Dublin, Jan. 23, 2017 (GLOBE NEWSWIRE) -- Research and Markets has announced the addition of the "Toluene Market - Global Forecast to 2021" report to their offering.
The toluene market is projected to reach USD 23.41 billion by 2021 at a CAGR of 6.3%
The growing end-user base of toluene in end-use industries such as, automotive, building & construction, and oil & gas is expected to lead to the high growth of the toluene market. In addition, the growing petrochemical industry in the Asia-Pacific region also is further expected to drive the toluene market. The major restraints in the toluene market are the limitations in sourcing toluene, the increasing demand for diesel as against gasoline, and the discovery of shale gas.
Benzene and xylene are projected to lead the toluene market during the forecast period, both, in terms of value and volume. The most common derivatives of benzene and xylene are, Polyethylene Terephthalate (PET), Polystyrene (PS), and cumene, among others. The growing applications of PET and PS are expected to support the benzene and xylene markets, which in turn is expected to drive the toluene market.
North America is the fastest growing market for toluene. Growth in the North American market is led by the rising demand from the automotive, building & construction, industrial, and gasoline consumption, due to the increasing quality & performance standards of the end-products in which toluene is used as a solvent or additive. These factors along with the discovery of shale oil is also driving the toluene market.
Market Dynamics
Drivers
- Growing End User Base Of Toluene
- Growing Petrochemical (Aromatics) Industry In Asian Countries
Restraints
- Shifting Trends In Oil & Gas And Petrochemical (Aromatics) Industry
- Limitations In Toluene'S Sources
- Increasing Demand Of Diesel Against Gasoline
- Discovery Of Shale Gas
Opportunities
- Extraction Of Aromatics From Shale Oil Or Tight Oil
Company Profiles
- Basf SE
- Borsodchem
- Bp Plc
- Braskem SA
- Chevron Phillips Chemical Company Llc
- China National Petroleum Corporation
- China Petroleum & Chemical Corporation
- Citgo Petroleum Corporation
- Covestro AG
- Cpc Corporation
- Exxon Mobil Corporation
- Flint Hill Resources, LP
- Formosa Chemicals & Fibre Corporation
- Gs Caltex Corporation
- Husky Energy Inc.
- Indian Oil Corporation Limited
- Lyondellbasell Industries Nv
- Marathon Petroleum Corp.
- Mitsubishi Chemical Corporation
- Mitsui Chemicals, Inc.
- Nova Chemicals Corporation
- Oci Company Ltd.
- Other Key Market Players
- Pemex
- Reliance Industries Limited
- Royal Dutch Shell Plc
- Sk Innovation Co., Ltd
- The Dow Chemical Company
- Tosoh Corporation
- Total Sa
- Valero Energy Corporation
- Vencorex
For more information about this report visit http://www.researchandmarkets.com/research/4rp2fc/toluene_market