Aromatics Market Analysis By Industry Size, And Share, Manufacturers, Demand Forecast 2025

As on date of publishing, this report will capture the impact assessment of COVID-19 on this market and the same will be considered in our market forecast model. Clients purchasing this report between April and June 2020 will be getting a ‘free’ updated market data excel sheet between July and September 2020 accounting for the impact of COVID-19 on the market in the current year 2020 and forecast.

Increasing use in paints and coatings coupled with rising demand from polyester manufacturers are driving consumption of aromatics across the globe. Asia Pacific is expected to continue its dominance in the global aromatics market due to growing chemicals, paints & coatings, and pharmaceutical sectors across the region. However, rising awareness among people for using plastic-free products and stringent government regulations are expected to hamper the growth of the global aromatics market over the next five years. Moreover, disruptions in entire supply chain due to COVID-19 pandemic is expected to result in decline in demand for aromatics from various end use applications during 2020. Nevertheless, the global aromatics market is projected to continue growing from 2021 onwards and surpass $ 76 billion by 2025.

By Type

Based on type, the aromatics are bifurcated into Benzene, Toluene, Para-Xylene, Ortho-Xylene and Others, of which, Para-Xylene holds the largest market share due to its high demand in fiber, films, and Polyethylene Terephthalate (PET) resin market. Para-Xylene segment is expected to witness a further increase in market share during the forecast period.

By Application

Demand for aromatic solvents in recent years has increased due to growing usage in automotive industry, which generates huge demand for adhesives & sealants to bond the vehicle parts in order to provide mechanical stiffness to the vehicle, thus avoids failing. These solvents produced through crude petroleum distillation in the oil refining industry are broadly used as corrosion inhibitors in oil and gas pipelines to perform fractional distillation, which avoids deterioration of inner walls of pipelines owing to high contents of carbon dioxide, hydrogen sulfide and other corrosive products. These factors will swell the aromatic solvents market size during the forecast timeframe.

Aromatics intermediates provide some of the basic building blocks of the modern petrochemical industry. Clothing, packaging, paints, adhesives, computers, compact discs, snow boards and tennis racquets are among the many products that rely on aromatics.

By End use

Based on end use, the market can be fragmented majorly into Chemicals, Paint & Coating, Adhesive and Pharmaceuticals. Chemicals end-use application segment continues to dominate the aromatics market, followed by Paints & Coatings, Pharmaceuticals, and Adhesives end use segments.

By Region

Region wise, Asia Pacific is likely to dominate the global aromatics market due to high consumption of Benzene and Para-Xylene across the region. Benzene is used to produce several intermediates that are used to create polymers, solvents, and detergents.

Click here to download the brochure

Years considered for this report:

Historical Years: 2015-2018

Base Year: 2019

Estimated Year: 2020

Forecast Period: 2021–2025

Objective of the Study:

·         To analyze and forecast Global Aromatics market size.

·         To define, classify and forecast Global Aromatics market on the basis of Type, Application, End Use and Region.

·         To scrutinize the detailed market segmentation and forecast the market size, in terms of value, based on Type, Application, End Use, and Region

·         To analyze and forecast the market share for global aromatics market with respect to regions namely North America, South America, Asia Pacific, Europe and Middle East and Africa.

·         To get an idea about the consumer behavior towards challenges faced while purchasing aromatics, frequency of buying and evaluate major factors impacting the buying decision.

·         To strategically profile the leading players in the market

 


Global Aromatics market is dominated by these major players, namely– DuPont de Nemours, Inc., Alpek S.A.B de C.V, BP PLC, China National Petroleum Corporation, ExxonMobil Corporation, Indorama Ventures, Reliance Industries Limited, Shell Chemicals Ltd., SABIC, Lyondell Basell and others

TechSci Research performed both primary as well as exhaustive secondary research for this study. Initially, TechSci Research sourced a list of major aromatics manufacturers and suppliers. Subsequently, TechSci Research conducted primary research surveys with the identified companies. While interviewing, the respondents were also enquired about their competitors. Through this technique, TechSci Research was able to include the manufacturers which could not be identified due to the limitations of secondary research. TechSci Research analyzed the product offerings, and regional presence of all major aromatics suppliers across the globe.

TechSci Research calculated the market size for global aromatics market using a bottom-up approach, where manufacturers value shares data for product segments was recorded and forecast for the future years. TechSci Research sourced these values from industry experts and company representatives and externally validated through analyzing historical sales data of respective manufacturers to arrive at the overall market size. Various secondary sources such as secondary sources directories, databases such as Company Annual Reports, World Bank, Industry Magazines, Industry Reports, News Dailies, Company Annual Reports, World Bank, Associations, Food and Agricultural Organizations, Industry Magazines, Industry Reports, News Dailies, Credible Paid Databases, Proprietary Database, etc. were also reviewed by the TechSci Research.


