Global Aromatic Solvent market was valued US$ 7.27 Bn in 2019 and is anticipated to reach US$ XX Bn by 2026 at a CAGR of about XX % during a forecast period.
Global Aromatic Solvent market is segmented by raw material, by application and by region. Aromatic Solvent market is segmented into Benzene, Toluene, Xylene and Ethylbenzene solvent. Oilfield chemicals, pharmaceuticals, automotive, paints and coatings, and others are application segment of Aromatic Solvent market. Geographically into North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
An aromatic solvent consists of an aromatic hydrocarbon such as ethane, naphtha, toluene, xylene, or propane. The aromatic solvents are organic chemicals that dissolve the solid materials to form a solution that is homogenous. It is mainly produced by means of distillation of the crude petroleum stock in oil refining industry. Moreover, these aromatic solvents are used in the manufacturing of other intermediate chemicals such as cumene, phthalic anhydride, ethyl benzene, maleic anhydride, and naphthalene.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Toluene is used as a raw material for toluene diisocyanate, cement for polystyrene kits, and fullerene indicator and is also used in leather tanning and printing processes. 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 increasin