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Solvents - Global Market Trajectory & Analytics

  • ID: 338537
  • Report
  • July 2020
  • Region: Global
  • 240 Pages
  • Global Industry Analysts, Inc
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Global Solvents Market to Reach 34.1 Million Metric Tons by the Year 2027

Amid the COVID-19 crisis, the global market for Solvents estimated at 28.5 Million Metric Tons in the year 2020, is projected to reach a revised size of 34.1 Million Metric Tons by 2027, growing at a CAGR of 2.6% over the analysis period 2020-2027.Alcohols, one of the segments analyzed in the report, is projected to grow at a 4.1% CAGR to reach 13.5 Million Metric Tons by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Hydrocarbon Solvents segment is readjusted to a revised 0.1% CAGR for the next 7-year period. This segment currently accounts for a 21.4% share of the global Solvents market.

The U. S. Accounts for Over 29.4% of Global Market Size in 2020, While China is Forecast to Grow at a 2.3% CAGR for the Period of 2020-2027

The Solvents market in the U. S. is estimated at 8.4 Million Metric Tons in the year 2020. The country currently accounts for a 29.4% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of 6 Million Metric Tons in the year 2027 trailing a CAGR of 2.3% through 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 1.9% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR while Rest of European market (as defined in the study) will reach 6 Million Metric Tons by the year 2027.

Esters Segment Corners a 16.3% Share in 2020

In the global Esters segment, USA, Canada, Japan, China and Europe will drive the 3.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of 3.7 Million Metric Tons in the year 2020 will reach a projected size of 4.7 Million Metric Tons by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 3.8 Million Metric Tons by the year 2027.The publisher brings years of research experience to this 18th edition of our report. The 240-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Competitors identified in this market include, among others
  • BASF SE
  • BioAmber, Inc.
  • BP p. l.c.
  • Celanese Corporation
  • Chevron Phillips Chemical Company LP
  • CITGO Petroleum Corporation
  • Eastman Chemical Company
  • Exxon Mobil Corporation
  • Honeywell International, Inc.
  • Huntsman Corporation
  • INEOS Group Limited
  • LyondellBasell Industries N. V.
  • Occidental Chemical Corporation
  • Sasol Limited
  • Shell Chemicals Limited
  • Solvay S. A.

The global analysis and forecast periods covered within the report are 2020-2027 (Current & Future Analysis) and 2012-2019 (Historic Review). Research estimates are provided for 2020, while research projections cover the period 2021-2027.
Note: Product cover images may vary from those shown
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I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Recent Market Activity

A Prelude

Growing Popularity of Bio and Green Solvents

Market Prospects Intrinsically Linked to Economic Scenario

Stable Economic Outlook to Keep Market Sentiment Intact in the Immediate Term

Market Outlook

Asia-Pacific: The Most Important Market for Solvents

Global Competitor Market Shares

Solvents Competitor Market Share Scenario Worldwide (in %): 2020 & 2029

Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

Ashland Global Holdings Inc. (USA)

BASF SE (Germany)

BioAmber, Inc. (Canada)

BP p.l.c. (UK)

Celanese Corporation (USA)

Chevron Phillips Chemical Company LP (USA)

CITGO Petroleum Corporation (USA)

Eastman Chemical Company (USA)

Exxon Mobil Corporation (USA)

Honeywell International, Inc. (USA)

Huntsman Corporation (USA)

INEOS Group Limited (UK)

LyondellBasell Industries N.V. (The Netherlands)

Occidental Chemical Corporation (USA)

Sasol Limited (South Africa)

Shell Chemicals Limited (UK)

Solvay S.A. (Belgium)

The Dow Chemical Company (USA)

Union Carbide Corporation (USA)

Total S.A. (France)

3. MARKET TRENDS & DRIVERS

Green Solvents Set to Make Bigger Gains

Petrochemical-based Solvents vs Green Solvents: A Comparative Analysis

Environmental Regulations Spur Growth of Green Solvents

North America Leads in Bio Solvents for Oilfield Applications

Oxygenated Solvents - Green Credentials Drive Increased Consumption

Brief Overview of Select Oxygenated Solvents

Diacetone Alcohol (DAA)

Hexylene Glycol

Isophorone (IPHO)

Mesityl Oxide (MO)

Methylisobutylcarbinol (MIBC)

Methylisobutylketone (MIBK)

Trimethylcyclohexanone (TMCHONE)

Alcohols - the Largest and Fastest Growing Market

Dibasic Esters Gather Momentum

Methyl Ether Ketones Witness Demand Deceleration

Growing Demand for Acetates

Hydrocarbon and Chlorinated Solvents Demand on the Decline

Key Role of Solvents in a Plethora of Manufacturing & Processing Applications Keeps the Market Momentum Intact

