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Toluene Market [RISING TODAY] Higher Mortality Rates by 2030

United State- Toluene is a clear water insoluble aromatic hydrocarbon solvent with molecular formula of C7H8. It possesses aromatic, benzene-like smell, and is a highly volatile flammable liquid with a flash point of 4?C. It is produced from petroleum and coal tar, and is used as a solvent in the manufacturing of other organic chemicals, such as benzene, xylene, and toluene diisocyanate.

The global toluene market size is expected to reach $23,393 million by 2027 from $16,597 million in 2021, registering a CAGR of 5.0% from 2021 to 2027.

Market Statistics:

The file offers market sizing and forecast throughout 5 primary currencies – USD, EUR GBP, JPY, and AUD. It helps corporation leaders make higher choices when foreign money change records are available with ease. In this report, the years 2020 and 2021 are regarded as historic years, 2020 as the base year, 2021 as the estimated year, and years from 2021 to 2030 are viewed as the forecast period.

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It is used as a solvent in paints, thinners, adhesives, and inks. Cosmetic and personal care products such as nail paints and removers containing toluene are applied to the hard, impenetrable surface of the nail where a smooth and glossy film is quickly formed upon evaporation of the solvents.

The toluene market has grown considerably in the recent years in developing nations, such as China, India, and Japan, owing to increase in investments in chemicals, petrochemicals, and oil & gas industries. Moreover, crude oil & natural gas contains high impurities and corrosive components, such as hydrogen sulfide, carbon dioxide, and free water, which cause deterioration of the inner walls of wells and pipelines. Continual oil & gas extraction could lead to corrosion of the internal surface of pipelines. Aromatic solvents (benzene, toluene, ethylbenzene, and mixed xylenes (BTEX)) are used as corrosion inhibitors for internal protection of pipes as well as perform fractional distillation in the oil & gas industries. Therefore, rise in demand for toluene as corrosion inhibitor in the oil & gas industry acts as a driving factor of the market.

Benzene toluene xylene (BTX) is a synthetic source of volatile organic compounds (VOCs). VOCs have compounding, long-term adverse effects on health; thus, is strictly regulated by various legislations. Moreover, stringent regulations about VOCs is expected to hamper the adoption of aromatic chemicals.

The global toluene market is segmented based on derivative type, application, material for construction, and geography. Based on derivative type, it is classified into benzene & xylene, toluene diisocyanates, solvents, gasoline additives, and others. The benzene & xylene type segment registered significant growth during 2016, and is expected to grow during the forecast period. The bending application segment is estimated to grow at a significant CAGR of 5.2%. By technology, it is segmented into reformate process, pygas process, coke/coal process, and styrene process. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for nearly half of the share of the total revenue in 2016, followed by North America and Europe.

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Key market players have invested in R&D activities to develop advanced products to cater to the demand of end users. The key players in the toluene market include:

ExxonMobil Chemical
Sinopec
Shell
Reliance Industries

ConocoPhillips
Valero Energy

BASF
BP Chemicals
China National Petroleum
Mitsui Chemicals

KEY BENEFITS FOR STAKEHOLDERS

The report provides an extensive analysis of the current and emerging trends, estimations, and opportunities during the forecast period in the toluene market.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Comprehensive regional analysis of the market based on primary and secondary sources is provided.
Extensive analysis of the market is conducted by following product benchmarking, positioning, and monitoring the top competitors within the global market.
The report provides extensive qualitative insights on the significant segments or regions and key insights on strategic analysis of various companies and value chain analysis of the market.

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COVID-19 Impact

The COVID-19 pandemic in 2019 engulfed the world. It caused a worldwide halt. The entire global economy was affected. In addition, many people have also lost their lives. Around 252,297,094 cases and 5,091,465 deaths have been reported worldwide so far for COVID-19. The pandemic spread to almost every country in the world. In most industries, the pandemic resulted in some form of loss. As a result of the pandemic, the global toluene market also experienced a slowdown. Statista estimates that the chemical industry’s total worldwide revenue stood at approximately US$ 3.94 trillion in 2019. In 2014, the chemical industry generated revenues of US$ 5.4 trillion at a record high.

The degree of competition among prominent global companies has been developed by analyzing several leading Toluene market, including market competition, market share, the most recent advancements in the industry, innovative product launches, partnerships, mergers, and acquisitions by leading companies.

A release on June 8th, 2021, by the Bureau and Economic Analysis and U.S. The Census Bureau reports the recovery of the U.S. market. The report also described the recovery of U.S. International Trade in July 2021.In April 2021, exports in the country reached $300 billion, an increase of $13.4 billion. In April 2021, imports amounted to $294.5 billion, increasing by $17.4 billion. COVID19 is still a significant issue for economies around the globe, as evidenced by the year-over-year decline in exports in the U.S. between April 2020 and April 2021 and the increase in imports over that same period of time. The market is clearly trying to recover. Despite this, it means there will be a direct impact on the Healthcare/ICT/Chemical industries.

Toluene Market Key Segmentation:

By Derivative Type

Benzene & Xylene
Toluene Diisocyanates
Solvents
Gasoline Additives
Others (Benzaldehyde and Benzoic Acid)

By Production Process

Reformate Process
Pygas Process
Coke/Coal Process
Styrene Process

By Application

Drugs
Dyes
Blending
Cosmetic Nail Products
Others (TNT, Pesticides, and Fertilizers)

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By Geography

North America
U.S.
Canada
Mexico
Europe
France
Germany
UK
Spain
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
Australia
Korea
Rest of Asia-Pacific
LAMEA
Brazil
KSA
South Africa
Rest of LAMEA

Other players in the value chain (profiles not included in the report) are: –

Koch Industries
JX Nippon Oil and Energy Corporation
Chevron Phillips
Nova Chemicals
Sherwin-Williams
Total Petrochemicals
Lyondell Basel
Covestro
Formosa Plastics

Table of Content:

  • Market Definition and Overview
  • Research Method and Logic
  • Market Competition Analysis
  • Product and Service Analysis
  • Strategies for Company to Deal with the Impact of COVID-19
  • Market Segment by Type, Historical Data and Market Forecasts
  • Market Segment by Application, Historical Data and Market Forecasts
  • Market by by Region, Historical Data and Market Forecasts
  • Market Dynamic Analysis and Development Suggestions

Key Questions Answered in the Market Report

• How did the COVID-19 pandemic impact the adoption of by various pharmaceutical and life sciences companies?
• What is the outlook for the impact market during the forecast period 2021-2030?
• What are the key trends influencing the impact market? How will they influence the market in short-, mid-, and long-term duration?
• What is the end user perception toward?
• How is the patent landscape for pharmaceutical quality? Which country/cluster witnessed the highest patent filing from January 2014-June 2021?
• What are the key factors impacting the impact market? What will be their impact in short-, mid-, and long-term duration?
• What are the key opportunities areas in the impact market? What is their potential in short-, mid-, and long-term duration?
• What are the key strategies adopted by companies in the impact market?
• What are the key application areas of the impact market? Which application is expected to hold the highest growth potential during the forecast period 2021-2030?
• What is the preferred deployment model for the impact? What is the growth potential of various deployment models present in the market?
• Who are the key end users of pharmaceutical quality? What is their respective share in the impact market?
• Which regional market is expected to hold the highest growth potential in the impact market during the forecast period 2021-2030?
• Which are the key players in the impact market?

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