HOME Top Market Reports Solvents Market by Type (Alcohols, Ketones, Esters, Glycol Ethers, Aromatic, Aliphatic), Application (Paints & Coatings, Polymer Manufacturing, Printing Inks), Source (Petrochemical-based, Bio & Green), and Region - Global Forecast to 2023

Solvents Market by Type (Alcohols, Ketones, Esters, Glycol Ethers, Aromatic, Aliphatic), Application (Paints & Coatings, Polymer Manufacturing, Printing Inks), Source (Petrochemical-based, Bio & Green), and Region - Global Forecast to 2023

By: marketsandmarkets.com
Publishing Date: September 2018
Report Code: CH 2218

 

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The solvents market was valued at USD 38.33 billion in 2017 and is projected to reach 57.34 billion by 2023, at a CAGR of 3.9% during the forecast period. The base year considered for the study is 2017 while the forecast period is from 2018 to 2023.

Objectives of the report are as follows:

  • To define, describe, and forecast the market size of solvents, in terms of value and volume
  • To provide detailed information regarding the major factors (drivers, opportunities, restraints, and challenges) influencing the growth of the market
  • To estimate and forecast the market size by product type, source, application, and region
  • To forecast the size of the market with respect to 5 main regions (along with the key countries in each region), namely, North America, Europe, Asia Pacific (APAC), South America, and the Middle East & Africa
  • To analyze opportunities in the market for stakeholders and provide a competitive landscape of the market leaders
  • To track and analyze recent developments, such as expansions and acquisitions in the market
  • To strategically profile the key market players and comprehensively analyze their core competencies

Both, top-down and bottom-up approaches have been implemented to estimate and project the size of the solvents market during the forecast period. The size of the solvents market has been calculated, and weightages have been assigned to various market segments. This has been performed based on extensive primary interviews and secondary research of the information available on websites of various associations, such as the European Environmental Protection Agency (EPA), European Solvents Industry Group (ESIG), European Chlorinated Solvents Association (ECSA), European Solvents Volatile Organic Compounds Coordination Group (ESVOC CG), European Renewable Ethanol (ePure), Registration, Evaluation, Authorization and Restriction of Chemicals (REACH), Turkish Chemical Manufacturers Association (TKSD), Gulf Petrochemicals & Chemicals Association (GPCA), American Institute of Chemical Engineers (AIChE), The European Chemical Industry Council (CEFIC), and International Organization of Motor Vehicle Manufacturers (OICA). Primary research includes extensive interviews with key personnel, such as chief executive officers, vice presidents, directors, and executives of the leading players in the solvents markets. After arriving at the overall market size, the total market has been split into several segments and subsegments. Data triangulation and market breakdown procedures have been employed to complete the overall market engineering process and arrive at the exact statistics for all segments and subsegments. The breakdown of profiles of primary respondents has been depicted in the figure below.

Solvent Market

To know about the assumptions considered for the study, download the pdf brochure

The ecosystem of the solvents market comprises end users, producers & suppliers, and manufacturers of solvents, such as Royal Dutch Shell Plc (Netherlands), Eastman Chemical Company (US), LyondellBasell Industries Holdings B.V. (Netherlands), Ashland Global Holdings Inc. (US), BASF SE (Germany), Huntsman Corporation (US), ExxonMobil Corporation (US), Celanese Corporation (US), Honeywell International Inc. (US), and INEOS Group AG (UK).

Target Audience:

  • Industrial Solvent Manufacturers, Dealers, and Suppliers
  • Government Bodies
  • End Users
  • Feedstock Suppliers
  • Large Infrastructure Companies
  • Investment Banks
  • Consulting Companies/Consultants in Chemical and Material Sectors
  • Industry Associations
  • Research and Consulting Firms

 “The study answers several questions for stakeholders, primarily, which market segments they need to focus upon during the next 2 to 5 years to prioritize their efforts and investments.”

Scope of the Report

The research report categorizes the solvents market into the following segments:

Solvents Market, by Source

  • Petrochemical-based Solvents
  • Bio & Green Solvents

Petrochemical-based Solvents Market, by Product Type

Oxygenated Solvents

  • Alcohols
    • Methanol
    • Ethanol
    • Propanol
    • Butanol
  • Glycols 
    • Ethylene Glycols 
    • Propylene Glycols 
  • Glycol Ethers
    • E-series Glycol Ethers
    • P-series Glycol Ethers
    • Butyl Glycol Ethers
  • Ketones 
    • Acetone
    • MEK
    • MIBK
  • Esters
    • Ethyl Acetate
    • Butyl Acetate  