Paints & Coatings: Major End-Use Sector for Solvents

Declining Use of Solvent-based Paints & Coatings Remains a Key Concern

Adhesives: A Conventional End-Use Application

Major End-Use Applications for Adhesives: A Snapshot

Industrial Cleaning: A Key Revenue Contributor

Electronic Cleaning Solvents - Banking on the Rise of Electronics Manufacturing

Household Cleaning Products Rely on Solvents for Effective Performance

Solvents Remain a Key Material in Pharmaceutical Preparation

Solvents: A Primary Material in Printing Ink Manufacturing

Application of Solvents in Printing Inks by Printing Process: A Snapshot

Rising Demand for Personal Care and Cosmetics Bodes Well for Market Growth

Solvents for Food Processing and Packaging

Use of Solvents Remains Important in Automobile Manufacturing and Assembly

Market to Benefit from Upward Trajectory in Automotive Production

Opportunity Indicators

Solvents & Solvent-containing Materials - Critical in Aircraft Construction

Metal Casting Industry Relies on Solvents for Smoother Process Operations

Solvents Induce Flexibility in Asphalt Compounding

Wood Preservation Made Easier with Solvents

Solvent Usage in Ground Transportation

Advanced Solvent Based Cleaning Systems Replace Aqueous Cleaning Systems

Trade Statistics

Organic Composite Solvents and Thinners, Prepared Paint or Varnish Removers

Waste Organic Solvents, Halogenated

Waste Organic Solvents, Non-Halogenated

4. GLOBAL MARKET PERSPECTIVE

TABLE 1: Solvents Global Market Estimates and Forecasts in Metric Tons by Region/Country: 2020-2027
TABLE 2: Solvents Global Retrospective Market Scenario in Metric Tons by Region/Country: 2012-2019
TABLE 3: Solvents Market Share Shift across Key Geographies Worldwide: 2012 VS 2020 VS 2027
TABLE 4: Alcohols (Product Segment) World Market by Region/Country in Metric Tons: 2020 to 2027
TABLE 5: Alcohols (Product Segment) Historic Market Analysis by Region/Country in Metric Tons: 2012 to 2019
TABLE 6: Alcohols (Product Segment) Market Share Breakdown of Worldwide Sales by Region/Country: 2012 VS 2020 VS 2027
TABLE 7: Hydrocarbon Solvents (Product Segment) Potential Growth Markets Worldwide in Metric Tons: 2020 to 2027
TABLE 8: Hydrocarbon Solvents (Product Segment) Historic Market Perspective by Region/Country in Metric Tons: 2012 to 2019
TABLE 9: Hydrocarbon Solvents (Product Segment) Market Sales Breakdown by Region/Country in Percentage: 2012 VS 2020 VS 2027
TABLE 10: Esters (Product Segment) Geographic Market Spread Worldwide in Metric Tons: 2020 to 2027
TABLE 11: Esters (Product Segment) Region Wise Breakdown of Global Historic Demand in Metric Tons: 2012 to 2019
TABLE 12: Esters (Product Segment) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027
TABLE 13: Ketones (Product Segment) World Market Estimates and Forecasts by Region/Country in Metric Tons: 2020 to 2027
TABLE 14: Ketones (Product Segment) Market Historic Review by Region/Country in Metric Tons: 2012 to 2019
TABLE 15: Ketones (Product Segment) Market Share Breakdown by Region/Country: 2012 VS 2020 VS 2027
TABLE 16: Chlorinated Solvents (Product Segment) World Market by Region/Country in Metric Tons: 2020 to 2027
TABLE 17: Chlorinated Solvents (Product Segment) Historic Market Analysis by Region/Country in Metric Tons: 2012 to 2019
TABLE 18: Chlorinated Solvents (Product Segment) Market Share Distribution in Percentage by Region/Country: 2012 VS 2020 VS 2027
TABLE 19: Ethers (Product Segment) World Market Estimates and Forecasts in Metric Tons by Region/Country: 2020 to 2027
TABLE 20: Ethers (Product Segment) Market Worldwide Historic Review by Region/Country in Metric Tons: 2012 to 2019
TABLE 21: Ethers (Product Segment) Market Percentage Share Distribution by Region/Country: 2012 VS 2020 VS 2027

III. MARKET ANALYSIS

GEOGRAPHIC MARKET ANALYSIS

UNITED STATES

Market Facts & Figures

US Solvents Market Share (in %) by Company: 2020 & 2025

Market Analytics
TABLE 22: United States Solvents Market Estimates and Projections in Metric Tons by Product Segment: 2020 to 2027
TABLE 23: Solvents Market in the United States by Product Segment: A Historic Review in Metric Tons for 2012-2019
TABLE 24: United States Solvents Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027

