Global Toluene Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends

The toluene market consists of sales of toluene and related services. It is used in aviation fuel and other high-octane fuels, dyestuffs and explosives. Toluene is also used as a solvent for gums and lacquers. Toluene is a colourless flammable liquid obtained from coal tar or petroleum.

Global Toluene Market Size And Drivers:

The global toluene market is expected to grow from $18.25 billion in 2020 to $18.45 billion in 2021 at a compound annual growth rate (CAGR) of 1.1%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $16.92 billion in 2025 at a CAGR of -2%. The emerging demand for aromatics in the petrochemical industry contributed to the growth of the toluene market.

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Trends In The Global Toluene Market

Toluene di-isocyanate is increasingly being used as raw materials in the manufacturing of flexible foam applications. Toluene di-isocyanate (TDI) is a chemical used in polyurethanes production, especially in flexible foam applications such as furniture, bedding and also in packaging applications. According to 'The Furnishing Report' in the UK, Toluene di-isocyanate is one of the main ingredients used in the manufacturing of flexible polyurethane foams, one of the key components used in UK furniture manufacturing industry. Increasing use of toluene di-isocyanate will contribute towards the growth of the market.

Global Toluene Market Segments:
The global toluene market is further segmented –
By Type: Benzene and Xylene, Solvents, Gasoline Additives, TDI (Toluene diisocyanate), Trinitrotoluene, Benzoic Acid, Benzaldehyde
By Production Process: Reformation Process, Pigs Process, Coke/Coal Process, Styrene Process
By End-Use Industry: Building And Construction, Automotive, Oil And Gas, Consumer Appliances
By Application: Drugs, Dyes, Blending, Cosmetic Nail Products, Others (TNT, Pesticides, and Fertilizers)
By Geography: The global toluene market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

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Toluene Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides toluene market overviews, analyzes and forecasts market size and growth for the global toluene market, toluene market share, toluene market players, toluene market segments and geographies, toluene market’s leading competitors’ revenues, profiles and market shares. The toluene market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.