Oxygen Market Definition

Oxygen is a colorless non-metallic chemical element that is highly reactive in nature. Oxygen forms oxides with many compounds and other elements. It is widely used for industrial, medical, and scientific applications as an oxidizing agent or as a catalyst. Oxygen is available in cylinders, spray cans, containers, and other formats. The oxygen market consists of the sales of oxygen by entities (organizations, sole traders or partnerships) that manufacture oxygen in compressed, liquid and solid forms. Oxygen is used as medical oxygen for respiration, as industrial gas in different industries, and is also used in oxy-acetylene torches. Oxygen is generally produced by the air separation technique. Air and electric power are primary raw materials for producing oxygen. Air separation technologies are based on differences in boiling points, molecular weights, molecular size, and other properties. Air separation plants employ two basic types of process technology: cryogenic air separation plants and non-cryogenic separation plants.

Ethyl alcohol, also known as ethanol or grain alcohol, is a volatile, flammable, colorless liquid industrially used as a chemical intermediate to make pharmaceutical ingredients or as a solvent. Ethyl alcohol is used as a solvent in the synthesis of other organic chemicals, as an ingredient in alcoholic beverages and as a gasoline additive in the automotive industry. The main types of ethyl alcohol are synthetic and fermented. Ethyl alcohol fermentation is defined as the chemical process in which the yeast transforms glucose and fructose in a solution into ethanol, carbon dioxide, and heat. The various applications of ethyl alcohol include industrial solvent, fuel/fuel additive, bacteriacide/disinfectant, beverages, personal care, and other applications. The major end-use industries of ethyl alcohol are automotive, food and beverages, pharmaceutical, personal care, and other end users. The ethyl alcohol market research report is one of a series of new reports from The Business Research Company that provides ethyl alcohol market statistics, including ethyl alcohol industry global market size, regional shares, competitors with an ethyl alcohol market share, detailed ethyl alcohol market segments, market trends and opportunities, and any further data you may need to thrive in the ethyl alcohol industry. This ethyl alcohol market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global ethyl alcohol market size will grow from $526.75 billion in 2022 to $563.12 billion in 2023 at a compound annual growth rate (CAGR) of 6.9%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global ethyl alcohol market size is expected to grow from $721.58 billion in 2027 at a CAGR of 6.4%. Rising demand for ethanol in the food processing industry is contributing to the growth of the ethyl alcohol market. It is used as an intoxicating ingredient in manufacturing alcoholic and non-alcoholic beverages such as vodka and gin. Additionally, ethyl alcohol is also used as a natural product in non-alcoholic beverages as an adjunct. The food processing industry is growing significantly due to increased demand for ready-to-eat, frozen, and packaged foods. As a result, the demand from the food processing industry has also increased due to the growing population through new births and migrations, which further increases the industry's production and demand for ethanol. The demand for ethanol in the food processing industry will lead to the expansion of the global market for ethyl alcohol. For example, in India, the ethanol market is expected to grow to $7.38 billion by 2024 at a CAGR of 14.50% due to ethanol use in applications such as food and beverages. Rising demand for ethanol in the food processing industry is expected to boost the demand for ethyl alcohol during the forecast period, driving the market. The rise in awareness about the ill effects of alcohol consumption is expected to limit the growth of the ethyl alcohol market. According to a study by the World Health Organization (WHO), alcohol consumption is responsible for more than 200 diseases and injury conditions. It possesses a risk of health problems such as mental and behavioral disorders, diseases such as liver cirrhosis, cardiovascular diseases, and injuries from road accidents. With rising awareness of the effects of alcohol consumption on global health, the demand for information on consumption and its related harm and policies has risen significantly. For example, in 2020, according to the Journal of Studies, alcohol awareness in the Yukon increased to 42%, a 10% rise in awareness due to warning labels on alcohol bottles and drugs. This is bound to negatively impact the market. Companies are increasingly producing ethanol from corn and sugar in the ethyl alcohol market. Ethanol is produced from corn by the dry milling process. In this process, corn kernels are ground into flour or mash, which is then mixed with water. It is purified through distillation and dehydration to create ethanol. The rising demand for liquid fuels in the transportation industry, the global rising demand for oil, and the negative consequences of global warming have contributed to the increased use of corn-based sugar to produce ethanol, thereby reducing global warming gases. It can be used in many of today's passenger cars and trucks as a substitute for burning gasoline. The