Solvents: A Global Strategic Business Report
San Jose, CA (PRWEB) February 28, 2008
Regulatory concerns, marked shift towards oxygenated and green solvents, decline in chlorinated and hydrocarbon solvents, and strong demand in certain emerging economies are the key factors fueling modest growth in the global solvents market. In the United States, a key issue for solvents is the constantly changing regulatory environment, governed by central and state laws. The most important, the 1990 Clean Air Act amendments, limited hazardous air pollutants (HAPs) and VOCs, thereby affect use of several solvents. The Architectural and Industrial Maintenance (AIM) regulation restricts VOCs in coatings and industries. The Montreal Protocol of 1995 led to the phase out of numerous ODS solvents. Solvents listed as HAPs are xylene, toluene, MEK, MIBK and glycol ethers. As VOC regulations get tougher, future applications would feature only powerful solvents alongside VOC de-listed solvents. These and other environmental issues are intensifying growth for green solvents in several countries worldwide. Green solvents such as terpenes, hydrogen peroxide, propylene glycol, and others are being increasingly preferred due to eco-friendly aspects of such products. Adding fuel to the growth, the regulations insist and compel the use of green solvents in several developing nations. On the other hand, reduction in prices of green solvents with support from technological developments would ensure robust growth for eco-friendly green solvents across the globe in the coming years.
Global solvents market is experiencing steady growth driven by increasing consumption from technologically advanced sectors of electronics, medical products, and automotives. Asia-Pacific is the largest and the fastest growing solvents market in the world and is projected to reach 6.4 million metric tons by 2010, growing at a compounded annual rate of about 4.8% over the period 2001-2010. A strong economic and investment attitude would promote demand for solvent-based products. Majority of these products would be manufactured in the Asia-Pacific region because of lower labor and transportation costs. Demand for solvents in China is expected to be robust due to growing demand in pesticides, paints and coatings, chemicals, rubbers, print inks, adhesives, cosmetics, pharmacy, light and other industries.
Oxygenated solvents market represents the largest segment in the global solvents market and is projected to exceed 12.9 million metric tons by the year 2010. Green solvents market is the fastest growing segment in the global solvents market and is projected to register a CAGR of over 4.2% during the analysis period. Some of the largest selling solvents include hydrochlorofluorocarbons, hydrofluorocarbons, perchloroethylene, and trichloroethylene. Traditionally, chlorofluorocarbons (CFCs) and chlorinated solvents, the most effective solvents, were undisputed leaders in the market. However, growing environmental concerns world over is limiting the growth of these solvents. Technological advancements and high prices of effective solvents including fluorocarbons are significantly affecting the market.
"Solvents: A Global Strategic Business Report" published by Global Industry Analysts, Inc., provides a review of market trends, product overview, end-use market analysis, regulatory and environmental issues, product introductions/innovations, and recent industry activity. The study also analyzes market data and analytics in volume sales for regions such as United States, Canada, Japan, Europe, Asia-Pacific, Latin America, and Rest of World by the following product segments - Oxygenated Solvents (Alcohols, Ketones, Esters, & Ethers), Chlorinated Solvents, Hydrocarbon Solvents, and Green Solvents. The study also includes long-term projections for Solvents for the period 2011-2015.
Key players dominating the global solvents market include Basell, BASF AG, BP Plc, Celanese Corporation, Chevron Phillips Chemical Company, CITGO Petroleum Corporation, Eastman Chemical Company, Exxon Mobil Corporation, INEOS Group Limited, Lyondell Chemical Company, Sasol Limited, Shell Chemicals Limited, The Dow Chemical Company, Total SA, and Vulcan Chemicals.
For more details about this research report, please visit http://www.strategyr.com/Solvents_Market_Report.asp
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