Market Overview:
The global aromatics market is expected to grow at a CAGR of 4.5% from 2018 to 2030. The growth in the market can be attributed to the increasing demand for paints and coatings, automotive, pharmaceuticals, oil and gas, chemicals and other applications. Asia Pacific is expected to be the fastest-growing region during the forecast period.
Product Definition:
Aromatics are a type of organic compound that have a specific aroma. These molecules typically contain a benzene ring, which is responsible for the molecule's characteristic smell. Aromatics are important because they are used to flavor foods and beverages, as well as to scent various products.
Benzene:
Benzene is an aromatic hydrocarbon that is derived from crude oil. It has a strong, sweet smell and it's colorless liquid form can be found in paint shops and any other place where paints are manufactured. Benzene finds its major application in the aromatics industry as an essential component for manufacturing styrene, toluene, xylene (xylenes), cumene (tanks & trucks), ethylbenzene, and cyclohexane.
Toluene:
Toluene is a colorless and highly flammable organic liquid. It has a strong odor similar to that of gasoline. It is mainly used in the production of xylene, which is further used for the production of polyvinyl chloride, adhesives & sealants, printing inks, paints & coatings and rubber products.
Application Insights:
The global aromatic market is segmented by application into paints and coatings, automotive, pharmaceuticals, oil and gas chemicals, plastics and other applications. The paints and coatings segment dominated the overall industry in 2017 with a share of over 40% in terms of revenue. Increasing construction activities across the globe are expected to drive product demand for this application over the forecast period.
The global automotive industry has witnessed tremendous growth over recent years owing to increasing consumer disposable income levels coupled with rising living standards in emerging economies such as India China Brazil etc. This trend is expected to continue through next few years which will have a positive impact on product demand for aromatics used as fuel additives or gasoline enhancers around the world from 2018 to 2030.
Regional Analysis:
Asia Pacific was the largest regional market in 2017 and is expected to continue its dominance over the forecast period. The region accounts for a major share of global production owing to low labor costs, which has attracted many foreign investors. China is one of the largest consumers as well as producers of aromatics globally. The country also exports a large amount of these products due to low manufacturing cost compared to other countries in the world such as U.S.
North America emerged as one of the fastest-growing regions with CAGR exceeding 5% from 2018 to 2030 owing mainly Benzene industry growth in Mexico on account Olaquiaga Valley chemical plant expansion project that will be operational by 2019.
Growth Factors:
- Increasing demand for fragrances in personal care products
- Rising awareness about the benefits of aromatherapy
- Growing popularity of essential oils as natural remedies for various health conditions
- Proliferation of online retail channels that offer a wide range of aromatics products
- Increasing use of aromatics in food and beverage industry
Scope Of The Report
Report Attributes
Report Details
Report Title
Aromatics Market Research Report
By Type
Benzene, Toluene, O-Xylene, P-Xylene
By Application
Paints & Coating, Automotive, Pharmaceuticals, Oil & Gas, Chemicals, Other
By Companies
Eastman Chemical, Ashland, BASF, Huntsman, Celanese, Petrochem Carless, INEOS, ExxonMobil, Shell, Honeywell, Eastman Chemical
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
126
Number of Tables & Figures
89
Customization Available
Yes, the report can be customized as per your need.
Global Aromatics Market Report Segments:
The global Aromatics market is segmented on the basis of:
Types
Benzene, Toluene, O-Xylene, P-Xylene
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Paints & Coating, Automotive, Pharmaceuticals, Oil & Gas, Chemicals, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Eastman Chemical
- Ashland
- BASF
- Huntsman
- Celanese
- Petrochem Carless
- INEOS
- ExxonMobil
- Shell
- Honeywell
- Eastman Chemical
Highlights of The Aromatics Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Benzene
- Toluene
- O-Xylene
- P-Xylene
- By Application:
- Paints & Coating
- Automotive
- Pharmaceuticals
- Oil & Gas
- Chemicals
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Aromatics Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Aromatics is a term used to describe chemicals and materials that have the ability to emit fragrances.
Some of the major companies in the aromatics market are Eastman Chemical, Ashland, BASF, Huntsman, Celanese, Petrochem Carless, INEOS, ExxonMobil, Shell, Honeywell, Eastman Chemical.
The aromatics market is expected to register a CAGR of 4.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Aromatics Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Aromatics Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Aromatics Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Aromatics Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Aromatics Market Size & Forecast, 2020-2028
4.5.1 Aromatics Market Size and Y-o-Y Growth
4.5.2 Aromatics Market Absolute $ Opportunity
Chapter 5 Global Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Market Size Forecast by Type
5.2.1 Benzene
5.2.2 Toluene
5.2.3 O-Xylene
5.2.4 P-Xylene
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Market Size Forecast by Applications
6.2.1 Paints & Coating
6.2.2 Automotive
6.2.3 Pharmaceuticals
6.2.4 Oil & Gas
6.2.5 Chemicals
6.2.6 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Aromatics Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Aromatics Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Analysis and Forecast
9.1 Introduction
9.2 North America Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Market Size Forecast by Type
9.6.1 Benzene
9.6.2 Toluene
9.6.3 O-Xylene
9.6.4 P-Xylene
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Market Size Forecast by Applications
9.10.1 Paints & Coating
9.10.2 Automotive
9.10.3 Pharmaceuticals
9.10.4 Oil & Gas
9.10.5 Chemicals
9.10.6 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Analysis and Forecast
10.1 Introduction
10.2 Europe Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Market Size Forecast by Type
10.6.1 Benzene
10.6.2 Toluene
10.6.3 O-Xylene
10.6.4 P-Xylene
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Market Size Forecast by Applications
10.10.1 Paints & Coating
10.10.2 Automotive
10.10.3 Pharmaceuticals
10.10.4 Oil & Gas
10.10.5 Chemicals
10.10.6 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Market Size Forecast by Type
11.6.1 Benzene
11.6.2 Toluene
11.6.3 O-Xylene
11.6.4 P-Xylene
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Market Size Forecast by Applications
11.10.1 Paints & Coating
11.10.2 Automotive
11.10.3 Pharmaceuticals
11.10.4 Oil & Gas
11.10.5 Chemicals
11.10.6 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Analysis and Forecast
12.1 Introduction
12.2 Latin America Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Market Size Forecast by Type
12.6.1 Benzene
12.6.2 Toluene
12.6.3 O-Xylene
12.6.4 P-Xylene
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Market Size Forecast by Applications
12.10.1 Paints & Coating
12.10.2 Automotive
12.10.3 Pharmaceuticals
12.10.4 Oil & Gas
12.10.5 Chemicals
12.10.6 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Market Size Forecast by Type
13.6.1 Benzene
13.6.2 Toluene
13.6.3 O-Xylene
13.6.4 P-Xylene
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Market Size Forecast by Applications
13.10.1 Paints & Coating
13.10.2 Automotive
13.10.3 Pharmaceuticals
13.10.4 Oil & Gas
13.10.5 Chemicals
13.10.6 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Aromatics Market: Competitive Dashboard
14.2 Global Aromatics Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Eastman Chemical
14.3.2 Ashland
14.3.3 BASF
14.3.4 Huntsman
14.3.5 Celanese
14.3.6 Petrochem Carless
14.3.7 INEOS
14.3.8 ExxonMobil
14.3.9 Shell
14.3.10 Honeywell
14.3.11 Eastman Chemical
