Toluene, also known as methylbenzene is an aromatic hydrocarbon that is used in industrial feedstock and as a solvent. It is regarded as an aromatic compound due to the occurrence of a benzene ring in its chemical structure. The chemical is used as a hepatoprotective, neurotransmitter, beta-oxidant, anesthetic, as well as a depressant agent. Toluene is widely used in paint thinners, glues, nail polish removers, and in correction fluids.
Application of Toulene In Various Industries
Majorly toluene industries include the cosmetic, automobile and the stationery industry. For instance, formula one cars make extensive use of Toulene as a chemical. The cars are treated with Toulene as an anti-knock fuel because Toulene has a high boiling temperature and does not suffer combustion under low temperatures. Toulene also provides a high octane rating which makes it a good choice for technologically updated and race-oriented automobiles. Other applications of Toulene include industries producing explosives and dyes.
Market Factors Influencing Toluene Market
The Toluene market is highly dependent on the market of benzene and xylene as these two chemicals are the driving agents in the synthesis of Toluene. The Toulene market growth in terms of revenue and volume is further expected to expand with the growing demand for its derivatives such as Polyethylene Terephthalate (PET), Polystyrene (PS) and Cumene. A rise in the industrial feedstock and solvents demand is also expected to boost the demand for Toluene across the globe. The Toluene market is segmented into various factors including its derivative type, the geography of the end-user, and Toluene’s application.
Based on the derivatives of Toluene, it’s market can be classified into the market of benzene and xylene. The market of gasoline additives, benzaldehyde and benzoic acid, diisocyanates and other solvents also have a direct impact on the demand and production of Toluene. On the basis of application, Toluene’s functionality sees employment in the synthesis of drugs, cosmetic nail products, dyes and gardening catalysts such as pesticides and fertilizers. Toluene as a chemical is further segmented into being used in the ‘reformative process’, ‘pygas process’, in ‘styrene process’ and in the ‘coal process’.
The Scenario of Toluene’s Global Market
Toluene is foreseeing an increase in demand because it is widely used in gasoline blends. The chemical acts as an octane booster and characteristically maintains the energy content of gasoline to maintain and elongate is shelf-life. This is one of the reasons why Toluene is highly recommended and used amongst the petrochemical and metallic industries. Demand for aromatic compounds such as Toluene in petrochemical industries is trending among toluene derivatives distributor. This is because products such as synthetic fibers, agrochemicals, dyes, and elastomers are emerging factors in the growth of the Toluene market.
The global Toluene market is offering various opportunities to market players across the globe. The production of Toluene Diisocyanate (TDI) is expected to increase many folds in the coming few years. This is because of the heightened demand in polyurethanes. Key Toluene market players are factored on the rising investment costs in Toluene industries in developing countries.