Global Aromatic Solvents
Market Report
2025
Aromatic Solvents market size will be USD 8.98 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 2.92% from 2024 to 2031.
The base year for the calculation is 2024 and 2021 to 2024 will be historical period. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global Aromatic Solvents market size will be USD 8.98 billion in 2024 and will expand at a compound annual growth rate (CAGR) of 2.92% from 2024 to 2031.
2019 | 2024 | 2025 | 2032 | 2033 | CAGR | |
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Global Aromatic Solvents Market Sales Revenue | 121212 | $ 8.98 Billion | 121212 | 121212 | 121212 | 2.92% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Product |
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Market Split by Application |
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Market Split by End Use |
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List of Competitors |
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Regional Analysis |
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Country Analysis |
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Aromatic Solvents Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The aromatic solvents market encompasses a segment of the oil refining industry. These solvents are mostly employed in several business sectors as a carrier fluid. Strong solvents for organic fluids are aromatic solvents. They are widely employed in many different industries, including paints, petrochemicals, cleansers, glues, colors, and coatings. Especially in the painting and coating sector, it is used extensively as lacquers or as thinner due to its higher durability than other solvents. Benzene, toluene, and xylene make up the majority of aromatic solvents.
Rise in Demand from Different Industrial Verticals like the Oil & Gas Industry to Increase the Demand worldwide. The oil and gas industry is increasingly in need of aromatic solvents due to their durability against corrosion. Additionally, solvents like xylene are widely used in the manufacturing of active pharmaceutical components and for disinfecting medicinal products and equipment. The chemical industry uses an aromatic solvent extensively for manufacturing, composition, processing, and reactive media. Consistent growth in the worldwide chemical sector is being fuelled by urbanization, industrialization, and population increase.
The Expanding pain and coating sector leads to a rise in the growth of aromatic solvents, which are essential components in formulizing paints.
The availability of non-aromatic and bio-based solvents as an alternative to traditional solvents hampers sales.
Governmental laws and regulations incorporate green solvents to reduce the impact on the environment, hampering the growth of aromatic solvents.
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Under Honeywell International, Hengyi Industries supplied state-of-the-art aromatics that had been developed through Honeywell in Brunei in February 2021. Approximately 200,000 barrels can be handled daily by the manufacturing facility. Businesses are being forced to make significant investments in cutting-edge technology that converts crude oil into petrochemicals due to the rising need for paraxylene in the APAC region.
(Source: https://uop.honeywell.com/en/news-events/2021/february/hengyi-industries-selects-honeywell-technology-for-brunei-petrochemical-complex)
Top Companies Market Share in Aromatic Solvents Industry: (In no particular order of Rank)
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Asia Pacific dominated the aromatic solvent market in 2022. End users like automotive, pesticides, paints and coatings, textiles, pharmaceuticals, and chemical intermediates are more in the Asia-Pacific. The demand for aromatic solvents by the automotive and paints and coatings industry is more which is the major factor for the market growth in this region. Also, technological advancement and R&D in aromatic solvents are boosting the aromatic solvent market in this region.
The North American region is predicted to address speedy growth in the forecast period. By volume, this region is the secondary manufacturer of automobiles and has the biggest pigment and paint industries. Due to these reasons, the demand for aromatic solvents in this region is expected to enlarge in the upcoming years.
The current report Scope analyzes Aromatic Solvents Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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Global Aromatic Solvents Market Report 2024 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Aromatic Solvents Industry growth. Aromatic Solvents market has been segmented with the help of its Product, Application End Use, and others. Aromatic Solvents market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
According to Cognitive Market Research, Toluene solvent Type dominates the segment. It is anticipated that toluene solvents will become more widely used in a variety of applications, including coatings and paints, inks for printing, bonds, extraction, and cleansing, due to their strong solvent strength and minimal toxicity.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Aromatic Solvents Industry. Request a Free Sample PDF!
