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市場調查報告書
商品編碼
1361349

芳烴市場 - 2018-2028 年全球產業規模、佔有率、趨勢、機會與預測，按類型、按應用、最終用途產業、地區、競爭細分

Aromatics Market - Global Industry Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Type, By Application, By End-Use Industry, By Region, Competition
出版日期: | 出版商: TechSci Research | 英文 178 Pages | 商品交期: 2-3個工作天內

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簡介目錄

2022年全球芳烴市場估值達1,856億美元，並有望在整個預測期內強勁成長，預計到2028年年複合成長率(CAGR)為5.33%，到2022年預計將達到2,488.1億美元芳烴市場收入的成長主要是由幾個關鍵因素推動的。這些因素包括各行業對二甲苯、甲苯和苯等芳香族溶劑的需求不斷增加。二甲苯被廣泛用作溶劑和清潔劑，而甲苯廣泛應用於油漆、清漆和黏合劑生產。另一方面，苯在塑膠、合成纖維和樹脂製造中起著至關重要的作用。此外，油漆和塗料行業擴大將芳香族化合物作為一種成分，以提高油漆和清漆的稠度並加快乾燥時間。值得注意的產業參與者也將投資投入研究工作中，以推出先進和創新的芳香產品，為全球收入成長做出貢獻。建築業在推動市場收入成長方面也發揮關鍵作用。芳烴在該行業的管道、窗框、隔熱材料和室內設計中已被廣泛應用。例如，苯用於生產聚苯乙烯泡沫，可提供絕緣性並減少能源消耗，有助於創造舒適的生活環境。發泡聚苯乙烯 (EPS) 源自苯乙烯或苯，是一種輕質且永續的絕緣材料，廣泛用於建造各種建築類型的屋頂、牆壁和地板。芳烴也是運動器材生產的重要組成部分，包括尼龍降落傘、輕型跑鞋、足球和聚酯泳衣。環氧樹脂、玻璃纖維增強聚酯和聚氨酯在運動器材製造中的使用不斷增加，加上運動的日益普及，推動了對芳烴的需求。此外，芳香劑在家庭和廚房用品中具有多種應用。它們有助於生產耐腐蝕且耐用的塑膠材料，例如常用於冰箱內面板的聚苯乙烯或聚碳酸酯。甲苯衍生的聚氨酯應用於模壓冰箱面板之間，以提高冷卻效率和節能。此外，芳香族材料在製作蛋盒、燃氣爐、奶瓶、微波爐、肉盤、鍋碗瓢盆和咖啡機方面發揮重要作用，提高了食品安全性和可用性。芳烴也可用作車輛、船舶和橋樑的塗層，以增強美觀性、硬度和防水性能。

主要市場促進因素

市場概況
預測期 2024-2028
2022 年市場規模 1856億美元
2028F 市場規模 2488.1億美元
2023-2028 年年複合成長率 5.33%
成長最快的細分市場 苯
最大的市場 亞太地區

在現代油漆和塗料領域，美觀與功能之間的關係日益交織在一起。隨著對視覺吸引力和高性能解決方案的需求持續成長，全球芳烴市場已成為關鍵驅動力，為油漆和塗料提供了重要的組成部分。芳烴專注於增強顏色、耐用性和整體性能，正在為該行業充滿活力的未來鋪平道路。芳香族化合物以其獨特的分子結構（包括芳香環）為特徵，在製造油漆和塗料領域不可或缺的著色劑、樹脂、溶劑和添加劑方面發揮關鍵作用。這些化合物有助於創造迷人的色彩來裝飾我們的周圍環境。芳香族化合物是油漆和塗料中使用的著色劑和顏料的基礎，提供多種色調和色調。這些化合物不僅提供迷人的色彩，還有助於提高色彩穩定性以及防止陽光和環境因素的褪色。芳香族化合物對於耐久性同樣重要。它們構成樹脂的核心，形成防腐蝕、磨損和化學暴露的保護塗層。基於芳烴的樹脂可形成堅固的保護層，防止表面隨著時間的推移而惡化，從而延長結構、車輛和設備的使用壽命。除了美觀和保護之外，芳香劑還提供更多功能。它們的化學特性使其成為塗料中有價值的添加劑，可增強附著力、柔韌性和耐極端溫度等性能。這些添加劑顯著提升了油漆和塗料的整體性能，使其適用於各種應用和環境。對高品質和多功能油漆和塗料的需求激增正在推動全球芳烴市場的發展。全球各行業都在尋求既具有視覺吸引力又滿足嚴格性能要求的產品，從而導致芳香化合物需求的增加。這一趨勢在汽車、建築、航空航太和工業製造等領域尤其明顯。芳烴市場與油漆和塗料產業的融合是創新的中心。芳香族化合物製造商不斷開發新穎的配方和應用，以滿足塗料行業不斷變化的需求。低 VOC（揮發性有機化合物）和環保芳香族解決方案的推出符合全球推動永續實踐和法規的趨勢。

