Aromatic Solvents Market 2024 Opportunity, Challenge, Drivers, Restraint, Trend, Demand and Global Business Growth by 2031 | Royal Dutch Shell Plc, SK Chemical Co., Ltd, Exxon Mobil Corporation.

The Aromatic Solvents Market is anticipated to reach USD 6.2 billion by 2031 from USD 5.1 billion in 2022, at a CAGR of 2.4% during the forecast period.

DataM Intelligence has published a new research report on "Aromatic Solvents Market Size 2024". The report explores comprehensive and insightful Information about various key factors like Segmentation, CAGR, business revenue competitive positioning of key companies, investigating elements such as product offerings, pricing strategies, financial performance, product portfolios, growth initiatives, and geographical reach. The purpose of this report is to provide a telescopic view of the current market size by value and volume, opportunities, and development status.

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The Aromatic Solvents Market refers to the industry involved in the production, distribution, and sale of organic chemicals characterized by aromatic hydrocarbons, primarily derived from petroleum or coal tar. These solvents are widely used in various industries, including paints and coatings, adhesives, chemicals, inks, cleaning products, and industrial applications, due to their ability to dissolve other substances efficiently and evaporate quickly. Common aromatic solvents include toluene, xylene, and ethylbenzene. Their unique chemical properties make them integral to industrial processes, especially where enhanced solvency and stability are required.

Key Developments:

On April 25, 2022, Solvay introduced Rhodiasolv IRIS, a new-generation solvent that stands out for its eco-friendly characteristics. Originally produced in China, Solvay plans to begin its production in 2023 at its facility in Melle, France, further reinforcing the company's commitment to sustainability and innovation.

Back on February 25, 2021, Hengyi Industries adopted cutting-edge reforming and aromatics technology from Honeywell UOP at its integrated petrochemical plant in Pulau Muara Besar, Brunei. This facility is set to process an impressive 200,000 barrels per day. The growing demand for paraxylene in Asia is driving more companies to invest in advanced petrochemical conversion technologies.

In a notable event on March 6, 2019, Fortrec, a Singapore-based company, completed the acquisition of a refinery in Ulsan, Korea, dedicated to producing aromatic solvents. After acquiring the facility in just nine months, Fortrec restarted operations, with the factory now producing solvents like FSol100, FSol150, FSol200, and Washoil at a capacity of 60,000 tonnes annually.

Research Process:

Both primary and secondary data sources have been used in the global Aromatic Solvents Market research report. During the research process, a wide range of industry-affecting factors are examined, including governmental regulations, market conditions, competitive levels, historical data, market situation, technological advancements, upcoming developments, in related businesses, as well as market volatility, prospects, potential barriers, and challenges.

List of the Key Players in the Aromatic Solvents Market:

Royal Dutch Shell Plc, SK Chemical Co., Ltd, Exxon Mobil Corporation, Celanese Corporation, Eastman Chemical Company, LyondellBasell, Chevron Phillips Chemical Company, BASF SE, Total S.A. and Pon Pure Chemicals.

Segment Covered in the Aromatic Solvents Market:

By Type: Toluene Solvents, Xylene Solvents, Ethylbenzene Solvents.

By Application: Paints & Coatings, Printing Inks, Adhesives, Transportation, Cleaning & Degreasing.

Regional Analysis:

The global Aromatic Solvents Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa.

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Regional Analysis:

The global Aromatic Solvents Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa. The report offers detailed insight into new product launches, new technology evolutions, innovative services, and ongoing R&D. The report discusses a qualitative and quantitative market analysis, including PEST analysis, SWOT analysis, and Porter's five force analysis. The Aromatic Solvents Market report also provides fundamental details such as raw material sources, distribution networks, methodologies, production capacities, industry supply chain, and product specifications.

**The full version of the report includes an in-depth analysis of emerging players and startups, which will provide valuable insights into the evolving market landscape and key strategies being adopted**

Chapter Outline:

Chapter 1: Introduces the report scope of the report, executive summary of different market segments (by region, product type, application, etc), including the market size of each market segment, future development potential, and so on. It offers a high-level view of the current state of the market and its likely evolution in the short to mid-term, and long term.

Chapter 2: key insights, key emerging trends, etc.

Chapter 3: Manufacturers competitive analysis, detailed analysis of Aromatic Solvents manufacturers competitive landscape, revenue market share, latest development plan, merger, and acquisition information, etc.

Chapter 4: Provides profiles of key players, introducing the basic situation of the main companies in the market in detail, including product revenue, gross margin, product introduction, recent development, etc.

Chapter 5 & 6: Revenue of Aromatic Solvents in regional level and country level. It provides a quantitative analysis of the market size and development potential of each region and its main countries and introduces the market development, future development prospects, market space, and market size of each country in the world.

Chapter 7: Provides the analysis of various market segments by Type, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different market segments.

Chapter 8: Provides the analysis of various market segments by Application, covering the market size and development potential of each market segment, to help readers find the blue ocean market in different downstream markets.

Chapter 9: Analysis of industrial chain, including the upstream and downstream of the industry.

Chapter 10: The main points and conclusions of the report.

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Frequently Asked Questions

Q1) How Big is the Aromatic Solvents Market?

A) The global aromatic solvents market reached USD 5.1 billion in 2022 and is expected to reach USD 6.2 billion by 2031

Q2) Who are the key players of Aromatic Solvents Market?

A) key players are Royal Dutch Shell Plc, SK Chemical Co., Ltd, Exxon Mobil Corporation, Celanese Corporation, Eastman Chemical Company, LyondellBasell, Chevron Phillips Chemical Company, BASF SE, Total S.A. and Pon Pure Chemicals.

Q3) What are the regions covered in this report?

A) The global Aromatic Solvents Market report focuses on six major regions: North America, Latin America, Europe, Asia Pacific, the Middle East, and Africa

4) What are the Segments Coverd in this report?

A) The Aromatic Solvents market is segmented as

By Type: Toluene Solvents, Xylene Solvents, Ethylbenzene Solvents.

By Application: Paints & Coatings, Printing Inks, Adhesives, Transportation, Cleaning & Degreasing.

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