CANADA

TABLE 25: Canadian Solvents Market Estimates and Forecasts in Metric Tons by Product Segment: 2020 to 2027
TABLE 26: Canadian Solvents Historic Market Review by Product Segment in Metric Tons: 2012-2019
TABLE 27: Solvents Market in Canada: Percentage Share Breakdown of Sales by Product Segment for 2012, 2020, and 2027

JAPAN

TABLE 28: Japanese Market for Solvents: Annual Sales Estimates and Projections in Metric Tons by Product Segment for the Period 2020-2027
TABLE 29: Solvents Market in Japan: Historic Sales Analysis in Metric Tons by Product Segment for the Period 2012-2019
TABLE 30: Japanese Solvents Market Share Analysis by Product Segment: 2012 VS 2020 VS 2027

CHINA

TABLE 31: Chinese Solvents Market Growth Prospects in Metric Tons by Product Segment for the Period 2020-2027
TABLE 32: Solvents Historic Market Analysis in China in Metric Tons by Product Segment: 2012-2019
TABLE 33: Chinese Solvents Market by Product Segment: Percentage Breakdown of Sales for 2012, 2020, and 2027

EUROPE

Market Facts & Figures

European Solvents Market: Competitor Market Share Scenario (in %) for 2020 & 2025

Market Analytics
TABLE 34: European Solvents Market Demand Scenario in Metric Tons by Region/Country: 2020-2027
TABLE 35: Solvents Market in Europe: A Historic Market Perspective in Metric Tons by Region/Country for the Period 2012-2019
TABLE 36: European Solvents Market Share Shift by Region/Country: 2012 VS 2020 VS 2027
TABLE 37: European Solvents Market Estimates and Forecasts in Metric Tons by Product Segment: 2020-2027
TABLE 38: Solvents Market in Europe in Metric Tons by Product Segment: A Historic Review for the Period 2012-2019
TABLE 39: European Solvents Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027

FRANCE

TABLE 40: Solvents Market in France by Product Segment: Estimates and Projections in Metric Tons for the Period 2020-2027
TABLE 41: French Solvents Historic Market Scenario in Metric Tons by Product Segment: 2012-2019
TABLE 42: French Solvents Market Share Analysis by Product Segment: 2012 VS 2020 VS 2027

GERMANY

TABLE 43: Solvents Market in Germany: Recent Past, Current and Future Analysis in Metric Tons by Product Segment for the Period 2020-2027
TABLE 44: German Solvents Historic Market Analysis in Metric Tons by Product Segment: 2012-2019
TABLE 45: German Solvents Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027

ITALY

TABLE 46: Italian Solvents Market Growth Prospects in Metric Tons by Product Segment for the Period 2020-2027
TABLE 47: Solvents Historic Market Analysis in Italy in Metric Tons by Product Segment: 2012-2019
TABLE 48: Italian Solvents Market by Product Segment: Percentage Breakdown of Sales for 2012, 2020, and 2027

UNITED KINGDOM

TABLE 49: United Kingdom Market for Solvents: Annual Sales Estimates and Projections in Metric Tons by Product Segment for the Period 2020-2027
TABLE 50: Solvents Market in the United Kingdom: Historic Sales Analysis in Metric Tons by Product Segment for the Period 2012-2019
TABLE 51: United Kingdom Solvents Market Share Analysis by Product Segment: 2012 VS 2020 VS 2027

REST OF EUROPE

TABLE 52: Rest of Europe Solvents Market Estimates and Forecasts in Metric Tons by Product Segment: 2020-2027
TABLE 53: Solvents Market in Rest of Europe in Metric Tons by Product Segment: A Historic Review for the Period 2012-2019
TABLE 54: Rest of Europe Solvents Market Share Breakdown by Product Segment: 2012 VS 2020 VS 2027

ASIA-PACIFIC

TABLE 55: Solvents Market in Asia-Pacific by Product Segment: Estimates and Projections in Metric Tons for the Period 2020-2027
TABLE 56: Asia-Pacific Solvents Historic Market Scenario in Metric Tons by Product Segment: 2012-2019
TABLE 57: Asia-Pacific Solvents Market Share Analysis by Product Segment: 2012 VS 2020 VS 2027

REST OF WORLD

TABLE 58: Rest of World Solvents Market Estimates and Forecasts in Metric Tons by Product Segment: 2020 to 2027
TABLE 59: Rest of World Solvents Historic Market Review by Product Segment in Metric Tons: 2012-2019
TABLE 60: Solvents Market in Rest of World: Percentage Share Breakdown of Sales by Product Segment for 2012, 2020, and 2027

IV. COMPETITION

Total Companies Profiled: 144

Note: Product cover images may vary from those shown
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