NEWS:Global Aromatic Solvent Market is projected to reach a value of over USD 10.8 billion by 2027

4 min readAug 4, 2020

Aromatic Solvent Market: Summary

The Global Aromatic Solvent Market is projected to reach a value of over USD 10.8 billion by 2027 at a CAGR of around 4.1%.

A solvent which contains aromatic hydrocarbons such as naptha, toluene or xylene are known as aromatic solvents. They are primarily used in various industrial fields such as oil & gas, automotive, pharmaceuticals, and others. Aromatic solvents has higher rate of solvency and resist corrosion owing to which it paves its usage in various end-use sectors. Additionally, its ability to modify the viscosity as per the curing rate helps to improve functionally and aesthetics of the outer layer painting in paint & coating application.

Aromatic Solvent Market: Drivers & Challenges

Market Driver:

  • Increasing demand from Paints & Coating Industry

Enhanced physical and chemical properties of specialty solvent and its extensive application in paints and coating industry has expected to surge the demand for aromatic solvent in paints & coating segments. Besides its chemical and physical properties, solvents are highly used as thinners and diluents in paints and coating industry. Increasing demand for the construction and automotive industry coupled with technological advancement has expected to boost the paint and coating market. According to OICA (International Organization of Motor Vehicle Manufacturers), in 2018 the total production of automotive vehicles was 95634593 units. Thus, growth in paints & coating industry has expected to boost the demand for aromatic solvent.

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Market Restraint:

  • Growing Awareness of Green Solvents

Various volatile organic compounds (VOC) are emitted into atmosphere during the manufacturing process of aromatic solvents. The awareness regarding harmful effects has inclined consumers shift towards environmental safe solvents. Additionally, the stringent regulations imposed by governments to control the VOC emission such as Carbon Dioxide (cO2), and others. For instance, Environmental Protection Agency (EPA), has introduced national ambient air quality standards (NAAQS) in order to control the VOC emission. Green solvents are environmental friendly solvents or biosolvents which are derived from processing agricultural crops.

Aromatic Solvent Market: Key Segments

  • Segmentation based on type: Toluene Solvents, Xylene Solvents, Ethylbenzene Solvents, and Others.
  • Segmentation based on application: Paints & Coating, Adhesives, Printing Inks, Cleaning & Degreasing, and Others.
  • Segmentation based on region covers: North America, South America, Europe, Asia-Pacific, Middle East & Africa and South America, with individual country-level analysis.

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Aromatic Solvent Market: Report Scope

The report on the aromatic solvent market covers a deep dive analysis of historic, recent and current market trends. Furthermore, market share/ranking analysis of key players, market dynamics, competition landscape, country-wise analysis for each region covered and the entire supply chain dynamics are covered through the below segmentation.

Report Features


Historical/Estimated/Forecasted Market Size Years


Base Year for Market Calculation


Forecasted Period

2021–2027 (2021 estimated year, forecasted up to 2027)

Measured Units

Value (USD Million), Volume (Kilotons)

Segments Included

Type, Application, and Region

Regional Coverage

North America, Asia-Pacific, Europe, Middle East & Africa, South Africa

Key Companies Covered

  • BASF SE (Company Description, Company Overview, Product Synopsis, Key Developments, SWOT Analysis)
  • Royal Dutch Shell plc
  • Exxon Mobil Corporation
  • Honeywell International Inc.
  • Eastman Chemical Company
  • LyondellBasell Industries Holdings B.V.
  • Chevron Phillips Chemical Company
  • Celanese Corporation
  • Huntsman International LLC
  • HCS Group
  • Total S.A.
  • Bharat Petroleum Corporation Limited
  • Gotham Industries
  • Other Key Companies

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Aromatic Solvent Market: Report Segmentation

For the scope of the report, In-depth segmentation is offered by Forencis Research

Aromatic Solvent Market, by Type

  • Toluene Solvents
  • Xylene Solvents
  • Ethylbenzene Solvents
  • Others

Aromatic Solvent Market, by Application

  • Paints & Coating
  • Adhesives
  • Printing Inks
  • Cleaning & Degeasing
  • Others

Aromatic Solvent Market, by Region

  • North America
  • US
  • Canada
  • Mexico
  • Asia-Pacific
  • China
  • India
  • Japan
  • South Korea
  • Rest of Asia-Pacific
  • Europe
  • Germany
  • UK
  • France
  • Italy
  • Rest of Europe
  • Middle East & Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East & Africa
  • South America
  • Brazil
  • Argentina
  • Rest of South America

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Table of Content

1 Introduction

2 Research Design & Scope

3 Executive Summary

4 Market Dynamics

5 Industry Trends — Porters Five Forces Analysis

6 GLOBAL AROMATIC SOLVENTS MARKET BY TYPE, Market Size in USD Million (2019–2027)



9 Competitive Landscape

10 Company Profiles

11 Appendix

About Forencis Research

Forencis Research is a B2B market research, intelligence and advisory firm engaging in market research and consulting services across leading industries, globally. Our robust and meticulous research team provides high growth and niche syndicated reports, customized reports and consulting reports to the diverse global fortune clientele and intellectual institutions. Forencis Research database is a constantly evolving pool of reports and white paper studies which helps companies to foster accelerated revenue growth in global and regional markets. Forencis Research delivers market research and consulting reports on high growth markets to help companies dominate their competition and set themselves apart by attaining increased revenue growth. To enable exclusive insights around the target market, Forencis Research employs robust research Methodology & Design which includes data acquisition, data synthesis and data correlation, through Primary and Secondary Research. Through the obtained data, Top-down and bottom-up methods are exercised to attain and verify data sanity within the entire market. This market data is yet again correlated with Forencis Research’s internal database before presenting it in any of our final publications. These methods of data correlation and amalgamation benefit us to put forward accurate market estimates enabling our clients to transform their business, markets and most importantly their “REVENUES”.

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