Global Toluene Market Spurred by Rising Use of Aromatics in Petrochemical Industry

November 20, 2018 | Chemical & Materials

According to the latest report by IMARC Group, titled “Toluene Market Report by Technology (Reformation Process, Pygas Process, Coke/Coal Process, Styrene Process), Application (Gasoline, STDP/TPX, Solvents, Trans Alkylation (TA), Hydrodealkylation, Toluene Diisocyanate (TDI), Toluene Disproportionation (TDP), and Others), and Region 2024-2032”, the global toluene market reached a value of US$ 28.9 Billion in 2023. Toluene is a water-insoluble, colorless and organic chemical compound. It is a minor constituent obtained during the production of gasoline and crude oil. Toluene can also be produced through natural sources such as tolu tree and as a by-product of styrene production. Owing to its physical and chemical properties, toluene is used in the synthesis of saccharin, trinitrotoluene (TNT) and benzoic acid. It is also utilized in the manufacturing of polymers used for making plastic soda bottles, nylon and polyurethanes.

Global Toluene Market Trends:

Toluene currently plays a vital role across several end-use industries, such as building and construction, printing, rubber, oil and gas, resins, leather and pharmaceuticals, which is one of the major factors driving the growth of the toluene market. Moreover, there has been a rise in the usage of toluene in gasoline mixtures in the form of an octane booster for controlling the energy content of gasoline. Apart from this, an increase in the utilization of aromatics to manufacture nail paints, agrochemicals and elastomers in the petrochemical industry is positively influencing the market growth. Further, the manufacturers of toluene are adopting new technologies like Celanese's AO-plus and BP's Cativa which help in lowering the operating cost, enhancing production efficiency and increasing capacity. However, toluene has intoxicating effects due to which its application has been hampered in several industries. Despite this hindrance, the market value is expected to reach US$ 44.0 Billion by 2032, exhibiting a CAGR of 4.6% during 2024-2032.

Market Summary:

On the basis of technology, the market has been segmented into reformation process, pygas process, coke/coal process and styrene process. Amongst these, the reformation process exhibits a clear dominance in the market.
Based on application, the market has been segregated into gasoline, STDP/TPX, solvents, trans alkylation (TA), hydrodealkylation, toluene diisocyanate (TDI) and toluene disproportionation (TDP). Currently, gasoline represents the largest segment owing to the increasing usage of toluene in gasoline as an additive.
On a geographical front, Asia Pacific holds the majority of the total global market. This is due to a rise in the demand for toluene in construction activities across various nations in the region.
The report has also analyzed the import and export trends of the market and finds that China represents the largest importer, whereas, the Republic of Korea is the biggest exporter of toluene across the globe.
The competitive landscape of the market has also been analyzed with some of the key players being Exxon Mobil Corporation, SK Group, British Petroleum, Versalis and Compañia Española De Petroleos Sau.

Report Coverage:

Report Features	Details
Base Year of the Analysis	2023
Historical Period	2018-2023
Forecast Period	2024-2032
Units	US$ Billion, Million Tons
Segment Coverage	Technology, Application, Region
Region Covered	Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Companies Covered	Exxon Mobil Corporation, SK Global, British Petroleum, Versalis, Compañia Española De Petroleos Sau, BASF, Covestro, BP PLC, and Royal Dutch Shell Plc.
Customization Scope	10% Free Customization
Report Price and Purchase Option	Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

IMARC Group
USA: +1-631-791-1145
Email: sales@imarcgroup.com
Website: https://www.imarcgroup.com
Follow us on twitter: @imarcglobal

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Global Toluene Market Spurred by Rising Use of Aromatics in Petrochemical Industry

Purchase options

Single User License ~~$3899~~ $2999
Five User License ~~$4899~~ $3999
Corporate User License ~~$5899~~ $4999

Inquire Before Buying

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Speak to an Analyst

Request Brochure

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-713-2163

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.