Aromatics Market

Aromatics - Global Market Outlook (2019-2027)

4.1 (81 reviews)
Published: June 2020 ID: SMRC19379
4.1 (81 reviews)
Published: June 2020 ID: SMRC19379

This report covers the impact of COVID-19 on this global market

According to Stratistics MRC, the Global Aromatics Market is accounted for $187.99 billion in 2019 and is expected to reach $335.27 billion by 2027 growing at a CAGR of 7.5% during the forecast period. Some of the key factors propelling the market growth include high demand for residential and commercial infrastructure, increased use in paint and coatings, and rise in demand from polyester manufacturers. However, rise in awareness among people for using plastic-free products and stringent government regulations are likely to hamper the market. Moreover, use of bio-based aromatics and advancements in technologies to reduce aromatics waste are expected to provide lucrative growth opportunities for the aromatics market.

Aromatics are organic chemical compounds that are characterized by circular planar conjugated ring structures and are known for their flexible and useful chemical properties. They are derived during the distillation of crude oil in refineries. Some examples of aromatic compounds include, benzene, toluene, aniline, cumene and others. It is used as a solvent for removing oil or grease, in paint industry; it used as thinner, and as an aromatic additive, it helps in reducing engines knocking.

By end user, the paint & coating segment is estimated to witness a significant growth owing to increasing building and infrastructure activities across the globe, thus demanding greater proportion of Aromatic in the industry. On the basis of geography, Asia-Pacific is the significant growing market, increase in a number of the construction projects have positively influenced the  paint & coatings industry, thus favouring aromatic market growth. In addition, increasing government funding and investment in the pharmaceutical industry is supporting the market growth of aromatic solvents. Further, the rise in the application of aromatic additive in adhesive and sealants for packaging is fueling market growth in this region.

Some of the key players in aromatics market include Сеlаnеѕе, Реtrосhеm Саrlеѕѕ, Canada Colors and Chemicals Limited, DuPont de Nemours, Inc., Еаѕtmаn Сhеmісаl, Аѕhlаnd, HCS Group GmbH, ІNЕОЅ, Exxon Mobil Corporation, ВАЅF, Нuntѕmаn, SABIC, Shell Chemicals, Honeywell International Inc, PetroChina Company Limited, LyondellBasell , Reliance Industries Ltd, China National Petroleum Corporation, Alpek S.A.B de C.V, and BP PLC.

Types Covered:
• Toluene
• Para-Xylene
• Benzene
• Styrene
• Ortho-Xylene
• Methylenediphenyl Diisocyanate (MDI)
• Xylene
• Phenol
• Purified Terephthalic Acid
• Acetone
• Toluene Diisocyanate (TDI)

Applications Covered:
• Chemical Processing
• Textile Industry
• Intermediates
• Plastic Industry

End Users Covered:
• Pharmaceuticals
• Adhesive
• Automotive
• Paints & Coating
• Oil & Gas

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o France
o Italy
o UK 
o Spain
o Rest of Europe      
• Asia Pacific
o Japan       
o China       
o India       
o Australia        
o New Zealand      
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2018, 2019, 2020, 2024 and 2027
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic analysis: Drivers and Constraints, Product/Technology Analysis, Porter’s five forces analysis, SWOT analysis, etc.
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

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o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

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