As per this study the Global Hydrocarbon Solvents Market was valued USD 6.16 BN (by revenue) in 2022 and is anticipated to reach USD 9.1 BN by 2030 with a CAGR of 5%. Regarding volume, the market was calculated XX Kilo Tons in 2022 and forecast to touch XX Kilo Tons by 2030 with a CAGR of XX% during 2023-2030.
Hydrocarbon solvents are organic solvents used across various industries for cleaning or dissolving water-insoluble substances such as greases and oils. Hydrocarbon solvents are of two types aliphatic and aromatic. The aliphatic solvents are used in manufacturing rubber and paints as well as in oil extraction. Whereas, aromatic solvents used as thinners, for manufacturing paints, printing inks, insecticides, and agricultural chemicals. Moreover, its end-use industries include agriculture, paints and coatings, pharmaceuticals and automotive among others.
Market Dynamics
The rising demand for rubbers and polymers in various end-use industries is driving market growth. Additionally, increasing demand for paints and coatings owing to growing construction and automotive sector across the globe is further fuelling the market growth. On the other hand, increasing environmental concern for hydrocarbon solvent usage may restrict market growth. Whereas, growing industrial applications is expected to create potential opportunity during the forecast period.
This detailed market study is centered on the data obtained from multiple sources and is analyzed using numerous tools including porter's five forces analysis, market attractiveness analysis and value chain analysis. These tools are employed to gain insights of the potential value of the market facilitating the business strategists with the latest growth opportunities. Additionally, these tools also provide a detailed analysis of each application/product segment in the global market of hydrocarbon solvents.
Market Segmentation
The broad hydrocarbon solvents market has been sub-grouped into type and application. The report studies these subsets with respect to the geographical segmentation. The strategists can gain a detailed insight and devise appropriate strategies to target specific market. This detail will lead to a focused approach leading to identification of better opportunities.
By Тyре
- Aliphatic Solvents (Varnish Makers & Painters' Naphtha, Mineral Spirits, Hexane, Heptane, Others)
- Aromatic Solvents (Toluene, Xylene, Others)
By Application
- Paints & Coatings
- Cleaning & Degreasing
- Printing Inks
- Rubber & Polymer
- Aerosols
- Agriculture Chemicals
- Pharmaceuticals
- Others (including Cosmetics and Adhesives
Regional Analysis
Furthermore, the report comprises of the geographical segmentation which mainly focuses on current and forecast demand for hydrocarbon solvents in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report further focuses on demand for individual application segments in all the regions.
Global Hydrocarbon Solvents Market Share by Region (Representative Graph)
The report also covers detailed competitive landscape including company profiles of key players operating in the global market. The key players in the Hydrocarbon Solvents market include Exxon Mobil Corporation, Total SE, Royal Dutch Shell, Dow. An in-depth view of the competitive outlook includes future capacities, key mergers & acquisitions, financial overview, partnerships, collaborations, new product launches, new product developments and other developments with information in terms of H.Q.
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