Summary

The basic aromatics market size was valued at US$ 161.59 billion in 2023 and is projected to reach US$ 259.55 billion by 2031; it is estimated to register a CAGR of 6.1% from 2023 to 2031.

Based on end use, the market is segmented into pharmaceuticals, pesticides, agriculture, food and beverages, cosmetics and personal care, paints and coatings, and solvents. The food and beverage segment held the largest share in 2023. The solvents segment held the largest share of the global basic aromatics market in 2023, and paints and coatings is expected to record a significant CAGR during the forecast period. Solvents segment is one of the major application segments of the global basic aromatics market. Due to their excellent solvency power and fast evaporation rates, basic aromatics are effective at removing grease, oil, and dirt from various surfaces. They are commonly used in industrial cleaning applications, such as degreasing metal parts, cleaning machinery, and solvent-based cleaning processes. Basic aromatics are also used as diluents in several end-user products, such as cleaners.

Asia Pacific held the largest market share for basic aromatics in the year 2023. According to the Invest India report, in terms of pharmaceutical production by volume, the pharmaceutical industry in India ranks third worldwide and was valued at US$ 50 billion in 2023. The region marks the presence of some major pharmaceutical companies such as Pfizer Inc., Eli Lilly and Company, Merck & Co. Inc., The Procter & Gamble Company, and Reckitt Benckiser Group plc.

Asia Pacific also marks the presence of major agrochemical producers in India, China, and Japan. According to the World Trade Organization, India was recorded to be the second-largest exporter of agrochemicals in 2022. Basic aromatics, namely benzene and xylene, are used for the production of pesticides. Benzene is also used for the production of rubber, dyes, drugs, and lubricants. p-Xylene is used as a building block chemical for the production of polyethylene terephthalate and polyester plastics. According to the Japan Plastics Industry Federation, in 2022, Japan produced more than 3 million metric tons of plastic products; in terms of weight, plastic film and sheets accounted for a significant share of the total production. Therefore, the growth in the end-use industries is expected to boost the demand for basic aromatics during the forecast period.

A few players operating in the global basic aromatics market include The Dow Chemical Co, Exxon Mobil Corp, Lanxess AG, Sasol Ltd, Lyondellbasell Industries NV, BASF SE, Nippon Steel Corp, Shell Plc, Ineos Group Holdings SA, and Jubilant Ingrevia Ltd. Players operating in the market focus on providing high-quality products to fulfill customer demand. Also, they are focusing on launching new and high-quality products for their customers.

The overall global basic aromatics market size has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders—specializing in the basic aromatics market.

