Toluene Market
Toluene Market Analysis, By Grade (<98% and >98%), By End Use Industry and Region - Global Market Insights 2023 to 2033
Analysis of Toluene Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
FREE CustomizationToluene Market Growth Outlook (2023 to 2033)
Toluene is a mixture of long-chain hydrocarbons and it is used as a blending component for premium gasoline and for the production of benzene and Xylol. It is also used as a plasticizer, chemical intermediate, and polyester intermediate. It is an aromatic hydrocarbon that is widely used as an industrial feedstock.
Toluene is an effective solvent as, unlike water, it can dissolve many organic compounds. In many commercial products, toluene is used as a solvent that is present in paint thinners, nail polish remover, glues, and correction fluid. It is a very common component in substances like gasoline, glue, and other products.
With the diverse application of toluene, the market is expected to grow at a CAGR of 6.1% and is likely to create an absolute $ opportunity of US$ 20.2 billion in the coming years.
| Report Attributes | Details |
|---|---|
| Toluene Market Size (2022A) | US$ 22.3 Billion |
| Estimated Market Value (2023E) | US$ 23.6 Billion |
| Forecast Market Value (2033F) | US$ 42.5 Billion |
| Global Market Growth Rate (2023 to 2033) | 6.1% CAGR |
| North America Market Share Growth Rate (2023 to 2033) | 5.6% CAGR |
| Europe Market Forecast Market Value (2033F) | US$ 11.1 Billion |
| Key Companies Profiled | Arkema SA; Eastman Chemicals Company; Exxon Mobil; LG Chem; Mitsubishi Chemical Corporation; Reliance Industries Limited; Shell Global |
Historic and Future Pathway Analysis for the Toluene Market
Toluene is an aromatic hydrocarbon with the chemical formula C7H8. It is a clear, colorless liquid with a sweet, benzene-like odor. Toluene is derived from petroleum and is primarily used as an industrial solvent. It is sometimes used as an octane booster in gasoline. It enhances the combustion properties of gasoline and helps to improve engine performance. However, its use as a fuel additive is regulated due to environmental and health concerns.
- Short Term (2023 to 2026): The growing coatings and adhesives industry is expected to drive the toluene market growth in the coming years. Toluene is a key component in the production of solvents used in coatings and adhesives. As the demand for these products increases, so does the demand for toluene, leading to market growth and expansion in the toluene industry.
- Medium Term (2026 to 2029): The growing pharmaceutical industry in emerging economies fuels the demand for toluene, a key chemical used in the production of various drugs and medications.
- Long Term (2029 to 2033): Efforts led by market players in the toluene market, such as strategic partnerships and expanding distribution networks, drive long-term market growth. These initiatives enhance product quality, increase market reach, and foster sustainable development, ultimately attracting more customers and stimulating demand for toluene-based products.
On the back of the aforementioned facts, the toluene market is anticipated to grow at a CAGR of 6.1% during the forecast period from 2023 to 2033, According to the Fact.MR, a market research and competitive intelligence provider.
Market share analysis of toluene based on end-use industry and region is provided in a nutshell in the above image. Under the end use industry segment, the chemicals & petrochemicals industry sub-segment dominates with a 32.1% market share in 2023.
Market Dynamics Outlook
“Pullulating Electrical & Electronics Industry to Drive Toluene Demand”
Toluene is widely used as a solvent in the manufacturing of electronic components and devices. It is utilized in processes such as cleaning, degreasing, and thinning of coatings, adhesives, and resins. The expanding electronics industry, including the production of semiconductors, printed circuit boards (PCBs), and electronic components, drives the demand for toluene as a solvent.
Toluene is a key raw material for the production of polystyrene, a versatile plastic used in various applications, including electrical and electronic equipment. Polystyrene is used to manufacture computer housings, appliances, packaging materials, and insulation products. The growth of the electrical and electronics sector increases the demand for polystyrene, which, in turn, drives the demand for toluene.
