Global Solvents Market 2017-2021

Overview of the global solvents market

Market research analysts at Technavio predict that the global solvents market will grow steadily at a CAGR of over 5% by 2021. This market research analysis identifies the increase in environmental awareness and the shift towards green and bio-based solvents as the primary growth factors for this market. The unpredictability of petroleum-based raw materials and the growing demand for sustainable products have compelled several chemical producers to shift from conventional solvents to bio-based solvents since they offer benefits various including reduced environmental pollution, conservation of resources, and less energy consumption. Additionally, high volumes of biofuels have generated huge opportunities for bio-based solvents such as bio-ethanol and its derivatives or vegetable oil products such as glycerol and biodiesel.

One of the latest trends that will gain traction in the solvents market in the coming years is the growing demand from the emerging economies. The growing metal industry and the abundance of natural resources in emerging economies will contribute to the growth of many industries such as construction and automotive, thereby driving the overall solvent-based coatings market and is fostering the growth of the solvents market. Furthermore, the rising investments in both the infrastructure and non-residential sectors and the improvements in the existing road, railway, and airport systems will also contribute to the growth of this market.

Competitive landscape and key vendors

The solvents market appears to be highly fragmented due to the presence of many established vendors. Vendors in this market compete based on factors such as innovation, price, operational cost, and product quality. The competitive environment in the market is expected to intensify during the forecast period with the increase in product extensions in terms of innovation in technology. Players with greater financial, technological, and other resources can withstand the changes in market conditions.

The leading vendors in the market are -

• Ashland
• The Dow Chemical Company
• BASF
• ExxonMobil
• Huntsman

The other prominent vendors in the market include Archer Daniel Midlands, Arkema, BioAmber, BP, Cargill, Celanese, Chevron Phillips Chemical, Eastma Chemical, Flotek Industries, Honeywell International, INEOS, Invista, LyondellBasell, Monument Chemical, Olin, Shell Global, Solvay, and Top Solvent.

Segmentation by application and analysis of the solvents market

• Paints and coatings
• Pharmaceuticals
• Printing inks
• Adhesives
• Cleaning products

During 2016, the paints and coatings segment accounted for the major shares of this market. Solvents help in dissolving and dispersing certain components in the formulation of paints such as pigments and resins which helps in maintaining the consistency of paints for applications. The ability of solvents to make paints more durable, decorative, and glossy in both indoor and outdoor applications will contribute to the growth of this market segment in the coming years.

Geographical segmentation and analysis of the solvents market

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, APAC will be the major revenue contributor to the market by 2021. The increasing growth of the population in this region, growth in the automobile, construction industries, and cosmetic products will fuel the growth of the solvents market. Furthermore, the increasing income of the middle-class individuals accompanied by significant investments in the chemical industry will also contribute to the market’s growth in this region.

Key questions answered in the report include

• What will the market size and the growth rate be in 2021?
• What are the key factors driving the global solvents market?
• What are the key market trends impacting the growth of the global solvents market?
• What are the challenges to market growth?
• Who are the key vendors in the global solvents market?
• What are the market opportunities and threats faced by the vendors in the global solvents market?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global solvents market?

Technavio also offers customization on reports based on specific client requirement.

To help businesses gain an in-depth knowledge of the chemicals and materials industry, Technavio provides a wide array of industry research report on related industries as metals and minerals, additives, adhesives, and sealants, and bio-chemicals and bio-materials markets. The upcoming report on the global solvents market provides the client with a complete overview of the market regarding market size, growth potential, and demand across key geographies.

Research analysts at Technavio follow extensive primary and secondary research methodologies in order to gather data from customers, manufacturers, consumers, and other key stakeholders. The upcoming report on the global solvents market also considers the growth of global bio-based platform chemicals market and global bromine market, which are expected to grow at a CAGR of 11% and 6%, respectively, for the forecast period of 2017 to 2021. Even though these solvents are banned for use in individual terms, they are permitted to be used as mixes in coatings.

The upcoming report on the global exempt solvent market also considers key market drivers, emerging trends, technological advancements, and opportunities and challenges faced by the industry. The report also considers the growth of glass and ceramics, agrochemicals and fertilizers, olefins, and chemical engineering equipment.