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Published Date: 2015-06-01Number of Pages: 152

Aromatic Solvents (Benzene, Toluene, Xylene, and Others) Market for Pharmaceuticals, Oilfield Chemicals, Automotive, Paints & Coatings, and Other End-users - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023

Aromatic solvents are organic chemicals that are used to dissolve solid materials to form a homogenous solution. These solvents constitute a benzene ring structure and include toluene, xylene, benzene, and other heavy aromatics such as heavy naphtha. Aromatic solvents are manufactured in the petroleum refining industry from the distillation of petroleum stock and other chemical conversion processes such as catalytic hydrogenation and alkylation. These solvents are also obtained from light hydrocarbons such as ethane, butane, and propane. Catalytic reforming and steam cracking of straight chain alkanes is a widely accepted manufacturing process of aromatic solvents in the oil & gas industry. Aromatic solvents are largely used in the paints & coatings end-user industry to accelerate the drying process. Benzene, xylene, and toluene solvents are extensively used in paints, adhesives, and inks across the globe. Additionally, these aromatic solvents are employed in the manufacture of other intermediate chemicals such as cumene, ethyl benzene, phthalic anhydride, naphthalene, and maleic anhydride. 

Demand for aromatic solvents is largely driven by the paints & coatings industry. Aromatic solvents dissolve or disperse different components such as binders, additives, pigments, and extenders that are used in the formulation of paints & coatings. Furthermore, high solvency rates help form a better homogenous solution as compared to other solvents. Similarly, expansion in the automotive industry is anticipated to boost the demand for adhesives and sealants, which is one of the major applications of aromatic solvents. These solvents maintain an optimal evaporation rate of adhesives. This helps in optimal setting of adhesive polymer on the base surface. Factors such as stringent environmental regulations (due to VOC emission) and industrial shift toward non-aromatic and biobased solvents are likely to hamper the aromatic solvents market during the forecast period. 

In terms of volume, toluene segment accounted for more than 45% share of the global aromatic solvents market in 2014. Increase in applications in paints and coatings, adhesives, inks, pharmaceuticals, and other chemical formulations is estimated to drive the toluene segment in the aromatic solvents market from 2015 to 2023. Xylene is another important product segment of the global aromatic solvents market. It constitutes mixture of three isomers: ortho, meta, and para. These solvents are used in the synthesis of active pharmaceutical ingredients and to clean pharmaceutical equipment. Benzene solvents held a small share of the global aromatic solvents market in 2014. These solvents are primarily employed in the rubber industry due to their high solvency rate. Furthermore, benzene solvents are used in the artificial leather industry and glue manufacturing, rotogravure printing, and tin can assembly applications.

Pharmaceuticals, oilfield chemicals, automotive, paints & coatings, and others are major end-user industries in the global aromatic solvents market. Oilfield chemicals end-user segment accounted for above 5% share of the global aromatic solvents market in 2014. Aromatic solvents are used as corrosion inhibitors in oilfields to protect the inner surface of pipelines. Pharmaceuticals, another end-user segment, is likely to witness the slowest growth rate from 2015 to 2023. The others segment is projected to maintain average growth rate during the forecast period. Others end-user segment includes pesticides, textiles, cleaners, chemical intermediates, electronics, adhesive & sealants, perfumes, and cosmetics.

In terms of volume, Asia Pacific dominated the global aromatic solvents market with more than 50% share in 2014. High growth in the chemical industry is one of the major factors driving the market in Asia Pacific. Growth rate of aromatic solvents is estimated to decrease in North America and Europe due to the enactment of stringent regulations. Latin America is projected to witness moderate growth rate, as demand for aromatic solvents is expected to be significant in Brazil, Venezuela, and Argentina. Middle East and Africa (MEA) is anticipated to witness below average growth rate owing to the economic transition in the region; however, the region is anticipated to experience high growth potential in the near future.

The global aromatic solvents market is highly fragmented. Some manufacturers exhibit a high degree of integration in the first stage of the value chain. Key players in the aromatic solvents market include UOP LLC (Honeywell International, Inc.), Royal Dutch Shell plc, Exxon Mobil Corporation, Chevron Phillips Chemical Company, BASF SE, LyondellBasell Industries N.V., Celanese Corporation, and Eastman Chemical Company. 