“Factors Restraining the Growth of the Toluene Market”
Toluene is a major solvent used across the paints & adhesive industry but there are many hindrances to the market growth. Toluene is similar to green chemicals but lacks the coordinating oxygen of the oxolane family of solvents. For instance, Ethyl lactate has replaced solvents such as toluene, acetone, and xylene because its bio-based and doesn’t harm the environment like toluene.
Different regulations and sanctions implied by the EU and North America, in order to meet zero-carbon footprint by 2050, have created a setback for the market. Similarly, Bureau of Indian Standards (BIS) and FSSAI (Food Safety and Standards Authority of India) have banned the usage of toluene in food packaging printing ink. It has been due to the hazardous nature of the chemical and its adverse health effects.
Country-wise Insights
What are the Factors Driving Toluene Demand across India?
The growing Indian pharmaceutical industry has a significant impact on the demand for toluene. India's position as the largest provider of generic medicines globally drives the production of pharmaceuticals in the country, leading to an increased demand for raw materials and solvents like toluene.
Toluene is commonly used as a solvent in the pharmaceutical industry due to its excellent solvent properties, including its ability to dissolve a wide range of compounds. It is used in various stages of drug manufacturing, such as extraction, purification, and formulation processes. Toluene helps in the extraction of active pharmaceutical ingredients (APIs) from natural sources and aids in the formulation of drugs in liquid or solid dosage forms.
As a result, the robust growth of the Indian pharmaceutical industry, fueled by its global exports and leadership in generic medicines, drives the demand for toluene as a vital solvent in the production and formulation of drugs.
Why US’ Toluene Market is Flourishing?
With the rising investment in oil and gas energy, there will be a parallel expansion of China's refining and petrochemical industry. Toluene is a vital raw material in the production of various chemicals, including benzene, xylenes, and other aromatic compounds. The growth of the refining and petrochemical sectors will consequently drive the demand for toluene.
Further, toluene can also serve as a feedstock for energy production, particularly in the form of toluene diisocyanate (TDI). TDI is used in the production of polyurethane foams and coatings, which are widely used in construction and automotive industries. As China invests in renewable energy sources, there may be a need to produce energy-storage materials or alternatives, where toluene-based products like TDI could play a role. This could further drive the demand for toluene.
Category-wise Insights
Why <98% Grade Toluene is Widely Preferred?
<98% grade toluene is typically less expensive compared to higher purity grades. It is often used in applications where the exact purity level is not critical. Industries looking for cost-effective solutions prefer <98% grade toluene as a suitable alternative to higher purity grades, especially when stringent purity requirements are not necessary.
Toluene is widely used as a solvent in various industries such as paints, coatings, adhesives, and printing inks. In certain solvent applications, the exact purity level of toluene may not significantly impact the performance or quality of the final product. Consequently, industries opt for <98% grade toluene to meet their solvent requirements while minimizing costs.
<98% grade toluene is expected to account for a market share of 88.9% in 2023.
Which End-Use Industry is Gaining Traction in Toluene Market?
The chemicals and petrochemicals industry is expected to account for a market share of 32.1% in 2023, growing at a CAGR of 6.4% during the forecast period.
Toluene serves as a crucial raw material in the production of a wide range of chemicals and petrochemicals. It is a vital component in the synthesis of benzene, xylenes, and other aromatic compounds. These compounds find applications in the manufacturing of solvents, adhesives, coatings, polymers, resins, dyes, pharmaceuticals, and many other products. As the demand for these chemicals and petrochemicals increases, so does the demand for toluene.
Further, toluene possesses excellent solvent properties, making it valuable in various industries. It is used as a solvent in paints, coatings, varnishes, printing inks, and adhesives. As the chemicals and petrochemicals industry expands, the demand for solvents like toluene also rises, driving the growth of the toluene market.
Eminent Player’s Key Stratagems
Prominent players operating in the toluene market are Arkema SA, Eastman Chemicals Company, Exxon Mobil, LG Chem, Mitsubishi Chemical Corporation, Reliance Industries Limited, and Shell Global.
Companies focusing on expanding their production capacity to meet the increasing demand for toluene. This strategy involves investing in new manufacturing facilities or upgrading existing ones to enhance production capabilities. Expanding production capacity allows companies to cater to a larger customer base and seize market opportunities.
