Market Summary
Research Methodology on Aromatic Solvents Market
Introduction:
This research will provide a comprehensive overview of the global Aromatic Solvents Market. The market is expected to witness a gradual growth during the forecast period (2023-2030). Aromatic solvents are a type of petroleum-based solvent used mainly in the petrochemical, printing inks, and coatings industries. It has numerous applications such as versatile solvents in degreasing, paint stripping, adhesive removers, and adhesives.
Research Methodology
The research methodology adopted for the present research report was a combination of desk research (secondary research) along direct interviews (primary research). The primary and secondary research was conducted in phases to ensure that the research was properly carried out most efficiently.
Secondary Research:
The primary focus of the secondary research was to procure relevant data and information regarding the Analytical Standard (API) Market from various sources such as industry websites, trade journals, press releases, and publications from government agencies. Along with this, unfolding market trends, growth prospects, dominant market players, segmentation and strategies were also identified through secondary research. Furthermore, various studies, reports and articles by industry experts were also reviewed to understand the dynamics of the Analytical Standard Market.
Primary Research:
Along with the secondary research, a stage of primary research was also included. Primary research was conducted through direct interviews with industry professionals, industry experts, industry stakeholders, and suppliers from various participants of the Analytical Standard Market. This helped ascertain the actual market size, key industry trends, and development strategies of the key players which will be highly beneficial for the overall report.
Research Approach:
To carry out effective research, three approaches were utilized to extrapolate the data and information from the secondary and primary sources incorporating both qualitative and quantitative parameters. These included Bottom-up Approach, Top-Down Approach, and Triangulation.
Bottom-up Approach:
The bottom-up approach is an analysis method that starts with the individual parts of the market and then works its way up to the whole. This approach was used to assess the market shares, size, and growth of the individual segments and their application in terms of revenue and volume. This helped extrapolate the overall size and growth of the global market.
Top-Down Approach:
The top-down approach worked in the reverse of the bottom-up approach. This involved dividing the overall market into prospects and segments based on geography, application, and segmentation. The overall size and growth rate of each geographies was then analyzed along with the key players, to understand the overall prospects of the Analytical Standard Market.
Triangulation:
The triangulation process involved gathering data from both primary and secondary sources to corroborate the various aspects of the market, such as global, regional, country-wise, and segment-wise. This process helped in ascertaining the actual growth and development strategies of the market players.
Data Verification and Validation:
The data and information gathered from the primary and secondary sources were analysed through various validations and estimations based on the triangulation process undertaken. This also included the demand-side and supply-side data triangulation. The data was then verified and analysed by our market research and analysis team to gain accurate insights into the global Analytical Standard Market.
Time-series Analysis:
The time-series analysis involved retrospection and subsequent projection of the market size and growth rate for the historical period 2071-2022, and the forecast period 2023-2030. This was undertaken in order to identify and analyze the historical and projected trends of the global Analytical Standard Market for both countries and regions.
Factor Analysis:
The factor analysis was conducted to understand the key drivers and restraints along with their anticipated impact on the growth and future prospects of the Analytical Standard Market. The macroeconomic factors were also taken into consideration along with the competitive landscape and opportunities therein.
Conclusion:
The research methodology employed in preparing this research report follows a comprehensive approach. This was done by garnering data through both secondary and primary sources along with the implementation of various approaches such as Bottom-up Approach, Top-Down Approach, Triangulation, Time-series Analysis, and Factor Analysis. This helped in providing precise insights into the market and the issues and opportunities therein.
Market Size & Forecast
Attribute/Metric | Details |
Market Size 2022 | USD 5,45 Billion |
Market Size 2023 | USD 6.2 Billion |
Market Size 2030 | USD 8.10 Billion |
Compound Annual Growth Rate (CAGR) | 4.8% (2023-2030) |
Base Year | 2023 |
Market Forecast Period | 2023-2030 |
Historical Data | 2018 & 2020 |
Market Forecast Units | Value (USD Billion) |
Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
Segments Covered | Product, Application, and Region |
Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
Countries Covered | The U.S, Canada, Germany, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
Key Companies Profiled | Exxon Mobil Corporation (U.S.), Celanese Corporation (U.S.), Royal Dutch Shell plc (U.K), Eastman Chemical Company (U.S.), BASF SE (Germany), LyondellBasell Industries Holdings B.V (Netherland), Chevron Phillips Chemical Company LLC (U.S), Honeywell International Inc (U.S.), Sasol Ltd and Ineos AG among others. |
Key Market Opportunities | The growing industrialization and urbanization in the developing regions throughout the globe. |
Key Market Dynamics | The demand from the end-use industries is a major factor driving the growth. |
Major Players
Aromatic Solvents Product Outlook (USD Billion, 2018-2030)
Benzene
Xylene
Toluene
Others
Aromatic Solvents Application Outlook (USD Billion, 2018-2030)
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
Aromatic Solvents Regional Outlook (USD Billion, 2018-2030)
North America Outlook (USD Billion, 2018-2030)
North America Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
North America Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
US Outlook (USD Billion, 2018-2030)
US Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
US Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
CANADA Outlook (USD Billion, 2018-2030)
CANADA Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
CANADA Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
Europe Outlook (USD Billion, 2018-2030)
Europe Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
Europe Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
Germany Outlook (USD Billion, 2018-2030)
Germany Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
Germany Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
France Outlook (USD Billion, 2018-2030)
France Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
France Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
others
UK Outlook (USD Billion, 2018-2030)
UK Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
UK Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
ITALY Outlook (USD Billion, 2018-2030)
ITALY Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
ITALY Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
SPAIN Outlook (USD Billion, 2018-2030)
Spain Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
Spain Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
Rest Of Europe Outlook (USD Billion, 2018-2030)
REST OF EUROPE Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
REST OF EUROPE Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
Asia-Pacific Outlook (USD Billion, 2018-2030)
Asia-Pacific Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
Asia-Pacific Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
China Outlook (USD Billion, 2018-2030)
China Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
China Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
Japan Outlook (USD Billion, 2018-2030)
Japan Aromatic Solvents by Product
Benzene
Xylene
Toluene
others
Japan Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
India Outlook (USD Billion, 2018-2030)
India Aromatic Solvents by Product
Benzene
Xylene
Toluene
others
India Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
Australia Outlook (USD Billion, 2018-2030)
Australia Aromatic Solvents by Product
Benzene
Xylene
Toluene
others
Australia Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
Rest of Asia-Pacific Outlook (USD Billion, 2018-2030)
Rest of Asia-Pacific Low-Profile Additives by Product
Benzene
Xylene
Toluene
Others
Rest of Asia-Pacific Low-Profile Additives by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
Rest of the World Outlook (USD Billion, 2018-2030)
Rest of the World Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
Rest of the World Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
Middle East Outlook (USD Billion, 2018-2030)
Middle East Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
Middle East Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
Africa Outlook (USD Billion, 2018-2030)
Africa Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
Africa Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
Latin America Outlook (USD Billion, 2018-2030)
Latin America Aromatic Solvents by Product
Benzene
Xylene
Toluene
Others
Latin America Aromatic Solvents by Application
OILFIELD CHEMICALSCEUTICALS
Automotive
Oilfield Chemicals
Paints & Coatings
Others
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