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The North America toluene market reached a volume of 8.41 Million Tons in 2020. Looking forward, IMARC Group expects the market to reach a volume of 9.76 Million Tons by 2026. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Toluene (C7H8), also known as methylbenzene, is an organic chemical compound which is obtained as a byproduct during the production of crude oil. It is a colorless, water-insoluble liquid with the typical odour of paint thinner. Due to the presence of benzene, toluene is considered an aromatic compound. Additionally, toluene exhibits beta-oxidant, depressant, hepatoprotective, anesthetic, and neurotransmitter properties. Owing to this, it finds wide applications in several downstream industries, such as textiles, food processing and other industrial chemical processes.
The North America toluene market is being currently driven by several factors. The increasing utilization of toluene as a solvent for various commercial products, including paints and glues, has spurred its demand in the chemical-based industries. Furthermore, toluene is utilized in the production of hair dyes and in the explosives industry to manufacture flammable compounds, thereby stimulating the market growth in the region. Apart from this, there is an escalated demand for toluene in the pharmaceutical industry to produce various drugs. These include penicillin G potassium, penicillin G sodium, acetanilide, norfloxacin, ciprofloxacin, acetyl salicylic acid, prednisone and caffeine. Thus, rapid technological advancements in the pharmaceutical industry have positively influenced the growth of toluene market in the region.
IMARC Group provides an analysis of the key trends in each sub-segment of the North America toluene market, along with forecasts at the regional and country level from 2021-2026. Our report has categorized the market based on technology and application.
|Base Year of the Analysis||2020|
|Segment Coverage||Technology, Application, Country|
|Countries Covered||United States, Canada, Mexico|
|Customization Scope||10% Free Customization|
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Key Questions Answered in This Report:
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