GLOBAL TOLUENE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)
The toluene market faces several challenges. Strict environmental regulations around the use and emissions of volatile organic compounds present obstacles to market growth. Substitutes such as xylene are increasingly displacing toluene in some applications like solvents. Oversupply conditions have led to reduced pricing power for producers. Fluctuating petrol feedstock prices also introduce uncertainty. With global economic growth projected to slow, demand may soften in major end-use industries for toluene like construction and automotive.
Market Opportunities: Increasing population and prosperity across emerging markets
With population and prosperity increasing across emerging markets, demand for products like organic chemicals, coatings, and petrochemicals is expected to rise significantly. New applications continue to be developed as well, such as for gasoline additives. Consolidation among producers could allow greater efficiency gains and competitive strength.
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