Hydrocarbon Solvents

  • Aliphatic Solvents
  • Aromatic Solvents
    • Toluene
    • Xylene
    • Ethyl Benzene

Halogenated Solvents

  • Methylene Chloride 
  • Trichloroethylene
  • Perchloroethylene

Acetic Acid

Petrochemical-based Solvents Market, by Application

  • Paints & Coatings
  • Pharmaceuticals
  • Adhesives
  • Printing Inks
  • Metal Cleaning
  • Personal Care
  • Polymer Manufacturing
  • Agricultural Chemicals
  • Others

Bio & Green Solvents Market, by Product Type:

  • Bio-alcohols & Bio-diols
  • Lactate Esters
  • D-Limonene
  • Methyl Soyate  

Bio & Green Solvents Market, by Application 

  • Industrial & Domestic Cleaners 
  • Paints & Coatings
  • Printing Inks
  • Others   

Solvents Market, by Region:

  • North America
  • Europe
  • Asia Pacific
  • South America
  • Middle East & Africa

Available Customizations

With the given market data, MarketsandMarkets offers customizations according to client-specific needs.

  • Further breakdown of the Rest of Asia Pacific, Rest of Europe, Rest of South America, and Rest of the Middle East & Africa solvents market
  • Detailed analysis and profiles of additional market players (up to 5)

Table of Contents

1 Introduction (Page No. - 23)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Years Considered for the Study
           1.3.2 Currency
           1.3.3 Unit Considered
           1.3.4 Limitations
    1.4 Stakeholders

2 Research Methodology (Page No. - 27)
    2.1 Research Data
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Sources
           2.1.2 Primary Data
                    2.1.2.1 Key Data From Primary Sources
                    2.1.2.2 Breakdown of Primary Interviews
    2.2 Market Size Estimation
           2.2.1 Bottom-Up Approach
           2.2.2 Top-Down Approach
    2.3 Data Triangulation
    2.4 Assumptions

3 Executive Summary (Page No. - 35)

4 Premium Insights (Page No. - 40)
    4.1 Attractive Opportunities in the Solvents Market
    4.2 Solvents Market, By Region, 2018–2023
    4.3 Petrochemical-Based Solvents Market in APAC, By Application and Country
    4.4 Solvents Market, By Region
    4.5 Petrochemical-Based Solvents Market, By Application

5 Market Overview (Page No. - 44)
    5.1 Introduction
    5.2 History of Solvents
    5.1 Market Dynamics of Petrochemical-Based Solvents
           5.1.1 Drivers
                    5.1.1.1 High Demand From the Construction and Automotive Industries
           5.1.2 Restraints
                    5.1.2.1 Industries Shifting Focus to Green Solvents
           5.1.3 Opportunities
                    5.1.3.1 Growing Opportunities From Emerging Economies
           5.1.4 Challenges
                    5.1.4.1 Harmful Effects of Petrochemical-Based Solvents
    5.2 Market Dynamics of Bio & Green Solvents
           5.2.1 Drivers
                    5.2.1.1 Growing Market Penetration
                    5.2.1.2 Environmental Regulations to Reduce Voc Emissions
           5.2.2 Restraints
                    5.2.2.1 High Production Cost and Performance Issue
           5.2.3 Opportunities
                    5.2.3.1 Focus of Federal Government on Bio-Based Products
                    5.2.3.2 Regions With Strict Regulations Offering High Growth Potential
                    5.2.3.3 Extensive R&D on Bio & Green Solvents
    5.3 Porter’s Five Forces Analysis: Petrochemical-Based Solvents Market
           5.3.1 Threat 0f New Entrants
           5.3.2 Threat of Substitutes
           5.3.3 Bargaining Power of Buyers
           5.3.4 Bargaining Power of Suppliers
           5.3.5 Intensity of Competitive Rivalry
    5.4 Porter’s Five Forces Analysis: Bio & Green Solvents Market
           5.4.1 Threat 0f New Entrants
           5.4.2 Threat of Substitutes
           5.4.3 Bargaining Power of Buyers
           5.4.4 Bargaining Power of Suppliers
           5.4.5 Intensity of Competitive Rivalry
    5.5 Macroeconomic Indicators
           5.5.1 GDP of Major Economies in Terms of Ppp
           5.5.2 Trends and Forecast of Automotive Industry and Its Impact on Solvents Market

6 Solvents Market, By Source (Page No. - 66)
    6.1 Introduction
           6.1.1 Petrochemical-Based Solvents
           6.1.2 Bio & Green Solvents

