The global demand for Heavy Aromatic Solvents Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period 2022 - 2028.
Heavy Aromatic solvent is a complex combination of hydrocarbons. A heavy aromatic solvent contains an aromatic chemical, such as naphthalene, toluene, or xylene. Heavy aromatic solvents are used as solvents and diluents in various industrial applications. Toluene and other aromatic solvents are commonly used in paints, varnishes, adhesives, and as chemical intermediates. These solvents are typically generated in the oil refining industry by the distillation of crude petroleum stock. High purity and tailor-made solvents are critical; therefore, heavy aromatic solvents fulfil the highest requirements and ensure quality in agricultural applications, allowing for great crop yields while also providing the best possible environmental protection.
Market Dynamics
The increased demand from end-use industries is a primary driver driving the worldwide heavy aromatic solvents market's expansion. The increase in energy consumption has boosted the performance of the oil and gas industry, which is contributing to the market's growth owing to its usage as a corrosion inhibitor in the oil and gas sector. Because of the expanding industrialization in emerging nations, the heavy aromatic solvents market is likely to grow in the future. The use of heavy aromatic solvents in paints and coatings is becoming more popular and this is due to increased industry and urbanization. Because of its strong solvency power, the paint and coating industries have the largest industrial share. The increasing automobile sector in developing nations has boosted demand for heavy aromatic solvents.
The research report covers Porter’s Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry’s structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of heavy aromatic solvents. The growth and trends of heavy aromatic solvents industry provide a holistic approach to this study.
Market Segmentation
This section of the heavy aromatic solvents market report provides detailed data on the segments at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Type
- Low Naphthalen
- Extra Low Naphthalene
By Application
- Agriculture
- Construction
- Automotive
- Industrial
- Petrochemical
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Heavy Aromatic Solvents market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Heavy Aromatic Solvents Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the heavy aromatic solvents market include Exxon Chemical, Haltermann Carless, Redox, ORG CHEM, Nippon Chemical Texas Inc, Royal Dutch Shell, Total S.A., Chevron Phillips, BP, SK Global Chemical, Calumet, Idemitsu, Ganga Rasayanie, Gulf Chemicals and Industrial Oils, Jiangsu Hualun, Changshu Alliance Chemical, Arham Petrochem, Giant Aromatics. This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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