US Department of Agriculture (USDA) predicts that during the 2020–21 crop season, 5.2 billion hectares of corn will go to ethanol generation, an increase of 250 million hectares compared to the approximate amount of corn that moved to ethanol processing during the 2019–20 crop season. Additionally, the U.S. and Brazil produce 85% of the global ethanol from corn. Production of ethanol from corn helps in reducing greenhouse gases by 18%, and production of ethanol from sugar helps in reducing greenhouse gases by 90%. Production of ethanol from corn and sugar offers several advantages, such as reducing greenhouse gases and decreasing dependency on foreign oil. In October 2022, CIE, a US-based global provider of grain-based, high-quality, specialty alcohols acquired the assets of Elkhorn Valley Ethanol from Louis Dreyfus Company, a global agricultural commodities firm. The acquisition increases the capacity, expands the footprint, and increases the customer base of CIE with the addition of assets of Elkhorn Valley Ethanol. Elkhorn Valley Ethanol is an American producer of ethanol. Major players in the ethyl alcohol market are Advanced Bioenergy LLC., Andersons Ethanol Group, Archer Daniels Midland Company, Aventine Renewable Energy, Braskem, British Petroleum, Cargill Corporation, Green Plains Inc., Kirin Holding Company, and LyondellBasell Industries NV. Asia-Pacific was the largest region in the ethyl alcohol market in 2022. North America was the second largest market in the global ethyl alcohol market. The regions covered in the global ethyl alcohol market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the ethyl alcohol market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The ethyl alcohol market consists of the sales of ethyl alcohol used in products such as perfumes, aftershaves, beverages, liniments, colognes, medicinal liquids, mouthwashes, and rubbing alcohols. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global ethyl alcohol market is segmented - 1) By Type: Synthetic, Fermented 2) By Application: Industrial Solvent, Fuel/Fuel Additive, Bacteriacide/Disinfectant, Beverages, Personal Care, Other Applications 3) By End User Industry: Automotive, Food and Beverages, Pharmaceutical, Personal Care, Other End Use Industries

Reactive and other adhesives refer to adhesives that are generally made out of monomer (resin) and an initiator. The reactive and other adhesives require a chemical reaction to form an adhesive bond. The main types of reactive and other adhesives are epoxy, acrylic, silicone, polyurethane, and other types. The major types of additives are polyurethane, acrylic, silicone, vinyl, epoxides, and other additives that are used in building and construction, automotive and transportation, power, electrical and electronics, and other sectors. The reactive and other adhesives market research report is one of a series of new reports from The Business Research Company that provides reactive & other adhesives market statistics, including global market size, regional shares, competitors with a reactive & other adhesives market share, detailed reactive & other adhesives market segments, market trends and opportunities, and any further data you may need to thrive in the reactive & other adhesives industry. This reactive and other adhesives market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global reactive and other adhesives market size will grow from $10.76 billion in 2022 to $11.52 billion in 2023 at a compound annual growth rate (CAGR) of 7.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global reactive and other adhesives market size is expected to grow from $14.92 billion in 2027 at a CAGR of 6.7%. The adhesive market is expected to benefit from growth in the automobile industry during the forecast period. There is a drive for the production of lightweight automobiles, which is leading to an increase in demand for adhesives and sealants. These are used in place of welded joints, mechanical fasteners, and gaskets and help reduce the weight of the automobile. For instance, companies such as Jowat are using reactive adhesives for the perfect bonding of vehicle parts in the automotive industry. Thus, the increased use of plastics in automobiles is expected to increase the demand for reactive adhesives during the forecast period. Stringent safety regulations associated with the manufacturing and transportation of adhesive chemicals have been a major restraint on the market. These substances are highly flammable, toxic, and hazardous when exposed to extreme temperatures and pressures. Companies in this industry should invest in equipment, technologies, and processes to limit toxic levels and chemical concentrations. These regulations increased the operating costs of companies in this industry, thus limiting the scope for investments relating to the launch of new products and expansion into new markets, thereby affecting market growth. Many adhesive companies are adopting IoT (Internet of Things) technologies to connect equipment and smart devices to garner real-time insights and locate gaps in the manufacturing process. The data obtained is processed, analyzed, and interpreted by plant managers and senior-level management to improve quality and achieve optimum production levels. For example, smart systems give information on the working condition and performance of chemical reactors with embedded