Aromatic Solvents Market: Rising Demand for Adhesives and Sealants in Automotive Sector to Bolster Uptake, TMR

The aromatic solvents market is fairly fragmented with few manufacturers exhibiting a marked degree of integration in the first stage of the industry value chain, observes Transparency Market Research (TMR). Key players operating in the aromatic solvents market include Eastman Chemical Company, Celanese Corporation, LyondellBasell, BASF SE, Chevron Phillips Chemical Company, Exxon Mobil Corporation, Honeywell UOP, and Royal Dutch Shell plc.

The global aromatic solvents market was valued at US$6.18 billion in 2014 and is projected to expand at a 4.2% CAGR from 2015 to 2023. Growing at this pace, the valuation of the market is anticipated to reach US$7.76 billion by the end of the forecast period.

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Asia Pacific to Offer Abundant Opportunities for Manufacturers to Capitalize on

Geographically, the aromatic solvents market is segmented into Europe, North America, Asia Pacific, the Middle East and Africa (MEA), and Latin America. Of these, Asia Pacific accounted for the major share in 2014, in terms of volume, and the regional market is projected to rise at a spectacular CAGR during the forecast period. The dominance of the regional market is attributed to the rapid growth of the chemicals industry.

The major product segments are benzene, toluene, xylene, and solvent naphtha. Of these, the toluene segment accounted for the major market share in 2014. The demand for toluene is primarily driven by its substantial applications in various industries such as adhesives, paints and coatings, inks, and pharmaceuticals.

Extensive Application of Aromatic Compounds in Paints and Coatings Industry

The aromatic solvents market is primarily driven by the extensive applications of various product segments in the paints and coating industry. The significant rate of solvency of aromatic solvents has popularized their applications in a number of end-use industries such as automotive, pharmaceuticals, and oilfield chemicals. The extensive application of various aromatic compounds in the paints and coatings industry to speed up the drying process. In addition, these compounds dissolve or disperse a variety of components such as additives, binders, extenders, and pigments, and help in the formation of a homogeneous solution. Hence, they are used by manufacturers in the formulation of paints and coatings, which is a crucial factor boosting the uptake of aromatic solvents.

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The growing number of use of aromatic compounds in the pharmaceutical and oilfield industries is anticipated to accentuate the market in the coming years. The substantial use of xylene in synthesis of several active pharmaceutical ingredients and in the cleaning of pharmaceutical equipment is anticipated to boost the market. In addition, the use of aromatic solvents in various drug formulation process is expected to catalyze the market growth.

The extensive application of aromatic solvents as excellent corrosion inhibitors in the oil and gas industry is further expected to boost the market. However, stringent environmental norms and regulations related to VOC (volatile organic compounds emission) and a gradual industrial shift toward the adoption of non-aromatic solvents are crucial factors likely to hinder the market to an extent. Nevertheless, the burgeoning demand for adhesives and sealants in the automotive sector has boosted the use of aromatic compounds is expected to catalyze the market world over.

Superabrasives (Turning, Cutting, Buffing, Drilling, Boring, Grinding) Market Research Report 2025

An abrasive is a material which molds or provides finishing to a work piece through a process which includes buffing, grinding, cutting, as well as polishing. Abrasion typically depends on the difference in the hardness of the material and the abrasive (with the latter being the harder of the two). Unlike regular abrasion where any two solid materials that repeatedly rub against each other tend to wear away, superabrasives possess the kind of hardness that enables them to stay usable for a longer period of time. On the basis of hardness, the top two superabrasives include diamond and cubic boron nitride (CBN). Industrial diamonds used as superabrasives are exceptionally hard materials. However, they display several technological limitations. For instance, when a diamond comes in contact with a ferrous alloy such as steel or a nickel superalloy, the resulting formation of carbide leads to its abrasion. Also, a diamond-containing tool can only be used at moderate temperatures a

Industrial Lubricants Market: Strong Demand Across Automotive Industry, Trends To 2025

Lubricants refer to the organic or inorganic material primarily being use to decrease friction between two surfaces in contact. Lubricants play a key role in several industries as well as in commercial and residential sectors. One of their most common uses is in the lubrication of bearings and gears, allowing for their easy movement at high speeds, without loss in energy, prevent excessive generation of heat, or most importantly, prevent damage that would be caused otherwise. Industrial lubricants are, therefore, essential in enhancing the overall efficiency of a machine that contains moving parts in contact with one another. The global industrial lubricants market is currently expanding at a solid growth rate, driven by several factors and spearheaded by the likes of BP, Total, Chevron Corporation, ExxonMobil, and Shell. Browse Market Research Report @ http://www.transparencymarketresearch.com/industrial-lubricants-market.html What Impact has the Oil and Gas Industry Had

Rapid Prototyping Market - Rapidly Gaining Importance in Aerospace Sector, Research By 2024

Rapid prototyping is a technique in which the physical modeling of a design is done with the help of specialized machining technology. It was developed initially in the mid-1980s, the principle used in this technology is of solid modeling with the help of computer programs (i.e. CAD). Solid modeling makes use of computer aided-design (CAD) data to completely describe not just the external shape of parts or equipment, but its interior volume as well as the outside surfaces. The computer model is sliced into thin layers and the part of the product or commodity to be modelled or developed as per the requirement, is eventually fabricated by adding layers onto each other. Obtain Report Details @ http://www.transparencymarketresearch.com/rapid-prototyping-market.html The primary benefit of the system is that almost any shape can be manufactured using computerized programs. Time and money savings vary from 50% to 90% compared to conventional systems. Types of rapid prototypi

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