"Innovative Market Solutions to Help Businesses Make Informed Decisions"
Toluene is a colourless liquid with characteristic benzene-like odour. It is highly volatile and is irritant to nose, lungs, eyes and skin. It is found in low quantities in the crude oil. It is separated while manufacturing gasoline via catalytic reforming or in ethylene cracking or coke manufacturing from coal. Distillation or solvent extraction process is used to separate toluene. It is prominently used for manufacturing bulk chemicals such as benzene and Xylenes. Also, derivatives such as toluene diisocyanate (TDI) are of great industrial importance. TDI is used in the manufacturing of flexible polyurethane foams. Other applications of TDI include manufacturing of coatings & elastomers. Toluene is available in 3 standard grades as TDI grade, nitration grade and commercial grade. Nitration grade is extensively used for manufacturing downstream nitro compounds of toluene such as trinitrotoluene (TNT).
Benzene, Xylene, etc. are the prime consumers of toluene. More than half of the global toluene produced is used in the manufacturing of benzene, xylene and associated derivatives. These derivatives have wide range of applications in various industries such as paints & coatings, chemical manufacturing, pharmaceuticals, mining, construction, military, etc. Thus, the demand for toluene is continuously increasing due to commercial importance and strong roots in core chemical manufacturing.
Key Market Driver -
Strong demand of toluene for the production of wide range bulk chemicals drives the global market.
Key Market Restraint -
Fluctuating crude oil prices affects the pricing of downstream products that restricts the market growth.
However, toluene prices are highly susceptible to the fluctuating prices of crude oil. Any irregularity in the production of crude oil hampers the supply of toluene. However, there is enough installed capacity of toluene in the world to support and fulfil the demand. Moreover, its high volatility exposes it to various health and safety regulations. In many parts of the world, it is exploited by it use as recreational drug as it is commonly found in marker inks, paints, etc. that are easily available in the market. Its toxic nature can cause poisoning (toluene poisoning) after long exposures. Symptoms of toluene poisoning include CNS effect like drowsiness, hallucinations, ataxia, coma, etc., vomiting, respiratory depression and others.
On the basis of grade, the toluene market is segmented into TDI grade, nitration grade and commercial grade. Based on derivative, the market is segmented into Benzene and Xylene, toluene diisocyanate (TDI), Gasoline Additive and other. On the basis of application, the toluene market is segmented into solvent, chemical intermediate, and others.
From a geographical standpoint, the market is categorized into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.
The global toluene market is highly fragmented with large number of key players operating in the market. Some of the prominent manufacturers in the global toluene market include- The Dow Chemical Company, Exxon Mobil Corporation, SK Innovation, Husky Energy Inc., BASF SE, Covestro AG, LyondellBasell Industries Holdings B.V., CPC Corporation, Taiwan, Royal Dutch Shell PLC, Formosa Chemicals & Fibre Corp, Chevron Philips Chemicals, Braskem SA, and others.
To gain extensive insights into the market, Request for Customization
On a geographical basis, the toluene market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. Asia-Pacific dominates the global toluene market on the back of healthy consumption in countries like China, South Korea, India, Taiwan and Japan. The strong industrial demand as a result of rapid development and globalisation has driven the market. The emerging economies such as India & China are expected to drive the market over the forecast period on the back of increased consumption of toluene downstream derivatives. However, the US-China trade war has capped the import demand in China. Further escalation of the trade conflict may hamper the market growth over the forecast period. North America is the second largest consumer of toluene in the world with the United States dominating the regional markets. The demand in the region is steady and imports from Asia have depressed the profit margins of the regional manufacturers. The changing regulatory and trade policies around the world can impact the market growth over the foreseeable period. Europe region witnessed high toluene prices due to increasing crude oil and production hiccups in the region. The trade policy changes after the BREXIT deal may affect the regional market over the forecast period. The political & economic turmoil in Latin America region has impacted the growth of the regional market in the recent years. However, the market is expected to gain steady momentum with the improvements in these conditions. Middle East & Africa is the net exporter of toluene owing to the presence of multiple production facilities in the region. The region is expected to witness only a moderate growth over the forecast period due to political instability and constant conflicts in the region.
Toluene Industrial Developments
“We are happy with the professionalism of your in-house research team as well as the quality of your research reports. Looking forward to work together on similar projects”- One of the Leading Food Companies in Germany
“We appreciate the teamwork and efficiency for such an exhaustive and comprehensive report. The data offered to us was exactly what we were looking for. Thank you!”- Intuitive Surgical
“I recommend Fortune Business Insights for their honesty and flexibility. Not only that they were very responsive and dealt with all my questions very quickly but they also responded honestly and flexibly to the detailed requests from us in preparing the research report. We value them as a research company worthy of building long-term relationships.”- Major Food Company in Japan
“Well done Fortune Business Insights! The report covered all the points and was very detailed. Looking forward to work together in the future”- Ziering Medical
“It has been a delightful experience working with you guys. Thank you Fortune Business Insights for your efforts and prompt response”- Major Manufacturer of Precision Machine Parts in India
“I had a great experience working with Fortune Business Insights. The report was very accurate and as per my requirements. Very satisfied with the overall report as it has helped me to build strategies for my business”- Hewlett-Packard
“This is regarding the recent report I bought from Fortune Business insights. Remarkable job and great efforts by your research team. I would also like to thank the back end team for offering a continuous support and stitching together a report that is so comprehensive and exhaustive”- Global Management Consulting Firm
“Please pass on our sincere thanks to the whole team at Fortune Business Insights. This is a very good piece of work and will be very helpful to us going forward. We know where we will be getting business intelligence from in the future.”- UK-based Start-up in the Medical Devices Sector
“Thank you for sending the market report and data. It looks quite comprehensive and the data is exactly what I was looking for. I appreciate the timeliness and responsiveness of you and your team.”- One of the Largest Companies in the Defence Industry