software and analytics tools to notify plant operators and managers of possible machine breakdowns. For instance, some of the major companies adopting IoT include BASF SE, The Dow Chemical Company, and H.B. Fuller. In November 2020, Pidilite Industries, an Indian adhesives manufacturing company, acquired Huntsman Corporation for $28.55 billion. Through this acquisition, Araldite will add to the already very strong portfolio of Pidilite Industries adhesives and sealants and will complement Pidilite Industries' retail portfolio. Huntsman Corporation is an American manufacturer and marketer of chemical products for consumers and industrial customers. Major players in the reactive and other adhesives market are BASF SE, 3M, ADCO Global, Adhesives Research, American Biltrite, Avery Dennison, Chemence, Collano Adhesives, Dow Chemical, and H.B. Fuller. Asia-Pacific was the largest region in the reactive and other adhesives market in 2022. North America was the second-largest region in the global reactive & other adhesives market. The regions covered in the global reactive & other adhesives market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the reactive and other adhesives market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, UK, USA, and Australia. The reactive and other adhesives market consists of the sales of anaerobic, and cyanoacrylates reactive and other adhesives in various forms such as liquids, pastes, tapes, films, and powders. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global reactive & other adhesives market is segmented - 1) By Type: Epoxy, Acylic, Silicone, Polyurethane, Other Types 2) By Additive: Polyurethane, Acrylic, Silicone, Vinyl, Epoxides, Other Additives 3) By Application: Building & Construction, Automotive & Transportation, Power, Electrical & Electronics, Other Applications

The industrial gas refer to gaseous materials produced for use in industry such as industrial organic and inorganic gases in compressed, liquid, and solid forms. Industrial gases are also referred to as bulk gases or commodity gases. The main types of industrial gases are nitrogen, oxygen, carbon dioxide, hydrogen, and other types of industrial gases. Nitrogen is a nonmetallic chemical element that, under normal conditions, is a colorless, odorless, inert gas that makes up 78 percent of the Earth's atmosphere. It is primarily used in the industrial synthesis of ammonia, as a component of inert atmospheres, and as a refrigerant in liquid form. The modes of supply are bulk, packaging, and pipeline. The packaging includes cylinders, bottles, canisters, cartridges, cryogenic tanks/vessels, and other packaging. The end-user industries involved are chemicals, metallurgy, manufacturing, food and beverages, healthcare, and other end-user industries. The industrial gas market research report is one of a series of new reports from The Business Research Company that provides industrial gas market statistics, including industrial gas industry global market size, regional shares, competitors with an industrial gas market share, detailed industrial gas market segments, market trends and opportunities, and any further data you may need to thrive in the industrial gas industry. This industrial gas market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global industrial gas market grew from $128.62 billion in 2022 to $146.08 billion in 2023 at a compound annual growth rate (CAGR) of 13.6%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The industrial gas market is expected to grow to $238.77 billion in 2027 at a CAGR of 13.1%. New developments are taking place in healthcare with an increasing emphasis on a healthier and generally better quality of life. In addition to oxygen, nitrous oxide, nitric oxide, and other industrial gases like hydrogen, helium, and xenon are all being prepared for use in pharmaceutical-based products. Treatments and drug developments using induced pluripotent stem cells (IPS) are bringing a new added value to the industry through the application of systems using gases such as carbon dioxide and liquid nitrogen, which are indispensable for the cultivation and preservation of cells and tissues, driving demand for high-grade industrial gases. Interest rates globally are forecasted to rise in most of the developing and developed economies during the forecast period. This is expected to limit new investments in the market. Most countries across the world are raising interest rates to control inflation and also to limit the flow of capital out of the country. This is likely to affect new investments in terms of expansion, research, and development of new products. For instance, the US interest rates are expected to rise up to 3.5% by 2021. These factors are expected to have a negative impact on the market as borrowing money becomes expensive, thereby affecting the market's growth. Industrial gas companies are increasingly supplying carbon dioxide emitted from industrial facilities to greenhouses. CO2 emitted from power plants and refineries is stored in local capacities and empty natural gas fields and transported to greenhouses via pipelines. This process acts as an intelligent CO2 recycling solution and reduces the carbon footprint of greenhouses. Linde, for example, collects carbon dioxide from the Shell oil refinery near Rotterdam, Netherlands, and distributes it to over 580 greenhouses in Rotterdam and