New York, NY -- (SBWIRE) -- 03/18/2021 -- The global aromatics market is forecast to reach USD 323.88 Billion by 2027, according to a new report by Reports and Data. Aromatics are those hydrocarbons that consists of hydrogen and carbon. They are formed from crude oil and in small quantities from coal. The most significant aromatics are toluene, benzene, and xylene. Aromatics are used in a wide range of consumer product as a starting material. They are durable, comfortable, lightweight, and safe in design.

The rising demand from the end-use industries is a major factor driving the growth of the global aromatics market. The rise in the demand for energy has amplified the oil & gas sector's performance, which in turn is adding to the growth of the market due to its applications as a corrosion inhibitor in the oil & gas sector. Owing to the evolving industrialization in the developing countries, it is expected that the aromatic market will receive a push in the future.

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Further key findings from the report suggest

Styrene is a liquid hydrocarbon that is important mainly for its tendency to undergo polymerization. Styrene is produced from industrially produced or naturally extracted ethylbenzene, which is dehydrogenated in the presence of a catalyst to produce styrene. It is a key chemical ingredient in the production of polymers and synthetic rubbers.

An aromatic solvent comprises of an aromatic hydrocarbon such as toluene, xylene, or naptha. These solvents are used primarily as diluents and solvents in several industrial fields. They are commonly used in adhesives, paints, varnishes, and as chemical intermediates.

Aromatic solvents also finds its application as corrosion inhibitors in the oil and gas industry. These solvents are mostly generated through the distillation of crude petroleum stock in the oil refining industry.

The increased application of aromatics in paints and coatings are also propelling market growth. The paints and coatings end-users held the largest market share. Some of the common aromatic hydrocarbon solvents used in the industry are ethylbenzene, benzene, toluene, mixed xylenes (BTEX), and high flash aromatic naphtha.

The major demand for the market product is from Asia as most of the derivative units, such as phenol, styrene, gasoline, and PET, are lined up in that region. The automotive sectors and construction sector are emerging as a major driving sector for the region, which in turn is propelling market demand.

Based on the regions, the report covers the following regions:

North America (U.S.A., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia-Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
The Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Competitive Terrain:

The global Aromatics market has a consolidated presence of a large number of companies that have been performing consistently to achieve optimum market growth. The report comprehensively discusses these companies' current market standing, past performances, demand & supply graphs, sales network, production & consumption patterns, and distribution channels. The report thus points out the effective business approaches undertaken by these market players to build on their market footprint.

The leading companies operating across the global Aromatics market are listed below:

Exxon Mobile Corporation, SABIC, Shell Chemicals, Reliance Industries Limited, Dow, BP PLC, Canada Colors and Chemicals Limited, LyondellBasell, HCS Group GmbH, and Honeywell International Inc. among others.

Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

Benzene

Toluene

P-Xylene

Toluene Diisocyanate and Methylenediphenyl Diisocyanate

Cumene/Phenol

Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

Solvent

Additive

End-Use Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)

Paint and Coating

Chemicals

Adhesives

Pharmaceuticals

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Radical Features of the Aromatics Market Report:

Valuable insights into the Aromatics market to impart an in-depth understanding of the business verticle

An 8-year forecast estimation along with an analysis of key elements of the market

Technological advancements, regulatory framework, and recent developments covered in the report

Growth analysis and projections until 2027

Statistical analysis of the key players operating in the Aromatics industry

Table Of Contents:

Chapter 1. Market Synopsis

    1.1. Market Definition

    1.2. Research Scope & Premise

    1.3. Methodology

    1.4. Market Estimation Technique

Chapter 2. Executive Summary

    2.1. Summary Snapshot, 2018-2027

Chapter 3. Indicative Metrics

Chapter 4. Aromatics Market Segmentation & Impact Analysis

    4.1. Aromatics Market Material Segmentation Analysis

    4.2. Industrial Outlook

          4.2.1. Market indicators analysis

          4.2.2. Market drivers analysis

                   4.2.2.1. Increasing demand from paints and coatings industry

                   4.2.2.2. Growing application in automotive sector

          4.2.3. Market restraints analysis

                  4.2.3.1. Toxic effects of aromatics hydrocarbons

    4.3. Technological Insights

    4.4. Regulatory Framework

    4.5. ETOP Analysis

    4.6. Porter's Five Forces Analysis

    4.7. Competitive Metric Space Analysis

    4.8. Price trend Analysis

Chapter 5. Aromatics Market, By Type Insights & Trends

    5.1. Type Dynamics & Market Share, 2019 & 2027

    5.2. Benzene

           5.2.1. Market estimates and forecast, 2016 – 2027 (USD Billion) (Kilo Tons)

           5.2.2. Market estimates and forecast, By Region, 2016 – 2027 (USD Billion) (Kilo Tons)

    5.3. Toluene

           5.3.1. Market estimates and forecast, 2016 – 2027 (USD Billion) (Kilo Tons)

           5.3.2. Market estimates and forecast, By Region, 2016 – 2027 (USD Billion) (Kilo Tons)

    5.4. P-Xylene

           5.4.1. Market estimates and forecast, 2016 – 2027 (USD Billion) (Kilo Tons)

           5.4.2. Market estimates and forecast, By Region, 2016 – 2027 (USD Billion) (Kilo Tons)

    5.5. Cumene/Phenol

           5.5.1. Market estimates and forecast, 2016 – 2027 (USD Billion) (Kilo Tons)

           5.5.2. Market estimates and forecast, By Region, 2016 – 2027 (USD Billion) (Kilo Tons)

    5.6. Styrene

          5.6.1. Market estimates and forecast, 2016 – 2027 (USD Billion) (Kilo Tons)

          5.6.2. Market estimates and forecast, By Region, 2016 – 2027 (USD Billion) (Kilo Tons)

Continued…

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