Global Toluene Market Overview 2018, Demand by Regions, Share and Forecast to 2023by IMARC Group Market Research Reports
The global toluene market has witnessed a moderate growth over the past few years. This can be attributed to various factors which include a wide range of applications of toluene, flourishing end-use industries, introduction of new technologies, etc.
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According to the latest report by IMARC Group, titled “Toluene Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2018-2023”, the global toluene market reached a value of more than US$ 21 Billion in 2017. Toluene is a water-insoluble, colorless and organic chemical compound. It is a minor constituent obtained during the production of gasoline and crude oil. Toluene can also be produced through natural sources such as tolu tree and as a by-product of styrene production. Owing to its physical and chemical properties, toluene is used in the synthesis of saccharin, trinitrotoluene (TNT) and benzoic acid. It is also utilized in the manufacturing of polymers used for making plastic soda bottles, nylon and polyurethanes.
Global Toluene Market Trends:
Toluene currently plays a vital role across several end-use industries, such as building and construction, printing, rubber, oil and gas, resins, leather and pharmaceuticals, which is one of the major factors driving the growth of the toluene market. Moreover, there has been a rise in the usage of toluene in gasoline mixtures in the form of an octane booster for controlling the energy content of gasoline.
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Created on Nov 21st 2018 07:06. Viewed 171 times.
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