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Toluene Market by Derivative Type, Production Process, Application - Global Opportunity Analysis and Industry Forecast, 2017-2023

  • ID: 4612651
  • Report
  • Region: Global
  • 110 pages
  • Allied Analytics LLP
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The global toluene market size is expected to reach $23,393 million by 2023 from $16,597 million in 2016, registering a CAGR of 5.0% from 2017 to 2023. Toluene is a clear water insoluble aromatic hydrocarbon solvent with molecular formula of C7H8. It possesses aromatic, benzene-like smell, and is a highly volatile flammable liquid with a flash point of 4°C. It is produced from petroleum and coal tar, and is used as a solvent in the manufacturing of other organic chemicals, such as benzene, xylene, and toluene diisocyanate. It is used as a solvent in paints, thinners, adhesives, and inks. Cosmetic and personal care products such as nail paints and removers containing toluene are applied to the hard, impenetrable surface of the nail where a smooth and glossy film is quickly formed upon evaporation of the solvents.

The toluene market has grown considerably in the recent years in developing nations, such as China, India, and Japan, owing to increase in investments in chemicals, petrochemicals, and oil & gas industries. Moreover, crude oil & natural gas contains high impurities and corrosive components, such as hydrogen sulfide, carbon dioxide, and free water, which cause deterioration of the inner walls of wells and pipelines. Continual oil & gas extraction could lead to corrosion of the internal surface of pipelines. Aromatic solvents (benzene, toluene, ethylbenzene, and mixed xylenes (BTEX)) are used as corrosion inhibitors for internal protection of pipes as well as perform fractional distillation in the oil & gas industries. Therefore, rise in demand for toluene as corrosion inhibitor in the oil & gas industry acts as a driving factor of the market.

Benzene toluene xylene (BTX) is a synthetic source of volatile organic compounds (VOCs). VOCs have compounding, long-term adverse effects on health; thus, is strictly regulated by various legislations. Moreover, stringent regulations about VOCs is expected to hamper the adoption of aromatic chemicals.

The global toluene market is segmented based on derivative type, application, material for construction, and geography. Based on derivative type, it is classified into benzene & xylene, toluene diisocyanates, solvents, gasoline additives, and others. The benzene & xylene type segment registered significant growth during 2016, and is expected to grow during the forecast period. The bending application segment is estimated to grow at a significant CAGR of 5.2%. By technology, it is segmented into reformate process, pygas process, coke/coal process, and styrene process. Geographically, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA. Asia-Pacific accounted for nearly half of the share of the total revenue in 2016, followed by North America and Europe.

Key market players have invested in R&D activities to develop advanced products to cater to the demand of end users. The key players in the toluene market include:

ExxonMobil Chemical
Sinopec
Shell
Reliance Industries
ConocoPhillips
Valero Energy
BASF
BP Chemicals
China National Petroleum
Mitsui Chemicals

KEY BENEFITS FOR STAKEHOLDERS

The report provides an extensive analysis of the current and emerging trends, estimations, and opportunities during the forecast period in the toluene market.
Comprehensive analysis of factors that drive and restrict the growth of the market is provided.
Comprehensive regional analysis of the market based on primary and secondary sources is provided.
Extensive analysis of the market is conducted by following product benchmarking, positioning, and monitoring the top competitors within the global market.
The report provides extensive qualitative insights on the significant segments or regions and key insights on strategic analysis of various companies and value chain analysis of the market.

