Industries, ConocoPhillips, Valero Energy, BASF, BP Chemicals, China National Petroleum and Mitsui Chemicals Koch Industries, JX Nippon Oil and Energy, Chevron Phillips, Nova Chemicals, Sherwin-Williams, Total Petrochemicals, Lyondell Basel, Covestro, and Formosa Plastics are
Scope of the Toluene Market Report

Toluene Market by Derivative Type:

• Benzene
• Xylene
• Toluene Diisocynates
• Benzaldehyde
• Others
Toluene Market by Application Type

• Explosive
• Dyes
• Blending Agent
• Additive
• Industrial Solvent
• Other
Toluene Market by Region:

• North America
• Europe
• Asia Pacific
• Middle East & Africa
• Latin America
Key Player Analysed In The Toluene Market:

• ExxonMobil Chemical
• Sinopec
• Shell
• Reliance Industries
• ConocoPhillips
• Valero Energy

About Company Info –
Maximize Market Research provides B2B and B2C research on 20,000 high growth emerging opportunities & technologies as well as threats to the companies across the Healthcare, Pharmaceuticals, Electronics & Communications, Internet of Things, Food and Beverages, Aerospace and Defense and other manufacturing sectors
Report Published by: Maximize Market Research

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