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Toluene Market Report and Forecast 2024-2032

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    Report

  • 184 Pages
  • December 2023
  • Region: Global
  • Expert Market Research
  • ID: 5921521
According to the report, the global toluene market is projected to grow at a CAGR of 5.3% between 2024 and 2032 reaching a value of approximate USD 45.12 billion by 2032.. Aided by the surging demand for aromatics in the petrochemical industry and rapid industrialisation, the market is expected to grow significantly by 2032.

Toluene, often recognised by its older name, toluol, is an aromatic hydrocarbon. Emanating predominantly from crude oil and its refined products, toluene is a critical component in gasoline. Its applications, however, are not just confined to being a fuel additive. Toluene is revered as a solvent, used extensively in paints, thinners, adhesives, and even some chemical reactants.

Toluene is used in producing benzene and xylene – two chemicals essential in the synthesis of various commercial products and is considered one of the major toluene market trends. Benzene, for instance, acts as a vital precursor to several polymers and resins used in textiles and polymers. Concurrently, xylene finds its application in the production of polyesters, which in turn, is quintessential in textile and packaging industries.

Among various sources fuelling the toluene market growth, the burgeoning construction industry emerges prominently. With urbanisation galloping at unprecedented rates, the demand for infrastructural developments is rising. This has spurred the consumption of paints and coatings, with toluene being an indispensable solvent in many of these products. Furthermore, the automotive industry, with its colossal demands for rubber and resins, further bolsters the toluene demand, given its role in synthesising these materials.

A deep toluene market analysis also unveils its significance in the pharmaceutical sector. Toluene plays a pivotal role in the synthesis of certain pharmaceutical compounds. Additionally, its application as a solvent in the research and development stages of drug development has proven invaluable.

Rising demands from the cosmetics sector is also contributing to the growing toluene market demand. Toluene, while now phased out from many nail polish formulations due to potential health implications, still finds its way into the production of various other cosmetic products. Its role in creating dyes and pigments is particularly noteworthy, and the cosmetic industry's ceaseless growth only prognosticates an upward trajectory for toluene's demand in this sector. As industries expand and innovations thrive, the role of toluene in shaping and facilitating these advancements is both undeniable and indispensable.

Market Segmentation

The market can be divided based on technology, application, and region.

Market Breakup by Technology

  • Reformation Process
  • Pygas Process
  • Coke/Coal Process
  • Styrene Process

Market Breakup by Application

  • Gasoline
  • STDP/TPX
  • Solvents
  • Trans Alkylation (TA)
  • Hydrodealkylation
  • Toluene Diisocyanate (TDI)
  • Toluene Disproportionation (TDP)

Market Breakup by Region

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East and Africa

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the global toluene market. Some of the major players explored in the report are as follows:
  • Exxon Mobil Corporation
  • Versalis S.p.A.
  • Chevron Phillips Chemical Company
  • Others

Table of Contents

1 Preface2 Report Coverage - Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Toluene Market Analysis
8.1 Key Industry Highlights
8.2 Global Toluene Historical Market (2018-2023)
8.3 Global Toluene Market Forecast (2024-2032)
8.4 Global Toluene Market by Technology
8.4.1 Reformation Process
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Pygas Process
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Coke/Coal Process
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Styrene Process
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.5 Global Toluene Market by Application
8.5.1 Gasoline
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 STDP/TPX
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Solvents
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Trans Alkylation (TA)
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Hydrodealkylation
8.5.5.1 Historical Trend (2018-2023)
8.5.5.2 Forecast Trend (2024-2032)
8.5.6 Toluene Diisocyanate (TDI)
8.5.6.1 Historical Trend (2018-2023)
8.5.6.2 Forecast Trend (2024-2032)
8.5.7 Toluene Disproportionation (TDP)
8.5.7.1 Historical Trend (2018-2023)
8.5.7.2 Forecast Trend (2024-2032)
8.6 Global Toluene Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Toluene Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Toluene Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Toluene Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Toluene Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Toluene Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter's Five Forces Analysis
14.2.1 Supplier's Power
14.2.2 Buyer's Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Trade Analysis (HS Code - 290230)
16.1 Major Importing Countries
16.1.1 By Volume
16.1.2 By Value
16.2 Major Exporting Countries
16.2.1 By Volume
16.2.2 By Value
17 Price Analysis
17.1 North America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.2 Europe Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.3 Asia Pacific Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.4 Latin America Historical Price Trends (2018-2023) and Forecast (2024-2032)
17.5 Middle East and Africa Historical Price Trends (2018-2023) and Forecast (2024-2032)
18 Manufacturing Process
18.1 Overview
18.2 Detailed Process Flow
18.3 Operation Involved
19 Competitive Landscape
19.1 Market Structure
19.2 Company Profiles
19.2.1 Exxon Mobil Corporation
19.2.1.1 Company Overview
19.2.1.2 Product Portfolio
19.2.1.3 Demographic Reach and Achievements
19.2.1.4 Certifications
19.2.2 Versalis S.p.A.
19.2.2.1 Company Overview
19.2.2.2 Product Portfolio
19.2.2.3 Demographic Reach and Achievements
19.2.2.4 Certifications
19.2.3 Chevron Phillips Chemical Company
19.2.3.1 Company Overview
19.2.3.2 Product Portfolio
19.2.3.3 Demographic Reach and Achievements
19.2.3.4 Certifications
19.3.4 Others
20 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Toluene Market: Key Industry Highlights, 2018 and 2032
2. Global Toluene Historical Market: Breakup by Technology (USD Million), 2018-2023
3. Global Toluene Market Forecast: Breakup by Technology (USD Million), 2024-2032
4. Global Toluene Historical Market: Breakup by Application (USD Million), 2018-2023
5. Global Toluene Market Forecast: Breakup by Application (USD Million), 2024-2032
6. Global Toluene Historical Market: Breakup by Region (USD Million), 2018-2023
7. Global Toluene Market Forecast: Breakup by Region (USD Million), 2024-2032
8. North America Toluene Historical Market: Breakup by Country (USD Million), 2018-2023
9. North America Toluene Market Forecast: Breakup by Country (USD Million), 2024-2032
10. Europe Toluene Historical Market: Breakup by Country (USD Million), 2018-2023
11. Europe Toluene Market Forecast: Breakup by Country (USD Million), 2024-2032
12. Asia Pacific Toluene Historical Market: Breakup by Country (USD Million), 2018-2023
13. Asia Pacific Toluene Market Forecast: Breakup by Country (USD Million), 2024-2032
14. Latin America Toluene Historical Market: Breakup by Country (USD Million), 2018-2023
15. Latin America Toluene Market Forecast: Breakup by Country (USD Million), 2024-2032
16. Middle East and Africa Toluene Historical Market: Breakup by Country (USD Million), 2018-2023
17. Middle East and Africa Toluene Forecast: Breakup by Country (USD Million), 2024-2032
18. Major Importing Countries by Volume (2020)
19. Major Exporting Countries by Volume (2020)
20. Major Importing Countries by Value (2020)
21. Major Exporting Countries by Value (2020)
22. North America Historical Price Trends and Forecast 2018-2028
23. Europe Historical Price Trends and Forecast 2018-2028
24. Asia Pacific Historical Price Trends and Forecast 2018-2028
25. Latin America Historical Price Trends and Forecast 2018-2028
26. Middle East and Africa Historical Price Trends and Forecast 2018-2028
27. Global Toluene Market Structure

Companies Mentioned

  • Exxon Mobil Corporation
  • Versalis S.p.A.
  • Chevron Phillips Chemical Company

Methodology

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