7 Bio & Green Solvents Market (Page No. - 72)
    7.1 Introduction
           7.1.1 Types of Bio & Green Solvents
                               7.1.1.1.1 Bio-Alcohols & Bio-Diols
                               7.1.1.1.2 Lactate Esters
                               7.1.1.1.3 D-Limonene
                               7.1.1.1.4 Methyl Soyate
           7.1.2 Applications of Bio & Green Solvents
                               7.1.2.1.1 Industry & Domestic Cleaners
                               7.1.2.1.2 Paints & Coatings
                               7.1.2.1.3 Printing Inks
                               7.1.2.1.4 Others

8 Petrochemical-Based Solvents  Market, By Type (Page No. - 79)
    8.1 Introduction
           8.1.1 Oxygenated Solvents
                    8.1.1.1 Alcohols
                               8.1.1.1.1 Methanol
                               8.1.1.1.2 Propanol
                                             8.1.1.1.2.1 Isopropanol
                                             8.1.1.1.2.2 N-Propanol
                               8.1.1.1.3 Ethanol
                               8.1.1.1.4 Butanol
                                             8.1.1.1.4.1 Isobutanol
                                             8.1.1.1.4.2 N-Butanol
                    8.1.1.2 Esters
                               8.1.1.2.1 Ethyl Acetate
                               8.1.1.2.2 Butyl Acetate
                    8.1.1.3 Ketones
                               8.1.1.3.1 Acetone
                               8.1.1.3.2 Mek
                               8.1.1.3.3 Mibk
                    8.1.1.4 Glycol Ethers
                               8.1.1.4.1 E-Series Glycol Ethers
                               8.1.1.4.2 P-Series Glycol Ethers
                               8.1.1.4.3 Butyl Glycol Ethers
                    8.1.1.5 Glycol
                               8.1.1.5.1 Propylene Glycol
                               8.1.1.5.2 Ethylene Glycol
                                             8.1.1.5.2.1 Meg
                                             8.1.1.5.2.2 Deg
                                             8.1.1.5.2.3 Teg
           8.1.2 Hydrocarbon Solvents
                    8.1.2.1 Aliphatic Solvents
                    8.1.2.2 Aromatic Solvents
                               8.1.2.2.1 Toluene
                               8.1.2.2.2 Xylene
                                             8.1.2.2.2.1 Para-Xylene
                                             8.1.2.2.2.2 Mixed-Xylene
                               8.1.2.2.3 Ethylbenzene
           8.1.3 Halogenated Solvents
                               8.1.3.1.1 Methylene Chloride
                               8.1.3.1.2 Trichloroethylene
                               8.1.3.1.3 Perchloroethylene
           8.1.4 Acetic Acid

9 Petrochemical-Based Solvents Market, By Application (Page No. - 129)
    9.1 Introduction
    9.2 Paints & Coatings
    9.3 Pharmaceuticals
    9.4 Polymer Manufacturing
    9.5 Adhesives
    9.6 Printing Inks
    9.7 Metal Cleaning
    9.8 Personal Care
    9.9 Agricultural Chemicals
    9.1 Other Applications

10 Petrochemical-Based Solvents Market, By Region (Page No. - 146)
     10.1 Introduction
     10.2 APAC
             10.2.1 China
             10.2.2 Japan
             10.2.3 India
             10.2.4 South Korea
             10.2.5 Indonesia
             10.2.6 Rest of APAC
     10.3 Europe
             10.3.1 Germany
             10.3.2 France
             10.3.3 Italy
             10.3.4 Russia
             10.3.5 Belgium
             10.3.6 UK
             10.3.7 Spain
             10.3.8 Rest of Europe
     10.4 North America
             10.4.1 US
             10.4.2 Mexico
             10.4.3 Canada
     10.5 Middle East & Africa
             10.5.1 Turkey
             10.5.2 Iran
             10.5.3 Saudi Arabia
             10.5.4 South Africa
             10.5.5 Qatar
             10.5.6 Rest of Middle East & Africa
     10.6 South America
             10.6.1 Brazil
             10.6.2 Argentina
             10.6.3 Rest of South America

11 . Competitive Landscape (Page No. - 179)
     11.1 Overview
     11.2 Market Ranking
             11.2.1 Royal Dutch Shell Plc.
             11.2.2 Eastman Chemical Company
             11.2.3 BASF SE
     11.3 Competitive Situations & Trends
             11.3.1 Expansions
             11.3.2 New Product Launches
             11.3.3 Acquisitions
             11.3.4 Agreements
             11.3.5 Joint Ventures

