Summary

Toluene Market Growth & Trends

The global toluene market is expected to reach USD 105.27 billion by 2030, registering a CAGR of 7.4% during the forecast period of 2024 to 2030, as per the new report by Grand View Research, Inc. The growth is majorly driven by its wide application as a solvent in various industries, such as paints, coatings, adhesives, printing inks, rubber, and polymer processing.

Toluene is an aromatic hydrocarbon with the chemical formula C7H8. It is a colorless, volatile liquid with a distinct benzene-like odor. The product is derived from crude oil and is a major component of gasoline, where it acts as an octane booster to improve fuel performance in engines.

The product is predominantly consumed in the production of benzene, xylene, and their derivatives. Most of the global product production is utilized in the manufacturing of these chemicals, which find diverse applications in various industries including paints and coatings, chemical manufacturing, pharmaceuticals, mining and construction, sectors. This consistent demand for toluene arises from its commercial significance and its integral role in core chemical manufacturing processes.

The demand for the product is steadily increasing, driven by its extensive use as an octane booster in gasoline blends. The product effectively enhances the energy content of gasoline, making it highly favorable for high-performance engines. Furthermore, its low sensitivity characteristics contribute to its suitability for heavily loaded engines. Moreover, another emerging factor boosting the toulene market growth is the rising demand for aromatics in the petrochemical industry. Toluene plays a vital role in the production of synthetic fibers, elastomers, agrochemicals, dyes, and nail paints, contributing to the surge in its market demand.

Toluene is a volatile organic compound (VOC) and a major contributor to air pollution. Increasing environmental regulations and growing awareness of the harmful effects of VOCs may lead to stricter emissions controls and reduced usage in certain applications.With the global push for sustainability and eco-friendly products, there is a growing trend towards renewable and green alternatives to conventional petrochemical-derived chemicals like toluene. Bio-based and plant-derived solvents are gaining popularity, which could potentially impact the demand for toluene.

Toluene Market Report Highlights

• Solvent application of toluene is projected to grow at a highest growth rate of 8.0% owing to its excellent properties like low viscosity, and relatively low toxicity compared to other solvents.

• Some common solvent applications of toluene include paints and coatings, adhesives, printing inks, pharmaceuticals, cleaning agents, and fragrances & perfumes among others

• Asia Pacific region is expected to witness the fastest growth rate of 8.4% over the forecast period owing to the increasing application of downstream derivatives of toluene used in automobile, oil & gas, and construction among others in the region.

• Countries like China, India, and Japan are expected to maintain dominancy in the global market during the forecast period, primarily due to the continuous expansion of the manufacturing sector in these nations.

