WiseGuyReports.Com Publish a New Market Research Report On –“ Aromatic Compounds Industry Global Production Analysis, Demand By Regions, Segments And Applications 2019-2021”.
Aromatic Compounds Market 2019
Speaking about Aromatic Compounds, these are also called aromatics or arenes. These are the chemical compounds which carry conjugated planar ring system along with the delocalized pi-electron cloud. The most common aromatics are Toluene and Benzene. These are primarily obtained from petroleum sources. The report says that during the forecast period, from 2018 to 2021, the global market for Aromatic Compounds will grow at around 5 percent of the Compound Annual Growth Rate. By the end of 2021, the market will cross USD 280 billion.
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Listed Key Players
China National Petroleum
JX Nippon Oil&Energy
These are used for a different purpose in various industries. For example, it is used as a primary solvent to remove grease or oil. In paint industry, these are used as an aromatic additive as well as thinner. Besides, it helps in lowering the engine knocking. As the demand for aromatic chemicals in different industries is now increasing, this has increased its production volume. These are extensively used in chemicals, paints, pharmaceuticals, coatings, and adhesives. The growth of this market is primarily driven by the increasing demand for paint and coatings.
As per the report, more than 50 percent of aromatic demand is received from this industry. On the other side, the growing construction industry is also triggering the demand for aromatics. As the population is rising, it will create a massive demand for commercial as well as residential infrastructure. All these factors are expected to trigger the growth of the global Aromatic Compounds Market. Besides, increasing demand for such compounds in gasoline industry, and increasing usage of aromatics in pharma industry are also driving the market.
Global Market Segmentation Analysis
The global Aromatic Compounds Market is segmented on the basis of compounds type, application, and regions. On the basis of type, it is segmented into Benzene, Xylenes, Toluene, and PAH. Based on the application, it is split into Organic Chemical Raw Material, Solvent, and Additive. The product type segment is expected to dominate by Toluene segment. Toluene is used to produce TDI- Toluene diisocyanate. TDI is extensively used to manufacture flexible PU foams. It has been observed that most manufacturers rely on flexible PU foams to make automotive seats, mattresses, upholstery and more. On the other side, organic chemical raw material segment will dominate the application segment.
Geographically Market Segmentation Analysis
Geographically, the global market for Aromatic Compounds is segmented into some key regions. They are Latin America, North America, Middle East & America (MEA), Europe, and Asia-Pacific. Furthermore, the report includes information related to the growth and opportunities for some major country-level markets. Those countries are South Africa, Mexico, the United States, Canada, Italy, Germany, China, the United Kingdom, Japan, Korea, India, Indonesia, Brazil, Russia, GCC Countries, and more. Among the regions, the Asia Pacific Aromatic Compounds market is expected to dominate the global market in the coming years. The regional market is greatly triggering by the chemical industry which is now going through considerable growth.
In September 2017, Sinopec signed an MOU- Memorandum of Understanding with SIBUR on the corporation of the Nitrile Rubber projects. After the agreement, both the companies jointly developed an NBR production unit. The production capacity of the new unit is 50,000 tons per year.
Sinopec signed a framework agreement with SIBUR to develop production for Hydrogenated Styrene- Butadiene Block Copolymer.
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Table of Contents – Major Key Points
1 Market Overview
2 Manufacturers Profiles
3 Global Aromatic Compounds Market Competition, by Manufacturer
4 Global Aromatic Compounds Market Analysis by Regions
5 North America Aromatic Compounds by Countries
6 Europe Aromatic Compounds by Countries
7 Asia-Pacific Aromatic Compounds by Countries
8 Latin America, Middle and Africa Aromatic Compounds by Countries
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