New York, NY -- (SBWIRE) -- 04/15/2021 -- The Global Toluene market is forecast to reach USD 39.85 Billion by 2027, according to a new report by Reports and Data. Toluene is also known as toluol, is a colorless, aromatic hydrocarbon. It is a water-insoluble liquid with a smell similar to paint thinners. This organic compound is a mono-substituted benzene derivative comprising of a CH3 group attached to the phenyl group. This colorless organic compound's IUPAC systematic name is methylbenzene. The compound occurs as a byproduct in the production of gasoline by an ethylene cracker or catalytic reformer and naturally at low levels in crude oil.

In regards to region, North America can be seen to occupy a significant share of the market. The market share occupied by the region is resultant of expanding automotive sector, associated elevating demand for consumer goods, and the rising number of construction activities which are supporting the growth of the market in this region.

The chief players involved in the Toluene Market:

Covestro AG, Exxon Mobil Corporation, SK Innovation Co., Ltd, BP PLC, BASF SE, SK Innovation Co., Ltd, China National Petroleum Corporation, Royal Dutch Shell PLC, CPC Corporation and Formosa Chemicals & Fibre Corporation.

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Objectives of the study:

Our panel of expert analysts specializing in the value chain has conducted an exhaustive, industry-wide study to offer readers accurate insights into the future of the Toluene market and give key market players authentic information derived via both primary and secondary sources of data collection. Additionally, the report also comprises of inputs from our consultants, which can help companies make the most of the available market opportunities. It also offers a detailed breakdown of the sales of Toluene and the factors that could potentially influence the growth of the industry. The information provided in this report will be able to help readers capitalize on the available growth prospects.

For the purpose of this report, Reports and Data have segmented the global Toluene market according to Derivatives, End-user, Application, and Region:

Derivatives Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)

Benzene and Xylene
Toluene Diisocynate [TDI]
Gasoline
Others

End-User Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)

Construction
Oil & gas
Healthcare
Packaging
Automotive
Others

Application Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2027)

Fuel additives
Paints & coatings
Heating oil
Cleaning Agent
Foams
Polymer production
Others

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Further key findings from the report suggest:

The Toluene market held a market share of USD 27.10 Billion in the year 2018 that is forecasted to grow at a rate of 4.3% during the forecast period.

In context to Derivatives, the Toluene Diisocynate [TDI] segment is projected to witness the fastest growth rate of 5.2% during the forecast period, which is expected to hold, 16.2% of the market by 2027. The growth rate witnessed by the Toluene Diisocynate [TDI] segment is attributed to the rising demand for PU foam for insulating applications in construction, automotive sectors, wherein TDI forms an integral aspect in manufacturing these foams.

In context to End-user, the Oil & gas segment held the largest market share of more than 30.0% in 2018, with a growth rate of 4.4% during the forecast period. The market dominance of the Oil & gas segment is attributed to the fact that this organic compound is a natural substance of crude oil & gasoline, which results in its elevated use in this industry. Furthermore, its use in enhancing the quality of petrol also contributes to the segment's occupied market share…Continued

Table of Content:

Chapter 1. Market Synopsis

1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technology

Chapter 2. Executive Summary

2.1. Summary Snapshot, 2018-2027

Chapter 3. Indicative Metrics

Chapter 4. Toluene Market Segmentation & Impact Analysis

4.1. Toluene Market Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market driver's analysis
4.2.2.1. The rising demand for toluene among end-users

Continued….

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