The Global Toluene Market is driven by rising demand from construction industries
Geographic expansion into high growth regions is another important growth strategy adopted by the top players. Emerging economies in Asia Pacific region such as India and Southeast Asian countries are likely to witness significant industrial and infrastructural developments over the coming years. This makes Asia Pacific a highly lucrative market for Toluene.
Growing construction activities across both developed and emerging nations are expected to drive the demand for Global Toluene Market Size over the forecast period. Rapid urbanization coupled with growing population is necessitating more residential and commercial buildings which is augmenting the construction industry. This in turn, will boost the consumption of paints, coatings, adhesives, and other materials wherein Toluene is used as a solvent and raw material.
One of the key drivers for the Global Toluene Market is growth of the automotive industry. Toluene is extensively used in paints, coatings, adhesives, lacquers, and enamels that are used during automotive manufacturing and repairs. Rising vehicle production globally coupled with increasing need for better aesthetics is positively impacting the demand.
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