汽車業對芳烴的需求不斷增加

近年來，出現了重塑汽車格局並將全球芳烴市場推向新高度的重大趨勢。汽車產業對芳烴的需求不斷成長，正在推動產業轉型，在整個價值鏈上引發連鎖反應。芳烴是生產高性能塑膠和合成材料的重要原料，可提高車輛的安全性、耐用性和燃油效率。輕質塑膠有助於減輕車輛重量，從而提高燃油經濟性並減少排放。此外，芳烴在輪胎製造中發揮關鍵作用，可增強抓地力、耐用性和輪胎整體性能，確保道路上的最佳安全性和穩定性。此外，芳香烴在儀表板、內裝和隔熱材料等各種內裝零件的生產上是不可或缺的。這些組件不僅提高了整體舒適度和美觀度，還確保了耐用性和使用壽命。此外，芳香族化合物有助於汽車表面塗料和油漆的配方，提供防腐蝕、防紫外線輻射和環境因素的保護，從而延長車輛的使用壽命。汽車產業對芳烴的需求不斷成長與永續發展措施密切相關。汽車製造商面臨越來越大的壓力，要求減少車輛的碳足跡並採取環保措施。芳烴在這項努力中發揮關鍵作用，它能夠生產可提高燃油效率並減少排放的輕質材料。此外，研究和創新正在推動源自可再生資源的生物基芳烴的開發，這與汽車產業對永續解決方案的追求保持一致。這些生物基替代品有望進一步減少汽車生產對環境的影響。中國和印度等正在經歷快速工業化和都市化的國家，由於汽車產業的擴張，正成為芳烴的重要消費者。需求的激增波及整個芳烴價值鏈。石化公司正在投資擴大產能，以滿足汽車產業不斷成長的需求。此外，不斷探索煉油和生產技術旨在確保永續的芳烴供應。

製藥業對芳烴的需求不斷增加

隨著全球對醫藥產品的需求不斷成長，芳香族化合物在藥物開發和製造中的重要性日益凸顯。這現象正在重塑全球芳烴市場的動態。以其嚴格的科學標準和嚴格的法規而聞名的製藥業越來越認知到芳香族化合物的獨特屬性。芳香族化合物作為前驅物在開發各種藥物化合物（包括活性藥物成分 (API)、賦形劑和藥物傳遞系統）中發揮著至關重要的作用。慢性病的日益普及、人口老化和全球健康挑戰正在推動對創新藥物解決方案的需求，從而導致對芳烴的需求增加。芳香族化合物不僅有助於合成，而且有助於藥物配方和遞送系統。由於芳香族化合物與這些平台的兼容性，因此經常應用於開發新型藥物遞送方法，例如基於脂質體和奈米顆粒的系統。透過提高藥物溶解度、穩定性和生物利用度，芳香族化合物可提高藥品的治療功效。製藥業對芳烴的需求空前激增，正在重塑全球芳烴市場。兩個看似截然不同的行業的融合凸顯了化學、創新和醫療保健之間錯綜複雜的相互作用。隨著製藥業的不斷發展，芳烴與藥物開發之間的共生關係預計將推動創新，促進跨產業合作，並重塑全球芳烴市場格局。

主要市場挑戰

易於獲得環烷烴等替代品

全球芳烴市場面臨的關鍵挑戰之一是現成替代品的出現，其中環烷烴處於領先地位。環烷烴是由形成閉迴路結構的碳原子組成的飽和烴，類似芳香環但缺乏交替雙鍵。這些化合物在特定應用中與芳烴具有相似的功能，使其成為有吸引力的替代品。由於生產流程簡單或原料豐富，替代品通常以較低的價格進入市場。這可能導致價格競爭，並可能影響傳統芳香化合物的利潤率。雖然環烷烴等替代品可能在某些應用中提供相似的功能，但它們的性能特徵可能與芳烴不同。確保替代品符合相同的品質和性能標準是一項挑戰。替代品的採用可能會推動市場需求從傳統芳烴轉移，可能導致芳烴生產商的市場佔有率減少，除非他們適應不斷變化的偏好。芳烴市場的公司可能需要投資研發，以探索增強其產品性能的方法或發現新的應用以保持競爭優勢。

原料價格波動

芳香烴，包括苯、甲苯和二甲苯，在塑膠、合成纖維、藥品和農業化學品等多種產品的製造中發揮關鍵作用。這些化合物是透過各種精煉和石化過程從原油或天然氣中提取的。因此，原油、石腦油和天然氣等原料的價格顯著影響芳烴的生產成本。原料價格波動帶來的主要挑戰是其為生產成本帶來的不確定性。原料價格波動可能會擾亂生產計畫和預算，影響芳烴製造商的獲利能力。此外，隨著製造商適應不斷變化的生產成本，這些價格波動可能會擾亂供應鏈，導致庫存失衡、交貨延遲和營運效率低下。此外，原料價格波動可能會阻礙企業做出長期投資決策或擴大產能。未來原料成本的不確定性也可能影響大型專案的可行性。

主要市場趨勢

擴大採用生物基芳烴

生物基芳烴源自再生原料，例如農業廢棄物、生質能，甚至藻類。這與化石燃料形成鮮明對比，化石燃料是有限的資源，對環境影響顯著。與化石基芳烴相比，生物基芳烴的生產通常排放較少的溫室氣體，從而減少碳排放並有助於減緩氣候變遷。此外，生物基芳烴可以利用廢物流和可生物分解材料無縫地融入循環經濟模型，使其生命週期與永續性和減少廢物的原則保持一致。生物基芳烴的另一個優點是毒性水平較低，使其在從生產到處置的整個生命週期中更加環保。隨著消費者的環保意識日益增強，對生態足跡較低的產品的需求不斷成長。消費者偏好的這種轉變促使各行業重新評估其做法並接受更環保的替代方案。為了因應這種不斷變化的需求格局，芳烴市場正在見證生物基生產方法的出現。

