Aromatic Solvents Market Share | Report By Manufacturers, And Segment Forecasts, 2020-2027

Aromatic solvents are defined as a class of solvents that contains an aromatic hydrocarbon such as naphtha, toluene, or xylene. A new report on the global aromatic solvents market, published by Market Research Future (MRFR), predicts that this market can see growth during the forecast period (2021-2027).

The most important market driver for the global aromatic solvents market growth is demand from the end-use industries. The surging industrialization and urbanization in developing countries can enhance the market growth. Other factors aiding the global aromatic solvents market growth include increasing infrastructural development, subsequent increase in the construction sector, growing energy demand, subsequent increase in the oil & gas activities, favorable regulations from governments in many countries, increasing investment from market players, increasing use of corrosion inhibitors in the oil & gas industry, and lastly, increasing application of aromatic solvents in the paints & coatings industry.

Market Segmentation

The global Aromatic Solvents Market Share segmentation encompasses application and product type. MRFR’s research on the market highlights many factors of the market in-depth.

The application-based segmentation of this market can cover adhesives & sealants, automotive, cosmetics, electronics, oilfield chemicals, paints & coatings, pesticides, pharmaceuticals, textiles, and others. The paints & coatings segment occupies the maximum market share among all segments.

Based on product type, the market can be segmented into benzene, solvent naphtha, toluene, and xylene. Benzene is the leading market segment among all segments.

Key Players

Big players in the global aromatic solvents market are BASF SE (Germany), Celanese Corporation (USA), Chevron Phillips Chemical Company LLC (USA), Eastman Chemical Company (USA), Exxon Mobil Corporation (USA), Honeywell International Inc. (USA), Ineos AG (UK), LyondellBasell Industries Holdings B.V (Netherland), Royal Dutch Shell PLC (UK), and Sasol Ltd. (South Africa).

Latest Industry News

• From 1 October 2019, Biesterfeld is set to take over the distribution of Selar PA 3426R from DuPont. Selar PA 3426R is highly resistant to aliphatic hydrocarbons, aromatic hydrocarbons, diluted alkalis, and alcohols with molecular weights.

Regional Segmentation

A geographical outlining of the global aromatic solvents market covers Asia Pacific, North America, Latin America, Europe, and the Middle East & Africa (MEA).

The Asia Pacific region holds the biggest share in the global market, and during the forecast period, it has been anticipated to emerge as the fastest-growing market due to the rapid growth of industries and urbanization. Other factors fuelling the market growth in this region include favorable government regulations, an increase in investment by major market players, and the high population in countries like China & India. China, India, and Japan are the biggest consumers of aromatic solvents in this region. Other major markets in this region are Australia and New Zealand. A cognition of the remaining countries in the Asia Pacific region featured in this report adds the extra market revenue to the market from these countries.

North America is another important regional market as the market in this region is being driven by developed end-user industries like construction, electronics, transportation, and others. Due to the presence of many significant market players in the USA and the initiative by the government to increase investment in the development and renovation of residential as well as commercial infrastructure, there is a huge scope for market growth in North America. The shale gas boom has augmented the oil & gas activities in the region, which is contributing to the market growth due to its use in wells and pipelines. Canada and Mexico contribute maximum market revenue to the regional market after the USA.

The market in Europe is lucrative, and its growth is being driven by developed sectors like automobile, construction, and electrical & electronics. The growth of the oil & gas sector, along with the increasing infrastructural development, is also boosting the European market. The demand (and use) for aromatic solvents from the developed pharmaceutical sector cement the aspects of market growth in this region. The primary markets in this region are France, Germany, Italy, Spain, and the UK. The survey of the remaining countries in Europe featured in this report calculates the inclusion of market revenue from those countries.

In Latin America, the market is decent as many key market players based in North America are investing in the oil fields of Latin America for many oil & gas activities. The significant markets in this region are Argentina and Brazil. An estimation of the remaining countries in Latin America listed in this report foresees a decent contribution to market revenue from these countries.

In the MEA region, the market is limited due to the limited availability of technology, but the scope for growth can be huge due to many oil & gas activities. The most important markets in this region. The most crucial markets in this region are Bahrain, Kuwait, Israel, North Africa, Oman, Qatar, Saudi Arabia, and Turkey. An appraisal of the remaining countries in the MEA region featured in this report anticipates a decent contribution to market revenue from these countries.

Cosmetic Antioxidants Market Trends 2021 Business Opportunity, Top Companies, Challenges And Opportunities 2028

 Market Synopsis

According to MRFR analysis, the global Cosmetic Antioxidants Market is expected to reach around USD 212 million by the end of 2028 at a CAGR of 6%.

