Grand View Research
Increasing construction and infrastructure spending in Brazil, China and India is expected to fuel the global solvent demand
San Francisco, California (PRWEB) August 06, 2014
The global market for solvents is expected to reach USD 31.63 billion by 2020, according to a new study by Grand View Research, Inc. Increasing demand for industrial solvents from pharmaceuticals and paints & coatings industry is expected to remain a key driving factor for the global market. Additionally, high infrastructure spending and positive industrial outlook in the emerging markets of Asia Pacific and Latin America is further expected to fuel solvent demand over the next six years.
Alcohol based solvents emerged as the leading product segment and accounted for 29.8% of total market volume in 2013. Along with being the largest product segment, alcohol based solvents is also expected to be the fastest growing products, at an estimated CAGR of 3.5% from 2014 to 2020. Alcohol based solvents were followed by hydrocarbons which are expected to exceed a market worth USD 8 billion by 2020.
The report “Solvent Market Analysis By Product (Hydrocarbons, Alcohols, Esters, Ketones, Chlorinated) By Application (Printing Inks, Paints And Coatings, Pharmaceuticals, Adhesives & Cosmetics) And Segment Forecasts To 2020” is available now to Grand View Research customers at
http://www.grandviewresearch.com/industry-analysis/solvent-market
Request Free Sample of This Report @ http://www.grandviewresearch.com/industry-analysis/solvent-market/request
Further key findings from the study suggest:
- The global market for solvents was 18,303.2 kilo tons in 2013 and is expected to reach 22,973.4 kilo tons by 2020, growing at a CAGR of 3.3% from 2014 to 2020.
- Paints & coatings were the largest application segment for solvents and accounted for over 60% of total market volume in 2013. Along with being the largest application segment, paints & coatings are also expected to be the fastest growing application for solvents, at an estimated CAGR of 3.6% from 2014 to 2020. Growth of global paints and coatings industry is expected to drive the demand for solvents over the next six years.
- Asia Pacific continued its dominance in the global market and accounted for over 40% of total market volume in 2013. In addition of being the largest market, Asia Pacific is also expected to be the fastest growing regional market for solvents at an estimated CAGR of 3.7% from 2014 to 2020.
- The global market for solvents is moderately fragmented with top four companies including Dow Chemicals, Shell Chemicals, ExxonMobil and British Petroleum (BP) accounting for just over 45% of total market in 2013. Some other companies operating in the global market include BASF, Sasol Solvents, Celanese Corporation, Ashland Inc., Eastman Chemical Company and Solvay SA.
Browse All Reports of This Category by Grand View Research @ http://www.grandviewresearch.com/industry/organic-chemicals-and-compounds
For the purpose of this study, Grand View Research has segmented the solvent market on the basis of product, application and region:
- Global Solvent Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012 - 2020)
• Alcohols
• Hydrocarbons
• Ketones
• Esters
• Chlorinated
• Others (including glycols and soy oil)
- Global Solvent Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2012-2020)
• Paints & Coatings
• Printing Inks
• Pharmaceuticals
• Cosmetics & Adhesives
• Other (Deicing, Cleaning Agent)
- Global Solvent Regional Outlook (Volume, Kilo tons; Revenue, USD Million, 2012 - 2020)
• North America
• Europe
• Asia Pacific
• RoW
Browse All Ongoing Reports by Grand View Research @ http://www.grandviewresearch.com/ongoing-reports
About Grand View Research
Grand View Research, Inc. is a market research and consulting company that provides off-the-shelf, customized research reports and consulting services. To help clients make informed business decisions, we offer market intelligence studies ensuring relevant and fact-based research across a range of industries, from technology to chemicals, materials and energy. With a deep-seated understanding of varied business environments, Grand View Research provides strategic objective insights. For more information, visit http://www.grandviewresearch.com/
Contact:
Sherry James
Corporate Sales Specialist, USA
Grand View Research, Inc
Phone: 1-415-349-0058
Toll Free: 1-888-202-9519
Related Reports :
Adhesives and Sealants Market Analysis And Segment Forecasts To 2020 - http://www.grandviewresearch.com/industry-analysis/adhesives-and-sealants-market
The global market for adhesives and sealants is expected to reach USD 43,195.5 million by 2020, according to a new study by Grand View Research, Inc. Growth of construction, automotive and packaging industries, mainly in China, India and Brazil is expected to drive the demand for both adhesives and sealants over the forecast period. However, fluctuation in prices of key feedstocks is expected to remain a primary challenge for industry participants.
Styrene Butadiene Rubber (SBR) Market Analysis And Segment Forecasts To 2020 -
http://www.grandviewresearch.com/industry-analysis/styrene-butaidene-rubber-industry
The global market for SBR is expected to reach USD 23,144.3 billion by 2020, according to a new study by Grand View Research, Inc. Increasing demand for SBR in tire manufacturing is expected to support the growth of this market over forecast period. The automobile industry has witnessed significant growth over the past couple of years, resulting in increased demand for tires which in turn has boosted the demand for synthetic rubbers such as SBR.