 

aromatic-solvents-market

 

 

Chapter 1 Preface

1.1 Report Description

1.2 Market Segmentation

1.3 Research Scope and Assumptions

     1.3.1 Research Scope

     1.3.2 Assumptions

1.4 Research Methodology

 

Chapter 2 Executive Summary

2.1 Global Aromatic Solvents Market, 2014 – 2023 (Kilo Tons) (US$ Mn)

      2.1.1 Global Aromatic Solvents Market Snapshot, 2014 & 2023

 

Chapter 3 Aromatic Solvents Market – Industry Analysis

3.1 Introduction

3.2 Value Chain Analysis

3.3 Market Drivers

      3.3.1 High Demand for Aromatic Solvents in Paints & Coatings, and Ink Industry is Expected to Drive the Demand for Aromatic Solvents

              3.3.1.1 Standard Composition of Solvents in Alkyd and Acrylic Paints

      3.3.2 Proliferation of Automotive Industry Globally Would Boost the Demand for Adhesives And Sealants which is One of the Major Applications of Aromatic Solvents

              3.3.2.1 Global Adhesive and Sealants Market for Automotive Application, 2014 – 2023 (Kilo Tons)

      3.3.3 Robust Growth in the Oil and Gas Industry likely to Increase Demand for Aromatic Solvents

              3.3.3.1 Global Oil/Solvent-Based Corrosion Inhibitors Market, 2014 – 2023 (Kilo Tons)

3.4 Market Restraints

      3.4.1 Stringent Environmental Regulations Due to VOC Emissions from Aromatic Solvents is Likely to Hamper Market Growth

             3.4.1.1 Volatile Organic Compounds (VOCs) Content Limit in Paints and Coatings in North and South Asia Pacific in 2014

             3.4.1.2 VOCs Content Limit in Paints and Coatings in North Asia Pacific in 2014

             3.4.1.3 VOCs Content Limit in Paints and Coatings in South Asia Pacific in 2014

      3.4.2 Industrial Shift Towards Non-Aromatic, Bio-Based, and Water-Based Solvents Due to Toxicity Issue is Likely to Retard the Growth Of Aromatic Solvents

3.5 Market Opportunities

      3.5.1 Development of Light Aromatic Fluids is Expected to Reduce Potential Hazards of Aromatic Solvents

3.6 Porter’s Five Forces Analysis

      3.6.1 Bargaining Power of Suppliers

      3.6.2 Bargaining Power of Buyers

      3.6.3 Threat of New Entrants

      3.6.4 Threat of Substitutes

      3.6.5 Degree of Competition

3.7 Aromatic Solvents: Market Attractiveness Analysis, by End-User

      3.7.1 Aromatic Solvents: Market Attractiveness Analysis, by End-User

3.8 Aromatic Solvents Market: Company Market Share Analysis, 2014

 

Chapter 4 Aromatic Solvents Market – Raw Material and Price Trend Analysis

4.1 Global Aromatic Solvents Market: Technical Overview

4.2 Aromatic Solvents – Manufacturing Process

4.3 Raw Material Price Trend Analysis

      4.3.1 Global Naphtha Average Price Trends, US$/Ton, 2013 - 2023

4.4 Aromatic Solvents Price Trend Analysis

      4.4.1 Global Aromatic Solvents Average Price Trends, 2013 - 2023

 

Chapter 5 Aromatic Solvents Market – Product Segment Analysis

5.1 Global Aromatic Solvents Market: Product Segment Overview

      5.1.1 Global Aromatic Solvents Market Volume Share, By Product Segment, 2014 & 2023

5.2 Benzene

      5.2.1 Global Benzene Aromatic Solvents Market, 2014 - 2023 (Kilo Tons) (US$ Mn)

5.3 Toluene

      5.3.1 Global Toluene Aromatic Solvents Market, 2014 - 2023 (Kilo Tons) (US$ Mn)

5.4 Xylene

      5.4.1 Global Xylene Aromatic Solvents Market, 2014 - 2023 (Kilo Tons) (US$ Mn)

5.5 Others

      5.5.1 Global Other Aromatic Solvents Market, 2014 - 2023 (Kilo Tons) (US$ Mn)

 

