Aromatic Solvents Market Scenario:
The lithography Aromatic Solvents process segment is anticipated to observe a higher CAGR during the forecast period. The enhanced and superior qualities of these Aromatic Solvents such as image quality and low cost among others find its application in wide range of materials. Moreover, the growing demand for food & beverage and the automotive industry is also significantly adding to the growth of the segment.
The global Aromatic Solvents market is spanned across five key regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to be the fastest growing region at an exponential CAGR. The presence of the most populated countries of the world such as India and China has augmented the demand for various sectors such as food and beverage, personal care, home care, and automotive among others, which, in turn, is anticipated to fuel the demand for Aromatic Solvents in the region. Moreover, the growing processed food demand mainly in Japan, India, and China owing to the growing working population and changing lifestyle is also expected to contribute to the market.
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Aromatic Solvents Regional Analysis
The Aromatic Solvents Market is segmented across five regions: Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Among these, Asia Pacific holds a major share of the market and is expected to grow at an exponential CAGR. The growing population and the increasing personal disposable income in the developing nations are the major factors driving the growth of the Aromatic Solvents market. Moreover, the growing inter-country trade in the region has augmented the use of Aromatic Solvents in packaging and corrugated boxes which is further adding to the growth of the market. Furthermore, with the increasing working population, the demand for processed and on-the-go food products are propelling in the region which in turn is adding to the market growth owing to the use of Aromatic Solvents in label and stickers in the food and beverage industry.
North America is another dominant region for the market of Aromatic Solvents exhibiting a growing CAGR. The presence of well-developed end-user industries coupled with the growing adoption rate are the major factors adding to this growth. Moreover, the fast-paced lifestyle has augmented the demand for on the go food and beverages which is further expected to propel the growth in this region. In addition to this, the regulations by the FDA to display product information in packaging and labels is also contributing to the growth of the market.
Aromatic Solvents market is segmented into process, resin type and application. On the basis of the process, the market is segregated into gravure, flexographic, lithographic, digital, and others. The market by the resin type is bifurcated into modified rosin, hydrocarbon, modified cellulose, acrylics, polyamide, polyurethane, and others. The market by the application is further bifurcated into packaging and labels, corrugated cardboards, publication & commercial printing, and others.
Aromatic Solvents Key Players Analysis-
Some of the prominent players operating in the Global Aromatic Solvents market are Exxon Mobil Corporation (U.S.), Celanese Corporation (U.S.), Royal Dutch Shell plc (U.K) , Eastman Chemical Company (U.S.), BASF SE (Germany), Lyondell Basell Industries Holdings B.V (Netherland), Chevron Phillips Chemical Company LLC (U.S), Honeywell International Inc (U.S.), Sasol Ltd and Ineos AG
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The report covers brief analysis of the major geographic regions namely Asia Pacific, Europe, North America, Latin America, and the Middle East & Africa.
- Aromatic Solvents market manufacturers
- Traders and Distributors of Aromatic Solvents market
- Production process industries
- Potential investors
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