Industry Survey, Growth, Competitive Landscape
and Forecasts to 2027
Market Research Future
(Part of Wantstats Research & Media Pvt. Ltd.)
• Aromatics are used in a wide variety of applications, which is capable of offering versatile nature, safety, and high performance to the product.
Thus, they are used in various applications such as pharmaceuticals, automotive, paints & coating, oil & gas, chemicals, and others. The global
aromatics market is spanned across five regions of the world namely Asia Pacific, Europe, North America, Latin America, and the Middle East &
Africa. Among these, Asia Pacific holds a major share of the global market and is projected to continue leading, owing to the increasing
consumption of aromatics in automotive, pharmaceuticals, paints & coatings, chemical, and others. It is estimated that the paints & coatings
segment is set to observe the highest CAGR in the market due to the growing use of organic compounds to improve the performance and
increase the life cycle of the product. Moreover, increasing demand for toluene as a solvent in paint thinners, nail polish removers, glues, and
other products is likely to witness a rapid growth during the forecast period. These factors have led to China, India, and Japan to be the major
players of this region.
The North American market is expected to grow at a higher CAGR due to extensive consumption of aromatics in paints & coating, oil & gas,
chemicals, and others. The U.S., Canada, and Mexico have achieved a significant place in the market due to the growing investments in the end-
use industries. Therefore, the growing demand for synthetic rubber and plastics made from aromatics are estimated to drive the market during
the forecast period.
Aromatic Market2021: Industry Survey, Growth, Competitive
Landscape and Forecasts to 2027
• Market Segmentation:
The global aromatics market is segmented into ty