12 Company Profiles (Page No. - 191)
     12.1 Royal Dutch Shell PLC
             12.1.1 Business Overview
             12.1.2 Products Offered
             12.1.3 Recent Developments
             12.1.4 SWOT Analysis
             12.1.5 MnM View
     12.2 Eastman Chemical Company
             12.2.1 Business Overview
             12.2.2 Products Offered
             12.2.3 Recent Developments
             12.2.4 SWOT Analysis
             12.2.5 MnM View
     12.3 BASF SE
             12.3.1 Business Overview
             12.3.2 Products Offered
             12.3.3 Recent Developments
             12.3.4 SWOT Analysis
             12.3.5 MnM View
     12.4 Exxonmobil Corporation
             12.4.1 Business Overview
             12.4.2 Products Offered
             12.4.3 Recent Developments
             12.4.4 SWOT Analysis
             12.4.5 MnM View
     12.5 Lyondellbasell Industries Holdings B.V.
             12.5.1 Business Overview
             12.5.2 Products Offered
             12.5.3 Recent Developments
             12.5.4 SWOT Analysis
             12.5.5 MnM View
     12.6 Ashland Global Holdings Inc.
             12.6.1 Business Overview
             12.6.2 Products Offered
             12.6.3 Recent Developments
             12.6.4 SWOT Analysis
             12.6.5 MnM View
     12.7 Celanese Corporation
             12.7.1 Business Overview
             12.7.2 Products Offered
             12.7.3 Recent Developments
     12.8 Huntsman Corporation
             12.8.1 Business Overview
             12.8.2 Products Offered
             12.8.3 Recent Developments
     12.9 Solvay SA
             12.9.1 Business Overview
             12.9.2 Products Offered
             12.9.3 Recent Developments
     12.10 Honeywell International Inc.
             12.10.1 Business Overview
             12.10.2 Products Offered
             12.10.3 Recent Developments
     12.11 INEOS AG
             12.11.1 Business Overview
             12.11.2 Products Offered
             12.11.3 Recent Developments
     12.12 Other Market Players
             12.12.1 Arkema SA
             12.12.2 Bharat Petroleum Corporation Limited
             12.12.3 BP PLC
             12.12.4 Cargill Incorporated
             12.12.5 Chevron Phillips Chemical Co.
             12.12.6 Dowdupont Inc.
             12.12.7 Flotek Industries Inc.
             12.12.8 Invista Sarl
             12.12.9 Monument Chemical Inc.
             12.12.10 Olin Corporation
             12.12.11 Reliance Industries Ltd. (RIL)
             12.12.12 Top Solvent Co., Ltd.

13 Appendix (Page No. - 234)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
     13.5 Available Customizations
     13.6 Related Reports


List of Tables (199 Tables)