細分市場洞察

類型洞察

2022年，二甲苯在芳烴市場佔據主導地位，預計未來幾年將繼續擴張。二甲苯是化學品、黏合劑、農業噴霧劑和塗料生產的通用溶劑。它也可用於汽油、潤滑油以及對苯二甲酸二甲酯和鄰苯二甲酸酐等聚合物的製造。二甲苯常見於油墨、清漆、油漆稀釋劑和殺蟲劑等產品。

最終用途行業洞察

2022 年，製藥領域引領芳烴市場，預計將維持其成長軌跡。樹脂等芳香族化合物廣泛應用於藥物純化、抗生素開發以及後天免疫缺乏症候群 (AIDS)、關節炎和癌症等疾病的治療。此外，由塑膠和樹脂製成的矯形器械為受傷人員提供了活動能力，同時與替代材料相比保持了成本效益。芳烴也用於生產拋棄式注射器、設備以及用於儲存藥物和疫苗的容器。

區域洞察

北美地區已牢牢確立了其全球芳烴市場領導者的地位。這種突出地位可歸因於各種最終用途產業對芳烴的需求不斷成長，包括汽車、油漆和塗料、建築和個人護理產品等。此外，對新車和二手車的需求很大，特別是在美國等國家，預計這將進一步增加對汽車修補塗料的需求。此外，該地區（尤其是美國和加拿大）大公司和政府增加對旨在開發先進、創新和耐用產品的研究活動的投資，正在促進該地區市場的收入成長。

主要市場參與者

  • 杜邦德內穆爾公司
  • 阿爾佩克 SAB de CV
  • 英國石油公司
  • 中國石油天然氣集團公司
  • 埃克森美孚公司
  • 因多拉瑪創投有限公司
  • 信實工業有限公司
  • 殼牌化學有限公司
  • 沙烏地基礎工業公司
  • 利安德巴塞爾工業公司

報告範圍：

在本報告中，除了以下詳細介紹的產業趨勢外，全球芳烴市場也分為以下幾類：

  • 芳烴市場，依類型：

苯乙烯

二甲苯

苯

其他

  • 芳烴市場，按應用：

溶劑

添加劑

  • 芳烴市場，依最終用途產業：

油漆和塗料

黏合劑

藥品

化學品

其他

  • 全球芳烴市場，按地區：

北美洲

  • 美國
  • 加拿大
  • 墨西哥

亞太

  • 中國
  • 印度
  • 韓國
  • 澳洲
  • 日本

歐洲

  • 德國
  • 法國
  • 英國
  • 西班牙
  • 義大利

南美洲

  • 巴西
  • 阿根廷
  • 哥倫比亞

中東和非洲

  • 南非
  • 沙烏地阿拉伯
  • 阿拉伯聯合大公國

競爭格局

公司概況：全球芳烴市場主要公司的詳細分析。

可用的客製化：

全球芳烴市場報告包含給定的市場資料，科技科學研究可根據公司的具體需求提供客製化服務。該報告可以使用以下自訂選項：

公司資訊

  • 其他市場參與者（最多五個）的詳細分析和概況分析。

目錄

第 1 章：產品概述

  • 市場定義
  • 市場範圍
    • 涵蓋的市場
    • 考慮學習的年份
    • 主要市場區隔

第 2 章：研究方法

  • 研究目的
  • 基線方法
  • 主要產業夥伴
  • 主要協會和二手資料來源
  • 預測方法
  • 數據三角測量與驗證
  • 假設和限制

第 3 章：執行摘要

  • 市場概況
  • 主要市場細分概述
  • 主要市場參與者概述
  • 重點地區/國家概況
  • 市場促進因素、挑戰、趨勢概述

第 4 章：客戶之聲

第 5 章：全球芳烴市場展望

  • 市場規模及預測
    • 按價值
  • 市佔率及預測
    • 依類型（苯乙烯、二甲苯、苯、其他）
    • 按應用（溶劑和添加劑）
    • 按最終用途行業（油漆和塗料、黏合劑、藥品、化學品及其他）
    • 按公司分類 (2022)
    • 按地區
  • 市場地圖

第 6 章：北美芳烴市場展望

  • 市場規模及預測
    • 按價值
  • 市佔率及預測
    • 按類型
    • 按應用
    • 按最終用途行業
    • 按國家/地區
  • 北美：國家分析
    • 美國
    • 墨西哥
    • 加拿大

第 7 章：歐洲芳烴市場展望

  • 市場規模及預測
    • 按價值
  • 市佔率及預測
    • 按類型
    • 按應用
    • 按最終用途行業
    • 按國家/地區
  • 歐洲：國家分析
    • 法國
    • 德國
    • 英國
    • 義大利
    • 西班牙

第 8 章：亞太芳烴市場展望

  • 市場規模及預測
    • 按價值
  • 市佔率及預測
    • 按類型
    • 按應用
    • 按最終用途行業
    • 按國家/地區
  • 亞太地區：國家分析
    • 中國
    • 印度
    • 韓國
    • 日本
    • 澳洲

