Global Aromatics Market
The global aromatics market is forecast to reach USD 323.88 Billion by 2027, according to a new report by Reports and Data. Aromatics are those hydrocarbons that consists of hydrogen and carbon. They are formed from crude oil and in small quantities from coal. The most significant aromatics are toluene, benzene, and xylene. Aromatics are used in a wide range of consumer product as a starting material. They are durable, comfortable, lightweight, and safe in design. The rising demand from the end-use industries is a major factor driving the growth of the global aromatics market. The rise in the demand for energy has amplified the oil & gas sector’s performance, which in turn is adding to the growth of the market due to its applications as a corrosion inhibitor in the oil & gas sector. Owing to the evolving industrialization in the developing countries, it is expected that the aromatic market will receive a push in the future
The report offers the latest impact of the COVID-19 crisis on the industry verticals. COVID-19 began in 2019 and has since then affected every country of the world, with the WHO declaring it as a public health emergency. The pandemic has brought dynamic changes in the industry as it has affected the supply chain, demands, trends, and overall market scenario. The report offers an initial and future impact assessment of the pandemic on key segments of the industry and offers revenue information in the post-pandemic scenario.
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The report is an engaging document that provides vital statistical information about the market in terms of dales, revenue, market share, and market size with regards to product types, application spectrum, regional bifurcation, leading players, and technological advancements.
A comprehensive analysis of the competitive landscape is offered in the report along with a study of the company profiles, product portfolio, manufacturing and production capacity, technological developments, R&D advancements, and strategic initiatives of the prominent players of the industry. Prominent players operating in the industry and profiled in the report include Exxon Mobile Corporation, SABIC, Shell Chemicals, Reliance Industries Limited, Dow, BP PLC, Canada Colors and Chemicals Limited, LyondellBasell, HCS Group GmbH, and Honeywell International Inc. among others.
The Global Aromatics Market is segmented as follows:
Type Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Benzene, Toluene, P-Xylene, Toluene Diisocyanate and Methylenediphenyl Diisocyanate, Cumene/Phenol
Application Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
End-Use Outlook (Revenue, USD Billion; Volume, Kilo Tons; 2016-2027)
Paint and Coating, Chemicals, Adhesives, Pharmaceuticals
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The report provides an explicit analysis of the market with regards to growth driving factors, restraining factors, regulatory framework, threats and opportunities, financial hurdles to offer a thorough outlook of the market. The report also covers value chain analysis, market share, market size, CAGR, sales and revenue, import/export, the scope of the market, growth prospects, and other key factors. The report offers a regional analysis that covers key geographies such as North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
The report applies advanced analytical tools such as SWOT analysis, Porter’s Five Forces analysis, along with feasibility analysis and investment return analysis. It also offers strategic recommendations to new entrants as well as established companies about market barriers. It also offers insights into futuristic business opportunities, market scope, threats, and obstacles, to enable fruitful business decision-making process.
Furthermore, the report renders a complete analysis of the Aromatics market that allows readers to formulate profitable and lucrative business strategies by offering insights into the competitive landscape, crucial market details, growth prospects, regional rules and regulations, and other key factors.
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