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Table of Contents

TABLE OF CONTENTS

1. Introduction
1.1 The Insight Partners Research Report Guidance
1.2 Market Segmentation
2. Executive Summary
2.1 Key Insights
2.2 Market Attractiveness
3. Research Methodology
3.1 Secondary Research
3.2 Primary Research
3.2.1 Hypothesis formulation:
3.2.2 Macro-economic factor analysis:
3.2.3 Developing base number:
3.2.4 Data Triangulation:
3.2.5 Country level data:
4. Basic Aromatics Market Landscape
4.1 Overview
4.2 Porter’s Five Forces Analysis
4.2.1 Threat of New Entrants:
4.2.2 Threat of Substitutes:
4.2.3 Bargaining Power of Buyers:
4.2.4 Bargaining Power of Suppliers:
4.2.5 Competitive Rivalry:
4.3 Ecosystem Analysis
4.3.1 Raw Material Suppliers
4.3.2 Manufacturers
4.3.3 Distributors or Suppliers
4.3.4 End-Use Industry
4.4 List of Vendors
5. Basic Aromatics Market – Key Market Dynamics
5.1 Basic Aromatics Market – Key Market Dynamics
5.2 Market Drivers
5.2.1 Growth of Paints & Coatings Industry
5.2.2 Rising Demand for Solvents Across End-Use Industries
5.3 Market Restraints
5.3.1 Fluctuation in Raw Material Prices
5.4 Market Opportunities
5.4.1 Industrial Growth in the Emerging Economies
5.5 Future Trends
5.5.1 Advancement in Recovery Processes of Basic Aromatics
5.6 Impact of Drivers and Restraints:
6. Basic Aromatics Market – Global Market Analysis
6.1 Basic Aromatics Market Volume (Kilo Tons), 2021–2031
6.2 Basic Aromatics Market Volume Forecast and Analysis (Kilo Tons)
6.3 Basic Aromatics Market Revenue (US$ Million), 2023–2031
6.4 Basic Aromatics Market Forecast and Analysis
7. Basic Aromatics Market Volume and Revenue Analysis – by Type
7.1 Styrene Monomer
7.1.1 Overview
7.1.2 Styrene Monomer: Basic Aromatics Market – Volume and Forecast to 2031 (Kilo Tons)
7.1.3 Styrene Monomer: Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
7.2 Divinylbenzene
7.2.1 Overview
7.2.2 Divinylbenzene: Basic Aromatics Market – Volume and Forecast to 2031 (Kilo Tons)
7.2.3 Divinylbenzene: Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
7.3 Benzene
7.3.1 Overview
7.3.2 Benzene: Basic Aromatics Market – Volume and Forecast to 2031 (Kilo Tons)
7.3.3 Benzene: Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
7.4 Toluene
7.4.1 Overview
7.4.2 Toluene: Basic Aromatics Market – Volume and Forecast to 2031 (Kilo Tons)
7.4.3 Toluene: Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
7.5 Xylene
7.5.1 Overview
7.5.2 Xylene: Basic Aromatics Market – Volume and Forecast to 2031 (Kilo Tons)
7.5.3 Xylene: Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
7.6 Cresol
7.6.1 Overview
7.6.2 Cresol: Basic Aromatics Market – Volume and Forecast to 2031 (Kilo Tons)
7.6.3 Cresol: Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
7.7 Pyridine
7.7.1 Overview
7.7.2 Pyridine: Basic Aromatics Market – Volume and Forecast to 2031 (Kilo Tons)
7.7.3 Pyridine: Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
8. Basic Aromatics Market Revenue Analysis – by End Use
8.1 Pharmaceuticals
8.1.1 Overview
8.1.2 Pharmaceuticals: Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
8.2 Pesticides
8.2.1 Overview
8.2.2 Pesticides: Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
8.3 Agriculture
8.3.1 Overview
8.3.2 Agriculture: Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
8.4 Food and Beverages
8.4.1 Overview
8.4.2 Food and Beverages: Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
8.5 Cosmetics and Personal Care
8.5.1 Overview
8.5.2 Cosmetics and Personal Care: Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
8.6 Paints and Coatings
8.6.1 Overview
8.6.2 Paints and Coatings: Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
8.7 Solvents
8.7.1 Overview
8.7.2 Solvents: Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9. Basic Aromatics Market – Geographical Analysis
9.1 Overview
9.2 North America
9.2.1 North America Basic Aromatics Market Overview
9.2.2 North America Basic Aromatics Market – Volume and Forecast to 2031 (Kilo Tons)
9.2.3 North America Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.2.4 North America Basic Aromatics Market Breakdown by Type
9.2.4.1 North America Basic Aromatics Market Volume and Forecast and Analysis – by Type
9.2.4.2 North America Basic Aromatics Market Revenue and Forecast and Analysis – by Type
9.2.5 North America Basic Aromatics Market Breakdown by End Use
9.2.5.1 North America Basic Aromatics Market Revenue and Forecast and Analysis – by End Use