第 9 章：南美洲芳烴市場展望

  • 市場規模及預測
    • 按價值
  • 市佔率及預測
    • 按類型
    • 按應用
    • 按最終用途行業
    • 按國家/地區
  • 南美洲：國家分析
    • 巴西
    • 阿根廷
    • 哥倫比亞

第10章 ：中東和非洲芳烴市場展望

  • 市場規模及預測
    • 按價值
  • 市佔率及預測
    • 按類型
    • 按應用
    • 按最終用途行業
    • 按國家/地區
  • MEA：國家分析
    • 南非芳烴
    • 沙烏地阿拉伯芳烴
    • 阿拉伯聯合大公國芳烴

第 11 章：市場動態

  • 動力
  • 挑戰

第 12 章：市場趨勢與發展

  • 最近的發展
  • 產品發布
  • 併購

第 13 章：大環境分析

第 14 章：波特的五力分析

  • 產業競爭
  • 新進入者的潛力
  • 供應商的力量
  • 客戶的力量
  • 替代產品的威脅

第15章：競爭格局

  • 商業概覽
  • 公司概況
  • 產品與服務
  • 財務（上市公司）
  • 最近的發展
  • SWOT分析
    • DuPont de Nemours, Inc.
    • Alpek SAB de CV
    • BP PLC
    • China National Petroleum Corporation
    • Exxon Mobil Corporation
    • Indorama Ventures PLC
    • Reliance Industries Limited
    • Shell Chemicals Limited
    • SABIC
    • Lyondell Basell Industries Inc.

第 16 章：策略建議

簡介目錄
Product Code: 4398

The Global Aromatics Market achieved a valuation of USD 185.6 billion in 2022 and is poised for robust growth throughout the forecast period, with a projected Compound Annual Growth Rate (CAGR) of 5.33% until 2028 and is expected to reach at USD 248.81 billion by 2022. This growth in the aromatics market's revenue is primarily fueled by several key factors. These factors include the escalating demand for aromatic solvents such as Xylene, Toluene, and Benzene across various industries. Xylene is widely recognized as a solvent and cleaning agent, while Toluene finds extensive application in paint, lacquer, and adhesive production. Benzene, on the other hand, plays a vital role in plastics, synthetic fiber, and resin manufacturing. Moreover, the paints and coatings sector is increasingly incorporating aromatics as a component to enhance paint and varnish consistency and accelerate drying time. Noteworthy industry players are also directing investments into research endeavors to introduce advanced and innovative aromatic products, contributing to global revenue expansion. The construction sector also plays a pivotal role in driving market revenue growth. Aromatics find widespread application in piping, window frames, insulation, and interior design within this industry. For instance, benzene is utilized in producing Polystyrene foam, which provides insulation and reduces energy consumption, contributing to a comfortable living environment. Expanded Polystyrene (EPS), derived from Styrene or benzene, is a lightweight and sustainable insulating material extensively used in constructing roofs, walls, and floors across various building types. Aromatics also serve as a crucial component in the production of sports equipment, including nylon parachutes, lightweight running shoes, footballs, and Polyester swimwear. The rising utilization of epoxy resins, glass-reinforced polyester, and polyurethanes in crafting sports equipment, combined with the surging popularity of sports participation, propels the demand for aromatics. Additionally, aromatics have diverse applications in household and kitchen goods. They contribute to the production of corrosion-resistant and durable plastic materials such as polystyrene or polycarbonate, commonly used in refrigerator interior panels. Toluene-derived polyurethane is applied between molded refrigerator panels to enhance cooling efficiency and energy conservation. Furthermore, aromatics-based materials play a role in crafting egg cartons, gas burners, milk bottles, microwave ovens, meat trays, pots and pans, and coffee machines, enhancing food safety and usability. Aromatics are also employed as coatings on vehicles, ships, and bridges to augment aesthetics, hardness, and water-resistance properties.

Key Market Drivers

Growing Demand of Aromatics in the Paints & Coatings Industry

Market Overview
Forecast Period2024-2028
Market Size 2022USD 185.6 Billion
Market Size 2028FUSD 248.81 Billion
CAGR 2023-20285.33%
Fastest Growing SegmentBenzene
Largest MarketAsia Pacific

The relationship between aesthetics and functionality has become increasingly intertwined in the modern paints and coatings sector. As the demand for visually appealing and high-performance solutions continues to rise, the global aromatics market has emerged as a crucial driver, providing essential building blocks for paints and coatings. Focusing on enhancing color, durability, and overall performance, aromatics are paving the way for a vibrant future in the industry. Aromatics, characterized by their unique molecular structures, including aromatic rings, play a critical role in creating colorants, resins, solvents, and additives integral to the paints and coatings sector. These compounds facilitate the creation of captivating hues that adorn our surroundings. Aromatic compounds form the foundation of colorants and pigments employed in paints and coatings, offering a vast range of shades and tones. These compounds not only provide captivating colors but also contribute to color stability and resistance against fading due to sunlight and environmental elements. Aromatics are equally essential for durability. They constitute the core of resins that establish protective coatings against corrosion, abrasion, and chemical exposure. Resins based on aromatics create a robust shield that safeguards surfaces from deterioration over time, thus extending the lifespan of structures, vehicles, and equipment. Beyond aesthetics and protection, aromatics offer more. Their chemical attributes make them valuable additives in coatings, enhancing properties like adhesion, flexibility, and resistance to extreme temperatures. These additives significantly elevate the overall performance of paints and coatings, making them suitable for various applications and environments. The surging demand for high-quality and versatile paints and coatings is driving the global aromatics market. Industries worldwide seek products that offer visual appeal while fulfilling stringent performance requirements, resulting in an uptick in aromatic compound demand. This trend is especially pronounced in sectors such as automotive, construction, aerospace, and industrial manufacturing. The convergence of the aromatics market with the paints and coatings industry is a hub of innovation. Manufacturers of aromatic compounds continually develop novel formulations and applications that cater to the evolving needs of the coatings sector. The introduction of low-VOC (volatile organic compound) and environmentally friendly aromatic solutions aligns with the global push for sustainable practices and regulations.

