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Toluene Market worth 23.41 Billion USD by 2021
by sachin602 · August 30 Cheap P.J. Williams Jersey , 2018

The report “Toluene Market by Application and Derivative (Benzene and Xylene, Solvents, Gasoline Additive, Toluene Di-Isocyanate, Benzoic Acid, Trinitrotoluene Cheap Andrus Peat Jersey , Andbenzaldehyde) – Global Forecast to 2021″, The global market size of toluene was USD 20.02 Billion in 2015 and is projected to reach USD 23.41 Billion by 2021, at a CAGR of 6.3%.

Browse聽90 market data tables and聽42 figures spread through聽216 pages and in-depth TOC on 鈥淭oluene Market

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The global toluene market has a large number of market players; however the market is led by some of the major players, such as China Petroleum & Chemical Corporation (China), China National Petroleum Corporation (China), Exxon Mobil Corporation (U.S.) Cheap Trey Hendrickson Jersey , Covestro AG (Germany), and BP P.L.C. (U.K.), among others. Together, these companies account for approximately 34% share of the toluene market. The other major players in the toluene market are, SK Innovation Co., Ltd. (South Korea) Cheap Sheldon Rankins Jersey , BASF SE (Germany), GS Caltex (South Korea), Formosa Chemicals & Fiber Corporation (Taiwan), Royal Dutch Shell PLC (Netherlands), and CPC Corporation (Taiwan), among others.

Most of these companies are leaders in the production of toluene and its derivatives. These companies are focusing on eliminating the supply chain gaps with backward or forward integration Cheap Alex Anzalone Jersey , and expansions in the emerging markets of the Asia-Pacific region in order to widen and strengthen their market shares.
Market players are concentrating on increasing their production capacities and developing cost effective technologies. The companies are investing in establishing new facilities, mainly in the emerging regions so as to increase their global presence. All these developments are due to the increasing demand for toluene from segments such as, solvents, TDI, and gasoline additives.

Expansions and backward or forward integration are the key strategies adopted by the major toluene manufactures in the recent past. The top players in the toluene market are adopting these strategies for better penetration and expansions of their businesses into new emerging regions. These new ventures would help the companies to satiate the growing demand for toluene in several applications. ExxonMobil (U.S.), and BP PLC (U.K.) are the few among the other market players who have adopted these strategies in order to strengthen their shares in the toluene market.

Moreover Cheap Marcus Williams Jersey , the leading market players are also focusing on expanding their existing production facilities in order to meet the growing demand for toluene, especially from the Asia-Pacific region. The market players are using this strategy as an excellent strategy to optimize their production facilities in the potential toluene markets.

聽鈥淎sia-Pacific is the key market for toluene鈥?p>

The Asia-Pacific region is estimated to have led the toluene market in 2016. China is the largest consumer of toluene in the world. The demand for toluene is driven by the diverse industrial markets ranging from building & construction, automotive, industrial, and oil & gas, among others. The ensuing increase in investments and rise in the number of new manufacturing establishments is expected to lead the Asia-Pacific region emerging as the prime driver for the toluene market.

鈥淭DI segment to be the fastest growing market for toluene鈥?p>

The TDI segment is estimated to be fastest growing segment in the toluene market. Growth in the automotive and building & construction industries is expected to drive the market of TDI for polyurethane Cheap Ryan Ramczyk Jersey , which is used as an insulating foam in these industries. North America is expected to witness high potential growth in the TDI segment due to the recent discoveries of shale gas and shale oil in the region and a strong manufacturing base in the U.S. Rising energy costs and greenhouse gas emissions have prompted various companies to improve the energy efficiency in households and industrial buildings, which is driving the demand for PU foams for use as insulators. PU foam is used in automobiles due to the light weight, which helps in the reduction of fuel emissions.聽 With the increasing concerns regarding the conservation of energy, the market for PU is expected to grow, which, in turn Cheap Marshon Lattimore Jersey , is expected drive the demand for toluene.

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