Amsterdam. This saves the combustion of 115 million cubic meters of natural gas and avoids emissions of 205,000 tons per year of CO2. Major companies in the industrial gas market include The Linde Group, Air Liquide, SIG Gases Berhad, Air Products and Chemicals Inc., Mitsubishi Chemical Holdings Corp, Air Water Inc., Taiyo Nippon Sanso Corporation, Messer Group GmbH, Iwatani Corporation, and Arkema SA. Asia-Pacific was the largest region in the industrial gas market in 2022. North America was the second-largest region in the industrial gas market. The regions covered in the industrial gas market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the industrial gas market are Argentina, Australia, Austria, Bangladesh, Belgium, Brazil, Canada, Chile, China, Colombia, Czech Republic, Denmark, Egypt, Finland, France, Germany, Hong Kong, India, Indonesia, Ireland, Israel, Italy, Iran, Japan, Malaysia, Mexico, Netherlands, New Zealand, Nigeria, Norway, Peru, Philippines, Poland, Portugal, Romania, Russia, Saudi Arabia, Singapore, South Africa, South Korea, Spain, Sweden, Switzerland, Thailand, Turkey, UAE, UK, Ukraine, USA, and Vietnam. The industrial gas market consists of the sales of argon, ozone, neon, helium, krypton, methane, and nitrous oxide industrial gases. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global industrial gas market is segmented - 1) By Type: Nitrogen, Oxygen, Carbon Dioxide, Hydrogen, Other Industrial Gas 2) By Mode of Supply: Bulk, Packaging, Pipe Line 3) By Packaging: Cylinders, Bottles, Canisters, Cartridges, Cryogenic Tanks/Vessels, Other Packagings 4) By End Userr Industry: Chemicals, Metallurgy, Manufacturing, Food & Beverage, Healthcare, Other End-User Industries

The disinfectant is a chemical solution that kills microorganisms and prevents infectious diseases. A disinfectant is used to kill all recognized pathogenic microorganisms on inanimate objects such as floors, tiles, washrooms, furniture, and instruments. The main types of disinfectants are quaternary ammonium compounds, peracetic acid, chlorine compounds, hydrogen peroxide, alcohols, aldehyde products, and other products. Hydrogen peroxide is defined as an unstable, oily, colorless liquid that is used as a bleaching agent or an antiseptic. It also occurs naturally in the air in small amounts. The major forms of disinfectant are liquids and sprays. The various end-user industries for disinfectants include hospitals, clinics, domestic users, and other end-users. The disinfectant market research report is one of a series of new reports from The Business Research Company that provides disinfectant market statistics, including disinfectant industry global market size, regional shares, competitors with a disinfectant market share, detailed disinfectant market segments, market trends and opportunities, and any further data you may need to thrive in the disinfectant industry. This disinfectant market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global disinfectants market size will grow from $6.16 billion in 2022 to $6.8 billion in 2023 at a compound annual growth rate (CAGR) of 10.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global disinfectants market size is expected to grow from $10.63 billion in 2027 at a CAGR of 11.8%. The rising occurrence of hospital-acquired infections increased spending on disinfectant solutions globally, and this factor contributed to the global disinfectant market's growth. Patients sometimes get cured in hospitals but get infected by other diseases in hospitals themselves. This is called hospital-acquired infections (HAI). According to the World Health Organization (WHO), in Europe, nearly 41.31 million patients are infected by approximately 45.441 million episodes of healthcare-associated infections every year. The increase in safety towards patients in hospitals has boosted the spending on disinfecting solutions, which has resulted in the growth of the disinfectant market. A saturated market in developed economies is expected to limit the growth of the disinfectant market. In recent years, developed countries are using the same quantity of disinfectant solutions as in previous years. Due to stabilized consumption, the growth rate in developed markets is expected to decline when compared to the growth of disinfectants in the emerging market. Inadequate change in the market hampers the disinfectant market. Disinfectant service providers are using drones to spray the disinfectant solutions without using humans to reduce the spread of infection from the contaminated area. In China, several drone manufacturers have modified their agricultural drone models, which were originally intended to spray crops with pesticides, to spray disinfectants. Large areas can be disinfected with ease and effectiveness. In August 2021, MicroCare LLC., a US-based chemical manufacturer acquired Certol International for an undisclosed sum. The acquisition expands the product line of MicroCare and enables it to offer a complete range of critical cleaning options to its customers. Certol International is an American manufacturer of specialty cleaning and disinfecting products. Major players in the disinfectants market are 3M Company, Johnson & Johnson, Reckitt Benckiser Group PLC., Bio-Cide International Inc., Cardinal Health, Steris Corporation, Procter & Gamble, Kimberly-Clark Corporation, Novartis AG, and American Biotech Labs. Asia-Pacific was the largest region in the disinfectants market in 2022. Western Europe was the second-largest region in the global disinfectants market. The regions covered in the global disinfectants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the disinfectants market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The disinfectant market consists of the sales of formaldehyde, glutaraldehyde, iodophors, and ortho-phthalaldehyde (OPA) disinfectants. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global disinfectants market is segmented - 1) By Type: Quaternary Ammonium Compounds, Peracetic acid, Chlorine Compounds, Hydrogen Peroxide, Alcohols & Aldehyde Products, Other Types 2) By Form: Liquid, Sprays 3) By End User: Hospitals, Clinics, Domestic Users, Other End Users

