Aromatic Solvents Market Is Expected to Reach over Us$ 6.50 Bn by 2022

Aromatic Solvents Market Is Expected To Reach Over US$ 6.50 Bn By 2022

According to a new market report published by Credence Research “Aromatic Solvents Market - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 - 2021,” the aromatic solvents market was valued is expected to reach over US$ 6.50 Bn by 2022, expanding at a CAGR of more than 4.0% from 2016 to 2022.

Browse the full Aromatic Solvents (Toluene, Xylene, Benzene and Others) Market for Pharmaceuticals, Oilfield Chemicals, Paints & Coatings, Adhesives & Sealants, Automotive and Other Applications- Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2021 report at http://www.credenceresearch.com/report/aromatic-solvents-market

Market Insights

Solvent is a substance which is dissolved in any other solute which can be solid, gas or liquid. Solvent is usually a liquid but can also be a solid or gas. Solvents are generally used to dissolve, carry or suspend particles for forming solution. Aromatic solvents are organic chemicals which are made from fractional distillation of petroleum. In addition, they are also produced through other methods such as steam cracking, catalytic refining and coal carbonization among others. Among these, catalytic refining and steam cracking methods are preferably used on a large scale in the oil & gas industry.

Based on products, aromatic solvents are segmented into toluene, xylene, benzene and others. Toluene accounted for the major share of global aromatic solvents market and is expected to retain its position in the near future. It is also accounted to be the fastest growing product segment. Toluene is expected to experience high demand in the market as it is widely used in the paints & coatings industry. It also has application in the adhesive and sealants industry. Therefore, high demand from the paints & coatings and adhesive & sealants industry is anticipated to boost growth of global aromatic solvents market. Other products such...