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The North America aromatic compounds market size reached USD 55.2 billion in 2023. The market is expected to grow at a CAGR of 4.7% between 2024 and 2032, reaching almost USD 83.8 billion by 2032.
The North America aromatic compounds market is a thriving segment within the chemical industry while witnessing robust growth and offering lucrative prospects for stakeholders. These compounds, characterised by their distinct fragrance, find extensive use in perfumes, cosmetics, pharmaceuticals, and food additives. Derived from both natural sources like plants and flowers and synthesised through chemical processes, aromatic compounds play a pivotal role in industries relying on sensory appeal.
Key players are investing in R&D to develop innovative aromatic compounds to meet evolving consumer preferences and regulatory standards. The market's growth is fuelled by factors such as increased demand for fragrances and flavours, especially in emerging economies like India and China, and expanding applications in various sectors like packaging, automotive, and electronics.
Aromatic compounds, derived from petroleum sources or coal tar, are witnessing heightened demand from industries such as paints and coatings, pharmaceuticals, and medical devices. Rising investments in R&D, particularly in major companies, and technological advancements are driving the North America aromatic compounds market development.
The U.S. dominates the aromatic compounds market, driven by increased R&D activities and demand for automotive coatings. The market is poised for growth, supported by expanding applications, technological advancements, and rising demand for lighter, fuel-efficient vehicle components made from aromatic compounds.
Opportunities for growth include the use of bio-based aromatics and technological advancements to reduce waste. Overall, the aromatic compounds market is expected to thrive, driven by increasing demand from various industries and advancements in production techniques.
North America Aromatic Compounds Market Report and Forecast 2024-2032 offers a detailed analysis of the market based on the following segments:
Market Breakup by Type
Market Breakup by Application
Market Breakup by End-Use
Market Breakup by Country
Key players are engaged in product development to gain a competitive edge in the market.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Application |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The market is estimated to be valued at USD 55.2 billion in 2023.
The market is projected to grow at a CAGR of 4.7% between 2024 and 2032.
The aromatic compounds market is expected to witness significant growth to reach USD 83.8 billion in 2032.
The market is categorised according to its application, which includes additive and solvent.
The key market players are Shell Plc, Exxon Mobil Corporation, BASF SE, Chevron Phillips Chemical Company LLC, TotalEnergies SE, Toray Industries Inc., Thermo Fisher Scientific Inc., INEOS Capital Limited, Tokyo Chemical Industry Co., Ltd., and others.
The market is driven by factors that include increased demand for fragrances and flavours expanding applications in various sectors like packaging and automotive, and rising demand for lighter, fuel-efficient vehicle components made from aromatic compounds.
The market is categorised according to its end-use, which includes detergent and dyes, paint and coating, pharmaceuticals, household goods, and others.
Benzene is the most common parent aromatic compound structure.
Aromatic compounds, characterised by their stability and unsaturation, typically exhibit non-polar properties and do not mix well with water. When ignited, they produce a sooty yellow flame owing to their high carbon-to-hydrogen ratio. Unlike addition reactions, aromatic compounds primarily undergo substitution reactions.
Renowned aromatic blends include the French mirepoix, comprising onions, leeks, carrots, and celery, the Cajun/Creole holy trinity consisting of onions, green bell peppers, and celery, and the Asian trinity featuring ginger, garlic, and scallions.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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