Toluene Market Growing at a CAGR of 6.3 % During 2016 to 2021

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19 Jan, 2017, 10:00 GMT

PUNE, India, January 19, 2017 /PRNewswire/ --

The toluene market is projected to reach USD 23.41 billion by 2021 at a CAGR of 6.3% dominated by North America which is expected to be the fastest growing market both, in terms of value and volume while Benzene and xylene are projected to lead the toluene market during the forecast period.  

Browse 90 tables and 42 figures, 31 Company profiles spread across 216 pages available at http://www.reportsnreports.com/reports/815726-toluene-market-by-application-and-derivative-benzene-and-xylene-solvents-gasoline-additive-toluene-di-isocyanate-benzoic-acid-trinitrotoluene-andbenzaldehyde-global-forecast-to-2021.html .

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 are expected to drive the toluene market.

The toluene market is projected to register steady growth rate from 2016to 2021. The companies profiled in this report include, China Petroleum & Chemical Corporation (China), China National Petroleum Corporation (China), Exxon Mobil Corporation (U.S.), Covestro AG (Germany), BP P.L.C. (U.K.), SK Innovations (South Korea), BASF SE (Germany), GS Caltex (South Korea), Formosa Chemical & Fiber Corporation (Taiwan), Royal Dutch Shell (Netherlands), and CPC Corporation (Taiwan), among others. Order a copy of Toluene Market by Application and Derivative (Benzene and Xylene, Solvents, Gasoline Additive, Toluene Di-Isocyanate, Benzoic Acid, Trinitrotoluene, Andbenzaldehyde) - Global Forecast to 2021 research report at http://www.reportsnreports.com/purchase.aspx?name=815726 .

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 are also driving the toluene market.

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