Paint & Coatings Segment to Dominate Aromatics Market During Forecast Period
Growing use of aromatic
solvents in the pharmaceutical industry and drug formulation process is
expected to drive the growth of global aromatics market
According
to TechSci Research report, “Global
Aromatics
Market By Type, By Application, By End User Industry, By Region, Forecast
& Opportunities, 2025”, the global aromatics market is expected to grow at a steady
rate during the forecast period on account of the increasing investments in the
construction and automotive industries, which in turn is generating high demand
for aromatic solvents. However, growing environmental concerns can hamper the
growth of market during forecast period. Additionally, volatile prices of raw
materials and high production costs can further restrict the market growth
during forecast period.
Browse
market data Tables and Figures spread through
Pages and an in-depth TOC on " Global
Aromatics Market"
https://www.techsciresearch.com/report/aromatics-market/4398.html
The global aromatics market is segmented based on type, application, end
user industry, company and region. Based on end user industry, the market can
be categorized into paint & coatings, adhesives, pharmaceuticals, chemicals
and others. The paint & coatings industry dominates the market on account
of the increasing population, growing disposable income, rise in urbanization,
which in turn is increasing the demand for construction activities and
infrastructural developments.
DuPont de Nemours, Inc., Alpek
S.A.B de C.V, BP PLC, China National Petroleum Corporation, ExxonMobil
Corporation, Indorama Ventures, Reliance Industries Limited, Shell Chemicals
Ltd., SABIC, Lyondell Basell and others are some of the leading players operating
in global Aromatics market. The companies operating in the market are using
organic strategies such as product launches, mergers and collaborations to
boost their share.
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“Asia-Pacific is expected to be the fastest
growing market for aromatics during the forecast period, owing to the growing population in the region, which
has led to the increase in the number of residential projects in the region.
Additionally, industrialization and government initiatives in countries like
India such as the “Make in India”, which support infrastructural developments, are
expected to give a healthy push to the market in the region.” said
Mr. Karan Chechi, Research Director with TechSci Research, a research based
global management consulting firm.
“Global Aromatics Market By Type, By Application, By
End User Industry, By Region, Forecast & Opportunities, 2025” has evaluated the future growth potential of global aromatics
market and provides statistics & information on market size, structure and
future market growth. The report intends to provide cutting-edge market
intelligence and help decision makers take sound investment decisions. Besides,
the report also identifies and analyzes the emerging trends along with
essential drivers, challenges and opportunities in global aromatics market.
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