Toluene Market Key Segmentation:

By Derivative Type

Benzene & Xylene
Toluene Diisocyanates
Solvents
Gasoline Additives
Others (Benzaldehyde and Benzoic Acid)

By Production Process

Reformate Process
Pygas Process
Coke/Coal Process
Styrene Process

By Application

Drugs
Dyes
Blending
Cosmetic Nail Products
Others (TNT, Pesticides, and Fertilizers)

By Geography

North America
U.S.
Canada
Mexico
Europe
France
Germany
UK
Spain
Italy
Rest of Europe
Asia-Pacific
India
China
Japan
Australia
Korea
Rest of Asia-Pacific
LAMEA
Brazil
KSA
South Africa
Rest of LAMEA

Other players in the value chain (profiles not included in the report) are: -

Koch Industries
JX Nippon Oil and Energy Corporation
Chevron Phillips
Nova Chemicals
Sherwin-Williams
Total Petrochemicals
Lyondell Basel
Covestro
Formosa Plastics

*The above list of companies is not profiled in the report, but can be added based on client interest.
Note: Product cover images may vary from those shown
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CHAPTER 1. INTRODUCTION
1.1. REPORT DESCRIPTION
1.2. KEY BENEFITS
1.3. KEY MARKET SEGMENT
1.4. RESEARCH METHODOLOGY
1.4.1. Secondary research
1.4.2. Primary research
1.4.3. Analyst tool & model

CHAPTER 2. EXECUTIVE SUMMARY
2.1. MARKET SNAPSHOT
2.2. CXO PERSPECTIVES

CHAPTER 3. MARKET OVERVIEW
3.1. MARKET DEFINITION AND SCOPE
3.2. KEY FINDINGS
3.2.1. Top investment pockets
3.2.2. Top winning strategies
3.3. PORTERS FIVE FORCES ANALYSIS
3.4. MARKET DYNAMICS
3.4.1. Drivers
3.4.1.1. Growing demand for toluene among application
3.4.1.2. Growth of dyes industry among Asia-Pacific
3.4.2. Restraints
3.4.2.1. Discovery of shale gas in North American markets
3.4.2.2. Limitations in sourcing of toluene
3.4.3. Opportunities
3.4.3.1. Production of toluene from shale gas
3.5. MARKET SHARE ANALYSIS, 2015

CHAPTER 4. TOLUENE MARKET, BY TYPE
4.1. INTRODUCTION
4.1.1. Market Size and Forecast
4.2. BENZENE AND XYLENE
4.2.1. Key Market trends, growth factors, and opportunities
4.2.2. Market Size and Forecast
4.3. TOLUENE DIISOCYNATE
4.3.1. Key Market Trends, Growth Factors, and Opportunities
4.3.2. Market Size and Forecast
4.4. SOLVENTS
4.4.1. Key Market Trends, Growth Factors, and Opportunities
4.4.2. Market Size and Forecast
4.5. GASOLINE
4.5.1. Key Market Trends, Growth Factors, and Opportunities
4.5.2. Market Size and Forecast
4.6. OTHERS (BENZALDEHYDE AND BENZOIC ACID)
4.6.1. Key Market Trends, Growth Factors, and Opportunities
4.6.2. Market Size and Forecast

CHAPTER 5. TOLUENE MARKET, BY APPLICATION
5.1. INTRODUCTION
5.1.1. Market Size and Forecast
5.2. DRUGS
5.2.1. Key Market Trends, Growth Factors, and Opportunities
5.2.2. Market Size and Forecast
5.3. DYES
5.3.1. Key Market Trends, Growth Factors, and Opportunities
5.3.2. Market Size and Forecast
5.4. BLENDING
5.4.1. Key Market Trends, Growth Factors, and Opportunities
5.4.2. Market Size and Forecast
5.5. COSMETIC NAIL PRODUCTS
5.5.1. Key Market Trends, Growth Factors, and Opportunities
5.5.2. Market Size and Forecast
5.6. OTHERS (TNT, PESTICIDES AND FERTLIZERS)
5.6.1. Key Market Trends, Growth Factors, and Opportunities
5.6.2. Market Size and Forecast

