The Global Toluene Market - Outlook to 2023 - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Nov 26, 2018--The “The Global Toluene Market” report has been added to ResearchAndMarkets.com’s offering.
According to a recently conducted research about the global toluene market, as an overall, it is projected to reach approximately 34,112 thousand tons by the end of 2023, increasing at a CAGR of around 3% per year in the period 2017-2023.
The report focuses on both product and regional breakdown, offering a larger perspective on the market dynamics. Although toluene is predominantly used for the production of benzene, the analysis considers the application of toluene across various other fields. In particular, the largest share of toluene consumption is for the production of benzene, which accounted for around 83% of the total in volume terms. Meanwhile, the chemical’s application for benzyl chloride has been growing with the highest rate of about 3.95% per year.
Regionally, the largest global toluene market was North East Asia, which accounted for about 50% of the total in volume terms. In comparison, Africa was the smallest global toluene market during the analyzed period and is expected to remain such in the medium term.
One of the leading trends on the global toluene market is linked with the fact that it is widely used as a raw material for the production of many intermediates among which benzene and xylene. The growing demand for aromatics in the petrochemical industry for the production of synthetic fibers, elastomers, agrochemicals, dyes, paints, and others has been a major driving factor for the global toluene market. What is more, toluene is also a major petrochemical used as a fuel additive. It can be used both as a blendstock for gasoline and as a feedstock for chemical production. As a blendstock, toluene demand is seasonal in nature and it is most attractive for blenders during the driving season.
Outside of driving season, toluene is most appealing as a feedstock for chemical production. There has been a certain trend connected with the development of alternative solvents, which was prompted mainly by the increasing legislative pressure towards reducing toluene usage. In addition, the use of toluene poses a serious threat to the environment, which is why the regulatory boards, such as the US Environmental Protection Agency (EPA), have imposed strict regulations on the permissible level and content of VOCs in everyday products.
Regionally, one of the strong trends observed on the North American toluene market is linked with the discovery of shale gas. The shale revolution in North America has had a huge impact on petrochemical production on the continent. The North American aromatics market has been particularly impacted, with benzene, toluene, and xylenes (BTX) production taking a notable hit in recent years. What is more, in the end of 2017, there were storm damages caused by Hurricane Harvey and Hurricane Irma, both of which added pressure on supply.
The impact of the hurricanes led to lower refining operating rates.
As for Europe, an important aspect of the toluene market is the BASF’s 300,000 MT/year facility in Ludwigshafen, as it has supported a large part of the European demand for toluene.
After the re-opening of the facility in Germany, it was expected the production levels of toluene and TDI to increase in 2017 and to fill the supply deficit that has been applying upwards pressure on the TDI market for most of 2016. However, the manufacture issues led to lower demand for toluene, used by the TDI market.
Key Topics Covered
2. Executive Summary
3. Characteristics of Toluene
4. State of the Global Demographics and Economy
5. Overview and Analysis of the Global Toluene Market
6. Overview and Analysis of the Global Production of Toluene
7. Characteristics and Analysis of the Global Prices of Toluene
8. Overview and Analysis of the Global Imports of Toluene
9. Overview and Analysis of the Global Exports of Toluene
10. Balance Between Supply and Demand on the Global Toluene Market
Companies FeaturedSonatrach Ameriya Oil Ref. Co. Echem Pck Raff. Schwedt Shell Deutschl. Oil Mol Petrochemicals Versalis Bou Ali Sina Petrochemical Pidmco Gadiv Pc Ind. Tacaamol Basf Total Pc Chevron Phillips Chemical Citgo Rfg. And Chem. Inc. Dow Chemical Equistar Chemicals Exxonmobil Chemical Baosteel Basf-Ypc Changzhou New Solar Chem. Chongqing Zuoneng Chemical Cnooc Ningbo Daxie Pc Cnooc Ref. And Pc Dalian West Pacific Pc Petrochina Huabei Pc Sinopec Wuhan Co Sumitomo Chemical Taiyo Oil Ulsan Aromatics (Uac) Yeochun Ncc Reliance Ind. Lotte Chemical Titan Ecopetrol Promotora De Caribe and many more...
For more information about this report visit https://www.researchandmarkets.com/research/5mv2gr/the_global?w=4
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Related Topics:Petrochemicals ,Solvents ,Fuel Additives
INDUSTRY KEYWORD: MANUFACTURING CHEMICALS/PLASTICS ALTERNATIVE VEHICLES/FUELS AUTOMOTIVE
SOURCE: Research and Markets
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PUB: 11/26/2018 08:36 AM/DISC: 11/26/2018 08:36 AM