The aromatic solvent market was estimated to be worth USD 5.2 billion globally in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 5.1% over the course of the forecast period. Because of their superior solubility, rapid drying times, and compatibility with a wide range of resins, aromatic solvents are primarily utilized in the paint and coatings industry. They are extensively utilized in industrial, architectural, and automotive coatings.

The need for paints, adhesives, and sealants is increasing due to rapid urbanization and infrastructure initiatives, particularly in developing nations like China and India. The markets for atomic solvents are expanding in areas where nations are making significant investments in the building and industrial sectors. Aromatic solvents are utilized in vapor degreasing and immersion cleaning in sectors such as electronics, automotive, and aerospace to eliminate heavy impurities from precise components and metal parts.

 

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Growth Drivers Market

Aromatic solvents are used in the automotive industry to make adhesives, coatings, and cleaning products. The need for these solvents rises in tandem with the global increase in car production, particularly in Asia-Pacific and Europe. higher formulations of aromatic solvents with higher performance and less environmental effect are the result of ongoing research and development.

They are valuable in these industries because to their ability to dissolve a variety of compounds, which promotes market expansion. The market is expanding as a result of rising demand for paints and coatings. Cleaning, degreasing, adhesives, and sealants are the main factors driving market expansion. Aromatic solvents are becoming more sustainable due to improvements in efficiency and environmental compliance brought about by advancements in refining and solvent recovery techniques. The market is seeing demand due to the growing expansion of infrastructure construction.

Segmentation

Aromatic Solvents by Product

·         Toluene Solvents

·         Xylene Solvents

·         Ethylbenzene Solvents

·         Other Products

Aromatic Solvents by Applications segmentation

·         Paints & Coatings

·         Adhesives

·         Printing Inks

·         Cleaning & Degreasing

·         Others

By Region

·         Asia-Pacific

·         North America

·         Latin America

·         Middle East and Africa

·         Europe

Key Players

·         ExxonMobil Corporation

·         China Petroleum & Chemical Corporation

·         BASF SE

·         Royal Dutch Shell PLC

·         LyondellBasell Industries Holdings B.V.

·         Total S.A.

·         Indian Oil Corporation Limited

·         Bharat Petroleum Corporation Limited

·         Chevron Phillips Chemical Company

·         Reliance Industries Limited

·         Other Players

 

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