Table 1 Top 10 Economies By GDP in Ppp Terms, 2017
Table 2 GDP of Major Economies in Terms of Ppp, 2014-2023 (USD Billion)
Table 3 Solvents Market Size, By Source, 2014-2023 (Kiloton)
Table 4 Solvents Market Size, By Source, 2014–2023 (USD Million)
Table 5 Solvents Market Size, By Region, 2014-2023 (Kiloton)
Table 6 Solvents Market Size, By Region, 2014-2023 (USD Million)
Table 7 Bio & Green Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 8 Bio & Green Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 9 Bio & Green Solvents Market Size, By Type, 2014–2023 (Kiloton)
Table 10 Bio & Green Solvents Market Size, By Type, 2014–2023 (USD Million)
Table 11 Bio & Green Solvents Market Size, By Application, 2014–2023 (Kiloton)
Table 12 Bio & Green Solvents Market Size, By Application, 2014–2023 (USD Million)
Table 13 Some Polar and Non-Polar Solvents
Table 14 Petrochemical-Based Solvents Market Size, By Type, 2014–2023 (Kiloton)
Table 15 Petrochemical-Based Solvents Market Size, By Type, 2014–2023 (USD Million)
Table 16 Oxygenated Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 17 Oxygenated Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 18 Oxygenated Solvents Market Size, By Type, 2014–2023 (Kiloton)
Table 19 Oxygenated Solvents Market Size, By Type, 2014–2023 (USD Million)
Table 20 Alcohol Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 21 Alcohol Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 22 Alcohol Solvents Market Size, By Type, 2014–2023 (Kiloton)
Table 23 Alcohol Solvents Market Size, By Type, 2014–2023 (USD Million)
Table 24 Methanol: General Properties
Table 25 Methanol Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 26 Methanol Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 27 Propanol Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 28 Propanol Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 29 IPA: General Properties
Table 30 N-Propanol: General Properties
Table 31 Ethanol: General Properties
Table 32 Ethanol Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 33 Ethanol Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 34 Butanol Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 35 Butanol Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 36 Iso-Butanol: General Properties
Table 37 N-Butanol: General Properties
Table 38 Ester Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 39 Ester Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 40 Ester Solvents Market Size, By Type, 2014–2023 (Kiloton)
Table 41 Esters Solvents Market Size, By Type, 2014–2023 (USD Million)
Table 42 Ethyl Acetate: General Properties
Table 43 Ethyl Acetate Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 44 Ethyl Acetate Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 45 Butyl Acetate: General Properties
Table 46 Butyl Acetate Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 47 Butyl Acetate Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 48 Ketone Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 49 Ketone Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 50 Ketone Solvents Market Size, By Type, 2014–2023 (Kiloton)
Table 51 Ketone Solvents Market Size, By Type, 2014–2023 (USD Million)
Table 52 Acetone: General Properties
Table 53 Acetone Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 54 Acetone Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 55 Mek: General Properties
Table 56 Mek Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 57 Mek Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 58 Mibk: General Properties
Table 59 Mibk Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 60 Mibk Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 61 Glycol Ether Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 62 Glycol Ether Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 63 Glycol Ether Solvents Market Size, By Type, 2014–2023 (Kiloton)
Table 64 Glycol Ether Solvents Market Size, By Type, 2014–2023 (USD Million)
Table 65 E-Series Glycol Ether Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 66 E-Series Glycol Ether Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 67 P-Series Glycol Ether Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 68 P-Series Glycol Ether Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 69 Butyl Glycol Ether Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 70 Butyl Glycol Ether Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 71 Glycol Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 72 Glycol Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 73 Glycol Solvents Market Size, By Type, 2014–2023 (Kiloton)
Table 74 Glycol Solvents Market Size, By Type, 2014–2023 (USD Million)
Table 75 Propylene Glycol: General Properties
Table 76 Propylene Glycol Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 77 Propylene Glycol Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 78 Ethylene Glycol Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 79 Ethylene Glycol Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 80 Monoethylene Glycol: General Properties
Table 81 Diethylene Glycol: General Properties
Table 82 Triethylene Glycol: General Properties
Table 83 Hydrocarbon Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 84 Hydrocarbon Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 85 Hydrocarbon Solvents Market Size, By Type, 2014–2023 (Kiloton)
Table 86 Hydrocarbon Solvents Market Size, By Type, 2014–2023 (USD Million)
Table 87 Aliphatic Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 88 Aliphatic Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 89 Aromatic Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 90 Aromatic Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 91 Aromatic Solvents Market Size, By Type, 2014–2023 (Kiloton)
Table 92 Aromatic Solvents Market Size, By Type, 2014–2023 (USD Million)
Table 93 Toluene: General Properties
Table 94 Toluene Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 95 Toluene Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 96 Xylene Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 97 Xylene Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 98 Para-Xylene: General Properties
Table 99 Mixed-Xylene: General Properties
Table 100 Ethylbenzene: General Properties
Table 101 Ethylbenzene Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 102 Ethylbenzene Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 103 Halogenated Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 104 Halogenated Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 105 Halogenated Solvents Market Size, By Type, 2014–2023 (Kiloton)
Table 106 Halogenated Solvents Market Size, By Type, 2014–2023 (USD Million)
Table 107 Methylene Chloride: General Properties
Table 108 Methylene Chloride Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 109 Methylene Chloride Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 110 Trichloroethylene: General Properties
Table 111 Trichloroethylene Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 112 Trichloroethylene Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 113 Perchloroethylene: General Properties
Table 114 Perchloroethylene Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 115 Perchloroethylene Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 116 Perchloroethylene: General Properties
