DUBLIN, Jan 23, 2017 /PRNewswire/ --
Research and Markets has announced the addition of the
"Toluene Market - Global Forecast to 2021" report to their
offering.
The toluene market is projected to reach USD 23.41 Billion by 2021, at a CAGR of 6.3% from
2016 to 2021
The market is expected to be driven by the growing end-user base
of toluene and its derivatives in various industries such as,
building & construction, automotive, oil & gas, and
consumer appliances, among others. The growing petrochemical
industry in the Asia-Pacific
region countries such as India,
Taiwan, and Thailand has also opened new markets for
toluene.
The toluene market is segmented by application and derivative;
and region. The toluene market can be classified into application
and derivative segments such as, benzene and xylene; solvents;
gasoline additives; TDI; and others such as, trinitrotoluene,
benzoic acid, and benzaldehyde. The benzene and xylene segment is
projected to be the largest market of toluene due to the growing
demand for its derivatives such as, Polystyrene (PS) and
Polyethylene Terephthalate (PET) in various applications. This
trend is projected to continue due to the increasing automobile and
consumer appliances industry in the Asia-Pacific, and Middle Eastern & African
regions.
The Asia-Pacific region, with
its growing economies and rapidly expanding commercial and
industrial bases, is projected to lead the toluene market from 2016
to 2021, both, in terms of value and volume. The toluene market in
Europe and North America is consolidated, whereas the
market in the Asia-Pacific region
has a fragmented structure, where China, Japan,
India, and South Korea are the leading players.
The TDI segment is expected to be the fastest growing market for
toluene during the forecast period. It is majorly used in the
production of PU foams, which are widely used in industries such
as, oil & gas, building & construction, and automotive for
insulating applications. Rising energy costs and greenhouse gas
emissions have also prompted companies to improve energy efficiency
in households and industrial buildings, which is leading to the
growing use of PU foams as insulators in the building &
construction industry. PU is also used in automobiles due to its
light weight, which enables lowering fuel emissions. These unique
characteristics of PU foams are expected to drive its demand in the
automotive industry, which, in turn, drive the market for TDI,
which is a major raw material for the production of PU.
Market Dynamics
Drivers
- Growing End User Base Of Toluene
- Growing Petrochemical (Aromatics) Industry In Asian
Countries
Restraints
- Shifting Trends In Oil & Gas And Petrochemical (Aromatics)
Industry
- Limitations In Toluene'S Sources
- Increasing Demand Of Diesel Against Gasoline
- Discovery Of Shale Gas
Opportunities
- Extraction Of Aromatics From Shale Oil Or Tight Oil
Companies Mentioned
- Basf SE
- Borsodchem
- Bp Plc
- Braskem SA
- Chevron Phillips Chemical Company Llc
- China National Petroleum Corporation
- China Petroleum & Chemical Corporation
- Citgo Petroleum Corporation
- Covestro AG
- Cpc Corporation
- Exxon Mobil Corporation
- Flint Hill Resources, LP
- Formosa Chemicals & Fibre Corporation
- Gs Caltex Corporation
- Husky Energy Inc.
- Indian Oil Corporation Limited
- Lyondellbasell Industries Nv
- Marathon Petroleum Corp.
- Mitsubishi Chemical Corporation
- Mitsui Chemicals, Inc.
- Nova Chemicals Corporation
- Oci Company Ltd.
- Other Key Market Players
- Pemex
- Reliance Industries Limited
- Royal Dutch Shell Plc
- Sk Innovation Co., Ltd
- The Dow Chemical Company
- Tosoh Corporation
- Total Sa
- Valero Energy Corporation
- Vencorex
For more information about this report visit
http://www.researchandmarkets.com/research/46twhz/toluene_market
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