Chapter 6 Aromatic Solvents Market – End-User Analysis

6.1 Global Aromatic Solvents Market : End-User Overview

      6.1.1 Global Aromatic Solvents Market  Volume Share, by End-User, 2014 & 2023

6.2 Pharmaceuticals

      6.2.1 Global Aromatic Solvents Market  for Pharmaceutical, 2014 - 2023 (Kilo Tons) (US$ Mn)

6.3 Oilfield Chemicals

      6.3.1 Global Aromatic Solvents Market for Oilfield Chemicals, 2014 - 2023 (Kilo Tons) (US$ Mn)

6.4 Automotive

      6.4.1 Global Aromatic Solvents Market  for Automotive, 2014 - 2023 (Kilo Tons) (US$ Mn)

6.5 Paints & Coatings

      6.5.1 Global Aromatic Solvents Market  for Paints & Coatings, 2014 - 2023 (Kilo Tons) (US$ Mn)

6.6 Others

      6.6.1 Global Aromatic Solvents Market  for Other End-User Industries, 2014 - 2023 (Kilo Tons) (US$ Mn)

 

Chapter 7 Aromatic Solvents Market – Regional Analysis

7.1 Global Aromatic Solvents Market: Regional Overview

      7.1.1 Global Aromatic Solvents Market Volume Share, By Region, 2014 & 2023

7.2 North America

      7.2.1 North America Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

      7.2.2 North America Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

      7.2.3 North America Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

      7.2.4 North America Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

      7.2.5 U.S.

             7.2.5.1 U.S. Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

             7.2.5.2 U.S. Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

             7.2.5.3 U.S. Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

             7.2.5.4 U.S. Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

      7.2.6 Rest of North America (RoNA)

              7.2.6.1 RoNA Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

              7.2.6.2 RoNA Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

              7.2.6.3 RoNA Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

              7.2.6.4 RoNA Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

7.3 Europe

      7.3.1 Europe Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

      7.3.2 Europe Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

      7.3.3 Europe Aromatic Solvents Market Volume, By End-users, 2014 –2023 (Kilo Tons)

      7.3.4 Europe Aromatic Solvents Market Revenue, By End-users, 2014 –2023 (US$ Mn)

      7.3.5 France

              7.3.5.1 France Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

             7.3.5.2 France  Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

            7.3.5.3 France  Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

            7.3.5.4 France  Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

      7.3.6 UK

              7.3.6.1 UK Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

             7.3.6.2 UK Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

             7.3.6.3 UK Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

             7.3.6.4 UK Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

      7.3.7 Spain

             7.3.7.1 Spain Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

             7.3.7.2 Spain Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

             7.3.7.3 Spain Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

             7.3.7.4 Spain Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

      7.3.8 Germany

             7.3.8.1 Germany Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

             7.3.8.2 Germany Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

            7.3.8.3 Germany Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

           7.3.8.4 Germany Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

      7.3.9 Italy

              7.3.9.1 Italy Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

              7.3.9.2 Italy Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

              7.3.9.3 Italy Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

              7.3.9.4 Italy Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

      7.3.10 Rest of Europe (RoE)

               7.3.10.1 RoE Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

              7.3.10.2 RoE Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

             7.3.10.3 RoE Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

             7.3.10.4 RoE Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

7.4 Asia Pacific

      7.4.1 Asia Pacific Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

      7.4.2 Asia Pacific Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

      7.4.3 Asia Pacific Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

      7.4.4 Asia Pacific Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

      7.4.5 China

               7.4.5.1 China Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

              7.4.5.2 China Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

             7.4.5.3 China Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

             7.4.5.4 China Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

      7.4.6 Japan

             7.4.6.1 Japan Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

