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Aromatic Solvents Market worth $8.29 billion by 2023


(, September 28, 2019 ) The report "Aromatic Solvents Market by Type (Toluene Solvents, Xylene Solvents and Ethylbenzene Solvents), Application (Paints & Coatings, Printing Inks, Adhesives, Cleaning & Degreasing) and Region (APAC, North America, Europe) - Global Forecast to 2023" The aromatic solvents market is projected to reach USD 8.29 billion by 2023, at a CAGR of 2.66% from an estimated USD 7.27 billion in 2018. The growing demand for automobiles and increasing construction activities are projected to drive the demand for aromatic solvents across regions. Automobile and construction are major end users of paints & coatings, which in turn, are expected to drive the demand for aromatic solvents, globally

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The xylene solvents type segment of the aromatic solvents market is projected to register the highest CAGR during the forecast period, in terms of value

Based on type, the xylene solvents segment of the aromatic solvents market is projected to register the highest CAGR from 2018 to 2023, in terms of value and volume. This is due to its high solvency power and increasing capacity expansion of xylene, globally. In addition, its usage in various applications such as paints & coatings, adhesives, cleaning & degreasing, polymer manufacturing, printing inks, pharmaceuticals, and agricultural chemicals are expected to drive the market during the forecast period.

The printing inks application segment of the aromatic solvents market is projected to register the highest CAGR during the forecast period, in terms of value

Based on application, the printing inks segment is projected to register the highest CAGR between 2018 and 2023, in terms of value. The rapid expansion of the printing markets in countries, including India and the strong demand from key end users such as package printing, newsprint, and publishing are driving the demand for printing inks, which in turn, is expected to drive the demand for aromatic solvents. In addition, the increasing investments by major printing ink manufacturers in the Middle East region are projected to drive the market during the forecast period.

Don't miss out on business opportunities in Aromatic Solvents Market. Speak to Our Analyst and gain crucial industry insights that will help your business grow.

Browse in-depth TOC on "Aromatic Solvents Market”
87 - Market Data Tables
33 - Figures
110 - Pages

Asia Pacific aromatic solvents market is projected to register the highest CAGR during the forecast period, in terms of value

The aromatic solvents market has been studied for North America, Europe, Asia Pacific, South America, and the Middle East & Africa. The Asia Pacific region is estimated to account for the largest share of the aromatic solvents market and is also projected to register the highest CAGR during the forecast period, in terms of value. The growth of the aromatic solvents market in the region is attributed to the increasing industrialization and rising demand for aromatic solvents from the end-use industries. In addition, the availability of cheaper raw materials in the region and the absence of stringent regulations regarding the use of aromatic solvents is expected to drive the market.

The key players in the aromatic solvents market include China Petroleum and Chemical Corporation (China), Royal Dutch Shell Plc (Netherlands), ExxonMobil Corporation (US), LyondellBasell Industries Holdings B.V. (Netherlands), BASF SE (Germany), SK Global Chemical Co., Ltd. (South Korea), China National Petroleum Corporation (China), Reliance Industries Limited (India), Chinese Petroleum Corporation (Taiwan), and Total S.A. (France).

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About MarketsandMarkets™

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Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


Mr. Shelly Singh


Source: EmailWire.Com

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