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Table of Contents

Table of Contents

Chapter 1 Methodology and Scope
1.1 Market Segmentation & Scope
1.2 Market Definition
1.3 Information Procurement
1.3.1 Purchased Database
1.3.2 GVR’s Internal Database
1.4 Information analysis
1.5 Market formulation & data visualization
1.6 Data validation & publishing
1.6.1 Research scope and assumptions
1.6.2 List to Data Sources
Chapter 2 Executive Summary
2.1 Market Snapshot
2.2 Segment Snapshot
2.3 Competitive Landscape Snapshot
Chapter 3 Toluene: Market Variables, Trends & Scope
3.1 Market Lineage Outlook
3.1.1 Toluene Market Outlook
3.2 Industry Value Chain Analysis
3.2.1 Manufacturing Trends
3.2.2 Sales Channel Analysis
3.3 Regulatory framework
3.4 Price Trend Analysis, 2018–2030
3.4.1 Factors Influencing Prices
3.5 Market Dynamics
3.5.1 Market Driver Analysis
3.5.2 Market Restraint Analysis
3.5.3 Industry Challenges
3.5.4 Industry Opportunities
3.6 Industry Analysis Tools
3.6.1 Porter’s Five Forces Analysis
3.6.2 Macroeconomic Analysis - PESTLE Analysis
Chapter 4 Toluene Market: Applications Estimates & Trend Analysis
4.1 Applications Movement Analysis & Market Share, 2022 & 2030
4.1.1 Solvents
4.1.2 TDI
4.1.3 Others
Chapter 5 Toluene Market: Regional Estimates & Trend Analysis
5.1 Toluene Market: Regional Outlook
5.2 North America
5.2.1 North america Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.2.2 U.S.
5.2.2.1 Key country dynamics
5.2.2.2 U.S. Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.2.3 Canada
5.2.3.1 Key country dynamics
5.2.3.2 Canada Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.2.4 Mexico
5.2.4.1 Key country dynamics
5.2.4.2 Mexico Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.3 Europe
5.3.1 Europe Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.3.2 Germany
5.3.2.1 Key country dynamics
5.3.2.2 Germany Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.3.3 UK
5.3.3.1 Key country dynamics
5.3.3.2 UK Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.3.4 Italy
5.3.4.1 Key country dynamics
5.3.4.2 Italy Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.3.5 Netherlands
5.3.5.1 Key country dynamics
5.3.5.2 Netherlands Toluene Market Estimates & Forecasts, 2018 - 2030 (MillionTons) (USD Billion)
5.3.6 Belgium
5.3.6.1 Key country dynamics
5.3.6.2 Belgium Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.3.7 France
5.3.7.1 Key country dynamics
5.3.7.2 France Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.3.8 Russia
5.3.8.1 Key country dynamics
5.3.8.2 Russia Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.4 Asia Pacific
5.4.1 Asia Pacific Toluene Market Estimates & Forecasts, 2018-2030, (Million Tons) (USD Billion)
5.4.2 China
5.4.2.1 Key country dynamics
5.4.2.2 China Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.4.3 India
5.4.3.1 Key country dynamics
5.4.3.2 India Toluene Market Estimates & Forecasts, 2018 - 2030 (million Tons) (USD Billion)
5.4.4 Japan
5.4.4.1 Key country dynamics
5.4.4.2 Japan Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.4.5 Malaysia
5.4.5.1 Key country dynamics
5.4.5.2 Malaysia Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.4.6 Indonesia
5.4.6.1 Key country dynamics
5.4.6.2 Indonesia Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.4.7 Vietnam
5.4.7.1 Key country dynamics
5.4.7.2 Vietnam Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.4.8 Australia
5.4.8.1 Key country dynamics
5.4.8.2 Australia Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.4.9 New Zealand
5.4.9.1 Key country dynamics
5.4.9.2 New Zealand Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.5 Central & South America
5.5.1 Central & South America Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.5.2 Brazil
5.5.2.1 Key country dynamics
5.5.2.2 Brazil Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.5.3 Argentina
5.5.3.1 Key country dynamics
5.5.3.2 Argentina Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.5.4 Colombia
5.5.4.1 Key country dynamics
5.5.4.2 Colombia Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.5.5 Peru
5.5.5.1 Key country dynamics
5.5.5.2 Peru Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.6 Middle East & Africa
5.6.1 Middle East & Africa Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.6.2 Saudi Arabia
5.6.2.1 Key country dynamics
5.6.2.2 Saudi Arabia Toluene Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Billion)
5.6.3 Iran
5.6.3.1 Key country dynamics
5.6.3.2 Iran Toluene Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Billion)
5.6.4 Oman
5.6.4.1 Key country dynamics
5.6.4.2 Oman Toluene Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Billion)
5.6.5 UAE
5.6.6.1 Key country dynamics
5.6.5.2 UAE Toluene Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Billion)
5.6.6 Qatar
5.6.6.1 Key country dynamics
5.6.6.2 Qatar Toluene Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Billion)
5.6.7 Kuwait
5.6.7.1 Key country dynamics
5.6.7.2 Kuwait Toluene Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Billion)
5.7 Africa
5.7.1 Africa Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.7.2 South Africa
5.7.2.1 Key country dynamics
5.7.2.2 South Africa Toluene Market Estimates & Forecasts, 2018 - 2030 (Tons) (USD Billion)
5.7.3 Angola
5.7.3.1 Key country dynamics
5.7.3.2 Angola Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
5.7.4 Nigeria
5.7.4.1 Key country dynamics
5.7.4.2 Nigeria Toluene Market Estimates & Forecasts, 2018 - 2030 (Million Tons) (USD Billion)
Chapter 6 Competitive Landscape
6.1 Company Categorization
6.2 Key Company Market Share Analysis, 2023
6.3 Company Heat Map Analysis
6.4 Company Listing (Business Overview, Financial Performance, Product Benchmarking)
6.4.1 Exxon Mobil Corporation
6.4.2 SABIC
6.4.3 China Petroleum and Chemical Corporation
6.4.4 INEOS Capital Limited
6.4.5 BASF SE
6.4.6 Covestro AG
6.4.7 LyondellBasell Industries Holdings B.V.
6.4.8 Royal Dutch Shell Plc
6.4.9 Chevron Phillips Chemicals LLC
6.4.10 Mitsubishi Chemicals Corporation