Global Hydrocarbon Solvents Market is forecasted to grow at a CAGR of 2.23% during 2016-2021, driven by rising demand in the major end user industries mainly construction and automotive industry. The market in developed regions is already matured and is witnessing sluggish growth while the developing regions are expected to witness consistent growth in the hydrocarbon solvents market.
Rising demand in the construction and automotive industry combined with the growing environmental concerns towards greener options is driving the demand for hydrocarbon solvents globally.
Asia Pacific is the highest growing market for hydrocarbon solvents with China & Korea being major market, North America is having moderate growth with U.S. providing momentum while Europe is having sluggish growth with Germany being the major market. Usage of Hydrocarbon & Oxygenated solvents, Boost in the Asia Pacific Market, launch of innovative new products and solutions and Boost in the Demand For Construction Chemicals is driving the market.
Growing infrastructural spending in developing regions, increasing demand for paints & coatings, increasing environmental concerns along with increasing legislations in the industry are some of the factors that drive the hydrocarbon solvents market.
Increasing concerns over the toxicity of volatile organic compounds (VOCs), stringent government regulations, growing demand for eco-friendly products along with stiff competition within the Industry are the major challenges the Industry has to face when dealing with the Hydrocarbon Solvents.
Scope of the Report
The report provides coverage By Source, By Type and By Application:
By Hydrocarbon Solvent Source:
- Conventional Source
- Bio-Green Based Source
By Hydrocarbon Solvent Type:
- Varnish & Paints, Mineral Spirits, Paraffinic Solvents, Solvent 140, Others
- Benzene, Toluene, Xylene, Ethyl benzene, Others
By Hydrocarbon Solvent Application:
- Paints & Coatings, Pharmaceuticals, Adhesives, Printing Inks, Personal Care, Metal Cleaning, Rubber & Polymer, Agricultural Chemicals
- Ashland Inc.
- BASF SE
- Celanese Corporation
- Eastman Chemical Company
- Exxonmobil Corporation
- Honeywell International Inc.
- Huntsman Corp.
- Ineos Ag
- Royal Dutch Shell
- Sasol Ltd.
For more information about this report visit http://www.researchandmarkets.com/research/vjfx6c/global
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SOURCE Research and Markets