Toluene Market worth 23.41 Billion USD by 2021


Posted December 20, 2018 by abhijeetw1

[216 Pages Report] The global toluene market was valued at USD 20.02 Billion in 2015 and is projected to reach USD 23.41 Billion by 2021, at a CAGR of 6.3% from 2016 to 2021.

 
[216 Pages Report] The global toluene market was valued at USD 20.02 Billion in 2015 and is projected to reach USD 23.41 Billion by 2021, at a CAGR of 6.3% from 2016 to 2021. In this report, 2015 is considered the base year and the forecast period is from 2016 to 2021.

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The global toluene market has a large number of market players; however the market is led by some of the major players, such as, China Petroleum & Chemical Corporation (China), China National Petroleum Corporation (China), Exxon Mobil Corporation (U.S.), Covestro AG (Germany), BP P.L.C. (U.K.), SK Innovations (South Korea), BASF SE (Germany), GS Caltex (South Korea), Formosa Chemical & Fiber Corporation (Taiwan), Royal Dutch Shell (Netherlands), and CPC Corporation (Taiwan), among others.

Target Audience:

Toluene manufacturers
Toluene dealers
Toluene suppliers
End users, raw material suppliers, and others
Toluene Market Segmentation, by Application and Derivative:

Benzene and Xylene
Solvents
Gasoline Additives
TDI
Others
Trinitrotoluene
Benzoic acid
Benzaldehyde
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“Asia-Pacific is the key market for toluene”

The Asia-Pacific region is estimated to have led the toluene market in 2016. China is the largest consumer of toluene in the world. The demand for toluene is driven by the diverse industrial markets ranging from building & construction, automotive, industrial, and oil & gas, among others. The ensuing increase in investments and rise in the number of new manufacturing establishments is expected to lead the Asia-Pacific region emerging as the prime driver for the toluene market.

“TDI segment to be the fastest growing market for toluene”

The TDI segment is estimated to be fastest growing segment in the toluene market. Growth in the automotive and building & construction industries is expected to drive the market of TDI for polyurethane, which is used as an insulating foam in these industries. North America is expected to witness high potential growth in the TDI segment due to the recent discoveries of shale gas and shale oil in the region and a strong manufacturing base in the U.S. Rising energy costs and greenhouse gas emissions have prompted various companies to improve the energy efficiency in households and industrial buildings, which is driving the demand for PU foams for use as insulators. PU foam is used in automobiles due to the light weight, which helps in the reduction of fuel emissions. With the increasing concerns regarding the conservation of energy, the market for PU is expected to grow, which, in turn, is expected drive the demand for toluene.

Contact:
Mr. Shelly Singh
MarketsandMarkets™ INC.
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Suite 430
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USA : +1-888-600-6441
Email: [email protected]
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Issued By marketsandmarkets
Country United States
Categories Business , Industry , Manufacturing
Tags benzene , toluene , toluene market
Last Updated December 20, 2018