             7.4.6.2 Japan Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

             7.4.6.3 Japan Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

             7.4.6.4 Japan Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

     7.4.7 ASEAN

             7.4.7.1 ASEAN Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

             7.4.7.2 ASEAN Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

             7.4.7.3 ASEAN Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

             7.4.7.4 ASEAN Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

     7.4.8 Rest of Asia Pacific

             7.4.8.1 Rest of Asia Pacific Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

             7.4.8.2 Rest of Asia Pacific Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

             7.4.8.3 Rest of Asia Pacific Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

             7.4.8.4 Rest of Asia Pacific Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

7.5 Latin America

     7.5.1 Latin America Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

     7.5.2 Latin America Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

     7.5.3 Latin America Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

     7.5.4 Latin America Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

     7.5.5 Brazil

             7.5.5.1 Brazil Aromatic Solvents Market Volume,  By Product Segment, 2014 – 2023 (Kilo Tons)

             7.5.5.2 Brazil Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

             7.5.5.3 Brazil Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

             7.5.5.4 Brazil Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

     7.5.6 Rest of Latin America

             7.5.6.1 Rest of Latin America Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

             7.5.6.2 Rest of Latin America Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

             7.5.6.3 Rest of Latin America Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

             7.5.6.4 Rest of Latin America Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

7.6 Middle East & Africa (MEA)

      7.6.1 MEA Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

      7.6.2 MEA Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

      7.6.3 MEA Aromatic Solvents Market Volume, By End-users, 2014 –2023 (Kilo Tons)

      7.6.4 MEA Aromatic Solvents Market Revenue, By End-users, 2014 –2023 (US$ Mn)

      7.6.5 GCC

              7.6.5.1 GCC Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

              7.6.5.2 GCC Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

              7.6.5.3 GCC Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

              7.6.5.4 GCC Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

      7.6.6 South Africa

              7.6.6.1 South Africa Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

              7.6.6.2 South Africa Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

              7.6.6.3 South Africa Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

              7.6.6.4 South Africa Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

      7.6.7 Rest of MEA

              7.6.7.1 Rest of MEA Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons)

              7.6.7.2 Rest of MEA Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)

              7.6.7.3 Rest of MEA Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons)

              7.6.7.4 Rest of MEA Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)

 

Chapter 8 Company Profiles

8.1 Ashland Inc.

8.2 BASF SE

8.3 Celanese Corporation

8.4 DEZA, a. s.

8.5 Eastman Chemical Company

8.6 Exxon Mobil Corporation (ExxonMobil)

8.7 Huntsman Corporation

8.8 INEOS AG

8.9 LyondellBasell Industries N.V.

8.10 Oil Refineries Ltd.

8.11 Petrochem Carless

8.12 Royal Dutch Shell plc

8.13 Honeywell UOP

 

Chapter 9 Primary Research – Key Findings

List of Figures 

 

FIG. 1 Global Aromatic Solvents Market Segmentation, by Product, End-user, and Geography 

FIG. 2 Global Aromatic Solvents Market, 2014 – 2023 (Kilo Tons) (US$ Mn) 

FIG. 3 Value Chain Analysis: Aromatic Solvents Market 

FIG. 4 Standard Composition of Solvents in Alkyd and Acrylic Paints 

FIG. 5 Global Adhesive and Sealants Market for Automotive Application, 2014 – 2023 (Kilo Tons) 

FIG. 6 Global Oil/Solvent-Based Corrosion Inhibitors Market, 2014 – 2023 (Kilo Tons) 

FIG. 7 Porter’s Five Forces Analysis: Aromatic Solvents Market 

FIG. 8 Aromatic Solvents: Market Attractiveness Analysis, by End-User 

FIG. 9 Aromatic Solvents Market: Company Market Share Analysis, 2014 

FIG. 10 Manufacturing Process of Aromatic Solvents 

FIG. 11 Global Naphtha Average Price Trends, US$/Ton, 2013 – 2023 

FIG. 12 Global Aromatic Solvents Average Price Trends, 2013 - 2023 

FIG. 13 Global Aromatic Solvents Market Volume Share, by Product Segment, 2014 & 2023  

FIG. 14 Global Benzene Aromatic Solvents Market, 2014 - 2023 (Kilo Tons) (US$ Mn) 

FIG. 15 Global Toluene Aromatic Solvents Market, 2014 - 2023 (Kilo Tons) (US$ Mn) 

FIG. 16 Global Xylene Aromatic Solvents Market, 2014 - 2023 (Kilo Tons) (US$ Mn) 

FIG. 17 Global Other Aromatic Solvents Market, 2014 - 2023 (Kilo Tons) (US$ Mn) 