9.2.6 North America Basic Aromatics Market Revenue and Forecast and Analysis – by Country
9.2.6.1 North America Basic Aromatics Market Volume and Forecast and Analysis – by Country
9.2.6.2 North America Basic Aromatics Market Revenue and Forecast and Analysis – by Country
9.2.6.3 United States Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.2.6.3.1 United States Basic Aromatics Market Breakdown by Type
9.2.6.4 Canada Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.2.6.4.1 Canada Basic Aromatics Market Breakdown by Type
9.2.6.5 Mexico Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.2.6.5.1 Mexico Basic Aromatics Market Breakdown by Type
9.3 Europe
9.3.1 Europe Basic Aromatics Market Overview
9.3.2 Europe Basic Aromatics Market – Volume and Forecast to 2031 (Kilo Tons)
9.3.3 Europe Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.3.4 Europe Basic Aromatics Market Breakdown by Type
9.3.4.1 Europe Basic Aromatics Market Volume and Forecast and Analysis – by Type
9.3.4.2 Europe Basic Aromatics Market Revenue and Forecast and Analysis – by Type
9.3.5 Europe Basic Aromatics Market Breakdown by End Use
9.3.5.1 Europe Basic Aromatics Market Revenue and Forecast and Analysis – by End Use
9.3.6 Europe Basic Aromatics Market Revenue and Forecast and Analysis – by Country
9.3.6.1 Europe Basic Aromatics Market Volume and Forecast and Analysis – by Country
9.3.6.2 Europe Basic Aromatics Market Revenue and Forecast and Analysis – by Country
9.3.6.3 Germany Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.3.1 Germany Basic Aromatics Market Breakdown by Type
9.3.6.4 France Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.4.1 France Basic Aromatics Market Breakdown by Type
9.3.6.5 United Kingdom Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.5.1 United Kingdom Basic Aromatics Market Breakdown by Type
9.3.6.6 Italy Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.6.1 Italy Basic Aromatics Market Breakdown by Type
9.3.6.7 Russia Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.7.1 Russia Basic Aromatics Market Breakdown by Type
9.3.6.8 Rest of Europe Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.3.6.8.1 Rest of Europe Basic Aromatics Market Breakdown by Type
9.4 Asia Pacific
9.4.1 Asia Pacific Basic Aromatics Market Overview
9.4.2 Asia Pacific Basic Aromatics Market – Volume and Forecast to 2031 (Kilo Tons)
9.4.3 Asia Pacific Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.4.4 Asia Pacific Basic Aromatics Market Breakdown by Type
9.4.4.1 Asia Pacific Basic Aromatics Market Volume and Forecast and Analysis – by Type
9.4.4.2 Asia Pacific Basic Aromatics Market Revenue and Forecast and Analysis – by Type
9.4.5 Asia Pacific Basic Aromatics Market Breakdown by End Use
9.4.5.1 Asia Pacific Basic Aromatics Market Revenue and Forecast and Analysis – by End Use
9.4.6 Asia Pacific Basic Aromatics Market Revenue and Forecast and Analysis – by Country
9.4.6.1 Asia Pacific Basic Aromatics Market Volume and Forecast and Analysis – by Country
9.4.6.2 Asia Pacific Basic Aromatics Market Revenue and Forecast and Analysis – by Country
9.4.6.3 Australia Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.3.1 Australia Basic Aromatics Market Breakdown by Type
9.4.6.4 China Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.4.1 China Basic Aromatics Market Breakdown by Type
9.4.6.5 India Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.5.1 India Basic Aromatics Market Breakdown by Type
9.4.6.6 Japan Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.6.1 Japan Basic Aromatics Market Breakdown by Type
9.4.6.7 South Korea Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.7.1 South Korea Basic Aromatics Market Breakdown by Type
9.4.6.8 Rest of APAC Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.4.6.8.1 Rest of APAC Basic Aromatics Market Breakdown by Type
9.5 Middle East and Africa
9.5.1 Middle East and Africa Basic Aromatics Market Overview
9.5.2 Middle East and Africa Basic Aromatics Market – Volume and Forecast to 2031 (Kilo Tons)
9.5.3 Middle East and Africa Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.5.4 Middle East and Africa Basic Aromatics Market Breakdown by Type
9.5.4.1 Middle East and Africa Basic Aromatics Market Volume and Forecast and Analysis – by Type
9.5.4.2 Middle East and Africa Basic Aromatics Market Revenue and Forecast and Analysis – by Type
9.5.5 Middle East and Africa Basic Aromatics Market Breakdown by End Use