Fact.MR has provided detailed information about the price points of key manufacturers of toluene positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Toluene Industry Research
-
By Grade :
- <98%
- >98%
-
By End-Use Industry :
- Chemicals & Petrochemicals
- Plastics & Rubber
- Energy (Oil & Gas)
- Pharmaceuticals
- Electrical & Electronics
- Coatings & Adhesives
- Others
-
By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
Table of Content
- 1. Market - Executive Summary
- 2. Market Overview
- 3. Market Background and Foundation Data
- 4. Global Demand (Tons) Analysis and Forecast
- 5. Global Market - Pricing Analysis
- 6. Global Market Value (US$ million) Analysis and Forecast
- 7. Global Market Analysis and Forecast, By Grade
- 7.1. <98%
- 7.2. >98%
- 8. Global Market Analysis and Forecast, By End Use Industry
- 8.1. Chemicals & Petrochemicals
- 8.2. Plastics & Rubber
- 8.3. Energy (Oil & Gas)
- 8.4. Pharmaceuticals
- 8.5. Electrical & Electronics
- 8.6. Coatings & Adhesives
- 8.7. Others
- 9. Global Market Analysis and Forecast, By Region
- 9.1. North America
- 9.2. Latin America
- 9.3. Europe
- 9.4. East Asia
- 9.5. South Asia & Oceania
- 9.6. Middle East & Africa
- 10. North America Market Analysis and Forecast
- 11. Latin America Market Analysis and Forecast
- 12. Europe Market Analysis and Forecast
- 13. East Asia Market Analysis and Forecast
- 14. South Asia & Oceania Market Analysis and Forecast
- 15. Middle East & Africa Market Analysis and Forecast
- 16. Country-level Market Analysis and Forecast
- 17. Market Structure Analysis
- 18. Market Competition Analysis
- 18.1. Arkema S.A
- 18.2. BASF SE
- 18.3. Chevron Phillips Chemical Company LLC
- 18.4. Eastman Chemical Company
- 18.5. ExxonMobil Corporation
- 18.6. GS Caltex
- 18.7. INEOS Group
- 18.8. LG Chem
- 18.9. LOTTE Chemical Titan
- 18.10. Mitsubishi Chemical Corporation
- 18.11. PTT Global Chemical Public Company Limited
- 18.12. Reliance Industries Limited
- 18.13. Shell Global
- 18.14. Sinopec
- 18.15. TotalEnergies
- 18.16. Other Prominent Players
- 19. Assumptions & Acronyms Used
- 20. Research Methodology
List Of Table
Table 1: Global Market Value (US$ million), By Region, 2018 to 2022
Table 2: Global Market Value (US$ million) and Forecast By Region, 2023 to 2033
Table 3: Global Market Volume (Tons), By Region, 2018 to 2022
Table 4: Global Market Volume (Tons) and Forecast By Region, 2023 to 2033
Table 5: Global Market Value (US$ million), By Grade, 2018 to 2022
Table 6: Global Market Value (US$ million) and Forecast By Grade, 2023 to 2033
Table 7: Global Market Volume (Tons), By Grade, 2018 to 2022
Table 8: Global Market Volume (Tons) and Forecast By Grade, 2023 to 2033
Table 9: Global Market Value (US$ million), By End Use Industry, 2018 to 2022
Table 10: Global Market Value (US$ million) and Forecast By End Use Industry, 2023 to 2033
Table 11: Global Market Volume (Tons), By End Use Industry, 2018 to 2022
Table 12: Global Market Volume (Tons) and Forecast By End Use Industry, 2023 to 2033
Table 13: North America Market Value (US$ million), By Country, 2018 to 2022
Table 14: North America Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 15: North America Market Volume (Tons), By Country, 2018 to 2022
Table 16: North America Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 17: North America Market Value (US$ million), By Grade, 2018 to 2022
Table 18: North America Market Value (US$ million) and Forecast By Grade, 2023 to 2033
Table 19: North America Market Volume (Tons), By Grade, 2018 to 2022
Table 20: North America Market Volume (Tons) and Forecast By Grade, 2023 to 2033
Table 21: North America Market Value (US$ million), By End Use Industry, 2018 to 2022
Table 22: North America Market Value (US$ million) and Forecast By End Use Industry, 2023 to 2033
Table 23: North America Market Volume (Tons), By End Use Industry, 2018 to 2022