FIG. 18 Global Aromatic Solvents Market  Volume Share, by End-User, 2014 & 2023 

FIG. 19 Global Aromatic Solvents Market  for Pharmaceutical, 2014 - 2023 (Kilo Tons) (US$ Mn) 

FIG. 20 Global Aromatic Solvents Market  for Oilfield Chemicals, 2014 - 2023 (Kilo Tons) (US$ Mn) 

FIG. 21 Global Aromatic Solvents Market  for Automotive, 2014 - 2023 (Kilo Tons) (US$ Mn)  

FIG. 22 Global Aromatic Solvents Market  for Paints & Coatings, 2014 - 2023 (Kilo Tons) (US$ Mn) 

FIG. 23 Global Aromatic Solvents Market  for Other End-User Industries , 2014 - 2023 (Kilo Tons) (US$ Mn) 

FIG. 24 Global Aromatic Solvents Market Volume Share, By Region, 2014 & 2023 

List of Tables

 

TABLE 1 Global Aromatic Solvents Market Snapshot, 2014 & 2023 

TABLE 2 Drivers for Aromatic Solvents Market - Impact Analysis 

TABLE 3 Restraints for Aromatic Solvents Market - Impact Analysis 

TABLE 4 VOCs Content Limit in Paints and Coatings in North Asia Pacific in 2014 

TABLE 5 VOCs Content Limit in Paints and Coatings in South Asia Pacific in 2014 

TABLE 6 North America Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons) 

TABLE 7 North America Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn) 

TABLE 8 North America Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 9 North America Aromatic Solvents Market Revenue, By End-users, 2014 –2023 (US$ Mn) 

TABLE 10 U.S.  Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons) 

TABLE 11 U.S.  Aromatic Solvents Market Revenue, By Product Segment, 2014 –2023 (US$ Mn)  

TABLE 12 U.S. Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 13 U.S.  Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn) 

TABLE 14 RoNA Aromatic Solvents Market Volume, By Product Segment, 2014 –2023 (Kilo Tons) 

TABLE 15 RoNA Aromatic Solvents Market Revenue, By Product Segment, 2014 –2023 (US$ Mn) 

TABLE 16 RoNA Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 17 RoNA Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn) 

TABLE 18 Europe Aromatic Solvents Market Volume, By Product Segment, 2014 –2023 (Kilo Tons) 

TABLE 19 Europe Aromatic Solvents Market Revenue, By Product Segment, 2014 –2023 (US$ Mn) 

TABLE 20 Europe Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 21 Europe Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn) 

TABLE 22 France  Aromatic Solvents Market Volume, By Product Segment, 2014 –2023 (Kilo Tons) 

TABLE 23 France  Aromatic Solvents Market Revenue, By Product Segment, 2014 –2023 (US$ Mn) 

TABLE 24 France  Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 25 France  Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)  

TABLE 26 UK Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons) 

TABLE 27 UK Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)  

TABLE 28 UK Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 29 UK Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn) 

TABLE 30 Spain Aromatic Solvents Market Volume, By Product Segment, 2014 –2023 (Kilo Tons) 

TABLE 31 Spain Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn) 

TABLE 32 Spain Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 33 Spain Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn) 

TABLE 34 Germany Aromatic Solvents Market Volume, By Product Segment, 2014 –2023 (Kilo Tons) 

TABLE 35 Germany Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn) 

TABLE 36 Germany Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 37 Germany Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)  

TABLE 38 Italy Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons) 

TABLE 39 Italy Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)  

TABLE 40 Italy Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 41 Italy Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn) 

TABLE 42 RoE Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons) 

TABLE 43 RoE Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn)  

TABLE 44 RoE Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 45 RoE Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn) 

TABLE 46 Asia Pacific Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons) 

TABLE 47 Asia Pacific Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn) 

TABLE 48 Asia Pacific Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 49 Asia Pacific Aromatic Solvents Market Revenue, By End-users, 2014 –2023 (US$ Mn)  

TABLE 50 China Aromatic Solvents Market Volume, By Product Segment, 2014 –2023 (Kilo Tons) 

TABLE 51 China Aromatic Solvents Market Revenue, By Product Segment, 2014 –2023 (US$ Mn)  

TABLE 52 China Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 53 China Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn) 

