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Toluene Market Analysis, Share, Industry, Opportunities 2031
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Toluene Market Analysis, Share, Industry, Opportunities 2031

Segments - Toluene Market by Applications (Explosive, Gasoline, Solvent, Chemical Intermediates, and Others), Derivatives (Toluene Diisocyanates, Gasoline Additives, Benzene & Xylene, and Others), and Regions (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028

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Author : Riddhesh Dani
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Fact-checked by : Harneet Meher
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Editor : Shruti Bhat

Upcoming | Report ID :MC-4449 | 4.5 Rating | 77 Reviews | 175 Pages | Format : PDF Excel PPT

Report Description


The global toluene market size is anticipated to register a considerable CAGR during the forecast period, 2021-2028. The growth of the market is attributed to growing applications in variety of industries such as cosmetic nail products, pharmaceuticals, blending, pesticides and fertilizer manufacture globally.

Toluene Market Key Takeaways

Toluene is a water-insoluble, colorless, volatile, and flammable liquid that has same odors such as benzene and is widely used as a paint thinner. It derives from tolu trees and is extracted in crude oils. Some of the common names associated with toluene are ethoxide, phenylmethane, methylbenzene, antisal, and toluol. Wafers and chips are also cleaned with the solution. Toluene is a byproduct of the coal-fired manufacturing of gasoline and coke. Since it is made from petroleum and coal tar, it is extensively used to boost the octane rating of gasoline.

The COVID-19 pandemic has a considerable impact on the global toluene market. Due to the ongoing pandemic and stringent lockdown imposed by governments and regulatory agencies globally; several enterprises ranging from small to large suffered loss in their operation including the market. The hindrance in supply chain worldwide is another key aspect that hamper the market growth during the pandemic. The market is expected to recover soon with an uptrend operation as due to subsiding COVID cases.

  • Growing usage of toluene as a solvent for various application and growing construction projects especially in developing regions are key factors driving the market.
  • Usage of toluene in the production of other chemicals such as benzene xylene benzoic acid and others is expected to boost the market in the coming years.
  • Increasing awareness associated with the application of toluene and its derivatives is expected to fuel the market during the projected period.
  • Stringent government regulations with the application of toluene presents a major challenge. This is anticipated to hamper the market growth in the projected period.
  • Use of terminals for octane boosters in gasoline is projected to create significant growth opportunities for the market in the near future.

Scope of the Report

The report on the global toluene market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Attributes

Details

Report Title

Toluene Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast

Base Year

2020

Historic Data

2018–2019

Forecast Period

2021–2028

Segmentation

Applications (Explosive, Gasoline, Solvent, Chemical Intermediates, and Others) and Derivatives (Toluene Diisocyanates, Gasoline Additives, Benzene & Xylene, and Others)

Regional Scope

Asia Pacific, North America, Latin America, Europe, and Middle East & Africa

Report Coverage

Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast

Key Players Covered in the Report

Chevron Phillips Chemical Company, LLC; BASF SE; LyondellBasell Industries N.V.; Covestro AG; and Exxon Mobil Corp.

Market Segment Insights

Chemical intermediates segment to grow at a rapid pace

Based on applications, the global toluene market is divided into explosive, gasoline, solvent, chemical intermediates, and others. The chemical intermediates segment is expected to grow at a rapid pace during the forecast period owing to the chemical used in the manufacturing of polyurethane. The chemical particularly has its flexible foam applications such as furniture and beds as well as in packaging. However, the solvent segment is anticipated to hold a key share of the market in the coming years due to wide adoption of the solution by numerous end-users.

Benzene & xylene segment to expand at a considerable CAGR

On the basis of derivatives, the market is segregated into toluene diisocyanates, gasoline additives, benzene & xylene, and others. The benzene & xylene segment is projected to expand at a considerable CAGR during the forecast period attributed to the growing demand for its derivatives, such as polyethylene terephthalate and polystyrene in several applications. Moreover, growing demand for coatings and sealants to reduce leakages is expected to drive the segment growth further.

Asia Pacific to constitute a key market share

In terms of regions, the global toluene market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is expected to constitute a key share of the market during the projected period owing to rising demand for automobiles along with rising purchasing parity of consumers across the region. However, the market of North America is anticipated to expand at a rapid pace during the forecast period attributed to the growing demand for luxurious vehicles in the region.