Table 24: North America Market Volume (Tons) and Forecast By End Use Industry, 2023 to 2033
Table 25: Latin America Market Value (US$ million), By Country, 2018 to 2022
Table 26: Latin America Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 27: Latin America Market Volume (Tons), By Country, 2018 to 2022
Table 28: Latin America Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 29: Latin America Market Value (US$ million), By Grade, 2018 to 2022
Table 30: Latin America Market Value (US$ million) and Forecast By Grade, 2023 to 2033
Table 31: Latin America Market Volume (Tons), By Grade, 2018 to 2022
Table 32: Latin America Market Volume (Tons) and Forecast By Grade, 2023 to 2033
Table 33: Latin America Market Value (US$ million), By End Use Industry, 2018 to 2022
Table 34: Latin America Market Value (US$ million) and Forecast By End Use Industry, 2023 to 2033
Table 35: Latin America Market Volume (Tons), By End Use Industry, 2018 to 2022
Table 36: Latin America Market Volume (Tons) and Forecast By End Use Industry, 2023 to 2033
Table 37: Europe Market Value (US$ million), By Country, 2018 to 2022
Table 38: Europe Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 39: Europe Market Volume (Tons), By Country, 2018 to 2022
Table 40: Europe Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 41: Europe Market Value (US$ million), By Grade, 2018 to 2022
Table 42: Europe Market Value (US$ million) and Forecast By Grade, 2023 to 2033
Table 43: Europe Market Volume (Tons), By Grade, 2018 to 2022
Table 44: Europe Market Volume (Tons) and Forecast By Grade, 2023 to 2033
Table 45: Europe Market Value (US$ million), By End Use Industry, 2018 to 2022
Table 46: Europe Market Value (US$ million) and Forecast By End Use Industry, 2023 to 2033
Table 47: Europe Market Volume (Tons), By End Use Industry, 2018 to 2022
Table 48: Europe Market Volume (Tons) and Forecast By End Use Industry, 2023 to 2033
Table 49: East Asia Market Value (US$ million), By Country, 2018 to 2022
Table 50: East Asia Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 51: East Asia Market Volume (Tons), By Country, 2018 to 2022
Table 52: East Asia Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 53: East Asia Market Value (US$ million), By Grade, 2018 to 2022
Table 54: East Asia Market Value (US$ million) and Forecast By Grade, 2023 to 2033
Table 55: East Asia Market Volume (Tons), By Grade, 2018 to 2022
Table 56: East Asia Market Volume (Tons) and Forecast By Grade, 2023 to 2033
Table 57: East Asia Market Value (US$ million), By End Use Industry, 2018 to 2022
Table 58: East Asia Market Value (US$ million) and Forecast By End Use Industry, 2023 to 2033
Table 59: East Asia Market Volume (Tons), By End Use Industry, 2018 to 2022
Table 60: East Asia Market Volume (Tons) and Forecast By End Use Industry, 2023 to 2033
Table 61: South Asia & Oceania Market Value (US$ million), By Country, 2018 to 2022
Table 62: South Asia & Oceania Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 63: South Asia & Oceania Market Volume (Tons), By Country, 2018 to 2022
Table 64: South Asia & Oceania Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 65: South Asia & Oceania Market Value (US$ million), By Grade, 2018 to 2022
Table 66: South Asia & Oceania Market Value (US$ million) and Forecast By Grade, 2023 to 2033
Table 67: South Asia & Oceania Market Volume (Tons), By Grade, 2018 to 2022
Table 68: South Asia & Oceania Market Volume (Tons) and Forecast By Grade, 2023 to 2033
Table 69: South Asia & Oceania Market Value (US$ million), By End Use Industry, 2018 to 2022
Table 70: South Asia & Oceania Market Value (US$ million) and Forecast By End Use Industry, 2023 to 2033
Table 71: South Asia & Oceania Market Volume (Tons), By End Use Industry, 2018 to 2022
Table 72: South Asia & Oceania Market Volume (Tons) and Forecast By End Use Industry, 2023 to 2033