TABLE 54 Japan Aromatic Solvents Market Volume, By Product Segment, 2014 –2023 (Kilo Tons) 

TABLE 55 Japan Aromatic Solvents Market Revenue, By Product Segment, 2014 –2023 (US$ Mn) 

TABLE 56 Japan Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 57 Japan Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn) 

TABLE 58 ASEAN Aromatic Solvents Market Volume, By Product Segment, 2014 –2023 (Kilo Tons) 

TABLE 59 ASEAN Aromatic Solvents Market Revenue, By Product Segment, 2014 –2023 (US$ Mn) 

TABLE 60 ASEAN Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 61 ASEAN Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn)  

TABLE 62 Rest of Asia Pacific Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons) 

TABLE 63 Rest of Asia Pacific Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn) 

TABLE 64 Rest of Asia Pacific Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 65 Rest of Asia Pacific Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn) 

TABLE 66 Latin America Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons) 

TABLE 67 Latin America Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn) 

TABLE 68 Latin America Aromatic Solvents Market Volume, By End-users, 2014 –2023 (Kilo Tons) 

TABLE 69 Latin America Aromatic Solvents Market Revenue, By End-users, 2014 –2023 (US$ Mn) 

TABLE 70 Brazil Aromatic Solvents Market Volume, By Product Segment, 2014 –2023 (Kilo Tons) 

TABLE 71 Brazil Aromatic Solvents Market Revenue, By Product Segment, 2014 –2023 (US$ Mn)  

TABLE 72 Brazil Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 73 Brazil Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn) 

TABLE 74 Rest of Latin America Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons) 

TABLE 75 Rest of Latin America Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn) 

TABLE 76 Rest of Latin America Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 77 Rest of Latin America Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn) 

TABLE 78 MEA Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons) 

TABLE 79 MEA Aromatic Solvents Market Revenue, By Product Segment, 2014 –2023 (US$ Mn)  

TABLE 80 MEA Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 81 MEA Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn) 

TABLE 82 GCC Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons) 

TABLE 83 GCC Aromatic Solvents Market Revenue, By Product Segment, 2014 –2023 (US$ Mn)  

TABLE 84 GCC Aromatic Solvents Market Volume,By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 85 GCC Aromatic Solvents Market Revenue, By End-users, 2014 – 2023 (US$ Mn) 

TABLE 86 South Africa Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons) 

TABLE 87 South Africa Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn) 

TABLE 88 South Africa Aromatic Solvents Market Volume, By End-users, 2014 –2023 (Kilo Tons) 

TABLE 89 South Africa Aromatic Solvents Market Revenue, By End-users, 2014 –2023 (US$ Mn)    

TABLE 90 Rest of MEA Aromatic Solvents Market Volume, By Product Segment, 2014 – 2023 (Kilo Tons) 

TABLE 91 Rest of MEA Aromatic Solvents Market Revenue, By Product Segment, 2014 – 2023 (US$ Mn) 

TABLE 92 Rest of MEA Aromatic Solvents Market Volume, By End-users, 2014 – 2023 (Kilo Tons) 

TABLE 93 Rest of MEA Aromatic Solvents Market Revenue, By End-users, 2014 –2023 (US$ Mn)  


Solvents is a routinely used term in organic chemistry. Solvents are used to dissolve or disperse solid materials. Aromatic solvents constitute benzene, xylene, toluene, and other aromatic solvents such as solvent naphtha. These are widely produced organic chemicals in the petroleum refining industry through fractional distillation of petroleum stocks (also known as feedstock). Several other manufacturing processes such as coal carbonization, steam cracking, catalytic refining, hydro dealkylation, and pyroforming are employed to produce aromatic solvents. However, catalytic reforming and steam cracking are widely accepted methods in the oil and gas industry. Solvents are the integral component of paints & coatings, and inks. These petroleum-based chemicals dissolve the pigment and binding agent together to form a solution. Aromatic solvents are also employed during the drug formulation process and the synthesis of active excipients and substances in the pharmaceuticals end-user industry. These solvents are also used extensively in the manufacture of other intermediate chemicals such as ethylbenzene, cumene, phthalic anhydride, and maleic anhydride.