Cosmetic antioxidants are natural and chemically derived antioxidants used in various target markets for cosmetics products such as skincare, haircare, and makeup. Antioxidants are naturally made from vitamins and minerals that include vitamin A, vitamin C, vitamin E, butylated hydroxyanisole (BHA), carotenoids, and butylated hydroxytoluene (BHT), amongst others. These antioxidants are widely used in various anti-aging, anti-inflammatory, UV protection, moisturizing, and hair conditioning products.

Growing personal care and cosmetics industry, aging population, increase in online purchase, and high demand from emerging economies are some of the factors expected to propel the growth of the global cosmetic antioxidants market. Furthermore, the advancements in technology, R&D,and rising demand for natural antioxidants further fuel the development of the global market. However, the high cost of natural antioxidants and rising concerns over synthetic antioxidants hamper the growth of the market.Further, increasing use of natural and green ingredients, followed by the increasing trend of chemical-free food products driving the demand for organic cosmetic and personal care products. Moreover, owing to such growing concerns, there are new certifications introduced in the market compiling the natural products requirement. For instance, Natural Products Association (NPA) designed a regulatory framework - Natural Standard Certification for Personal Care Products. Another prominent trend observed in the market is a continuous focus on multifunctionality as product development. Although multifunctionality is a relatively old trend in the market, it is being extended towards the newer products in the market. With changing lifestyles, consumer needs are evolving toward multifunctionality in various personal care product categories.

Competitive Landscape

The global Cosmetic Antioxidants Market Trends is consolidated with the presence of numerous global, regional, and local players, with prominent players holding the majority share of the market. Some prominent players include BASF SE,   Koninklijke DSM N.V., Wacker Chemie AG, Eastman Chemical Company, Lonza Group, Croda International Plc, Ashland Global Holdings, Evonik Industries AG, Kemin Industries, Inc., and Barentz International BV, amongst others. Manufacturers focus mainly on acquisitions, jointventures, and partnerships with key stakeholders to gain a competitive advantage over other players.Furthermore, producers are increasingly focusing on a strategic alliance with stakeholders, new product development,and expansion of production capacities to gain a maximum share of the global market. Moreover, due to the coronavirus outbreak globally, theglobal market has witnessed a decline in demand.

Segmentation

By Source

• This segment has been further segmented into natural and synthetic.
• The synthetic segment accounts for the largest market andis expected to witness healthygrowth during the forecast period owing to its growing usage of synthetic antioxidants globally, and low cost of raw material and production compared to natural antioxidants.
• The naturalsegment is expected to witness the fastest growth during the forecast period in terms of value. This growth is attributed to the increased demand for natural products in the cosmetic and personal care industry and increasing consumer inclination towards natural products.

By Application

• This segment has been further divided into skin care, hair care, and makeup.
• The skin care segmentholds the largest share of the global cosmetic antioxidants market owing to the increased demand for cosmetic antioxidants in skin care products such as moisturizers, sun-screen lotions, anti-aging products, etc.
• The haircare segmentis expected to witness significant growth in the global cosmetic antioxidants market owing to its growingapplication in hair conditioners, shampoos, hair cleansing products, etc.
• The makeupsegment includes applications such as foundation, lipsticks, fragrances, etc.

By Type

• This segment has been further bifurcatedintovitamins, carotenoids, polyphenols, enzymes, and others.
• The vitamin segment accounted for the largest market and is expected to record the fastest growth during the forecast period, which is mainly attributed to the health benefits offered by vitamins to the skin and hair.
• The carotenoid segmentis expected to witness healthy growth during the forecast period due to its growing usage in anti-aging products. It enhances the appearance of dry or damaged skin by reducing flaking and restoring suppleness.
• Polyphenols are highly preferred due to their growing usage as anti-inflammatory, anti-aging, antimicrobial, and supporting activity in solar photoprotection.
• Enzymesare highly used in the cosmetic and personal care industry for resurfacing and skin smoothing.
• Other segment includesproducts such as butylated hydroxyanisole (BHA), butylated hydroxytoluene (BHT), retinol, tert-butylhydroquinone (TBHQ), and propyl gallate (PG), among others.

By Region

• North America:Market growthisdriven bythe presence of a large-scale cosmetic and personal care industry, an aging population, and increasing awareness among consumers about self-care.
• Europe: Established cosmetic industry and strong foothold of leading manufacturers are driving the market in the region.
• Asia-Pacific: This is the largestandfastest-growingregionalmarket owing to the rising cosmetic and personal care industry, increasing government investments, and emerging economies such as India, China, and Thailand.
• Latin America:The growing demand is due to the growing personal care and cosmetic industry in the region, especially in Mexico and Argentina.
• Middle East & Africa:High level of disposable incomes, increase in affinity for cosmetics among the youth population, and significant spending on mass and premium cosmeticsare fuelingthedemand for Cosmetic Antioxidantsin the region. 

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