[216 Pages Report] The global toluene market was valued at USD 20.02 Billion in 2015 and is projected to reach USD 23.41 Billion by 2021, at a CAGR of 6.3% from 2016 to 2021. In this report, 2015 is considered the base year and the forecast period is from 2016 to 2021.

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“Asia-Pacific is the key market for toluene”

The Asia-Pacific region is estimated to have led the toluene market in 2016. China is the largest consumer of toluene in the world. The demand for toluene is driven by the diverse industrial markets ranging from building & construction, automotive, industrial, and oil & gas, among others. The ensuing increase in investments and rise in the number of new manufacturing establishments is expected to lead the Asia-Pacific region emerging as the prime driver for the toluene market.

The value chain for the toluene market consists of various stages such as, raw material procurement, manufacturers, distributors, and end-users. Naphtha is the main feedstock used for toluene. Light naphtha and heavy naphtha are the two main grades of naphtha that are produced after the distillation of crude oil. Naphtha accounts for the maximum share in terms of the feedstock used for producing toluene and other aromatics. Apart from naphtha, Coke Oven Light Oil (COLO) can also be used as an alternative for producing aromatics; however, because of the shortage of supply and the lower combustion value of these products, naphtha is the most commonly used raw material for the production of toluene and other aromatics. Apart from naphtha, coal, shale oil, and biomass (lignin) can also be used as raw materials for the production of toluene.

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Target Audience:

Toluene manufacturers
Toluene dealers
Toluene suppliers
End users, raw material suppliers, and others
“TDI segment to be the fastest growing market for toluene”

The TDI segment is estimated to be fastest growing segment in the toluene market. Growth in the automotive and building & construction industries is expected to drive the market of TDI for polyurethane, which is used as an insulating foam in these industries. North America is expected to witness high potential growth in the TDI segment due to the recent discoveries of shale gas and shale oil in the region and a strong manufacturing base in the U.S. Rising energy costs and greenhouse gas emissions have prompted various companies to improve the energy efficiency in households and industrial buildings, which is driving the demand for PU foams for use as insulators. PU foam is used in automobiles due to the light weight, which helps in the reduction of fuel emissions.  With the increasing concerns regarding the conservation of energy, the market for PU is expected to grow, which, in turn, is expected drive the demand for toluene.

The global toluene market has a large number of market players; however the market is led by some of the major players, such as, China Petroleum & Chemical Corporation (China), China National Petroleum Corporation (China), Exxon Mobil Corporation (U.S.), Covestro AG (Germany), BP P.L.C. (U.K.), SK Innovations (South Korea), BASF SE (Germany), GS Caltex (South Korea), Formosa Chemical & Fiber Corporation (Taiwan), Royal Dutch Shell (Netherlands), and CPC Corporation (Taiwan), among others.

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