GLOBAL TOLUENE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Global toluene market is estimated to be valued at USD 28.12 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031. Toluene is an aromatic hydrocarbon that is colorless, sweet-smelling, and volatile. It is a clear liquid with a distinct smell. Toluene is found naturally in crude oil and is known by several other names such as toluol, methylbenzene, and phenylmethane. Toluene is insoluble in water but soluble in organic solvents. It evaporates quickly at room temperature that provides it a wide range of industrial applications. Some of the major end uses of toluene include solvents, fuel additives, polyurethane resins and coatings, pharmaceutical diluents, and as an intermediate in synthesizing benzaldehyde, benzoic acid, and benzoate esters. Due to its growing demand from various end-use industries, the global toluene market is poised to witness significant growth during the forecast period.

 Market Dynamics:

Global toluene market is estimated to witness growth at a significant CAGR during the forecast period, owing to factors such as increasing demand from end-use industries such as building and construction, automotive, and consumer products. Growing infrastructure development and construction activities worldwide are expected to boost demand for solvents, adhesives, and paints and coatings, which in turn will positively influence the toluene market. Rising vehicle production and sales are boosting the need for automobile components and parts manufacturing, which utilizes toluene as a raw material and solvent. However, factors such as strict environmental regulations regarding VOC emissions and availability of alternative products are expected to hamper market growth. The development of bio-based and hybrid technologies to produce toluene in a sustainable manner are likely to present new opportunities for players operating in the global toluene market in the near future.

 Key features of the study:

• This report provides in-depth analysis of the global toluene market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global toluene market based on the following parameters company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include BASF SE, Braskem SA, Chevron Phillips Chemical Company LLC, China Petroleum & Chemical Corporation (Sinopec), China National Petroleum Corporation, Covestro AG, CPC Corporation, Exxon Mobil Corporation, Formosa Chemicals & Fibre Corporation, INEOS, Lyondellbasell Industries NV, Mitsui Chemicals Inc., Mitsubishi Chemical Corporation, Royal Dutch Shell PLC, SABIC, SK Innovation Co. Ltd, Total SA, Shiv Chemicals, Pure Chemicals Co, and Akshar international
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• Global toluene market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global toluene market

Detailed Segmentation

• By Derivative Type:
• • Benzene & Xylene
  • Toluene Diisocynates
  • Gasoline Additives
  • Others
• By Application:
• • Drugs
  • Blending
  • Cosmetic Nail Products
  • Others
• By Production Process:
• • Reformate Processes
  • Pygas Processes
  • Coke/coal Processes
  • Styrene Processes
• By Region:
• • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa
• Company Profiles:
• • BASF SE
  • Braskem SA
  • Chevron Phillips Chemical Company LLC
  • China Petroleum & Chemical Corporation (Sinopec)
  • China National Petroleum Corporation
  • Covestro AG
  • CPC Corporation
  • Exxon Mobil Corporation
  • Formosa Chemicals & Fibre Corporation
  • INEOS
  • Lyondellbasell Industries NV
  • Mitsui Chemicals Inc.
  • Mitsubishi Chemical Corporation
  • Royal Dutch Shell PLC
  • SABIC
  • SK Innovation Co. Ltd
  • Total SA
  • Shiv Chemicals
  • Pure Chemicals Co
  • Akshar international