Toluene Global Market Sees Growth Rate Of 4% Through 2022

14 Oct, 2022

The global toluene market size is expected to grow from $26.35 billion in 2021 to $27.44 billion in 2022 at a compound annual growth rate (CAGR) of 4.10%. The global toluene market size is expected to grow to $31.92 billion in 2026 at a CAGR of 3.90%.

What is the Global Toluene Market?

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 colorless flammable liquid obtained from coal tar or petroleum.

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What drives the Global Toluene Market?

The emerging demand for aromatics in the petrochemical industry contributed to the growth of the toluene market. Aromatics are petroleum-derived forms of hydrocarbons, composed primarily of carbon and hydrogen elements. Toluene is a common aromatic, used as a chemical feedstock, solvents, and fuel additive in the chemical industry. To cater to the growing demand, companies are investing in expanding their production capacity.

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Global Toluene Market Segments
The global toluene market is 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 Application: Drugs, Dyes, Blending, Cosmetic Nail Products, Other Applications (TNT, Pesticides, and Fertilizers)
By End User Industry: Building and Construction, Automotive, Oil and Gas, Consumer Appliances
By Geography: The regions covered in the toluene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global toluene market.

Toluene Global Market Report 2022provides market size and growth forecasts for the global toluene market, global toluene market share, toluene market segments and geographies, toluene market competitive landscape including 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.

Global Toluene Industry Playersin the Toluene market are Exxon Mobil Corporation, Sinopec, Royal Dutch Shell PLC, Reliance Industries, BASF SE, Valero Energy, BP Chemicals, China National Petroleum, Mitsui Chemicals, Chevron Phillips, and Nova Chemicals. Based on industry trends and company analysis, the report explains a number of strategies for companies in the market.