GITNUX MARKETDATA REPORT 2024

Aromatic Solvents Industry Statistics

Aromatic solvents industry is expected to witness steady growth due to increasing demand from various end-use industries.

Statistic 1

"The pharmaceutical industry is the second-largest end-user of aromatic solvents, after the paints and coatings industry."

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Statistic 2

"The Asia-Pacific region accounted for over 40% of the aromatic solvents market in 2020."

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Statistic 3

"The demand for aromatic solvents in the production of adhesives is projected to increase by 2% annually."

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Statistic 4

"Solvents used in the automotive industry represent 15% of the aromatic solvents market."

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Statistic 5

"The use of aromatic solvents in agricultural chemicals increased by 2.5% in 2020."

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Statistic 6

"Environmental regulations are anticipated to impact the growth of the aromatic solvents market."

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Statistic 7

"Benzene-based solvents are facing declining demand due to health risks and regulatory restrictions."

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Statistic 8

"Solvents used in inks and printing represent about 10% of the aromatic solvents market."

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Statistic 9

"Aromatic solvents constitute about 25% of the total organic solvents market."

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Statistic 10

"Increasing demand for low VOC solvents is expected to challenge the aromatic solvents market growth."

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Statistic 11

"The aromatic solvents market is expected to grow at a compound annual growth rate (CAGR) of 4.1% from 2021 to 2028."

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Statistic 12

"The global aromatic solvents market was valued at approximately USD 5.2 billion in 2020."

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Statistic 13

"The market for bio-based solvents is expected to grow, impacting the demand for traditional aromatic solvents."

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Statistic 14

"Toluene held the largest market share of over 50% in the aromatic solvents market in 2020."

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Statistic 15

"By 2028, the aromatic solvents market in North America is expected to reach USD 1.1 billion."

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Statistic 16

"The use of aromatic solvents in the paints and coatings industry accounts for 35% of the market demand."

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Statistic 17

"The demand for xylene as an aromatic solvent is projected to grow by 3.2% annually through 2028."

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Statistic 18

"The growth of the construction industry is a key driver of the aromatic solvents market."

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Statistic 19

"The rapid industrialization in emerging economies is boosting the aromatic solvents market."

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Statistic 20

"The U.S. accounted for approximately 25% of the North American aromatic solvents market in 2020."

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