Table 117 Acetic Acid Solvents Market Size, By Region, 2014–2023 (Kiloton)
Table 118 Acetic Acid Solvents Market Size, By Region, 2014–2023 (USD Million)
Table 119 Petrochemical-Based Solvents By Market Size, By Application, 2014-2023 (Kiloton)
Table 120 Petrochemical-Based Solvents By Market Size, By Application, 2014-2023 (USD Million)
Table 121 Petrochemical-Based Solvents By Market Size in Paints & Coatings Application, By Region, 2014–2023 (Kiloton)
Table 122 Petrochemical-Based Solvents By Market Size in Paints & Coatings Application, By Region, 2014-2023 (USD Million)
Table 123 Petrochemical-Based Solvents By Market in Pharmaceuticals Application, By Region, 2014–2023 (Kiloton)
Table 124 Petrochemical-Based Solvents By Market Size in Pharmaceuticals Application, By Region, 2014–2023 (USD Million)
Table 125 Petrochemical-Based Solvents By Market Size in Polymer Manufacturing Application, By Region, 2014–2023 (Kiloton)
Table 126 Petrochemical-Based Solvents By Market Size in Polymer Manufacturing Application, By Region, 2014–2023 (USD Million)
Table 127 Petrochemical-Based Solvents By Market Size in Adhesives Application, By Region, 2014–2023 (Kiloton)
Table 128 Petrochemical-Based Solvents By Market Size in Adhesives Application, By Region, 2014–2023 (USD Million)
Table 129 Petrochemical-Based Solvents By Market Size in Printing Inks Application, By Region, 2014–2023 (Kiloton)
Table 130 Petrochemical-Based Solvents By Market Size in Printing Inks Application, By Region, 2014–2023 (USD Million)
Table 131 Petrochemical-Based Solvents By Market Size in Metal Cleaning Application, By Region, 2014–2023 (Kiloton)
Table 132 Petrochemical-Based Solvents By Market Size in Metal Cleaning Application, By Region, 2014–2023 (USD Million)
Table 133 Petrochemical-Based Solvents By Market Size in Personal Care Application, By Region, 2014–2023 (Kiloton)
Table 134 Petrochemical-Based Solvents By Market Size in Personal Care Application, By Region, 2014–2023 (USD Million)
Table 135 Petrochemical-Based Solvents By Market Size in Agricultural Chemicals Application, By Region, 2014–2023 (Kiloton)
Table 136 Petrochemical-Based Solvents By Market Size in Agricultural Chemicals Application, By Region, 2014–2023 (USD Million)
Table 137 Petrochemical-Based Solvents By Market Size in Other Applications, By Region, 2014–2023 (Kiloton)
Table 138 Petrochemical-Based Solvents By Market Size in Other Applications, By Region, 2014–2023 (USD Million)
Table 139 Petrochemical-Based Solvents By Market Size, By Region, 2014–2023 (Kiloton)
Table 140 Petrochemical-Based Solvents By Market Size, By Region, 2014–2023 (USD Million)
Table 141 APAC: Petrochemical-Based Solvents By Market Size, By Country, 2014–2023 (Kiloton)
Table 142 APAC: Petrochemical-Based Solvents By Market Size, By Country, 2014–2023 (USD Million)
Table 143 APAC: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (Kiloton)
Table 144 APAC: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (USD Million)
Table 145 China: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (Kiloton)
Table 146 China: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (USD Million)
Table 147 Japan: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (Kiloton)
Table 148 Japan: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (USD Million)
Table 149 India: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 150 South Korea: Petrochemical-Based Solvents Market Size, 2014-2023
Table 151 Indonesia: Petrochemical-Based Solvents Market Size, 2014-2023
Table 152 Rest of APAC: Petrochemical-Based Solvents Market Size, 2014-2023
Table 153 Europe: Petrochemical-Based Solvents By Market Size, By Country, 2014–2023 (Kiloton)
Table 154 Europe: Petrochemical-Based Solvents By Market Size, By Country, 2014–2023 (USD Million)
Table 155 Europe: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (Kiloton)
Table 156 Europe: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (USD Million)
Table 157 Germany: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (Kiloton)
Table 158 Germany: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (USD Million)
Table 159 France: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (Kiloton)
Table 160 France: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (USD Million)
Table 161 Italy: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 162 Russia: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 163 Belgium: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 164 UK: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 165 Spain: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 166 Rest of Europe: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 167 North America: Petrochemical-Based Solvents By Market Size, By Country, 2014–2023 (Kiloton)
Table 168 North America: Petrochemical-Based Solvents By Market Size, By Country, 2014–2023 (USD Million)
Table 169 North America: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (Kiloton)
Table 170 North America: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (USD Million)
Table 171 US: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (Kiloton)
Table 172 US: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (USD Million)
Table 173 Mexico: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 174 Canada: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 175 Middle East & Africa: Petrochemical-Based Solvents By Market Size, By Country, 2014–2023 (Kiloton)
Table 176 Middle East & Africa: Petrochemical-Based Solvents By Market Size, By Country, 2014–2023 (USD Million)
Table 177 Middle East & Africa: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (Kiloton)
Table 178 Middle East & Africa: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (USD Million)
Table 179 Turkey: Petrochemical-Based Solvents By Market Size, By Country, 2014–2023 (Kiloton)
Table 180 Turkey: Petrochemical-Based Solvents By Market Size, By Country, 2014–2023 (USD Million)
Table 181 Iran: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 182 Saudi Arabia: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 183 South Africa: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 184 Qatar: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 185 Rest of Middle East & Africa: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 186 South America: Petrochemical-Based Solvents By Market Size, By Country, 2014–2023 (Kiloton)
Table 187 South America: Petrochemical-Based Solvents By Market Size, By Country, 2014–2023 (USD Million)
Table 188 South America: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (Kiloton)
Table 189 South America: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (USD Million)
Table 190 Brazil: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (Kiloton)
Table 191 Brazil: Petrochemical-Based Solvents By Market Size, By Application, 2014–2023 (USD Million)
Table 192 Argentina: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 193 Rest of South America: Petrochemical-Based Solvents By Market Size, 2014-2023
Table 194 Market Ranking of Solvents Manufacturers, 2017
Table 195 Expansions, 2012–2018
Table 196 New Product Launches, 2012–2018
Table 197 Acquisitions, 2012–2018
Table 198 Agreements, 2012–2018
Table 199 Joint Ventures, 2012–2018


