The Global Solvent Market 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.
View summary of this report @ http://www.grandviewresearch.com/industry-analysis/solvent-market
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 @ 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
About Grand View
Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco. The
company provides syndicated research reports, customized research reports, and
consulting services. To help clients make informed business decisions, the
company offers market intelligence studies ensuring relevant and fact-based
research across a range of industries including technology, chemicals,
materials, healthcare and energy.
Contact:
Sherry
James
Corporate
Sales Specialist, U.S.A.
Grand
View Research, Inc.
United
States
Phone: 1-415-349-0058
Toll
Free: 1-888-202-9519
Email: sales@grandviewresearch.com
Blog
Site: http://www.divog.org/
No comments:
Post a Comment