Global $57 Bn Solvents Market Forecast to 2023
DUBLIN, Sept. 17, 2018 /PRNewswire/ --
The "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" report has been added to ResearchAndMarkets.com's offering.
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. The solvents market has been segmented on the basis of source, product type, application, and region.
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.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
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
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
5.4 Porter's Five Forces Analysis: Bio & Green Solvents Market
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
6.1 Introduction
6.1.1 Petrochemical-Based Solvents
6.1.2 Bio & Green Solvents
7 Bio & Green Solvents Market
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
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
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
11 Competitive Landscape
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
12 Company Profiles
12.1 Royal Dutch Shell PLC
12.2 Eastman Chemical Company
12.3 BASF SE
12.4 Exxonmobil Corporation
12.5 Lyondellbasell Industries Holdings B.V.
12.6 Ashland Global Holdings Inc.
12.7 Celanese Corporation
12.8 Huntsman Corporation
12.9 Solvay SA
12.10 Honeywell International Inc.
12.11 INEOS AG
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.
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