List of Figures (53 Figures)

Figure 1 Solvents Market Segmentation
Figure 2 Solvents Market: Research Design
Figure 3 Solvents Market: Data Triangulation
Figure 4 Solvents Market to Be Driven By Increasing Penetration of Bio & Green Solvents
Figure 5 Petrochemical-Based Solvents Market to Be Driven By the Rising Demand for Oxygenated Solvents
Figure 6 Printing Inks Application to Register the Highest Cagr in the Petrochemical-Based Solvents Market
Figure 7 APAC Was the Largest Solvents Market in 2017
Figure 8 Growing Demand for Automobiles to Drive the Solvents Market Between 2018 and 2023
Figure 9 APAC to Be the Largest Market for Solvents
Figure 10 China Was the Largest Petrochemical-Based Solvents Market in APAC
Figure 11 Middle East & Africa to Be the Fastest-Growing Solvents Market
Figure 12 Paints & Coatings Was the Largest Application of Petrochemical-Based Solvents
Figure 13 Evolution of Solvents
Figure 14 Overview of Factors Governing the Petrochemical-Based Solvents Market
Figure 15 Overview of Factors Governing the Bio & Green Solvents Market
Figure 16 Porter’s Five Forces Analysis: Petrochemical-Based Solvents Market
Figure 17 Porter’s Five Forces Analysis: Bio & Green Solvents Market
Figure 18 World Motor Vehicle Production in 2017
Figure 19 Penetration of Bio & Green Solvents Market to Increase During the Forecast Period
Figure 20 APAC to Be the Largest Petrochemical-Based Solvents Market
Figure 21 North America to Be the Largest Market for Bio & Green Solvents
Figure 22 Bio-Alcohol & Bio-Diol Solvents to Dominate the Bio & Green Solvents Market
Figure 23 Oxygenated Solvents to Dominate the Petrochemical-Based Solvents Market
Figure 24 APAC to Be the Largest Market for Oxygenated Solvents
Figure 25 APAC to Be the Largest Market for Hydrocarbon Solvents
Figure 26 APAC to Be the Largest Market for Halogenated Solvents
Figure 27 APAC to Be the Largest Market for Acetic Acid Solvents
Figure 28 Paints & Coatings to Be the Largest Application of Petrochemical-Based Solvents
Figure 29 APAC to Be the Largest Petrochemical-Based Solvents Market in Paints & Coatings Application
Figure 30 North America to Be the Largest Petrochemical-Based Solvents Market in Pharmaceuticals Application
Figure 31 APAC to Be the Largest Petrochemical-Based Solvents Market in Polymer Manufacturing Application
Figure 32 APAC to Be the Largest Petrochemical-Based Solvents Market in Adhesives Application
Figure 33 APAC to Be the Largest Petrochemical-Based Solvents Market in Printing Inks Application
Figure 34 APAC to Be the Largest Petrochemical-Based Solvents Market in Metal Cleaning Application
Figure 35 APAC to Be the Largest Petrochemical-Based Solvents Market in Personal Care Application
Figure 36 APAC to Be the Largest Petrochemical-Based Solvents Market in Agricultural Chemicals Application
Figure 37 APAC to Be the Largest Petrochemical-Based Solvents Market in Other Applications
Figure 38 Regional Snapshot of Petrochemical-Based Solvents Market
Figure 39 APAC Petrochemical-Based Solvents Market Snapshot
Figure 40 European Petrochemical-Based Solvents Market Snapshot
Figure 41 North American Petrochemical-Based Solvents Market Snapshot
Figure 42 Expansions Was the Key Growth Strategy Adopted By the Market Players Between 2012 and 2018
Figure 43 Royal Dutch Shell Plc: Company Snapshot
Figure 44 Eastman Chemical Company: Company Snapshot
Figure 45 BASF SE: Company Snapshot
Figure 46 Exxonmobil Corporation: Company Snapshot
Figure 47 Lyondellbasell Industries Holdings B.V.: Company Snapshot
Figure 48 Ashland Global Holdings Inc: Company Snapshot
Figure 49 Celanese Corporation: Company Snapshot
Figure 50 Huntsman Corporation: Company Snapshot
Figure 51 Solvay SA: Company Snapshot
Figure 52 Honeywell International Inc.: Company Snapshot
Figure 53 INEOS AG: Company Snapshot

