Europe Toluene Market Report and Forecast 2024-2032

Europe Toluene Market Outlook

The Europe toluene market is being aided by the global toluene market, which is expected to grow at a CAGR of 5.4% in the forecast period of 2024-2032 to attain a value of USD 47.17 billion by 2032.

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Rising Downstream Demand to Bolster the Toluene Market in Europe

The European Union is a major exporter of toluene to countries like the United States, African and Middle Eastern countries owing to the surplus supply. The European Union, however, is likely to become a net importer in the coming years due to the changing feedstock dynamics. In order to meet about 10% of its regional demand, the European Union significantly relies on imports from the United States and other regions.

The toluene market in Europe is majorly impacted by the growing demand for benzene, which is being aided by the growth of downstream application sectors like automobiles, construction, and personal care. The increasing demand for mixed xylene is also positively affecting the market demand for toluene. The European market is witnessing a positive demand from the gasoline blend segment. The application of toluene as an intermediate for other chemicals accounts for the majority of its use in the European Union.

Toluene: Industry Definition and Segments

Toluene, or toluol, is an aromatic hydrocarbon. It is a colourless, water-insoluble fluid with the smell of paint thinners. Its systematic IUPAC name is methylbenzene due to being a mono-substituted benzene derivative, which consists of a phenyl group with a group of attached CH3.

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By technology, the market is segmented into:

• Reformation Process
• Pygas Process
• Coke/Coal Process
• Styrene Process
• Others

Based on application, the industry is divided into:

• Gasoline
• STDP/TPX
• Solvents
• Trans Alkylation (TA)
• Hydrodealkylation
• Toluene Diisocyanate (TDI)
• Toluene Disproportionation (TDP)
• Others

The regional markets for toluene in Europe are Germany, the United Kingdom, France, and Italy.

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Rising Solvent Demand to Bolster the Toluene Industry Growth in Europe

The toluene market in Europe is majorly being driven by the rising demand for the product as a solvent. The rising demand for toluene is being aided by the demand for its conversion to benzene. The growing markets for products like paint thinners, nail polish removers, correction fluids, hair dyes, and glues is further aiding the growth of the toluene market in Europe.

The product is also widely used in the explosives industry, which is growing at a fast pace due to increased mining activities. The explosives industry is significantly growing, globally as well as in Europe. The use of toluene in the production of flammable and explosive compounds like TNT is providing a further impetus to the market growth. The regional industry is also being propelled by the rapidly growing textile industry, which uses toluene as a solvent.

The market for toluene is expected to be boosted by the rising economy of Europe in the coming years. The demand for toluene is further being boosted by the rising industrial sector in the region. The growing pharmaceuticals sector within the region is also expected to catalyse the market growth.

Key Industry Players in the Europe Toluene Market

The report gives a detailed analysis of the following key players in the Europe toluene market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Exxon Mobil Corporation
• Covestro AG
• TOTAL S.A.
• BASF SE
• Dow Chemical Company
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report