Table 73: MEA Market Value (US$ million), By Country, 2018 to 2022
Table 74: MEA Market Value (US$ million) and Forecast By Country, 2023 to 2033
Table 75: MEA Market Volume (Tons), By Country, 2018 to 2022
Table 76: MEA Market Volume (Tons) and Forecast By Country, 2023 to 2033
Table 77: MEA Market Value (US$ million), By Grade, 2018 to 2022
Table 78: MEA Market Value (US$ million) and Forecast By Grade, 2023 to 2033
Table 79: MEA Market Volume (Tons), By Grade, 2018 to 2022
Table 80: MEA Market Volume (Tons) and Forecast By Grade, 2023 to 2033
Table 81: MEA Market Value (US$ million), By End Use Industry, 2018 to 2022
Table 82: MEA Market Value (US$ million) and Forecast By End Use Industry, 2023 to 2033
Table 83: MEA Market Volume (Tons), By End Use Industry, 2018 to 2022
Table 84: MEA Market Volume (Tons) and Forecast By End Use Industry, 2023 to 2033
List Of Figures
Figure 1: Global Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 2: Global Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 3: Global Market Value (US$ million) and Volume (Tons) By Region, 2023 & 2033
Figure 4: Global Market Y-o-Y Growth Rate By Region, 2023 to 2033
Figure 5: Global Market Value (US$ million) and Volume (Tons) By Grade, 2023 & 2033
Figure 6: Global Market Y-o-Y Growth Rate By Grade, 2023 to 2033
Figure 7: Global Market Value (US$ million) and Volume (Tons) By End Use Industry, 2023 & 2033
Figure 8: Global Market Y-o-Y Growth Rate By End Use Industry, 2023 to 2033
Figure 9: North America Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 10: North America Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 11: North America Market Value (US$ million) and Volume (Tons) By Country, 2023 & 2033
Figure 12: North America Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 13: North America Market Value (US$ million) and Volume (Tons) By Grade, 2023 & 2033
Figure 14: North America Market Y-o-Y Growth Rate By Grade, 2023 to 2033
Figure 15: North America Market Value (US$ million) and Volume (Tons) By End Use Industry, 2023 & 2033
Figure 16: North America Market Y-o-Y Growth Rate By End Use Industry, 2023 to 2033
Figure 17: North America Market Attractiveness Analysis By Country, 2023 to 2033
Figure 18: North America Market Attractiveness Analysis By Grade, 2023 to 2033
Figure 19: North America Market Attractiveness Analysis By End Use Industry, 2023 to 2033
Figure 20: Latin America Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 21: Latin America Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 22: Latin America Market Value (US$ million) and Volume (Tons) By Country, 2023 & 2033
Figure 23: Latin America Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 24: Latin America Market Value (US$ million) and Volume (Tons) By Grade, 2023 & 2033
Figure 25: Latin America Market Y-o-Y Growth Rate By Grade, 2023 to 2033
Figure 26: Latin America Market Value (US$ million) and Volume (Tons) By End Use Industry, 2023 & 2033
Figure 27: Latin America Market Y-o-Y Growth Rate By End Use Industry, 2023 to 2033
Figure 28: Latin America Market Attractiveness Analysis By Country, 2023 to 2033
Figure 29: Latin America Market Attractiveness Analysis By Grade, 2023 to 2033
Figure 30: Latin America Market Attractiveness Analysis By End Use Industry, 2023 to 2033
Figure 31: Europe Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 32: Europe Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 33: Europe Market Value (US$ million) and Volume (Tons) By Country, 2023 & 2033
Figure 34: Europe Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 35: Europe Market Value (US$ million) and Volume (Tons) By Grade, 2023 & 2033
Figure 36: Europe Market Y-o-Y Growth Rate By Grade, 2023 to 2033
Figure 37: Europe Market Value (US$ million) and Volume (Tons) By End Use Industry, 2023 & 2033
