Sarasota, FL, Sept. 02, 2016 (GLOBE NEWSWIRE) -- Zion Research has published a new report titled “Industrial Solvents (Hydrocarbons, Acids, Esters, Glycols, Aromatics, Alcohols, Ketones, Ethers and Other Products) Market for Dissolution Agent, Cleaning and Degreasing, Paints and Coatings, Applications in Printing Products and Cleaning, Cosmetics, Printing Ink, Adhesives and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021 ” According to the report, global demand for industrial solvents market was valued at over USD 26.50 billion in 2015, is expected to reach above USD 31.60 billion in 2021 and is anticipated to grow at a CAGR of slightly above 3.0% between 2016 and 2021.
Solvents are mainly used to dissolve any solid, liquid or gas. Industrial solvents are the substance that melts another substance in it. They are mostly used in cleaning, formulating and processing. They are majorly utilized in paint industry, pharmaceutical industry, adhesives, and printing industry.
Browse 32 Market Tables and 26 Figures spread through 110 Pages and an in-depth TOC on “Industrial Solvents Market - Global Size, Shares, Trends, Segment & Forecast to 2021”
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Rapid industrialization in emerging economies has led to noteworthy demand for industrial solvents market. Surging demand of industrial solvents in adhesives, paint industries, and printing drives the industrial solvents market. However, rising concern for environmental issues caused due to solvents may hamper the growth of this market. Nevertheless, escalating infrastructure sector in the developing countries couple with ongoing research for untapped uses is likely to open new opportunities for the industrial solvent market in the coming years.
The industrial solvents market can be segmented on the basis of products into hydrocarbons, acids, esters, glycols, aromatics, alcohols, ketones, ethers and other products. Hydrocarbon solvent is the leading segment owing to high demand from the end users due to its organic properties. Some of the applications of industrial solvents are dissolution agent, cleaning, and degreasing, paints and coatings, printing products and cleaning and others. Among all, dissolution agents dominated the industrial solvents market with around 48% of the share of the overall market. Paints and coatings segment is likely to experience a high growth in the forecast period owing to rising demand from infrastructure and automobile industry.
Browse the full "Industrial Solvents (Hydrocarbons, Acids, Esters, Glycols, Aromatics, Alcohols, Ketones, Ethers and Other Products) Market for Dissolution Agent, Cleaning and Degreasing, Paints and Coatings, Applications in Printing Products and Cleaning, Cosmetics, Printing Ink, Adhesives and Other Applications: Global Industry Perspective, Comprehensive Analysis and Forecast, 2015 – 2021" report at https://www.zionmarketresearch.com/report/industrial-solvents-market
Industrial solvents are the substance used to dissolve particular oils and grease and in formulating the solution and process. Industrial solvents market is matured in North America and Europe and hence expected to experience moderate growth during the forecast period. Strict regulations led by the U.S. and European government for the use of industrial solvents due to adverse impact of on the environment. Therefore use of eco friendly solvents such as green and bio based solvents are gaining demand in North America. Abundance of raw materials and advance technology for the production of environmental friendly solvents are hampering the demand of conventional industrial solvent in North America and Europe.
Asia pacific is expected to show highest growth in industrial solvents market owing to escalating demand from paints and coating industry. Also rising use of solvents in pharmaceutical industry in turn boost the growth of industrial solvents. Rapidly growing infrastructure and use of paints in the construction led the growth of paint and coating industry, which results in the growth of industrial solvents market.
Low regulations and presence of low labor cost are driving the industrial solvents market in Asia pacific. Emerging economies such as India and China are likely to experience strong growth due to plentiful of petroleum feedstock. Availability of workforce is attracting the major manufacturing hub to invest in these regions. Moreover ongoing research and product innovation is estimated to offer impetus to the growth of industrial solvents market in the forecast period.
Latin America has reached to its saturation point for this market and is likely to have sluggish growth in the near coming years owing to strict regulations. . Market for bio based solvents is anticipated to show higher growth compared to the industrial solvent. This demand majorly comes from Brazil and Argentina.
Middle East and Africa are projected to witness decent growth in the coming years owing to developing urbanization and existence of high petroleum feedstock along with presence of huge workforce.
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BASF SE, Daicel Chemical Industries, Exxon Mobil Corporation, Lyondell Basell Industries N.V., Eni S.p.A., Arkema S.A., Nippon Refine Co., Ltd., Royal Dutch Shell PLC, The Dow Chemical Company, SK Innovation Co., Ltd., Petroleo Brasileiro S.A., Sinopec Corp., JX Holdings, Inc. and BP PLC among others are some of the key players in the industrial solvents market.
This report segments the industrial solvents market as follows:
Industrial Solvents Market: Product Segment Analysis
Industrial Solvents Market: Applications Segment Analysis
- Dissolution agent
- Cleaning and degreasing
- Paints and coating
- Printing products and cleaning
Industrial Solvents Market: Regional Segment Analysis
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
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