New York, NY -- (SBWIRE) -- 02/19/2021 -- The Global Toluene market is forecast to reach USD 39.85 Billion by 2027, according to a new report by Reports and Data. Toluene is also known as toluol, is a colorless, aromatic hydrocarbon. It is a water-insoluble liquid with a smell similar to paint thinners. This organic compound is a mono-substituted benzene derivative comprising of a CH3 group attached to the phenyl group. This colorless organic compound's IUPAC systematic name is methylbenzene. The compound occurs as a byproduct in the production of gasoline by an ethylene cracker or catalytic reformer and naturally at low levels in crude oil. Toluol is also a byproduct of the production of coke from coal. The compound witnesses extensive application as a solvent and as an industrial feedstock. One major use is as a precursor to benzene and xylene. It is used as a solvent in contact cement, permanent markers, and paint thinner. It is also used as a recreational inhalant, which carries the risk of causing neurological damage. The nitration of the compound provides with mono-, di-, and trinitrotoluene, which are also extensively used. Thus, factors like the rising demand for toluene among end-users, a large number of derivatives, and expansion of the dyes industry in the Asia Pacific region are some of the factors propelling the market growth.

In regards to region, North America can be seen to occupy a significant share of the market. The market share occupied by the region is resultant of expanding automotive sector, associated elevating demand for consumer goods, and the rising number of construction activities which are supporting the growth of the market in this region.

Competitive Outlook:

Covestro AG, Exxon Mobil Corporation, SK Innovation Co., Ltd, BP PLC, BASF SE, SK Innovation Co., Ltd, China National Petroleum Corporation, Royal Dutch Shell PLC, CPC Corporation and Formosa Chemicals & Fibre Corporation.

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COVID-19 Impact Assessment:

The latest report sums up the major changes in the global business sector that took place as a repercussion of the COVID-19 outbreak. Having impacted the global Toluene market in an unfavorable manner, the pandemic has significantly disrupted the market dynamics and trends. The public health emergency adversely affected the global supply chains and resulted in acute volatility in product prices and demand. However, industry experts believe that the global Toluene market will regain traction in the post-COVID scenario. The report also offers a broad assessment of the pandemic's preliminary and future impacts on this lucrative market.

For the purpose of this report, the market has been segmented on the basis of type, applications, business model, components and regional analysis.

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

Benzene and Xylene
Toluene Diisocynate [TDI]
Gasoline
Others

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

Construction
Oil & gas
Healthcare
Packaging
Automotive
Others

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

Fuel additives
Paints & coatings
Heating oil
Cleaning Agent
Foams
Polymer production
Others

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Further key findings from the report suggest

The Toluene market held a market share of USD 27.10 Billion in the year 2018 that is forecasted to grow at a rate of 4.3% during the forecast period.

In context to Derivatives, the Toluene Diisocynate [TDI] segment is projected to witness the fastest growth rate of 5.2% during the forecast period, which is expected to hold, 16.2% of the market by 2027. The growth rate witnessed by the Toluene Diisocynate [TDI] segment is attributed to the rising demand for PU foam for insulating applications in construction, automotive sectors, wherein TDI forms an integral aspect in manufacturing these foams.

In context to End-user, the Oil & gas segment held the largest market share of more than 30.0% in 2018, with a growth rate of 4.4% during the forecast period. The market dominance of the Oil & gas segment is attributed to the fact that this organic compound is a natural substance of crude oil & gasoline, which results in its elevated use in this industry. Furthermore, its use in enhancing the quality of petrol also contributes to the segment's occupied market share….Continue
Table of Content:

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, 2016 – 2026

Chapter 3. Indicative Metrics

3.1. Macro Indicators
3.1.1. Global adoption of shopping complexes
3.1.2. Contribution of advanced technologies
3.1.3. Increasing demand for anti-theft solutions at retail markets

Chapter 4. Toluene Market Segmentation & Impact Analysis

4.1. Toluene Market Segmentation Analysis
4.2. Industrial Outlook
4.3. Regulatory Framework
4.4. Toluene Market Impact Analysis
4.4.1. Market driver analysis

Continue….

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