Toluene Market By Regions

Segments

The global toluene market has been segmented on the basis of

Applications
  • Explosive
  • Gasoline
  • Solvent
  • Chemical Intermediates
  • Others
Derivatives
  • Toluene Diisocyanates
  • Gasoline Additives
  • Benzene & Xylene
  • Others
Regions
  • Asia Pacific
  • North America
  • Latin America
  • Europe
  • Middle East & Africa
Key Players

Competitive Landscape

Key players competing in the global toluene market are Chevron Phillips Chemical Company, LLC; BASF SE; LyondellBasell Industries N.V.; Covestro AG; and Exxon Mobil Corp. Manufacturers in the market have used a variety of strategic initiatives such as collaborations, mergers & acquisitions, and partnerships to grow their customer base and gain a competitive advantage over competitors. Furthermore, corporations are focusing their investments in R&D for the creation and introduction of new products in order to preserve their market competitiveness.

Toluene Market By Key Players

Table Of Content

1. Executive Summary
2. Assumptions and Acronyms Used
3. Research Methodology
4. Toluene Market Overview
  4.1. Introduction
     4.1.1. Market Taxonomy
     4.1.2. Market Definition
  4.2. Macro-Economic Factors
     4.2.1. Industry Outlook
  4.3. Toluene Market Dynamics
     4.3.1. Market Drivers
     4.3.2. Market Restraints
     4.3.3. Opportunity
     4.3.4. Market Trends
  4.4. Toluene Market - Supply Chain
  4.5. Global Toluene Market Forecast
     4.5.1. Toluene Market Size (US$ Mn) and Y-o-Y Growth
     4.5.2. Toluene Market Size (000’ Units) and Y-o-Y Growth
     4.5.3. Toluene Market Absolute $ Opportunity
5. Global Toluene Market Analysis and Forecast by Applications
  5.1. Market Trends
  5.2. Introduction
     5.2.1. Basis Point Share (BPS) Analysis by Applications
     5.2.2. Y-o-Y Growth Projections by Applications
  5.3. Toluene Market Size and Volume Forecast by Applications
     5.3.1. Explosive
     5.3.2. Gasoline
     5.3.3. Solvent
     5.3.4. Chemical Intermediates
     5.3.5. Others
  5.4. Absolute $ Opportunity Assessment by Applications
  5.5. Market Attractiveness/Growth Potential Analysis by Applications
6. Global Toluene Market Analysis and Forecast by Region
  6.1. Market Trends
  6.2. Introduction
     6.2.1. Basis Point Share (BPS) Analysis by Region
     6.2.2. Y-o-Y Growth Projections by Region
  6.3. Toluene Market Size and Volume Forecast by Region
     6.3.1. North America
     6.3.2. Latin America
     6.3.3. Europe
     6.3.4. Asia Pacific
     6.3.5. Middle East and Africa (MEA)
  6.4. Absolute $ Opportunity Assessment by Region
  6.5. Market Attractiveness/Growth Potential Analysis by Region
  6.6. Global Toluene Demand Share Forecast, 2019-2026
7. North America Toluene Market Analysis and Forecast
  7.1. Introduction
     7.1.1. Basis Point Share (BPS) Analysis by Country
     7.1.2. Y-o-Y Growth Projections by Country
  7.2. North America Toluene Market Size and Volume Forecast by Country
     7.2.1. U.S.
     7.2.2. Canada
  7.3. Absolute $ Opportunity Assessment by Country
  7.4. North America Toluene Market Size and Volume Forecast by Applications
     7.4.1. Explosive
     7.4.2. Gasoline
     7.4.3. Solvent
     7.4.4. Chemical Intermediates
     7.4.5. Others
  7.5. Basis Point Share (BPS) Analysis by Applications
  7.6. Y-o-Y Growth Projections by Applications
  7.7. Market Attractiveness/Growth Potential Analysis
     7.7.1. By Country
     7.7.2. By Product Type
     7.7.3. By Application
  7.8. North America Toluene Demand Share Forecast, 2019-2026
8. Latin America Toluene Market Analysis and Forecast
  8.1. Introduction
     8.1.1. Basis Point Share (BPS) Analysis by Country
     8.1.2. Y-o-Y Growth Projections by Country
     8.1.3. Latin America Average Pricing Analysis
  8.2. Latin America Toluene Market Size and Volume Forecast by Country
      8.2.1. Brazil
      8.2.2. Mexico
      8.2.3. Rest of Latin America
