By region, the study provides market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Aromatic Market dominated this market in 2022 (45.80%). This is as a result of a rise in the demand for aromatics from numerous end-use industries, including the automotive, paint & coatings, construction, and personal care goods sectors, among others. Additionally, it is anticipated that the strong demand for both new and used cars in many countries, particularly in the US, will increase the market for automotive coating refinishing.
Additionally, the market in this region is expanding its investments in research activities for the creation of cutting-edge, innovative, and durable products, particularly in the United States and Canada. This is causing the market to experience revenue growth. Further, the U.S. Aromatic market held the largest market share, and the Canada Aromatic market was the fastest growing market in the North America region.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
April 2024: BP, a prominent producer of aromatic fuels, anticipates that upstream production of low-carbon energy and oil and gas in the first quarter will surpass that of the previous three months. In addition to positive outcomes in oil and gas trading, the London-listed oil major anticipates a $100 million-$200 million increase due to enhanced oil refining margins. In contrast, BP's gas and low-carbon energy segment will incur a $200 million to $400 million loss due to lower realized prices, the company said in its initial trading outlook for 2024.
It was stated that lower realized prices would have a negative impact of $300 million to $600 million on the oil industry, owing in part to price lags in production in the Gulf of Mexico and the United Arab Emirates.
Brenntag, a German distribution colossus, and Canada Colors and Chemicals (CCC) have reached an agreement for Brenntag to acquire CCC's chemicals distribution business, which is based in Toronto. The terms of payment were not disclosed. By acquiring CCC, Brenntag enhances its specialized capabilities and concentration in the fields of material science and life science. The comprehensive range of products and services offered by CCC and its broad positioning align seamlessly with the offerings of Brenntag to its suppliers and customers.
CCC manages a number of storage, blending, and packaging facilities throughout Canada for industrial and specialty chemicals and products, catering to the construction, energy, mining, and life sciences sectors. Its life science division provides a number of its own formulations and maintains a constituents application laboratory. Brenntag stated that the German group's oil & gas operations in Canada present interesting synergistic business opportunities due to CCC's formulation expertise and compounding capabilities in the oil & gas industry.
Figure 2: AROMATIC MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review
Europe Aromatic market accounted for a healthy market share in 2022. Consumer demand for fuel-efficient vehicles and increased disposable income are two key factors impacting market revenue growth in this region. Further, the German Aromatic market held the largest market share, and the U.K Aromatic market was the fastest growing market in the European region
The Asia Pacific Aromatic market is expected to register significant growth from 2023 to 2032. This is a result of the increasing usage of products made from aromatics in the manufacture of automobiles by the automotive industry. Aromatics are used in the construction industry for a number of applications, including pipelines, insulation, window frames, and interior design, which can enhance quality of life and develop enduring infrastructure.
Additionally, a large number of new businesses entering this region's market are investing in the creation and distribution of a range of aromatic items, which is projected to aid in the revenue expansion of the sector. Moreover, China’s Aromatic market held the largest market share and the Indian Aromatic market was the fastest growing market in the Asia-Pacific region.