Aromatic Solvents Market - Global Industry Analysis and Forecast 2023

aromatic-solvents-market
The aromatic solvents market is growing with a considerable rate due to high demand for aromatic solvents from the end users such as ink industry, and paint and coating industry. Development of light aromatic fluids is expected to reduce potential hazards caused by aromatic solvents, resulting in a great opportunity for the aromatics solvent market to grow with a more significant rate in the coming years.
A solvent dissolves a solute in a specific volume depending on temperature, to produce a solution. Mixture of solvent and solute, consisting single phase as all the solute molecules occurs as solvates in it, opposes to split continuous phases in emulsions, suspensions and other types of non solution mixtures. On the basis of nature of solvents, solvents can be categorized as polar and non-polar.
The aromatic solvents market can be categorized on the basis of product type as toluene, benzene, aromatic 150, xylene, aromatic 200 and aromatic 100. On the basis of applications, the aromatic solvents market can be categorized as oilfield chemicals, pharmaceuticals, paints and coatings, perfumes, automotive, adhesives and sealants, cosmetics textiles, electronics, and pesticide.
Some of the factors driving the growth of the aromatics solvent market are strong growth in oil and gas industry, and rising crude oil prices. As the automotive industry is rising globally, it is increasing the demand for adhesives and sealants, which in turn is resulting in the growth of the aromatic solvents market.
Some of the competitors in the aromatic solvents market are BASF SE, Royal Dutch Shell plc, Haltermann Carless UK Limited, INEOS AG, LyondellBasell Industries N.V., Celanese Corporation, Honeywell International Inc., Exxon Mobil Corporation, Ashland Inc., Huntsman International LLC, Eastman Chemical Company, DEZA a. s., and Oil Refineries Ltd.

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