Key Target Audience:

  • Global aromatics manufacturers, suppliers, distributors and other stakeholders
  • Major end-users of aromatics
  • Organizations, forums and alliances related to storage market
  • Government bodies such as regulating authorities and policy makers
  • Market research and consulting firms

The study is useful in providing answers to several critical questions that are important for the industry stakeholders such as aromatics manufacturers, distributors and dealers, customers and policy makers, about which market segments should be targeted over the coming years (next five years) in order to strategize investments and capitalize on the growth of the market segments.

Report Scope:

In this report, global aromatics market has been segmented into the following categories in addition to the industry trends which have also been detailed below:

  • Market, By Type:
    • Benzene
    • Toluene
    • Para-Xylene
    • Ortho-Xylene
    • Others
  • Market, by Application:
    • Solvents
    • Intermediates
  • Market, By Region:
    • Asia Pacific
    • North America
    • South America
    • Middle East & Africa
    • Europe
  • Market, By End Use:
    • Chemicals
    • Paint and Coatings
    • Adhesives
    • Pharmaceuticals
    • Others

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in global aromatics market.

About TechSci Research

TechSci Research is a leading global market research firm publishing premium market research reports. Serving 700 global clients with more than 600 premium market research studies, TechSci Research is serving clients across 11 different industrial verticals. TechSci Research specializes in research-based consulting assignments in high growth and emerging markets, leading technologies and niche applications. Our workforce of more than 100 fulltime Analysts and Consultants employing innovative research solutions and tracking global and country specific high growth markets helps TechSci clients to lead rather than follow market trends.

Contact

Mr. Ken Mathews

708 Third Avenue,

Manhattan, NY,

New York – 10017

Tel: +1-646-360-1656

Email: sales@techsciresearch.com

Website: https://www.techsciresearch.com

Comments

Post a Comment

Popular posts from this blog

Saudi Arabia Inductor Market Analysis By Inductance, Size, Share, Trend, Competition, Future Growth Forecast 2027 | TechSci Research

Image
Saudi Arabia inductor market is expected to grow at a steady CAGR during the forecast period. The rise in the demand for consumer electronics and the growing per capita income of middle-class families is increasing consumers' expenditure capacity, which is considered the major driving factor for the growth of the inductor market in the forecast period. The growing adoption of electric vehicles due to the surge in awareness regarding the harmful emissions into the environment is expected to support the growth of the Saudi Arabia inductor market. The surge in the government initiatives to boost other industries growth to diversify the income sources and reduce the dependency on the oil industry as the oil industry is considered the major income-generating industry in Saudi Arabia is expected to foster the demand for semiconductor-related industries, which in turn is influencing the inductor market growth. Ongoing initiatives such as Neom city, National Transformation Program, and th...
Read more

Global Multi-Cloud Management Market Analysis By Platform, Size, Share, Trend, Competition, Future Growth Forecast 2027 | TechSci Research

Global multi-cloud management market is expected to grow at a significant CAGR during the forecast period. Growing implementation of multi cloud management solutions by enterprises across the globe is one of the key factors due to which the market is anticipated to rev up during the forecast years. Moreover, ambiguity about single cloud reliability is positively impacting the growth of market during the forecast period. Furthermore, adoption of micro-services for cloud native applications is expected to bolster the growth of market over the next few years. However, lack of security might act as major impediment to the growth of global multi-cloud management market in the years to come. The global multi-cloud management market is segmented based on  platform, service type, deployment mode, application, end user , company, and region. Based on   platform, the market can be categorized into internal brokerage enablement and external brokerage enablement. Out of which, the extern...
Read more

Vietnam Telecom Market Demand Is Driven By The Proliferation Of Smartphones And Increase In The Fixed Broadband Subscribers | TechSci Research

Image
According to TechSci Research,  Vietnam Telecom market is expected to grow at a steady CAGR in the forecast period, 2023-2027. The proliferation of smartphones and increase in the fixed broadband subscribers is driving the demand of the Vietnam Telecom market. The growing demand for high-speed connectivity by the customers and the massive expenditure for the deployment of the 5G technology are expected to influence the market growth. The use of 5G technology can facilitate autonomous cars and other smart devices and equipment to obtain real-time information. The shift in customers' preference for the adoption of next-generation technologies and getting real-time data from the customers are contributing to the Vietnam Telecom market growth.  The COVID-19 pandemic and the work from home facility provided to the employees is surging the demand for broader bandwidth. The growing adoption of the internet of things technology among the prominent industry verticals to get real-time ...
Read more