9.5.5.1 Middle East and Africa Basic Aromatics Market Revenue and Forecast and Analysis – by End Use
9.5.6 Middle East and Africa Basic Aromatics Market Revenue and Forecast and Analysis – by Country
9.5.6.1 Middle East and Africa Basic Aromatics Market Volume and Forecast and Analysis – by Country
9.5.6.2 Middle East and Africa Basic Aromatics Market Revenue and Forecast and Analysis – by Country
9.5.6.3 South Africa Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.3.1 South Africa Basic Aromatics Market Breakdown by Type
9.5.6.4 Saudi Arabia Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.4.1 Saudi Arabia Basic Aromatics Market Breakdown by Type
9.5.6.5 United Arab Emirates Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.5.1 United Arab Emirates Basic Aromatics Market Breakdown by Type
9.5.6.6 Rest of Middle East and Africa Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.5.6.6.1 Rest of Middle East and Africa Basic Aromatics Market Breakdown by Type
9.5.6.6.2 Rest of Middle East and Africa Basic Aromatics Market Breakdown by End Use
9.6 South and Central America
9.6.1 South and Central America Basic Aromatics Market Overview
9.6.2 South and Central America Basic Aromatics Market – Volume and Forecast to 2031 (Kilo Tons)
9.6.3 South and Central America Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.6.4 South and Central America Basic Aromatics Market Breakdown by Type
9.6.4.1 South and Central America Basic Aromatics Market Volume and Forecast and Analysis – by Type
9.6.4.2 South and Central America Basic Aromatics Market Revenue and Forecast and Analysis – by Type
9.6.5 South and Central America Basic Aromatics Market Breakdown by End Use
9.6.5.1 South and Central America Basic Aromatics Market Revenue and Forecast and Analysis – by End Use
9.6.6 South and Central America Basic Aromatics Market Revenue and Forecast and Analysis – by Country
9.6.6.1 South and Central America Basic Aromatics Market Volume and Forecast and Analysis – by Country
9.6.6.2 South and Central America Basic Aromatics Market Revenue and Forecast and Analysis – by Country
9.6.6.3 Brazil Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.6.6.3.1 Brazil Basic Aromatics Market Breakdown by Type
9.6.6.4 Argentina Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.6.6.4.1 Argentina Basic Aromatics Market Breakdown by Type
9.6.6.5 Rest of South and Central America Basic Aromatics Market – Revenue and Forecast to 2031 (US$ Million)
9.6.6.5.1 Rest of South and Central America Basic Aromatics Market Breakdown by Type
10. Competitive Landscape
10.1 Heat Map Analysis – By Key Players
10.2 Company Positioning & Concentration
11. Industry Landscape
11.1 Overview
11.2 Market Initiative
11.3 Merger and Acquisition
12. Company Profiles
12.1 The Dow Chemical Co
12.1.1 Key Facts
12.1.2 Business Description
12.1.3 Products and Services
12.1.4 Financial Overview
12.1.5 SWOT Analysis
12.1.6 Key Developments
12.2 Exxon Mobil Corp
12.2.1 Key Facts
12.2.2 Business Description
12.2.3 Products and Services
12.2.4 Financial Overview
12.2.5 SWOT Analysis
12.2.6 Key Developments
12.3 Lanxess AG
12.3.1 Key Facts
12.3.2 Business Description
12.3.3 Products and Services
12.3.4 Financial Overview
12.3.5 SWOT Analysis
12.3.6 Key Developments
12.4 Sasol Ltd
12.4.1 Key Facts
12.4.2 Business Description
12.4.3 Products and Services
12.4.4 Financial Overview
12.4.5 SWOT Analysis
12.4.6 Key Developments
12.5 LyondellBasell Industries NV
12.5.1 Key Facts
12.5.2 Business Description
12.5.3 Products and Services
12.5.4 Financial Overview
12.5.5 SWOT Analysis
12.5.6 Key Developments
12.6 BASF SE
12.6.1 Key Facts
12.6.2 Business Description
12.6.3 Products and Services
12.6.4 Financial Overview
12.6.5 SWOT Analysis
12.6.6 Key Developments
12.7 Nippon Steel Corp
12.7.1 Key Facts
12.7.2 Business Description
12.7.3 Products and Services
12.7.4 Financial Overview
12.7.5 SWOT Analysis
12.7.6 Key Developments
12.8 Shell Plc
12.8.1 Key Facts
12.8.2 Business Description
12.8.3 Products and Services
12.8.4 Financial Overview
12.8.5 SWOT Analysis
12.8.6 Key Developments
12.9 INEOS Group Holdings SA
12.9.1 Key Facts
12.9.2 Business Description
12.9.3 Products and Services
12.9.4 Financial Overview
12.9.5 SWOT Analysis
12.9.6 Key Developments
12.10 Jubilant Ingrevia Limited
12.10.1 Key Facts
12.10.2 Business Description
12.10.3 Products and Services
12.10.4 Financial Overview
12.10.5 SWOT Analysis
12.10.6 Key Developments
13. Appendix
13.1 About The Insight Partners