CHAPTER 6. TOLUENE MARKET, BY TECHNOLOGY
6.1. INTRODUCTION
6.1.1. Market Size and Forecast
6.2. REFORMATE PROCESS
6.2.1. Key Market Trends, Growth Factors, and Opportunities
6.2.2. Market Size and Forecast
6.3. PYGAS PROCESS
6.3.1. Key Market Trends, Growth Factors, and Opportunities
6.3.2. Market Size and Forecast
6.4. COKE/COAL PROCESS
6.4.1. Key Market Trends, Growth Factors, and Opportunities
6.4.2. Market Size and Forecast
6.5. STYRENE PROCESS
6.5.1. Key Market Trends, Growth Factors, and Opportunities
6.5.2. Market Size and Forecast

CHAPTER 7. TOLUENE MARKET, BY GEOGRAPHY
7.1. INTRODUCTION
7.1.1. Market Size and Forecast
7.2. NORTH AMERICA
7.2.1. Key Market Trends, Growth Factors, and Opportunities
7.2.2. Market Size and Forecast
7.2.3. U.S.
7.2.3.1. Market size and forecast, by type
7.2.4. Canada
7.2.4.1. Market size and forecast, by type
7.2.5. Mexico
7.2.5.1. Market size and forecast, by type
7.3. EUROPE
7.3.1. Key Market Trends, Growth Factors, and Opportunities
7.3.2. Market Size and Forecast
7.3.3. Germany
7.3.3.1. Market size and forecast, by type
7.3.4. France
7.3.4.1. Market size and forecast, by type
7.3.5. UK
7.3.5.1. Market size and forecast, by type
7.3.6. Spain
7.3.6.1. Market size and forecast, by type
7.3.7. Italy
7.3.7.1. Market size and forecast, by type
7.3.8. Rest of Europe
7.3.8.1. Market size and forecast, by type
7.4. ASIA-PACIFIC
7.4.1. Key Market Trends, Growth Factors, and Opportunities
7.4.2. Market Size and Forecast
7.4.3. India
7.4.3.1. Market size and forecast, by type
7.4.4. China
7.4.4.1. Market size and forecast, by type
7.4.5. Japan
7.4.5.1. Market size and forecast, by type
7.4.6. Australia
7.4.6.1. Market size and forecast, by type
7.4.7. Korea
7.4.7.1. Market size and forecast, by type
7.4.8. Rest of Asia-Pacific
7.4.8.1. Market size and forecast, by type
7.5. LAMEA
7.5.1. Key Market Trends, Growth Factors, and Opportunities
7.5.2. Market Size and Forecast
7.5.3. Brazil
7.5.3.1. Market size and forecast, by type
7.5.4. KSA
7.5.4.1. Market size and forecast, by type
7.5.5. South Africa
7.5.5.1. Market size and forecast, by type
7.5.6. Rest of LAMEA
7.5.6.1. Market size and forecast, by type

CHAPTER 8. COMPANY PROFILES
8.1. EXXON-MOBIL CHEMICAL
8.1.1. Company Overview
8.1.2. Company Snapshot
8.1.3. Operating Business Segments
8.1.4. Business Performance
8.1.5. Key Strategic Moves and Developments
8.2. SINOPEC
8.2.1. Company Overview
8.2.2. Company Snapshot
8.2.3. Operating Business Segments
8.2.4. Business Performance
8.2.5. Key Strategic Moves and Developments
8.3. SHELL
8.3.1. Company Overview
8.3.2. Company Snapshot
8.3.3. Operating Business Segments
8.3.4. Business Performance
8.3.5. Key Strategic Moves and Developments
8.4. RELIANCE INDUSTRIES
8.4.1. Company Overview
8.4.2. Company Snapshot
8.4.3. Operating Business Segments
8.4.4. Business Performance
8.4.5. Key Strategic Moves and Developments
8.5. CONOCOPHILLIPS
8.5.1. Company Overview
8.5.2. Company Snapshot
8.5.3. Operating Business Segments
8.5.4. Business Performance
8.5.5. Key Strategic Moves and Developments
8.6. VALERO ENERGY
8.6.1. Company Overview
8.6.2. Company Snapshot
8.6.3. Operating Business Segments
8.6.4. Business Performance
8.6.5. Key Strategic Moves and Developments
8.7. BASF
8.7.1. Company Overview
8.7.2. Company Snapshot
8.7.3. Operating Business Segments
8.7.4. Business Performance
8.7.5. Key Strategic Moves and Developments
8.8. BP CHEMICALS
8.8.1. Company Overview
8.8.2. Company Snapshot
8.8.3. Operating Business Segments
8.8.4. Business Performance
8.8.5. Key Strategic Moves and Developments
8.9. CHINA NATIONAL PETROLEUM
8.9.1. Company Overview
8.9.2. Company Snapshot
8.9.3. Operating Business Segments
8.9.4. Business Performance
8.9.5. Key Strategic Moves and Developments
8.10. MITSUI CHEMICALS
8.10.1. Company Overview
8.10.2. Company Snapshot
8.10.3. Operating Business Segments
8.10.4. Business Performance
8.10.5. Key Strategic Moves and Developments
Note: Product cover images may vary from those shown
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Toluene Market Report, states that the toluene market was valued $16,597 million in 2016, and is projected to reach $23,393 million by 2023, growing at a CAGR of 5.0% from 2017 to 2023. The benzene & xylene segment held more than half of the total market share in 2016.

