Toluene Market Strong Growth by 2024 | Key Players: Exxon Mobil Corporation, SK Group Etc

Global Toluene Market Research Report and Forecast 2024 Report Edition: 2019 © 2019 IMARC All Rights Reserved

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Report Description Global Toluene Market Overview:

According to the latest report by IMARC Group, titled “ Toluene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024�, the global toluene market reached a value of US$ 22.5 Billion in 2018. Toluene is a water-insoluble, colorless and organic chemical compound. It is a minor constituent obtained during the production of gasoline and crude oil. Toluene can also be produced through natural sources such as tolu tree and as a by-product of styrene production. Owing to its physical and chemical properties, toluene is used in the synthesis of saccharin, trinitrotoluene (TNT) and benzoic acid. It is also utilized in the manufacturing of polymers used for making plastic soda bottles, nylon and polyurethanes.

Toluene Market Trends Toluene currently plays a vital role across several end-use industries, such as building and construction, printing, rubber, oil and gas, resins, leather and pharmaceuticals, which is one of the major factors driving the growth of the toluene market. Moreover, there has been a rise in the usage of toluene in gasoline mixtures in the form of an octane booster for controlling the energy content of gasoline. Apart from this, an increase in the utilization of aromatics to manufacture nail paints, agrochemicals and elastomers in the petrochemical industry is positively influencing the market growth.

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157.3 146.7 152.0 141.4 136.1 125.5 130.8

160 140 120 100 80 60 40 20 0

120.2 2011

2012

2013

2014

2015

2016

2017

2018

In Billion US$

in Billion US$

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180 160 140 120 100 80 60 40 20 0

160.0 2019

175.9

181.2

186.5

165.3

170.6

2020

2021

2022

2023

2024

However, toluene has intoxicating effects due to which its application has been hampered in several industries. Despite this hindrance, the market value is expected to reach US$ 31.1 Billion by 2024, at a projected CAGR of 5.6% during 2019-2024.

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Further, the manufacturers of toluene are adopting new technologies like Celanese's AO-plus and BP's Cativa which help in lowering the operating cost, enhancing production efficiency and increasing capacity.

Key Market Segmentation: Market Segmentation by Technology • • • •

Reformation Process Pigs Process Coke/Coal Process Styrene Process

On the basis of technology, the market has been segmented into reformation process, pygas process, coke/coal process and styrene process. Amongst these, the reformation process exhibits a clear dominance in the market.

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Market Segmentation by Application • • • • • • • •

Gasoline STDP/TPX Solvents Trans Alkylation (TA) Hydrodealkylation Toluene Diisocyanate (TDI) Toluene Disproportionation (TDP) Others

Based on application, the market has been segregated into gasoline, STDP/TPX, solvents, trans alkylation (TA), hydrodealkylation, toluene diisocyanate (TDI) and toluene disproportionation (TDP).

Currently, gasoline represents the largest segment owing to the increasing usage of toluene in gasoline as an additive.

Market Segmentation by Region •

Asia Pacific

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Report Description • • • •

Europe North America Middle East and Africa Latin America

On a geographical front, Asia Pacific holds the majority of the total global market. This is due to a rise in the demand for toluene in construction activities across various nations in the region. Asia Pacific is followed by North America, Europe, Middle East and Africa, and Latin America.

Competitive Landscape: The competitive landscape of the market has also been examined with some of the key players.

• • • • •

Exxon Mobil Corporation SK Group British Petroleum Versalis Compañia Española De Petroleos Sau

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