Increasing Demand of Aromatics in the Automotive Industry

Recent years have witnessed a significant trend reshaping the automotive landscape and propelling the global aromatics market to new heights. The escalating demand for aromatics in the automotive sector is driving industry transformation, setting off a ripple effect across the entire value chain. Aromatics serve as vital feedstocks for producing high-performance plastics and synthetic materials, enhancing vehicle safety, durability, and fuel efficiency. Lightweight plastics contribute to reduced vehicle weight, resulting in improved fuel economy and decreased emissions. Moreover, aromatics play a critical role in tire manufacturing, enhancing grip, durability, and overall tire performance, ensuring optimal safety and stability on the road. Furthermore, aromatics are indispensable in the production of various interior components, including dashboards, upholstery, and insulation materials. These components not only enhance overall comfort and aesthetics but also ensure durability and longevity. Additionally, aromatics contribute to the formulation of coatings and paints used on automotive surfaces, providing protection against corrosion, UV radiation, and environmental elements, thus prolonging vehicle lifespan. The increasing demand for aromatics in the automotive industry is closely intertwined with sustainability initiatives. Automakers face mounting pressure to reduce the carbon footprint of their vehicles and embrace environmentally friendly practices. Aromatics play a pivotal role in this endeavor by enabling the production of lightweight materials that enhance fuel efficiency and decrease emissions. Furthermore, research and innovation are driving the development of bio-based aromatics derived from renewable sources, aligning with the automotive industry's pursuit of sustainable solutions. These bio-based alternatives hold the promise of further minimizing the environmental impact of vehicle production. Countries like China and India, undergoing rapid industrialization and urbanization, are emerging as significant consumers of aromatics due to the expansion of their automotive sectors. This surge in demand reverberates throughout the aromatics value chain. Petrochemical companies are investing in expanding their production capacities to meet the growing needs of the automotive sector. Additionally, ongoing exploration of refining and production technologies aims to ensure a sustainable aromatic supply.

Increasing Demand of Aromatics in the Pharmaceuticals Industry

With the escalating global demand for pharmaceutical products, the importance of aromatics in drug development and manufacturing is gaining prominence. This phenomenon is reshaping the dynamics of the global aromatics market. The pharmaceuticals industry, renowned for its rigorous scientific standards and stringent regulations, is increasingly recognizing the unique attributes of aromatics. Aromatics play a crucial role as precursors in developing various pharmaceutical compounds, including active pharmaceutical ingredients (APIs), excipients, and drug delivery systems. The growing prevalence of chronic diseases, aging populations, and global health challenges are driving the need for innovative pharmaceutical solutions, contributing to increased demand for aromatics. Aromatics contribute not only to synthesis but also to drug formulation and delivery systems. Aromatics frequently find application in developing novel drug delivery methods, such as liposomal and nanoparticle-based systems, due to their compatibility with these platforms. By enhancing drug solubility, stability, and bioavailability, aromatics enhance the therapeutic efficacy of pharmaceutical products. The unprecedented surge in demand for aromatics in the pharmaceuticals industry is reshaping the global aromatics market. This convergence of two seemingly distinct sectors underscores the intricate interplay between chemistry, innovation, and healthcare. As the pharmaceuticals industry continues to evolve, the symbiotic relationship between aromatics and drug development is expected to drive innovation, foster cross-industry collaborations, and reshape the global aromatics market landscape.

Key Market Challenges

Easy Availability of Substitutes such as Cycloalkanes

One of the pivotal challenges facing the global aromatics market is the emergence of readily available substitutes, with cycloalkanes taking the lead. Cycloalkanes are saturated hydrocarbons comprised of carbon atoms forming a closed ring structure, resembling aromatic rings but lacking the alternating double bonds. These compounds offer functional similarities to aromatics in specific applications, making them attractive alternatives. Substitutes often enter the market at a lower price point due to their straightforward production processes or abundant feedstocks. This can lead to price competition and potentially impact the profit margins of conventional aromatic compounds. While substitutes like cycloalkanes may offer functional parallels in certain applications, their performance characteristics may differ from those of aromatics. Ensuring substitutes meet the same quality and performance standards poses a challenge. The adoption of substitutes can drive a shift in market demand away from traditional aromatics, potentially leading to reduced market share for aromatics producers unless they adapt to evolving preferences. Companies in the aromatics market may need to invest in research and development to explore ways to enhance their products' properties or discover novel applications to maintain a competitive edge.

