From Globe Newswire: 2024-08-06 08:30:00

Exactitude Consultancy, a research wing of Ameliorate Digital Consultancy, released a report on the Toluene Market, valued at USD 23.67 billion in 2023 and expected to grow at a CAGR of 10.84% to reach USD 66.27 billion by 2030.

Toluene is a crucial solvent in the chemical industry, used in paints, coatings, pharmaceuticals, and more. Drivers include its versatile applications and demand in TDI production, while restraints include regulations and diesel preference.

Asia-Pacific leads toluene consumption, with China and India driving industrial activities. Segments like benzene and xylene dominate, offering growth opportunities in TDI production.

Toluene plays a significant role in the chemical industry, fuel enhancement, and global fuel markets, with regions like Asia-Pacific, North America, Europe, Latin America, and the Middle East/Africa showing potential growth areas.

Key players in the toluene market include BASF, Braskem, SABIC, and Exxon Mobil, with recent developments focusing on sustainability, efficiency, and eco-friendly solutions.

Market segments include derivatives like benzene and xylene, applications in paints, coatings, and explosives, and regions like North America, Asia-Pacific, Europe, Latin America, and Middle East/Africa showing unique opportunities and challenges in the market landscape.



Read more at Globe Newswire: Toluene Market is expected to be valued at USD 66.27