Toluene is a colorless flammable liquid obtained from coal tar or petroleum. 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. The main types of toluene are benzene and xylene, solvents, gasoline additives, TDI (toluene diisocyanate), trinitrotoluene, benzoic acid, and benzaldehyde. Benzoic acid is a white crystalline acid C6H5COOH that can be found naturally or synthesized. It is primarily used as a food preservative, an antifungal agent in pharmaceuticals, and in organic synthesis. The production processes are the reformation process, pig’s process, coke/coal process, and styrene process. The various applications are drugs, dyes, blending, cosmetic nail products, and other applications (TNT, pesticides, and fertilizers). The end-use industries are building and construction; automotive; oil and gas; and consumer appliances. The toluene market research report is one of a series of new reports from The Business Research Company that provides toluene market statistics, including toluene industry global market size, regional shares, competitors with a toluene market share, detailed toluene market segments, market trends and opportunities, and any further data you may need to thrive in the toluene industry. This toluene market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global toluene market size will grow from $29.24 billion in 2022 to $29.89 billion in 2023 at a compound annual growth rate (CAGR) of 2.2%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global toluene market size is expected to grow from $32.81 billion in 2027 at a CAGR of 2.4%. The emerging demand for aromatics in the petrochemical industry has 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, solvent, and fuel additive in the chemical industry. To cater to the growing demand, companies are investing in expanding their production capacity. For instance, in June 2020, Ineos, a UK-based chemicals company bought chemical unit (aromatics and acetyls business) of BP PLC., a UK-based oil and gas company for $5 billion along with its BP's Cooper River petrochemical plant in South Carolina among other facilities. This will enhance the production capacity of aromatics to cater to the market demand. Therefore, the growing demand for aromatics in end-use industries is driving the toluene market. Fluctuations in crude oil prices have always been a major challenge in the toluene market as selected fractions of petroleum are used as raw materials for producing toluene. Toluene prices are constantly changing owing to factors such as instability in the prices of crude oil and variations in demand and supply. For instance, according to the annual energy outlook 2021 report by the US Energy Information Administration, a principal agency responsible for collecting, analyzing, and disseminating energy information, the average Brent crude prices are expected to be at $61/bbl (barrel) in 2025, and $73/bbl in 2030. This rise will increase the operating expenses and thereby impact the growth of the toluene market. Toluene di-isocyanate is increasingly being used as a raw material in the manufacturing of flexible foam applications. Toluene di-isocyanate (TDI) is a chemical used in polyurethane production, especially in flexible foam applications such as furniture and 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 the UK furniture manufacturing industry. Increasing the use of toluene di-isocyanate will contribute to the growth of the market. In August 2021, LANXESS, a German specialty chemicals company acquired Emerald Kalama Chemical for $1.04 billion. The acquisition will boost the growth of LANXESS and strengthens its position in the market. Emerald Kalama Chemical is a US-based chemicals company that also processes toluene into chemicals for food, flavor, fragrance, and pharmaceutical industries. Major players in 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. Asia-Pacific was the largest region in the toluene market in 2022. Middle East was the second-largest region in the global toluene market. The regions covered in the global toluene market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the toluene market are Brazil, China, France, Germany, India, Indonesia, Japan, South Korea, Russia, the UK, the USA, and Australia. The toluene market consists of the sales of toluene used for glues, paints, paint thinners, printing ink, rubber, leather tanners, and silicone sealants. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global toluene market is segmented - 1) By Type: Benzene and Xylene, Solvents, Gasoline Additives, TDI (Toluene diisocyanate), Trinitrotoluene, Benzoic acid, Benzaldehyde 2) By Production Process: Reformation Process, Pigs Process, Coke/Coal Process, Styrene Process 3) By Application: Drugs, Dyes, Blending, Cosmetic Nail Products, Other Applications (TNT, Pesticides, and Fertilizers) 4) By End User Industry: Building and Construction, Automotive, Oil and Gas, Consumer Appliances

