The aromatic solvents market is growing with a considerable rate due to high demand for aromatic solvents from the end users such as ink industry, and paint and coating industry. Development of light aromatic fluids is expected to reduce potential hazards caused by aromatic solvents, resulting in a great opportunity for the aromatics solvent market to grow with a more significant rate in the coming years.
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On the basis of nature of solvents, solvents can be categorized as polar and non-polar. Dielectric constant is used to measure the polarity of solvents, the solvents with dielectric constant less than 15 are known as non polar solvents and rest are known as polar solvents.
The aromatic solvents are composed of xylene, naphtha, toluene, benzene and other aromatic solvents. Solvents are essential components of inks, paints and coatings. The aromatic solvents are engaged during the fusion of active excipients and substances, and during the drug manufacturing procedure in the pharmaceutical industry.
The aromatic solvents market can be categorized on the basis of product type as toluene, benzene, aromatic 150, xylene, aromatic 200 and aromatic 100. On the basis of applications, the aromatic solvents market can be categorized as oilfield chemicals, pharmaceuticals, paints and coatings, perfumes, automotive, adhesives and sealants, cosmetics textiles, electronics, and pesticide.
Some of the factors driving the growth of the aromatics solvent market are strong growth in oil and gas industry, and rising crude oil prices. As the automotive industry is rising globally, it is increasing the demand for adhesives and sealants, which in turn is resulting in the growth of the aromatic solvents market.
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Some of the competitors in the aromatic solvents market are BASF SE, Royal Dutch Shell plc, Haltermann Carless UK Limited, INEOS AG, LyondellBasell Industries N.V., Celanese Corporation, Honeywell International Inc., Exxon Mobil Corporation, Ashland Inc., Huntsman International LLC, Eastman Chemical Company, DEZA a. s., and Oil Refineries Ltd.
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