The global aromatics manufacturing market will grow from $191.8 billion in 2017 to $265.9 billion by 2022.
Albany, NY -- (SBWIRE) -- 06/19/2018 -- Economic growth witnessed in several emerging countries has led to notable developments in multiple industries such as plastics and refrigeration. Proliferated development in these industries have contributed towards growth of aromatics manufacturing market. Market Research Hub (MRH) has recently added a detailed report titled, 'Aromatics Manufacturing: Global Markets to 2022', to evaluate the implications of recent developments on the growth of aromatics manufacturing market.
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Facility Improvement Remains a Dominant Trend in Aromatics Manufacturing Market
Manufacturers in aromatics manufacturing market are investing resources to expand their geographical reach such that they can have a larger presence. Additionally, key players are also integrating efforts to enhance infrastructure such that they yield better production.
Aromatics manufacturer Exxon Mobil has lately rendered a successful acquisition of Jurong Island plant of Jurong Aromatics Corporation. The acquisition will propel Exxon Mobil's objective to boost aromatics production in Singapore. The company aspires to establish Singapore as the hub for its operations in Asia-Pacific region. With this new initiative, Exxon Mobil aims to establish itself a key player in aromatics manufacturing market globally.
Additionally, Exxon Mobil has also recently purchased interest in Carcara Oil Field. With this purchase, the company aims to have an easy access to the vast resources available in offshore areas of Brazil. With strong collaboration with other shareholders, Exxon Mobil aims to hone these shared blocks applying its innovative technology such as deep-water technology. This venture envisions to strengthen the presence of Exxon Mobil in aromatics manufacturing market
Further, DowDuPont Inc, a leading player in aromatics manufacturing market has recently unveiled prepolymer reactors in Germany with a vision to escalate production and meet greater end-user demands in aromatics manufacturing market. The company, with this recent development aims to provide customized products to end-users in less turn-around-time. With this objective achieved, DowDuPont Inc envisions to retain its distinctive presence in aromatics manufacturing market worldwide.
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Asia-Pacific Emerges as the Largest Growing Region in Aromatics Manufacturing Market
Detailed summary of research findings included in the report offer vital statistics to the readers about the categories prevalent in the market. This section of the report outlines product type as the chief category exhibited in aromatics manufacturing market. Based on category, the aromatics manufacturing market is segmented as benzene, xylene, paraxylene, acetone, TDI, phenol, toluene, styrene, PTA, and MDI. Readers can gain pivotal insights from category information provided in this section of the report on aromatics manufacturing market. Readers can identify the growth pattern of the category and its contribution towards revenue generation.
Apart from segmentation, the report also outlays information about various regions of aromatics manufacturing market. Based on region, the market is segmented as Western Europe, North America, Asia-Pacific, and Middle-East. This section enlightens the readers about the various marketing tactics applied by leading players in various regions and their corresponding influence on the growth of aromatics manufacturing market.
Key Players in Aromatics Manufacturing Market
Pivotal information on marketing tactics applied by leading players, aid new entrants and existing market players in formulating core decisions that drive profit. The report also illustrates the strategies adopted by market players to entice customer response and purchase decisions. Leading players identified in aromatics manufacturing market include, BP Plc., PetroChina Company Limited, Royal Dutch Shell plc., Exxon Mobil Corporation, Alpek S.A.B de C.V, DowDuPont Inc. and others
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