Aromatic Solvents Market Size, Share & Forecast | Global Report 2025
The Global Aromatic Solvents Market reached USD 5.1 billion in 2022 and is expected to reach USD 6.2 billion by 2031, exhibiting a CAGR of 2.4% during the forecast period (2024-2031).
The Aromatic Solvents market report provides in-depth insights and analysis on key market trends, growth opportunities, and emerging challenges. With a commitment to delivering actionable intelligence, DataM Intelligence empowers businesses to make informed decisions and stay ahead of the competition. Leveraging a combination of qualitative and quantitative research methods, the company offers comprehensive reports that help clients navigate complex market landscapes, drive strategic growth, and seize new opportunities in an ever-evolving global market.
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The Aromatic Solvents Market is driven by their widespread use in industries such as paints & coatings, adhesives, pharmaceuticals, and cleaning agents due to their excellent solvency properties and ability to dissolve a wide range of substances. Common aromatic solvents like toluene, xylene, and benzene are integral in chemical manufacturing, oil extraction, and laboratory applications. Market growth is fueled by the increasing demand for industrial applications, the rise in paint and coating formulations, and the growing need for specialty chemicals. Additionally, regulatory changes focusing on environmentally friendly alternatives and innovations in bio-based aromatic solvents are shaping the market's evolution.
Forecast Growth Projected:
The Global Aromatic Solvents Market is anticipated to rise at a considerable rate during the forecast period, between 2024 and 2031. In 2023, the market is growing at a steady rate, and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon.
List of the Key Players in the Aromatic Solvents Market:
Royal Dutch Shell Plc, SK Chemical Co., Ltd, Exxon Mobil Corporation, Celanese Corporation, Eastman Chemical Company, LyondellBasell, Chevron Phillips Chemical Company, BASF SE, Total S.A. and Pon Pure Chemicals.
Industry Development:
On April 25, 2022, Solvay introduced Rhodiasolv IRIS, a new-generation solvent with significant eco-friendly characteristics. While previously produced in China, production will now begin in 2023 at Solvay's facility in Melle, France.
On February 25, 2021, Hengyi Industries utilized Honeywell UOP's innovative reforming and aromatics technology at its integrated petrochemical facility in Pulau Muara Besar, Brunei. The plant is set to process 200,000 barrels per day. This investment is part of a larger trend driven by the rising demand for paraxylene in Asia, encouraging more investments in petrochemical conversion technologies.
Research Methodology
Our research methodology combines both qualitative and quantitative approaches to provide you with a thorough market analysis. We begin by gathering data from trusted industry reports and databases (secondary research), followed by primary research through surveys and interviews with key experts. We then apply advanced statistical tools to analyze the data, uncover trends, and assess market dynamics. Additionally, we use market segmentation and Porter's Five Forces analysis to evaluate competition. This approach ensures that the insights we provide are reliable, actionable, and tailored to support your decision-making process.
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Segment Covered in the Aromatic Solvents Market:
By Type: Toluene Solvents, Xylene Solvents, Ethylbenzene Solvents.
By Application: Paints & Coatings, Printing Inks, Adhesives, Transportation, Cleaning & Degreasing.
This Report Covers:
✔ Go-to-market Strategy.
✔ Neutral perspective on the market performance.
✔Development trends, competitive landscape analysis, supply side analysis, demand side analysis, year-on-year growth, competitive benchmarking, vendor identification, Market Access, and other significant analysis, as well as development status.
✔Customized regional/country reports as per request and country level analysis.
✔ Potential & niche segments and regions exhibiting promising growth covered.
✔ Analysis of Market Size (historical and forecast), Total Addressable Market (TAM), Serviceable Available Market (SAM), Serviceable Obtainable Market (SOM), Market Growth, Technological Trends, Market Share, Market Dynamics, Competitive Landscape and Major Players (Innovators, Start-ups, Laggard, and Pioneer).
Regional Analysis for Aromatic Solvents Market:
⇥ North America (U.S., Canada, Mexico)
⇥ Europe (U.K., Italy, Germany, Russia, France, Spain, The Netherlands and Rest of Europe)
⇥ Asia-Pacific (India, Japan, China, South Korea, Australia, Indonesia Rest of Asia Pacific)
⇥ South America (Colombia, Brazil, Argentina, Rest of South America)
⇥ Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
Benefits of the Report:
➡ A descriptive analysis of demand-supply gap, market size estimation, SWOT analysis, PESTEL Analysis and forecast in the global market.
➡ Top-down and bottom-up approach for regional analysis
➡ Porter's five forces model gives an in-depth analysis of buyers and suppliers, threats of new entrants & substitutes and competition amongst the key market players.
➡ By understanding the value chain analysis, the stakeholders can get a clear and detailed picture of this Market
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