Market Research Future Published a Half-Cooked Research Report on Global Aromatics Market.
Aromatics are used in a wide variety of applications, which is capable of offering versatile nature, safety, and high performance to the product. Thus, they are used in various applications such as pharmaceuticals, automotive, paints & coating, oil & gas, chemicals, and others. The global aromatics market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the global market and is projected to continue leading, owing to the increasing consumption of aromatics in automotive, pharmaceuticals, paints & coatings, chemical, and others. It is estimated that the paints & coatings segment is set to observe the highest CAGR in the market due to the growing use of organic compounds to improve the performance and increase the life cycle of the product.
Sample Request @ https://www.marketresearchfuture.com/sample_request/930
Moreover, increasing demand for toluene as a solvent in paint thinners, nail polish removers, glues, and other products is likely to witness a rapid growth during the forecast period. These factors have led to China, India, and Japan to be the major players of this region.
The North American market is expected to grow at a higher CAGR due to extensive consumption of aromatics in paints & coating, oil & gas, chemicals, and others. The U.S., Canada, and Mexico have achieved a significant place in the market due to the growing investments in the end-use industries. Therefore, the growing demand for synthetic rubber and plastics made from aromatics are estimated to drive the market during the forecast period.
A notable development is achieved in Europe due to the growing demand for reduced weight materials electrical & electronics, packaging, and others. The growing innovation coupled with technology have boosted the market to witness a higher growth. Thus, countries such as Germany, the U.K, and Italy are the major contributors to this market.
A considerable development is predicted in the Latin American region such as in Brazil, Uruguay, and Argentina due to the growing consumption of hydrocarbons in major industries. Moreover, a rapid development is estimated in the Middle East & African region such as Qatar, the U.A.E, and others due to increasing production of aromatics in refineries.
Access Report Details @ https://www.marketresearchfuture.com/reports/aromatics-market-930
The global Aromatics Market Share, by Region
The global aromatics market is segmented into type and application. On the basis of product, the market is segregated into benzene, toluene, o-xylene, p-xylene, and rubber segments. The market by application is further categorized into paints & coating, automotive, pharmaceuticals, oil & gas, chemicals, and others.
Some of the well-known players operating in the global aromatics market are Eastman Chemical Company (U.S.), Ashland (U.S.), BASF SE (Germany), Huntsman Corporation (U.S.), Celanese Corporation (U.S.), Petrochem Carless Ltd.(U.K.), INEOS (Switzerland), The ExxonMobil Corporation (U.S.), Royal Dutch Shell plc(the Netherlands) and Honeywell International Inc. (U.S.) among others.
At Market Research Future (MRFR), we enable our customers to unravel the complexity of various industries through our Cooked Research Report (CRR), Half-Cooked Research Reports (HCRR), Raw Research Reports (3R), Continuous-Feed Research (CFR), and Market Research & Consulting Services.
MRFR team have supreme objective to provide the optimum quality market research and intelligence services to our clients. Our market research studies by products, services, technologies, applications, end users, and market players for global, regional, and country level market segments, enable our clients to see more, know more, and do more, which help to answer all their most important questions.
In order to stay updated with technology and work process of the industry, MRFR often plans & conducts meet with the industry experts and industrial visits for its research analyst members.
Market Research Future
+1 646 845 9312Email: email@example.com