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Wiseguyreports.Com Adds “Solvent Market to Grow at CAGR of 4% 2016 and Forecast to 2020” To Its Research Database.
About the Solvent Market
This market research report includes a detailed segmentation of the global solvent market by product type (organic solvent and inorganic solvent) and by end use (paints and coatings, printing inks, cosmetics and adhesives, pharmaceutical, and others). It also outlines the market shares for critical regions like APAC, North America, Europe, and ROW. The key vendors analyzed in this market study are BASF, Celanese, Eastman Chemical Company, Exxon Mobil, Honeywell, and Huntsman.
Outlook of the global solvent market
Technavio’s market research analyst predicts the global solvent market to grow at a CAGR of approximately 4% during 2016 and 2020. Since the demand for solvents is heavily dependent on the growth of the construction industry, its increasing utilization for the construction of residential buildings and complexes will lead to this market’s steady growth during the estimated period. Recently, it has been observed that the construction industry has witnessed a sudden growth in emerging economies like Asia and Africa. The growth of the construction industry in these regions will propel the prospects for growth in this market during the forecast period.
In terms of geography, the APAC region will be the largest market for solvents during the forecast period. The widespread availability of labor and petrochemical feedstock in this region will foster market growth until 2020. Additionally, factors such as the growth of the pharmaceutical and paint & coatings industry in this region will impel the demand for solvents in APAC during the forecast period.
Segmentation by product type and analysis of the solvent market
- Organic solvent
- Inorganic solvent
The global solvent market is dominated by the organic solvent segment, which can be further categorized into oxygenated, hydrocarbon, and halogenated solvents. Alcohol-based solvents, which are categorized under oxygenated solvents emerged as the leading product segment in 2015 owing to its augmented demand from various end-user industries.
Application-based segmentation of the solvent market
- Paints and coatings
- Printing inks
- Cosmetics and adhesives
In 2015, the paints and coatings segment accounted for approximately 55% of the total market share. Factors such as the growing population and increased solvent consumption in various end-use industries like automotive, architecture, and pharmaceutical will bolster growth in this market segment during the forecast period. This segment was followed by the printing inks, cosmetics, and adhesives segment, which together accounted for less than 50% of the total market share.
Competitive landscape and key vendors
Numerous multinational players like BASF, Celanese, Eastman, ExxonMobil, Honeywell, and Huntsman dominate the global solvent market. The prospects for growth in this market are largely dependent on the economic and industrial growth of different geographies. The global prices for conventional solvents tend to be cyclical and volatile due to factors like the country’s economic conditions, global political scenarios, and the extraction of natural gasses and crude oil.
Key vendors in the market are -
- Eastman Chemical Company
- Exxon Mobil
Other prominent vendors in the market include BioAmber, Ineos, LyondellBasell, Sasol, Shell Chemicals, and Solvay.
Key questions answered in the report include
- What will the market size and the growth rate be in 2020?
- What are the key factors driving the global solvent market?
- What are the key market trends impacting the growth of the solvent market?
- What are the challenges to market growth?
- Who are the key vendors in this market space?
- What are the market opportunities and threats faced by the vendors in the global solvent market?
- Trending factors influencing the market shares of the APAC, North America, Europe, and the ROW.
- What are the key outcomes of the five forces analysis of the solvent market?
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Table of Content
PART 01: Executive summary
PART 02: Scope of the report
- Market overview
- Top-vendor offerings
PART 03: Market research methodology
- Research methodology
- Economic indicators
PART 04: Introduction
- Key market highlights
PART 05: Market landscape
- Market size and forecast
- Five forces analysis
PART 06: Market segmentation by product
PART 07: Geographical segmentation
PART 08: Market drivers
PART 09: Impact of drivers
PART 10: Market challenges
PART 11: Impact of drivers and challenges
PART 12: Market trends
PART 13: Vendor landscape
- Competitive landscape
- Other prominent vendors
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