Industry News
The global aromatic oil market has reached a scale of 5 billion US dollars
Broad aromatic oil market in 2023
As one of the world's largest producers and consumers of aromatic oils, China's market size is even more astonishing. According to the 2022-2027 China aromatics oil industry market in-depth research and development prospects investment feasibility analysis report, statistical data shows that the size of China's aromatics oil market is constantly expanding, with annual sales exceeding 100 billion yuan. Driven by the domestic market, the aromatic oil industry chain is also constantly improving, becoming a key pillar supporting the country's economic development.
Driven by the rise of emerging economies such as China and India, the Asian region has become the main driving force for the growth of demand for aromatic oil. In April 2023, the top two import methods for other aromatic hydrocarbon mixtures in China include general trade and logistics goods from customs special supervision areas. The first general trade, with an import volume of 13.83 thousand tons, accounting for 87.36% of the total import volume, increased by 169.22% month on month and 104.09% year-on-year; The logistics goods in the second customs special supervision area accounted for 12.64% of the total import volume, a year-on-year increase of 4.56%.
At present, the global aromatic oil market has reached a scale of 5 billion US dollars and is showing a rapid growth trend. This huge market size reflects the increasing demand for chemical products and the important position of aromatic oils in industrial production. With the development of the global economy, it is expected that the market size of aromatic oil will further expand.
The global aromatic oil market has a huge scale
In the future, with the deepening of environmental awareness and the continuous maturity of new energy technologies, the market size of aromatic oil is expected to continue to expand. The government's policy orientation will also to some extent affect the development of the aromatics oil market, promote the development of aromatics oil towards a cleaner and more efficient direction, further expand market size, and meet social needs. Therefore, it can be foreseen that in the future development process, the market size of aromatic oil will continue to show a steady growth trend.
In this situation, new products such as bio aromatic oil are gradually receiving attention and occupying a place in the market. This also brings new development opportunities and challenges to the aromatic oil market, and it is expected that the market size may experience more changes and innovation in the future. Currently, the expansion of the aromatic oil market reflects the global economic and industrial development trends, while also echoing people's pursuit of clean energy and sustainable development.
Overall, the expansion of the aromatic oil market not only reflects the development trend of the global economy, but also highlights the importance of aromatic oil in various industries. With the continuous innovation of technology and the increasing demand, it is expected that the market size of aromatic oil will continue to maintain steady growth, injecting new impetus and vitality into the development of related industries and the economy.
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