Volatility in Feedstock Prices

Aromatics, including benzene, toluene, and xylene, play a pivotal role in manufacturing a wide range of products, such as plastics, synthetic fibers, pharmaceuticals, and agrochemicals. These compounds are derived from crude oil or natural gas through various refining and petrochemical processes. Consequently, the prices of feedstocks like crude oil, naphtha, and natural gas significantly impact the production cost of aromatics. The primary challenge posed by feedstock price volatility is the uncertainty it introduces into production costs. Fluctuating feedstock prices can disrupt production planning and budgeting, affecting the profitability of aromatics manufacturers. Moreover, these price fluctuations can disrupt supply chains as manufacturers adjust to changing production costs, leading to inventory imbalances, delivery delays, and operational inefficiencies. Furthermore, volatile feedstock prices can discourage companies from making long-term investment decisions or expanding production capacities. The uncertainty surrounding future feedstock costs may also impact the feasibility of large-scale projects.

Key Market Trends

Growing Adoption of Bio-Based Aromatics

Bio-based aromatics are derived from renewable feedstocks, such as agricultural waste, biomass, and even algae. This contrasts with fossil fuels, which are finite resources with notable environmental impacts. The production of bio-based aromatics generally emits fewer greenhouse gases compared to their fossil-based counterparts, leading to a reduction in carbon emissions and contributing to climate change mitigation. Additionally, bio-based aromatics can seamlessly integrate into a circular economy model by utilizing waste streams and biodegradable materials, aligning their lifecycle with the principles of sustainability and waste reduction. Another advantage of bio-based aromatics is their lower toxicity levels, making them more environmentally friendly across their entire lifecycle, from production to disposal. With consumers becoming increasingly environmentally conscious, there is a growing demand for products with lower ecological footprints. This shift in consumer preferences has prompted industries to reevaluate their practices and embrace greener alternatives. In response to this evolving demand landscape, the aromatics market is witnessing the emergence of bio-based production methods.

Segmental Insights

Type Insights

In 2022, Xylene dominated the Aromatics market and is expected to continue its expansion in the years ahead. Xylene serves as a versatile solvent in the production of chemicals, adhesives, agricultural sprays, and coatings. It also finds application in gasoline, lubricants, and the manufacturing of polymers like Dimethyl Terephthalate and Phthalic Anhydride. Xylene is commonly encountered in products such as ink, varnish, paint thinners, and insecticides.

End-Use Industry Insights

In 2022, the Pharmaceuticals segment led the Aromatics market and is anticipated to sustain its growth trajectory. Aromatics, such as resins, find extensive application in drug purification and the development of antibiotics and therapies for conditions like Acquired Immunodeficiency Syndrome (AIDS), arthritis, and cancer. Furthermore, orthopedic devices made from plastics and resins provide mobility to individuals with injuries while remaining cost-effective compared to alternative materials. Aromatics are also used in producing disposable syringes, apparatus, and containers for storing medications and vaccines.

Regional Insights

The North America region has firmly established itself as the leader in the Global Aromatics Market. This prominence can be attributed to the growing demand for aromatics across various end-use industries, including automotive, paint & coatings, construction, and personal care products, among others. Additionally, there is significant demand for new and used cars, particularly in countries like the US, which is expected to further boost the demand for refinishing automotive coatings. Furthermore, the increased investments by major companies and governments in the region, especially in the US and Canada, for research activities aimed at developing advanced, innovative, and durable products, are contributing to the revenue growth of the market in this region.

Key Market Players

  • DuPont de Nemours, Inc.
  • Alpek S.A.B. de C.V
  • BP PLC
  • China National Petroleum Corporation
  • Exxon Mobil Corporation
  • Indorama Ventures PLC
  • Reliance Industries Limited
  • Shell Chemicals Limited
  • SABIC
  • Lyondell Basell Industries Inc.

Report Scope:

In this report, the Global Aromatics Market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:

  • Aromatics Market, By Type:

Styrene

Xylene

Benzene

Others

  • Aromatics Market, By Application:

Solvent

Additive

  • Aromatics Market, By End-Use Industry:

Paint & Coatings

Adhesives

Pharmaceuticals

Chemicals

Others

  • Global Aromatics Market, By region:

North America

  • United States
  • Canada
  • Mexico

Asia-Pacific

  • China
  • India
  • South Korea
  • Australia
  • Japan

Europe

  • Germany
  • France
  • United Kingdom
  • Spain
  • Italy

South America

  • Brazil
  • Argentina
  • Colombia

Middle East & Africa

  • South Africa
  • Saudi Arabia
  • UAE

Competitive Landscape

Company Profiles: Detailed analysis of the major companies present in the Global Aromatics Market.

Available Customizations:

Global Aromatics Market report with the given market data, Tech Sci Research offers customizations according to a company's specific needs. The following customization options are available for the report:

Company Information

  • Detailed analysis and profiling of additional market players (up to five).