   8.3. Absolute $ Opportunity Assessment by Country
  8.4. Latin America Toluene Market Size and Volume Forecast by Applications
     8.4.1. Explosive
     8.4.2. Gasoline
     8.4.3. Solvent
     8.4.4. Chemical Intermediates
     8.4.5. Others
  8.5. Basis Point Share (BPS) Analysis by Applications
  8.6. Y-o-Y Growth Projections by Applications
  8.7. Market Attractiveness/Growth Potential Analysis
     8.7.1. By Country
     8.7.2. By Product Type
     8.7.3. By Application
  8.8. Latin America Toluene Demand Share Forecast, 2019-2026
9. Europe Toluene Market Analysis and Forecast
  9.1. Introduction
     9.1.1. Basis Point Share (BPS) Analysis by Country
     9.1.2. Y-o-Y Growth Projections by Country
     9.1.3. Europe Average Pricing Analysis
  9.2. Europe Toluene Market Size and Volume Forecast by Country
     9.2.1. Germany
     9.2.2. France
     9.2.3. Italy
     9.2.4. U.K.
     9.2.5. Spain
     9.2.6. Russia
     9.2.7. Rest of Europe
  9.3. Absolute $ Opportunity Assessment by Country
  9.4. Europe Toluene Market Size and Volume Forecast by Applications
     9.4.1. Explosive
     9.4.2. Gasoline
     9.4.3. Solvent
     9.4.4. Chemical Intermediates
     9.4.5. Others
  9.5. Basis Point Share (BPS) Analysis by Applications
  9.6. Y-o-Y Growth Projections by Applications
  9.7. Market Attractiveness/Growth Potential Analysis
     9.7.1. By Country
     9.7.2. By Product Type
     9.7.3. By Application
  9.8. Europe Toluene Demand Share Forecast, 2019-2026
10. Asia Pacific Toluene Market Analysis and Forecast
  10.1. Introduction
     10.1.1. Basis Point Share (BPS) Analysis by Country
     10.1.2. Y-o-Y Growth Projections by Country
     10.1.3. Asia Pacific Average Pricing Analysis
  10.2. Asia Pacific Toluene Market Size and Volume Forecast by Country
     10.2.1. China
     10.2.2. Japan
     10.2.3. South Korea
     10.2.4. India
     10.2.5. Australia
     10.2.6. Rest of Asia Pacific (APAC)
  10.3. Absolute $ Opportunity Assessment by Country
  10.4. Asia Pacific Toluene Market Size and Volume Forecast by Applications
     10.4.1. Explosive
     10.4.2. Gasoline
     10.4.3. Solvent
     10.4.4. Chemical Intermediates
     10.4.5. Others
  10.5. Basis Point Share (BPS) Analysis by Applications
  10.6. Y-o-Y Growth Projections by Applications
  10.7. Market Attractiveness/Growth Potential Analysis
     10.7.1. By Country
     10.7.2. By Product Type
     10.7.3. By Application
  10.8. Asia Pacific Toluene Demand Share Forecast, 2019-2026
11. Middle East & Africa Toluene Market Analysis and Forecast
  11.1. Introduction
     11.1.1. Basis Point Share (BPS) Analysis by Country
     11.1.2. Y-o-Y Growth Projections by Country
     11.1.3. Middle East & Africa Average Pricing Analysis
  11.2. Middle East & Africa Toluene Market Size and Volume Forecast by Country
     11.2.1. Saudi Arabia
     11.2.2. South Africa
     11.2.3. UAE
     11.2.4. Rest of Middle East & Africa (MEA)
  11.3. Absolute $ Opportunity Assessment by Country
  11.4. Middle East & Africa Toluene Market Size and Volume Forecast by Applications
     11.4.1. Explosive
     11.4.2. Gasoline
     11.4.3. Solvent
     11.4.4. Chemical Intermediates
     11.4.5. Others
  11.5. Basis Point Share (BPS) Analysis by Applications
  11.6. Y-o-Y Growth Projections by Applications
  11.7. Market Attractiveness/Growth Potential Analysis
     11.7.1. By Country
     11.7.2. By Product Type
     11.7.3. By Application
  11.8. Middle East & Africa Toluene Demand Share Forecast, 2019-2026
12. Competition Landscape
  12.1. Global Toluene Market: Market Share Analysis
  12.2. Toluene Distributors and Customers
  12.3. Toluene Market: Competitive Dashboard
  12.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
     12.4.1. Chevron Phillips Chemical Company, LLC
     12.4.2. BASF SE
     12.4.3. LyondellBasell Industries N.V.
     12.4.4. Covestro AG
     12.4.5. Exxon Mobil Corp.

Methodology

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