Market Definition:

The report presents a detailed analysis of the global toluene market by providing readers with a comprehensive overview of the market’s historical trajectory. The leading drivers and restraints affecting the global toluene market are assessed in detail in the report. The historical impact of these drivers and restraints is analyzed in context of the current impact of these factors and projections are made for the likely impact of these drivers and restraints over the forecast period. Various components of the global toluene market are also studied in the report and projections are made for the growth trajectory of each distinct component from 2018 to 2025. The various segments and sub-segments within the global toluene market are studied in detail in the report. The study also makes a detailed analysis of the major players operating in the global toluene market and provides a detailed look at the various competitive strategies employed by players in the global toluene market. Likely future conditions with respect to the competitive landscape of the market are also explained in detail in the report.

Market Overview and Growth Factors:

Toluene Market Size is expected to exhibit a strong 5.8% CAGR over the forecast period from 2019 to 2025, according to the latest research report from Market Research Future (MRFR). Toluene is widely used as a fuel additive to improve the octane rating of the same. This has been the major driver for the global toluene market and is likely to remain a leading market driver over the forecast period. Increasing the octane rating of fuels leads to cleaner burning as well as better automotive performance, leading to an increasing demand for toluene additives. The increasing demand to make petroleum fuels more environmentally viable is likely to remain a major driver for the global toluene market over the forecast period.

Toluene is also an excellent organic solvent, due to which it is widely used in various chemical formulations to add stability and make the formulations last longer. The paints and coatings industry is a key end user of toluene in this regard. The paints and coatings industry has been driven by the growing construction and automotive industries in developing countries and is likely to remain a major driving factor for the global toluene market over the forecast period. Toluene is also used to produce other chemicals, such as benzene and xylene. These chemicals also find vital uses in various applications in the chemical industry and are also likely to remain leading lights in driving the global toluene market. The increasing demand for environmentally viable paints and coatings, on the other hand, is likely to restrict the global toluene market’s growth prospects.

Competitive Analysis:

Leading players in the global toluene market include:

China National Petroleum Corporation
GS Caltex Corporation
CPC Corporation
SK Innovation Co. Ltd.
DuPont de Nemours Inc.
Total S.A.
Indian Oil Corporation Ltd.
Formosa Chemicals & Fiber Corporation
Royal Dutch Shell plc
BASF SE
China Petroleum & Chemical Corporation
BP plc
Covestro AG
Exxon Mobil Corporation.
Segmentation:

The global toluene market is segmented on the basis of product type, application, end use, and region.

On the basis of product, the global toluene market is segmented into benzene and xylene, gasoline additives, solvents, tri-nitrotoluene (TNT), toluene diisocyanate (TDI), and others. The benzene and xylene segment held the largest share in the global toluene market, followed by the solvents segment. The benzene and xylene segment is mainly driven by their use in petrol additives.

By application, the global toluene market is segmented into paints and coatings, foam, fuel additives, cleaning agents, heating oils, polymers, and others. The fuel additives segment dominates the global toluene market, as this is the major application for toluene.

On the basis of end use, the global toluene market is segmented into oil and gas, building and construction, automotive, healthcare, packaging, and others. The oil and gas segment is expected to be the leading end user of toluene over the forecast period.

Regional Analysis:

Asia Pacific holds the largest share in the global toluene market, followed by North America and Europe. Countries such as China and South Korea are likely to have a prominent role in the global toluene market in the coming years.

Browse key industry insights spread across 140 pages with 47 market data tables & 12 figures & charts from the report, “Toluene Market Research Report: Information by Product Type (Benzene and Xylene, Gasoline Additives, Solvents, Tri-Nitrotoluene (TNT), Toluene Diisocyanate (TDI) and others), Application (Paints & Coatings, Foams, Fuel Additives, Cleaning Agents, Heating Oils, Polymer Production and others), End-use Industry (Oil & Gas, Building & Construction, Automotive, Healthcare, Packing and others) and Region (North America, Europe, Asia-Pacific, Latin America and Middle East & Africa) - Forecast till 2025” in detail along with the table of contents @ https://www.marketresearchfuture.com/reports/toluene-market-1034