A desiccant is a hygroscopic substance that absorbs moisture from the environment and protects products from moisture damage. The desiccants are generally used to keep items dry and stable. The main types of desiccants are silica gel, zeolite, activated alumina, activated charcoal, calcium chloride, clay, and other types. Silica gel is defined as a non-crystalline and highly porous form of silica that is used for removing moisture from liquids and gases. It is used as a drying agent that protects certain commercial and food products. The major processes of desiccants include physical adsorption and chemical absorption. The various applications of desiccants include electronics, food, pharmaceuticals, packing, air and gas drying, and other applications. The desiccants market research report is one of a series of new reports from The Business Research Company that provides desiccants market statistics, including desiccants industry global market size, regional shares, competitors with a desiccants market share, detailed desiccants market segments, market trends and opportunities, and any further data you may need to thrive in the desiccants industry. This desiccant market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry. The global desiccants market size will grow from $0.15 billion in 2022 to $0.16 billion in 2023 at a compound annual growth rate (CAGR) of 5.0%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The desiccants market is expected to grow from $0.2 billion in 2027 at a CAGR of 5.4%. Increasing demand for desiccants in the packaging industry combined with that in consumer products drives the growth of the desiccant market. Desiccant packets are tiny sachets that contain bentonite clay, silica gel, molecular sieve, or other absorbent products to protect goods from humidity, moisture, odors, and other damaging elements. High humidity and moisture in the air lead to product damage in consumer goods, medical devices, and pharmaceutical products. High-cost investment for setting up machinery is restraining the growth of the desiccant market. An increase in machinery setup costs increases the production cost of the desiccants. This may increase the end-user price. Hence, restricting the growth of the market. There is rising demand for desiccants in pharmaceuticals, chemicals, food, and beverages to control humidity in manufacturing and processing products. The rise in carbon percent and increased atmospheric temperature cause damage to products due to the high moisture content in the atmosphere. Various methods of dehumidification are used by these industries to avoid moisture content in their close vicinity. For example, desiccant wheels are the most effective and economical method used to control humidity levels for these industries. Desiccants are compounds or agents used to facilitate a low humidity environment by absorbing moisture content from the air during the storage or maintenance of materials and products. Desiccants are used in the pharmaceutical process chain. The correct selection and use of a desiccant can prevent chemical reactions and ensure the integrity and performance of finished products. For example, Pradaxa (dabigatran etexilate mesylate) is packaged in a bottle containing a 30-day supply with a desiccant (drying agent) in the cap to help keep moisture away from the capsules. In October 2022, Ingersoll Rand Inc., an American pumps and pumping equipment company agreed to acquire Air Treatment business of SPX Flow for $525 million. The acquisition expands the product offerings of Ingersoll Rand and enables future growth. Air Treatment business of SPX Flow provides desiccant and refrigerated dryers, filtration systems and purifiers. SPX Flow is a US-based provider of engineered flow components, process equipment, and turn-key systems. Major players in the desiccants market are Porocel, Dow Chemical, INEOS, Fuji Silysia Chemical, Hengye Molecular Sieve, Qingdao Makll, Zeotec Adsorbents Private Limited, and Desicca Chemicals. Asia-Pacific was the largest region in the desiccants market in 2022. North America was the second-largest region in the global desiccants market. The regions covered in the global desiccants market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. The countries covered in the desiccants market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA. The desiccant market consists of the sales of indicating silica gel, molecular sieves, calcium oxide and calcium sulfate, montmorillonite clay, and nitrogen desiccants. Values in this market are factory gate values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods. The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified). The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products. The global desiccants market is segmented - 1) By Type: Silica Gel, Zeolite, Activated Alumina, Activated Charcoal, Calcium Chloride, Clay, Other Types 2) By Process: Physical Absorption, Chemical Absorption 3) By Application: Electronics, Food, Pharmaceutical, Packing, Air & Gas Drying, Other Applications