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DATE
APR 2021
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240
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CODE
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HIGHLIGHTS & REPORT INDEX
Global Solvents Market to Reach 33.3 Million Metric Tons by 2026
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 33.3 Million Metric Tons by 2026, growing at a CAGR of 2.6% over the analysis period. Alcohols, one of the segments analyzed in the report, is projected to record a 4.1% CAGR and reach 13.5 Million Metric Tons by the end of the analysis period. After a thorough 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.
The U.S. Market is Estimated at 8.7 Million Metric Tons in 2021, While China is Forecast to Reach 5.9 Million Metric Tons by 2026
The Solvents market in the U.S. is estimated at 8.7 Million Metric Tons in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of 5.9 Million Metric Tons by the year 2026 trailing a CAGR of 2.3% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.6% and 1.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR.
Esters Segment to Reach 5.7 Million Metric Tons by the year 2026
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.
SELECT PLAYERS
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.
SEGMENTS
» Product Segment (Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents, Ethers)
GEOGRAPHIES
» World » United States » Canada » Japan » China » Europe » France » Germany » Italy » United Kingdom » and Rest of Europe » Asia-Pacific » Rest of World
TABLE OF CONTENTS
| I. METHODOLOGY |
| II. EXECUTIVE SUMMARY |
| 1. MARKET OVERVIEW |
| Influencer Market Insights |
| World Market Trajectories |
| 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 |
| 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 |
| World Current & Future Analysis for Solvents by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2020 through 2027 and % CAGR |
| World Historic Review for Solvents by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| World 15-Year Perspective for Solvents by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets for Years 2012, 2020 & 2027 |
| World Current & Future Analysis for Alcohols by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2020 through 2027 and % CAGR |
| World Historic Review for Alcohols by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| World 15-Year Perspective for Alcohols by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 |
| World Current & Future Analysis for Hydrocarbon Solvents by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2020 through 2027 and % CAGR |
| World Historic Review for Hydrocarbon Solvents by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| World 15-Year Perspective for Hydrocarbon Solvents by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 |
| World Current & Future Analysis for Esters by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2020 through 2027 and % CAGR |
| World Historic Review for Esters by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| World 15-Year Perspective for Esters by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 |
| World Current & Future Analysis for Ketones by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2020 through 2027 and % CAGR |
| World Historic Review for Ketones by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| World 15-Year Perspective for Ketones by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 |
| World Current & Future Analysis for Chlorinated Solvents by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2020 through 2027 and % CAGR |
| World Historic Review for Chlorinated Solvents by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| World 15-Year Perspective for Chlorinated Solvents by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 |
| World Current & Future Analysis for Ethers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2020 through 2027 and % CAGR |
| World Historic Review for Ethers by Geographic Region - USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| World 15-Year Perspective for Ethers by Geographic Region - Percentage Breakdown of Value Sales for USA, Canada, Japan, China, Europe, Asia-Pacific and Rest of World for Years 2012, 2020 & 2027 |
| III. MARKET ANALYSIS |
| UNITED STATES |
| USA Current & Future Analysis for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers - Independent Analysis of Annual Sales in Metric Tons for the Years 2020 through 2027 and % CAGR |
| USA Historic Review for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| USA 15-Year Perspective for Solvents by Product Segment - Percentage Breakdown of Value Sales for Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers for the Years 2012, 2020 & 2027 |
| CANADA |
| Canada Current & Future Analysis for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers - Independent Analysis of Annual Sales in Metric Tons for the Years 2020 through 2027 and % CAGR |
| Canada Historic Review for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| Canada 15-Year Perspective for Solvents by Product Segment - Percentage Breakdown of Value Sales for Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers for the Years 2012, 2020 & 2027 |
| JAPAN |
| Japan Current & Future Analysis for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers - Independent Analysis of Annual Sales in Metric Tons for the Years 2020 through 2027 and % CAGR |