Table of Contents

1. Product Overview

  • 1.1. Market Definition
  • 1.2. Scope of the Market
    • 1.2.1. Markets Covered
    • 1.2.2. Years Considered for Study
    • 1.2.3. Key Market Segmentations

2. Research Methodology

  • 2.1. Objective of the Study
  • 2.2. Baseline Methodology
  • 2.3. Key Industry Partners
  • 2.4. Major Association and Secondary Sources
  • 2.5. Forecasting Methodology
  • 2.6. Data Triangulation & Validation
  • 2.7. Assumptions and Limitations

3. Executive Summary

  • 3.1. Overview of the Market
  • 3.2. Overview of Key Market Segmentations
  • 3.3. Overview of Key Market Players
  • 3.4. Overview of Key Regions/Countries
  • 3.5. Overview of Market Drivers, Challenges, Trends

4. Voice of Customer

5. Global Aromatics Market Outlook

  • 5.1. Market Size & Forecast
    • 5.1.1. By Value
  • 5.2. Market Share & Forecast
    • 5.2.1. By Type (Styrene, Xylene, Benzene, Others)
    • 5.2.2. By Application (Solvent and Additive)
    • 5.2.3. By End-Use Industry (Paint & Coatings, Adhesives, Pharmaceuticals, Chemicals and Others)
    • 5.2.4. By Company (2022)
    • 5.2.5. By Region
  • 5.3. Market Map

6. North America Aromatics Market Outlook

  • 6.1. Market Size & Forecast
    • 6.1.1. By Value
  • 6.2. Market Share & Forecast
    • 6.2.1. By Type
    • 6.2.2. By Application
    • 6.2.3. By End-Use Industry
    • 6.2.4. By Country
  • 6.3. North America: Country Analysis
    • 6.3.1. United States Aromatics Market Outlook
      • 6.3.1.1. Market Size & Forecast
        • 6.3.1.1.1. By Value
      • 6.3.1.2. Market Share & Forecast
        • 6.3.1.2.1. By Type
        • 6.3.1.2.2. By Application
        • 6.3.1.2.3. By End-Use Industry
    • 6.3.2. Mexico Aromatics Market Outlook
      • 6.3.2.1. Market Size & Forecast
        • 6.3.2.1.1. By Value
      • 6.3.2.2. Market Share & Forecast
        • 6.3.2.2.1. By Type
        • 6.3.2.2.2. By Application
        • 6.3.2.2.3. By End-Use Industry
    • 6.3.3. Canada Aromatics Market Outlook
      • 6.3.3.1. Market Size & Forecast
        • 6.3.3.1.1. By Value
      • 6.3.3.2. Market Share & Forecast
        • 6.3.3.2.1. By Type
        • 6.3.3.2.2. By Application
        • 6.3.3.2.3. By End-Use Industry

7. Europe Aromatics Market Outlook

  • 7.1. Market Size & Forecast
    • 7.1.1. By Value
  • 7.2. Market Share & Forecast
    • 7.2.1. By Type
    • 7.2.2. By Application
    • 7.2.3. By End-Use Industry
    • 7.2.4. By Country
  • 7.3. Europe: Country Analysis
    • 7.3.1. France Aromatics Market Outlook
      • 7.3.1.1. Market Size & Forecast
        • 7.3.1.1.1. By Value
      • 7.3.1.2. Market Share & Forecast
        • 7.3.1.2.1. By Type
        • 7.3.1.2.2. By Application
        • 7.3.1.2.3. By End-Use Industry
    • 7.3.2. Germany Aromatics Market Outlook
      • 7.3.2.1. Market Size & Forecast
        • 7.3.2.1.1. By Value
      • 7.3.2.2. Market Share & Forecast
        • 7.3.2.2.1. By Type
        • 7.3.2.2.2. By Application
        • 7.3.2.2.3. By End-Use Industry
    • 7.3.3. United Kingdom Aromatics Market Outlook
      • 7.3.3.1. Market Size & Forecast
        • 7.3.3.1.1. By Value
      • 7.3.3.2. Market Share & Forecast
        • 7.3.3.2.1. By Type
        • 7.3.3.2.2. By Application
        • 7.3.3.2.3. By End-Use Industry
    • 7.3.4. Italy Aromatics Market Outlook
      • 7.3.4.1. Market Size & Forecast
        • 7.3.4.1.1. By Value
      • 7.3.4.2. Market Share & Forecast
        • 7.3.4.2.1. By Type
        • 7.3.4.2.2. By Application
        • 7.3.4.2.3. By End-Use Industry
    • 7.3.5. Spain Aromatics Market Outlook
      • 7.3.5.1. Market Size & Forecast
        • 7.3.5.1.1. By Value
      • 7.3.5.2. Market Share & Forecast
        • 7.3.5.2.1. By Type
        • 7.3.5.2.2. By Application
        • 7.3.5.2.3. By End-Use Industry