Chemical and materials are one of the most important industries for other sectors including automotive, pharmaceutical, personal care, consumer goods and others. The demand for high quality and environment friendly products is increasing in various end-use sectors. Thus, key manufacturers are focusing on technological advancement in production of high-quality chemicals. The segment analysis will help to understand which is the most attractive application/end use sector. It also provides the year on year (Y-O-Y) growth rate for each segment. Moreover, this study includes the detailed analysis of each segment to understand the key positive and negative factors which are impacting the growth of the Aromatic Solvents Market.
Some of the key Application of Aromatic Solvents are:
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Senior Research Analyst at Cognitive Market Research
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Manoj Phagare is a dynamic and results-driven research analyst with a passion for transforming raw data into actionable insights. Armed with a solid foundation in market research and data analysis and working in various domains including chemical & materials and paints & coatings. He thrive on the challenge of uncovering patterns, trends, and opportunities that drive strategic decision-making.His analytical mindset, coupled with effective communication skills, allows him to bridge the gap between data analysis and practical business applications.
In his current role, Manoj is a key player in market research and competitive analysis. He have a proven track record of synthesizing disparate data sources, employing statistical models, and delivering comprehensive insights. He have played a pivotal role in shaping evidence-based strategies that fueled the success of key business initiatives and Collaborating with cross-functional teams.Manoj remains an invaluable asset in the dynamic landscape of market research.
Our study will explain complete manufacturing process along with major raw materials required to manufacture end-product. This report helps to make effective decisions determining product position and will assist you to understand opportunities and threats around the globe.
The Global Aromatic Solvents Market is witnessing significant growth in the near future.
In 2023, the Toluene segment accounted for noticeable share of global Aromatic Solvents Market and is projected to experience significant growth in the near future.
The Adhesives segment is expected to expand at the significant CAGR retaining position throughout the forecast period.
Some of the key companies Exxon Mobil Corporation , SK Global Chemical Co. and others are focusing on its strategy building model to strengthen its product portfolio and expand its business in the global market.
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Product | Toluene, Xylene, Solvent Naphtha, Benzene |
Application | Adhesives, Paints and Coatings, Cleaning and Degreasing, Printing Inks, Others |
End Use | Automotive industry, Pesticides industry, Paints and Coatings industry, Cleaners industry, Textiles industry, Pharmaceuticals industry, Chemical Intermediates industry, Others |
List of Competitors | Exxon Mobil Corporation, China Petroleum & Chemical Corporation, SK Global Chemical Co., Ltd., BASF SE, Royal Dutch Shell PLC, LyondellBasell Industries Holdings B.V., Reliance Industries Limited (RIL), China National Petroleum Corporation (CNPC), Chinese Petroleum Corporation (CPC), Total S.A. |
This chapter will help you gain GLOBAL Market Analysis of Aromatic Solvents. Further deep in this chapter, you will be able to review Global Aromatic Solvents Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Aromatic Solvents. Further deep in this chapter, you will be able to review North America Aromatic Solvents Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Aromatic Solvents. Further deep in this chapter, you will be able to review Europe Aromatic Solvents Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Aromatic Solvents. Further deep in this chapter, you will be able to review Asia Pacific Aromatic Solvents Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Aromatic Solvents. Further deep in this chapter, you will be able to review South America Aromatic Solvents Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Aromatic Solvents. Further deep in this chapter, you will be able to review Middle East and Africa Aromatic Solvents Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
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Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Aromatic Solvents. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Product Analysis 2019 -2031, will provide market size split by Product. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Product Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by End Use Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Aromatic Solvents market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Toluene have a significant impact on Aromatic Solvents market? |
What are the key factors affecting the Toluene and Xylene of Aromatic Solvents Market? |
What is the CAGR/Growth Rate of Adhesives during the forecast period? |
By type, which segment accounted for largest share of the global Aromatic Solvents Market? |
Which region is expected to dominate the global Aromatic Solvents Market within the forecast period? |
Segmentation Level Customization |
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Global level Data Customization |
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Region level Data Customization |
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Country level Data Customization |
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Company Level |
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Additional Data Analysis |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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