Toluene is produced in the process of manufacturing saccharin, antiseptics, and paint thinners. It is also employed in making perfumes, antifreeze dyes, and medicine and is utilized to produce the polymers that create plastic and nylon. It is turally found in coal tar and is a byproduct of gasoline and coke. The primary sources of toluene are the industries that manufactures and use it in production. The industries that manufactures toluene and further use it in production are oil refiners, chemical industries, rubber manufacturers, pharmaceutical industries, metal degreasing, printing, manufacturers of paints, varnishes, and lacquers. In addition, toluene is extensively manufactured by the process of catalytic reforming and account for half of the global production volume. Furthermore, coke oven light oil (COLO) and steam cracking of phtha represents an opportunistic source for toluene from coal processing into coke.

Currently, the global toluene market witness numerous opportunities, owing to rapid increase in development of petrochemical industry in Asia-Pacific and LAMEA. Toluene has numerous commercial & industrial applications and is a solvent in paints, lacquers, thinners, glues, correction fluids, and il polish removers, and is used in the printing and leather tanning processes. Toluene is used as a fullerene indicator, and is a raw material for toluene diisocyate. It is used as a solvent in carbon notubes, such as fullerenes. Moreover, biological usage of toluene, such as in biochemistry experiments that includes breaking or disrupting red blood cells in order to extract hemoglobin acts as a factor that boost the market development.

The benzene & xylene segment, accounted for more than half share, in terms of volume, in 2016. Moreover, increase in demand for toluene and the polyester sector is expected to result in higher volumes of toluene being converted into mixed xylenes & para-xylene. However, decrease in demand for fossil fuels in industrialized tions and increase in trend toward the consumption of bio-based fuels, such as ethanol is expected to restrict the market growth to some extent.

Key findings of the Toluene Market:

In terms of value, the benzene & xylene derivative type is anticipated to show the highest growth rate of 5.2% during the alysis period.
Asia-Pacific is projected to maintain its lead throughout 2023, and is projected to grow at a CAGR of 5.3%, in terms of value.
The drugs segment occupied nearly half of the total market in 2016.
Germany occupied nearly one-third of the total Europe toluene market in 2016.
In terms of value, Japan is expected to grow at a CAGR of 4.3% from 2017 to 2023.

In 2016, Asia-Pacific accounted for more than half of the total toluene market, and are expected to continue this trend, due to increase in demand for toluene in petrochemical and oil & gas industries, specifically in Chi, India, Japan, Brazil, and other developing countries.

The major companies profiled in the report include ExxonMobil Chemical, Sinopec, Shell, Reliance Industries, ConocoPhillips, Valero Energy, BASF, BP Chemicals, Chi tiol Petroleum, and Mitsui Chemicals.
Note: Product cover images may vary from those shown
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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