 

This report provides estimate and forecast for the aromatic solvents market on the global, regional and country level. The study provides forecast from 2015 to 2023 based on volume (Kilo Tons) and revenue (US$ Mn). 

 

The study provides a decisive view of the aromatic solvents market by dividing it into product segments such as benzene, toluene, xylene, and others. In terms of end-users, the global aromatic solvents market is segmented into pharmaceuticals, oilfield chemicals, automotive, paints & coatings, and others. End-user segments have been analyzed based on historic, present, and future trends, and the market has been estimated between 2015 and 2023 in terms of volume (Kilo Tons) and revenue (US$ Mn). Regional segmentation includes the current and forecast demand for North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa (MEA). Furthermore, country level analysis has been provided in the report. Major regions such as the U.S., France, UK, Spain, Germany, Italy, China, Japan, ASEAN, Brazil, GCC, and South Africa are included in the study. Segmentation includes demand for individual products and end-users in all the regions.

 

The report includes a detailed value chain analysis, which provides a comprehensive view of the market. Value chain analysis also provides detailed information about value addition at each stage of the value chain. The report comprises drivers and restraints for the aromatic solvents market, along with their impact on demand during the forecast period. Additionally, the report comprises the study of opportunities in the aromatic solvents market on the global level. 

 

The report evaluates Porter’s Five Forces model to gauge the degree of competition in the aromatic solvents market. The report comprises a qualitative write-up on market attractiveness analysis, wherein end-users have been analyzed based on their attractiveness. Growth rate, market size, raw material, profit margin, toxicity, technology, competition and other factors (such as environmental and legal) have been evaluated in order to derive general attractiveness of the market. The report includes raw material and price trend analysis for raw materials and aromatic solvents from 2013 to 2023. A brief qualitative description about manufacturing process to produce aromatic solvents is also included in the report.    

 

Secondary research sources that were typically referred to include, but were not limited to company websites, annual reports, investor presentations, broker reports, financial reports, and SEC filings. Other sources such as internal and external proprietary databases, statistical databases and market reports, national government documents, news articles, and webcasts specific to companies operating in the market have also been referred for the report. 

 

In-depth interviews and discussions with a wide range of key industry participants and opinion leaders were conducted to compile this research report. Primary research represents bulk of the research efforts, supplemented by an extensive secondary research. Key players’ product literature, annual reports, press releases, and relevant documents were reviewed for competitive analysis and market understanding. This helped in validating and strengthening the secondary research findings. Primary research further developed the analysis team’s expertise and market understanding.

 

The report covers a detailed competitive outlook that includes market share and profiles of key participants operating in the global market. Key players profiled in the report include Ashland Inc., BASF SE, Celanese Corporation, DEZA a. s., Exxon Mobil Corporation, Eastman Chemical Company, INEOS AG, Huntsman Corporation, LyondellBasell Industries N.V., Oil Refineries Ltd., Petrochem Carless, Royal Dutch Shell plc, and UOP LLC (Honeywell International Inc.). Company profiles include attributes such as company overview, business overview, brand overview, key competitors, business strategies, financial overview (financial year), and recent/key developments and acquisitions.

 

This report segments the global aromatic solvents market as follows:

  • Aromatic Solvents Market – Product Segment Analysis

    • Benzene
    • Toluene
    • Xylene
    • Others (Including solvent naphtha such as aromatic 100, aromatic 150, aromatic 200, etc.)
  • Aromatic Solvents Market – End-user Analysis

    • Pharmaceuticals
    • Oilfield Chemicals
    • Automotive
    • Paints & Coatings
    • Others (Including pesticide, textiles, cleaners, chemical intermediates, electronics, adhesive & sealants, perfumes, cosmetics, etc.)
  • Aromatic Solvents Market – Regional Analysis

    • North America

      • U.S.
      • Rest of North America
    • Europe

      • France
      • UK
      • Spain
      • Germany
      • Italy
      • Rest of Europe
    • Asia Pacific

      • China
      • Japan
      • ASEAN
      • Rest of Asia Pacific
    • Latin America

      • Brazil
      • Rest of Latin America
    • Middle East and Africa (MEA)

      • GCC
      • South Africa
      • Rest of Middle East and Africa