8. Asia-Pacific Aromatics Market Outlook

  • 8.1. Market Size & Forecast
    • 8.1.1. By Value
  • 8.2. Market Share & Forecast
    • 8.2.1. By Type
    • 8.2.2. By Application
    • 8.2.3. By End-Use Industry
    • 8.2.4. By Country
  • 8.3. Asia-Pacific: Country Analysis
    • 8.3.1. China Aromatics Market Outlook
      • 8.3.1.1. Market Size & Forecast
        • 8.3.1.1.1. By Value
      • 8.3.1.2. Market Share & Forecast
        • 8.3.1.2.1. By Type
        • 8.3.1.2.2. By Application
        • 8.3.1.2.3. By End-Use Industry
    • 8.3.2. India Aromatics Market Outlook
      • 8.3.2.1. Market Size & Forecast
        • 8.3.2.1.1. By Value
      • 8.3.2.2. Market Share & Forecast
        • 8.3.2.2.1. By Type
        • 8.3.2.2.2. By Application
        • 8.3.2.2.3. By End-Use Industry
    • 8.3.3. South Korea Aromatics Market Outlook
      • 8.3.3.1. Market Size & Forecast
        • 8.3.3.1.1. By Value
      • 8.3.3.2. Market Share & Forecast
        • 8.3.3.2.1. By Type
        • 8.3.3.2.2. By Application
        • 8.3.3.2.3. By End-Use Industry
    • 8.3.4. Japan Aromatics Market Outlook
      • 8.3.4.1. Market Size & Forecast
        • 8.3.4.1.1. By Value
      • 8.3.4.2. Market Share & Forecast
        • 8.3.4.2.1. By Type
        • 8.3.4.2.2. By Application
        • 8.3.4.2.3. By End-Use Industry
    • 8.3.5. Australia Aromatics Market Outlook
      • 8.3.5.1. Market Size & Forecast
        • 8.3.5.1.1. By Value
      • 8.3.5.2. Market Share & Forecast
        • 8.3.5.2.1. By Type
        • 8.3.5.2.2. By Application
        • 8.3.5.2.3. By End-Use Industry

9. South America Aromatics Market Outlook

  • 9.1. Market Size & Forecast
    • 9.1.1. By Value
  • 9.2. Market Share & Forecast
    • 9.2.1. By Type
    • 9.2.2. By Application
    • 9.2.3. By End-Use Industry
    • 9.2.4. By Country
  • 9.3. South America: Country Analysis
    • 9.3.1. Brazil Aromatics Market Outlook
      • 9.3.1.1. Market Size & Forecast
        • 9.3.1.1.1. By Value
      • 9.3.1.2. Market Share & Forecast
        • 9.3.1.2.1. By Type
        • 9.3.1.2.2. By Application
        • 9.3.1.2.3. By End-Use Industry
    • 9.3.2. Argentina Aromatics Market Outlook
      • 9.3.2.1. Market Size & Forecast
        • 9.3.2.1.1. By Value
      • 9.3.2.2. Market Share & Forecast
        • 9.3.2.2.1. By Type
        • 9.3.2.2.2. By Application
        • 9.3.2.2.3. By End-Use Industry
    • 9.3.3. Colombia Aromatics Market Outlook
      • 9.3.3.1. Market Size & Forecast
        • 9.3.3.1.1. By Value
      • 9.3.3.2. Market Share & Forecast
        • 9.3.3.2.1. By Type
        • 9.3.3.2.2. By Application
        • 9.3.3.2.3. By End-Use Industry

10. Middle East and Africa Aromatics Market Outlook

  • 10.1. Market Size & Forecast
    • 10.1.1. By Value
  • 10.2. Market Share & Forecast
    • 10.2.1. By Type
    • 10.2.2. By Application
    • 10.2.3. By End-Use Industry
    • 10.2.4. By Country
  • 10.3. MEA: Country Analysis
    • 10.3.1. South Africa Aromatics Market Outlook
      • 10.3.1.1. Market Size & Forecast
        • 10.3.1.1.1. By Value
      • 10.3.1.2. Market Share & Forecast
        • 10.3.1.2.1. By Type
        • 10.3.1.2.2. By Application
        • 10.3.1.2.3. By End-Use Industry
    • 10.3.2. Saudi Arabia Aromatics Market Outlook
      • 10.3.2.1. Market Size & Forecast
        • 10.3.2.1.1. By Value
      • 10.3.2.2. Market Share & Forecast
        • 10.3.2.2.1. By Type
        • 10.3.2.2.2. By Application
        • 10.3.2.2.3. By End-Use Industry
    • 10.3.3. UAE Aromatics Market Outlook
      • 10.3.3.1. Market Size & Forecast
        • 10.3.3.1.1. By Value
      • 10.3.3.2. Market Share & Forecast
        • 10.3.3.2.1. By Type
        • 10.3.3.2.2. By Application
        • 10.3.3.2.3. By End-Use Industry

11. Market Dynamics

  • 11.1. Drivers
  • 11.2. Challenges

12. Market Trends & Developments

  • 12.1. Recent Developments
  • 12.2. Product Launches
  • 12.3. Mergers & Acquisitions

13. PESTLE Analysis

14. Porter's Five Forces Analysis

  • 14.1. Competition in the Industry
  • 14.2. Potential of New Entrants
  • 14.3. Power of Suppliers
  • 14.4. Power of Customers
  • 14.5. Threat of Substitute Product

15. Competitive Landscape

  • 15.1. Business Overview
  • 15.2. Company Snapshot
  • 15.3. Products & Services
  • 15.4. Financials (In case of listed companies)
  • 15.5. Recent Developments
  • 15.6. SWOT Analysis
    • 15.6.1. DuPont de Nemours, Inc.
    • 15.6.2. Alpek S.A.B. de C.V
    • 15.6.3. BP PLC
    • 15.6.4. China National Petroleum Corporation
    • 15.6.5. Exxon Mobil Corporation
    • 15.6.6. Indorama Ventures PLC
    • 15.6.7. Reliance Industries Limited
    • 15.6.8. Shell Chemicals Limited
    • 15.6.9. SABIC
    • 15.6.10. Lyondell Basell Industries Inc.

16. Strategic Recommendations