The solvents market is projected to grow from USD 47.37 billion in 2018 to USD 57.34 billion by 2023, at a CAGR of 3.9% during the forecast period. A solvent is any chemical product that can be used to dissolve a substance (solute) in it, thereby forming a solution. Apart from this, solvents are also used widely to suspend or carry a particular material or extract other substances without changing their physical properties.

The solvents market has been segmented on the basis of source, product type, application, and region. Based on source, the petrochemical-based solvents market segment is expected to lead the market during the forecast period, in terms of value. Better solvent properties of petrochemical-based solvents when compared to bio & green solvents, is expected to drive demand. Additionally, low cost of petrochemical-based solvents when compared to bio & green solvents is expected to fuel the growth of petrochemical-based solvents segment.

Based on type, petrochemical-based solvents market has been segmented into oxygenated solvents, hydrocarbon solvents, and halogenated solvents. The oxygenated solvents market accounted for the largest market share, in terms of value, followed by the hydrocarbon solvents market, in 2017. The high solvency power and low-toxicity of oxygenated solvents are expected to lead to their usage in various applications, such as paints & coatings, personal care, pharmaceuticals, printing inks, and others.

Based on type, the bio & green solvents market has been segmented into bio-alcohols & bio-diols, lactate esters, d-limonene, and methyl soyate. The bio-alcohols & bio-diols segment accounted for the largest market share followed by lactate esters, in 2017, in terms of value. The demand for bio-alcohols & bio-diols is gaining momentum in the bio & green solvents segment because of the growing concerns over greenhouse gas emissions from fossil fuels.

Based on application, the petrochemical-based solvents market has been segmented into paints & coatings, polymer manufacturing, pharmaceuticals, adhesives, printing inks, personal care, metal cleaning, agricultural chemicals, and others. The paints & coatings segment accounted for the largest market share, in terms of value, followed by the pharmaceuticals segment, in 2017. Growth of the automotive OEM, machinery, and appliances markets, globally accompanied by rise in building & construction activities are expected to drive the demand for this application segment during the forecast period.

Based on application, the bio & green solvents market has been segmented into industrial & domestic cleaners, paints & coatings, printing inks, and others. The industrial & domestic cleaner application segment accounted for largest market share, in terms of value, followed by lactate esters, in 2017. The growing consumer demand for sustainable cleaning products, especially in Europe and North America is expected to drive demand.

Asia Pacific is estimated to be the largest market for solvents in 2018, and the region is also expected to continue to lead the market till 2023 owing to growing industries in the region’s emerging economies, such China and India. Rising per capita disposable incomes, rapid urbanization, and growing demand for automobiles are projected to fuel the growth of the solvents market. Additionally, high growth in the pharmaceuticals, paints & coatings, and cosmetics, among several other applications are expected to drive the demand for solvents in the region.

Solvent Market

Significant investments in R&D activities to develop bio & green solvents and highly fragmented market with the presence of a few large market players make the intensity of competition in the bio & green solvents market moderate to high. The petrochemical-based solvent market is a consolidated market with exceedingly large players possessing large production capacities in the industry. A few players in the petrochemical-based solvents market have integrated both, backward and forward to obtain cost advantages. Due to low product differentiation, the quality of product does not have an impact on the market. Thus, intensity of competition in the petrochemical-based solvents market is low. Fluctuating prices of raw materials adversely impact the overall cost of production incurred by the manufacturers of solvents. High capital costs coupled with the licensing of proprietary technology restrict the entry of new players into the market.

Expansion has been the major developmental strategy adopted between 2014 and 2018 by the key players in the solvents market for passenger cars. Companies such as Royal Dutch Shell Plc. (Netherlands), Eastman Chemical Company (US), BASF SE (Germany), and ExxonMobil Corporation (US) have adopted these strategies to strengthen their market presence and customer base as well as gain a competitive edge in the market. These companies also focus on investing in R&D activities to introduce new and cost-effective solvents to meet changing consumer needs.

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