| Japan Historic Review for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| Japan 15-Year Perspective for Solvents by Product Segment - Percentage Breakdown of Value Sales for Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers for the Years 2012, 2020 & 2027 |
| CHINA |
| China Current & Future Analysis for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers - Independent Analysis of Annual Sales in Metric Tons for the Years 2020 through 2027 and % CAGR |
| China Historic Review for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| China 15-Year Perspective for Solvents by Product Segment - Percentage Breakdown of Value Sales for Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers for the Years 2012, 2020 & 2027 |
| EUROPE |
| Europe Current & Future Analysis for Solvents by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2020 through 2027 and % CAGR |
| Europe Historic Review for Solvents by Geographic Region - France, Germany, Italy, UK and Rest of Europe Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| Europe 15-Year Perspective for Solvents by Geographic Region - Percentage Breakdown of Value Sales for France, Germany, Italy, UK and Rest of Europe Markets for Years 2012, 2020 & 2027 |
| Europe Current & Future Analysis for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers - Independent Analysis of Annual Sales in Metric Tons for the Years 2020 through 2027 and % CAGR |
| Europe Historic Review for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| Europe 15-Year Perspective for Solvents by Product Segment - Percentage Breakdown of Value Sales for Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers for the Years 2012, 2020 & 2027 |
| FRANCE |
| France Current & Future Analysis for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers - Independent Analysis of Annual Sales in Metric Tons for the Years 2020 through 2027 and % CAGR |
| France Historic Review for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| France 15-Year Perspective for Solvents by Product Segment - Percentage Breakdown of Value Sales for Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers for the Years 2012, 2020 & 2027 |
| GERMANY |
| Germany Current & Future Analysis for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers - Independent Analysis of Annual Sales in Metric Tons for the Years 2020 through 2027 and % CAGR |
| Germany Historic Review for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| Germany 15-Year Perspective for Solvents by Product Segment - Percentage Breakdown of Value Sales for Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers for the Years 2012, 2020 & 2027 |
| ITALY |
| Italy Current & Future Analysis for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers - Independent Analysis of Annual Sales in Metric Tons for the Years 2020 through 2027 and % CAGR |
| Italy Historic Review for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| Italy 15-Year Perspective for Solvents by Product Segment - Percentage Breakdown of Value Sales for Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers for the Years 2012, 2020 & 2027 |
| UNITED KINGDOM |
| UK Current & Future Analysis for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers - Independent Analysis of Annual Sales in Metric Tons for the Years 2020 through 2027 and % CAGR |
| UK Historic Review for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| UK 15-Year Perspective for Solvents by Product Segment - Percentage Breakdown of Value Sales for Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers for the Years 2012, 2020 & 2027 |
| REST OF EUROPE |
| Rest of Europe Current & Future Analysis for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers - Independent Analysis of Annual Sales in Metric Tons for the Years 2020 through 2027 and % CAGR |
| Rest of Europe Historic Review for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| Rest of Europe 15-Year Perspective for Solvents by Product Segment - Percentage Breakdown of Value Sales for Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers for the Years 2012, 2020 & 2027 |
| ASIA-PACIFIC |
| Asia-Pacific Current & Future Analysis for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers - Independent Analysis of Annual Sales in Metric Tons for the Years 2020 through 2027 and % CAGR |
| Asia-Pacific Historic Review for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| Asia-Pacific 15-Year Perspective for Solvents by Product Segment - Percentage Breakdown of Value Sales for Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers for the Years 2012, 2020 & 2027 |
| REST OF WORLD |
| Rest of World Current & Future Analysis for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers - Independent Analysis of Annual Sales in Metric Tons for the Years 2020 through 2027 and % CAGR |
| Rest of World Historic Review for Solvents by Product Segment - Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers Markets - Independent Analysis of Annual Sales in Metric Tons for Years 2012 through 2019 and % CAGR |
| Rest of World 15-Year Perspective for Solvents by Product Segment - Percentage Breakdown of Value Sales for Alcohols, Hydrocarbon Solvents, Esters, Ketones, Chlorinated Solvents and Ethers for the Years 2012, 2020 & 2027 |
| IV. COMPETITION |
| Total Companies Profiled: 144 |
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