The Global Aromatic Solvent Market is projected to reach a value of over USD 10.8 billion by 2027 at a CAGR of around 4.1%.

A solvent which contains aromatic hydrocarbons such as naptha, toluene or xylene are known as aromatic solvents. They are primarily used in various industrial fields such as oil & gas, automotive, pharmaceuticals, and others.  Aromatic solvents has higher rate of solvency and resist corrosion owing to which it paves its usage in various end-use sectors. Additionally, its ability to modify the viscosity as per the curing rate helps to improve functionally and aesthetics of the outer layer painting in paint & coating application.

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Aromatic Solvent Market: Drivers & Challenges

Market Driver:

  • Increasing demand from Paints & Coating Industry

Enhanced physical and chemical properties of specialty solvent and its extensive application in paints and coating industry has expected to surge the demand for aromatic solvent in paints & coating segments.  Besides its chemical and physical properties, solvents are highly used as thinners and diluents in paints and coating industry. Increasing demand for the construction and automotive industry coupled with technological advancement has expected to boost the paint and coating market. According to OICA (International Organization of Motor Vehicle Manufacturers), in 2018 the total production of automotive vehicles was 95634593 units. Thus, growth in paints & coating industry has expected to boost the demand for aromatic solvent.

Market Restraint:

  • Growing Awareness of Green Solvents

Various volatile organic compounds (VOC) are emitted into atmosphere during the manufacturing process of aromatic solvents. The awareness regarding harmful effects has inclined consumers shift towards environmental safe solvents. Additionally, the stringent regulations imposed by governments to control the VOC emission such as Carbon Dioxide (cO2), and others. For instance, Environmental Protection Agency (EPA), has introduced national ambient air quality standards (NAAQS) in order to control the VOC emission. Green solvents are environmental friendly solvents or biosolvents which are derived from processing agricultural crops.

Aromatic Solvent Market: Key Segments

  • Segmentation based on type: Toluene Solvents, Xylene Solvents, Ethylbenzene Solvents, and Others.
  • Segmentation based on application: Paints & Coating, Adhesives, Printing Inks, Cleaning & Degreasing, and Others.
  • Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.

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List of the leading companies operating in the Aromatic Solvent Market include:

  • BASF SE (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Royal Dutch Shell plc
  • Exxon Mobil Corporation
  • Honeywell International Inc.
  • Eastman Chemical Company
  • LyondellBasell Industries Holdings B.V.
  • Chevron Phillips Chemical Company
  • Celanese Corporation
  • Huntsman International LLC
  • HCS Group
  • INEOS AG
  • Total S.A.
  • Bharat Petroleum Corporation Limited
  • Gotham Industries
  • TOP SOLVENT CO.,LTD.

Aromatic Solvent Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Aromatic Solvent Market, by Type

  • Toluene Solvents
  • Xylene Solvents
  • Ethylbenzene Solvents
  • Others

Aromatic Solvent Market, by Application

  • Paints & Coating
  • Adhesives
  • Printing Inks
  • Cleaning & Degeasing
  • Others


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Aromatic Solvent Market by Region

  • Asia-Pacific (China, Japan, South Korea, India, Taiwan, Rest of Asia-Pacific)
  • North America (US, Canada, Mexico)
  • Europe (Germany, Russia, France, Italy, UK, Spain, The Netherlands, Rest of Europe)
  • Middle East and Africa (Saudi Arabia, UAE, Rest of Middle East & Africa)
  • South America (Brazil, Argentina, Rest of South America)

Table of Content:

  1. INTRODUCTION
    1. Research Objectives
    2. Market Definition
    3. Research Scope
    4. Regional Coverage
    5. Research Timeline
    6. Assumptions
    7. Limitations
  2. RESEARCH DESIGN & SCOPE
    1. Introduction
    2. Primary Research
      1. Key Industry Expert Insight
    3. Secondary Research
      1. Vital Data from Secondary Sources
    4. Market Size Estimation
    5. Data Validation & Triangulation
  3. EXECUTIVE SUMMARY
  4. MARKET DYNAMICS
    1. Introduction
    2. Drivers
      1. Increasing demand from Paints & Coating Industry
      2. Rising Aromatic Solvent Application in Oil & Gas Sector 
    3. Restraint
      1. Growing Awareness of Green Solvents
    4. Opportunities
      1. Growing Opportunities from Emerging Economies
    5. Challenges
      1. Harmful Effects of Aromatic Solvent
  5. INDUSTRY TRENDS – PORTERS FIVE FORCES ANALYSIS
    1. Introduction
      1. Power of Buyers
      2. Power of Suppliers
      3. Intensity of Competition
      4. Challenges of Substitutes
      5. Challenges of New Entrants
    2. Macro-Economic Indicators
  6. GLOBAL AROMATIC SOLVENTS MARKET BY TYPE, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Toluene Solvents
    3. Xylene Solvents
    4. Ethylbenzene Solvents
    5. Others
  7. GLOBAL AROMATIC SOLVENTS MARKET BY APPLICATION, Market Size in USD Million (2019-2027)
    1. Introduction
    2. Paints & Coating
    3. Adhesives
    4. Printing Inks
    5. Cleaning & Degeasing
    6. Others
  8. GLOBAL AROMATIC SOLVENTS MARKET BY REGION, Market Size in USD Million (2019-2027)
    1. North America
      1. US
      2. Canada
      3. Mexico
    2. Europe
      1. Germany
      2. France
      3. Italy
      4. UK
      5. Russia
      6. Rest of Europe
    3. Asia-Pacific
      1. China
      2. India
      3. Japan
      4. South Korea
      5. Rest of Asia-Pacific
    4. Middle East and Africa
      1. Saudi Arabia
      2. UAE
      3. Rest of Middle East and Africa
    5. South America
      1. Brazil
      2. Argentina
      3. Rest of South America
  9. COMPETITIVE LANDSCAPE
    1. Introduction
    2. Market Ranking/Share Analysis of Key Companies
    3. Company Benchmarking
  10. COMPANY PROFILES
    1. BASF SE
      1. Company Overview
      2. Financial Overview
      3. Products/Solutions/Services Offered
      4. Key Developments
      5. SWOT Analysis
    2. Royal Dutch Shell plc
    3. Exxon Mobil Corporation
    4. Honeywell International Inc.
    5. Eastman Chemical Company
    6. LyondellBasell Industries Holdings B.V.
    7. Chevron Phillips Chemical Company
    8. Celanese Corporation
    9. Huntsman International LLC
    10. HCS Group
    11. INEOS AG
    12. Total S.A.
    13. Bharat Petroleum Corporation Limited
    14. Gotham Industries
    15. TOP SOLVENT CO.,LTD.
    16. Other Key Companies
  11. APPENDIX
    1. Key Industry Expert Insights
    2. Primary Discussion Guide
    3. Customization Options


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