As per this study the Global Hydrocarbon Solvents Market was valued USD XX MN (by revenue) in 2021 and is anticipated to reach USD XX MN by 2028 with a CAGR of XX%. By volume, the market was estimated XX Tons in 2021 and is expected to reach XX Tons by 2026 with a CAGR of XX%.
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.
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.
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.
- Paints & Coatings
- Cleaning & Degreasing
- Printing Inks
- Rubbers & Polymers
- Agriculture Chemicals
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 Ashland Inc, BP Plc, DowDuPont, Inc, Engen Petroleum Ltd, ExxonMobil Corporation, Formosa Petrochemical Corporation, Lyondellbasell Industries Holdings B.V., Reliance Industries Limited, Royal Dutch Shell, Sasol Solvents, Sinopec, Total S.A. and Others. 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.
A combination of primary and secondary research has been used to determine the market estimates and forecasts. Sources used for secondary research include (but not limited to) Paid Data Sources, Company Websites, Technical Journals, Annual Reports, SEC Filings and various other industry publications. Specific details on methodology used for this report can be provided on demand.