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North America Toluene Market Size, Share | Industry Trends Report, 2024

Jan 15, 2020 (SUPER MARKET RESEARCH via COMTEX) --

According to the latest report by IMARC Group titled, "North America Toluene Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2019-2024", the market to reach a volume of 9.4 Million Tons by 2024, registering a CAGR of around 2% during 2019-2024.

Also known as toluol, toluene (C7H8) is a liquid aromatic hydrocarbon that naturally occurs in crude oil and tolu tree. It can be produced commercially by alkylation of benzene with methanol. It is colorless, flammable, insoluble in water and widely used as a solvent across industries in North America. Other than this, it is also utilized in the manufacturing of paints, thinners, lacquers, adhesives and rubbers and in leather tanning processes in the region.

“some of the key players in Global Toluene Market: – Sinopec, Exxon Mobil, Covestro, BP, SK Innovation, BASF, Shell, MITSUBISHI CHEMICAL HOLDINGS CO (MTLHY), DowDuPont, NOVA Chemicals, Mitsui Chemicals, Chevron Phillips Chemical, Tosoh”

Request to get sample report: https://www.imarcgroup.com/north-america-toluene-market/requestsample

Expanding applications of toluene in various industries are driving the market growth in North America. For instance, it is used in the chemical industry for producing other chemicals, such as benzene, benzoic acid, benzoyl chloride nylon, polyurethane, trinitrotoluene (TNT) and toluene diisocyanate. It is also utilized in the manufacturing of dyes and explosives and as an antiknock agent for gasoline. Furthermore, it finds extensive application in the pharmaceutical in the production of drugs, such as penicillin G potassium, acetanilide, ciprofloxacin and prednisone. In line with this, a well-established healthcare infrastructure, along with enhanced focus of regulatory bodies such as the US FDA on the quick and effective approval process of new drugs, are creating a positive outlook for the market. Other factors, such as high per capita income levels and extensive research and development (R&D), are expected to drive the market growth in the coming years in the region.

Browse full report with TOC’s: https://www.imarcgroup.com/north-america-toluene-market

Insights on Market Segmentation:

Breakup by Technology

1. Reformation Process

2. Pygas Process

3. Coke/Coal Process

4. Styrene Process

Breakup by Application

1. Gasoline

2. STDP/TPX

3. Solvents

4. Trans Alkylation (TA)

5. Hydrodealkylation

6. Toluene Diisocyanate (TDI)

7. Toluene Disproportionation (TDP)

8. Others

Breakup by Country

1. United States

2. Canada

3. Mexico

About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

Contact us

IMARC Group
309 2nd St, Brooklyn, NY 11215, USA
Website: www.imarcgroup.com
Email: sales@imarcgroup.com
USA: +1-631-791-1145
Follow us on twitter: @imarcglobal

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The post North America Toluene Market Size, Share | Industry Trends Report, 2024 appeared first on Super Market Research.

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