Figure 38: Europe Market Y-o-Y Growth Rate By End Use Industry, 2023 to 2033
Figure 39: Europe Market Attractiveness Analysis By Country, 2023 to 2033
Figure 40: Europe Market Attractiveness Analysis By Grade, 2023 to 2033
Figure 41: Europe Market Attractiveness Analysis By End Use Industry, 2023 to 2033
Figure 42: East Asia Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 43: East Asia Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 44: East Asia Market Value (US$ million) and Volume (Tons) By Country, 2023 & 2033
Figure 45: East Asia Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 46: East Asia Market Value (US$ million) and Volume (Tons) By Grade, 2023 & 2033
Figure 47: East Asia Market Y-o-Y Growth Rate By Grade, 2023 to 2033
Figure 48: East Asia Market Value (US$ million) and Volume (Tons) By End Use Industry, 2023 & 2033
Figure 49: East Asia Market Y-o-Y Growth Rate By End Use Industry, 2023 to 2033
Figure 50: East Asia Market Attractiveness Analysis By Country, 2023 to 2033
Figure 51: East Asia Market Attractiveness Analysis By Grade, 2023 to 2033
Figure 52: East Asia Market Attractiveness Analysis By End Use Industry, 2023 to 2033
Figure 53: South Asia & Oceania Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 54: South Asia & Oceania Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 55: South Asia & Oceania Market Value (US$ million) and Volume (Tons) By Country, 2023 & 2033
Figure 56: South Asia & Oceania Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 57: South Asia & Oceania Market Value (US$ million) and Volume (Tons) By Grade, 2023 & 2033
Figure 58: South Asia & Oceania Market Y-o-Y Growth Rate By Grade, 2023 to 2033
Figure 59: South Asia & Oceania Market Value (US$ million) and Volume (Tons) By End Use Industry, 2023 & 2033
Figure 60: South Asia & Oceania Market Y-o-Y Growth Rate By End Use Industry, 2023 to 2033
Figure 61: South Asia & Oceania Market Attractiveness Analysis By Country, 2023 to 2033
Figure 62: South Asia & Oceania Market Attractiveness Analysis By Grade, 2023 to 2033
Figure 63: South Asia & Oceania Market Attractiveness Analysis By End Use Industry, 2023 to 2033
Figure 64: MEA Market Value (US$ million) and Volume (Tons) Forecast, 2023 to 2033
Figure 65: MEA Market Absolute $ Opportunity (US$ million), 2023 to 2033
Figure 66: MEA Market Value (US$ million) and Volume (Tons) By Country, 2023 & 2033
Figure 67: MEA Market Y-o-Y Growth Rate By Country, 2023 to 2033
Figure 68: MEA Market Value (US$ million) and Volume (Tons) By Grade, 2023 & 2033
Figure 69: MEA Market Y-o-Y Growth Rate By Grade, 2023 to 2033
Figure 70: MEA Market Value (US$ million) and Volume (Tons) By End Use Industry, 2023 & 2033
Figure 71: MEA Market Y-o-Y Growth Rate By End Use Industry, 2023 to 2033
Figure 72: MEA Market Attractiveness Analysis By Country, 2023 to 2033
Figure 73: MEA Market Attractiveness Analysis By Grade, 2023 to 2033
Figure 74: MEA Market Attractiveness Analysis By End Use Industry, 2023 to 2033
- FAQs -
What is the Expected Valuation Market Likely to Reach by 2033?
The toluene market is likely to reach a valuation of US$ 42.5 billion by the end of 2033.
Which Grade is Expected to Account for a Major Market Share?
<98% type is expected to dominate the toluene market accounting for a market share of 88.9% in 2023.
What is the Expected Absolute Dollar Opportunity Created by the North America Toluene Market?
The North American toluene market is likely to create an absolute $ opportunity of US$ 3.5 billion.
Which End Use Industry Has High Demand for Toluene?
The chemicals & petrochemicals industry is expected to hold a market share of 32.1% in 2023.
At what Rate Toluene Market is Likely to Grow?
The toluene market is likely to grow at a rate of 6.1% and create an absolute $ opportunity of US$ 20.2 billion during the forecast period.
Toluene Market