Business Network New York
Companies:51,220
Products and Services:2,875
Articles and publications:31,146 (+2)
Tenders & Vacancies:17

Hydrocarbon solvents market to surpass valuation of us$ 8.1 bn by 2030
Information may not be reliable

5/18/2021
The global hydrocarbon solvents market was valued over US$ 6.2 Bn in 2019 and is anticipated to expand at a CAGR of 4% during the forecast period.

Hydrocarbon Solvents Market: Introduction

The global hydrocarbon solvents market was valued over US$ 6.2 Bn in 2019 and is anticipated to expand at a CAGR of 4% during the forecast period. Hydrocarbon solvents are used to dissolve oil. They are also employed in the formulation of various solutions and processes. They add value to paints & coatings, cosmetics, adhesives, and lubricants due to their high solvency rate. Some hydrocarbon solvents are produced from natural resources such as sugarcane and vegetable oils. Their high rate of adoption is a key factor that increases the demand for bio-based paints, printing inks, and coatings.

Key Drivers of Hydrocarbon Solvents Market

Industries such as food & beverages, personal care, pharmaceuticals, and home care are focusing on innovative and unique packaging. These industries are focusing on product differentiation in order to increase their consumer base. Thus, growth of the packaging industry has been driving the printing inks industry. Increase in demand for hydrocarbon solvents among manufacturers of pharmaceuticals; and high adoption of aromatic solvents in printing inks, pesticides, insecticides, and agricultural chemicals are factors expected to boost the global hydrocarbon solvents market during the forecast period. The demand for hydrocarbon solvents, such as propane and butane, has been rising significantly since the past few years for the extraction of cannabis. Hydrocarbon solvents are preferred over organic solvents, as they are economically superior and safe to use.

Request a Sample-

https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=81289

Low price of hydrocarbon solvents vis-à-vis their counterparts and availability of petrochemical raw materials in various countries in Asia Pacific are primarily driving the hydrocarbon solvents market. Rise in sustainable utilization of hydrocarbon solvents in different end-use industries, increase in disposable income of the people, growth in market penetration, presence of major market players, and product innovations are other factors boosting the hydrocarbon solvents market. Decrease in prices of crude oil, a key raw material in paint production, is likely to lower the overall manufacturing expenses of paint companies. This is projected to fuel the production of paints, thereby driving the demand for solvents. Growth in production of printing inks and paints & coatings in Asia Pacific and Europe is expected to drive the demand for hydrocarbon solvents during the forecast period.

Increase in Environmental Concerns and Shift toward Bio-Based Solvents to Hamper Hydrocarbon Solvents Market

Hydrocarbon solvents, due to VOC emission are primarily considered toxic and hazardous for the environment and human health. Increase in stringent environmental regulations on solvents has resulted in a shift toward bio-based solvents. This trend of shift can be observed in almost every end-use industry, including adhesives & sealants, paints & coatings, textiles, cleaners, and oilfield chemicals. Unlike conventional solvents, bio-solvents are produced from biomass sources such as energy crops, forest products, aquatic biomass, and waste materials. They have lower toxicity, VOC content, and are biodegradable resulting in a safer and eco-friendly environment. Thus, rise in environmental concerns and increase in shift toward greener alternatives are expected to hamper the global hydrocarbon solvents market during the forecast period.

Request for covid19 impact analysis –

https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=81289

The dearth of universal directives pertaining to applications of hydrocarbon solvents is also estimated to hamper the market in the near future. Every country has different directives and legislations pertaining to the use of hydrocarbon solvents. Companies find it difficult to comply with these directives and legislations. This can discourage investment in the hydrocarbon solvents market, thereby restraining the market.

Asia Pacific Dominates Hydrocarbon Solvents Market

Based on region, Asia Pacific accounted for a major share of the global hydrocarbon solvents market in 2019. China is projected to lead the market in Asia Pacific over the next few years. Countries in Asia Pacific such as India, Japan, and South Korea are major consumers of hydrocarbon solvents due to rise in urbanization and population; and increase in the income of the middle-class population in these countries. Europe also held key share of the global hydrocarbon solvents market in 2019. It is a leading market for packaging and building & construction sectors. Majority of hydrocarbon solvents are used in these industries. Countries in the region such as Germany, Spain, France, and the U.K. are among the top producers of automobiles across the world. Thus, consumption of hydrocarbon solvents is high in the region.

Buy now-

https://www.transparencymarketresearch.com/checkout.php?rep_id=81289&ltype=S

Global Hydrocarbon Solvents Market: Segmentation

Hydrocarbon Solvents Market, by Type

  • Aliphatic Solvents
    • Varnish Makers’ & Painters’ Naphtha
    • Mineral Spirits
    • Hexane
    • Heptane
    • Others
  • Aromatic Solvents
    • Toluene
    • Xylene
    • Others

Hydrocarbon Solvents Market, by Application

  • Paints & Coatings
  • Cleaning & Degreasing
  • Printing Inks
  • Rubber & Polymer
  • Aerosols
  • Agriculture Chemicals
  • Pharmaceuticals
  • Others (including Cosmetics and Adhesives)

Hydrocarbon Solvents Market, by Region

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • France
    • U.K.
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC Countries
    • South Africa
    • Rest of Middle East & Africa

More Trending Report-

https://www.prnewswire.com/news-releases/utilization-across-diverse-end-users-to-bring-substantial-growth-prospects-for-hexane-market-from-2019-2027-tmr-301157982.html

view all (1037)

Other articles and publications:

Transparency Market Research delivers key insights on the global hydrocarbon resins market.
5/18/2021
A recent study published by Transparency Market Research on the electrolyte mixes market includes global industry analysis and opportunity assessment for 2020-2030
8/16/2021
The global ink solvents market was valued at US$ 692.3 Mn in 2017 and is projected to expand at a CAGR of 5.3% from 2018 to 2026
5/28/2021
The global hydrocarbon resins market is broadly affected by several factors, including usage of hydrocarbon resins in hot melt adhesives.
7/16/2021
Transparency Market Research delivers key insights on the global early production facility market
9/1/2021
Transparency Market Research delivers key insights on the global high performance ceramic coatings market.
4/22/2021

Articles and publications of other companies:

Global IoT Solutions Market for Energy Industry stood at US$9,300.9 mn in 2016 and is likely to rise to a valuation of US$94,011.8 mn by 2025.
3/30/2020
Transmission electron microscope market has been growing at a steady pace, owing to its growing demand in healthcare research.
4/14/2020
IMPORTANCE OF INVESTING IN VIRAL MARKETING IMPORTANCE OF INVESTING IN VIRAL MARKETING
Information may not be reliable
Do you think that investing in viral marketing can profit you? If you are still skeptical about the benefits of viral marketing, know its importance here.
4/13/2017
Mobissue is helping the marketers to promote their products and services through the mobile marketing with the help of distinctive features.
8/9/2017
People who want to crack the internet marketing code can now take advantage of this online marketing achievement shortcut available on the website http://e-business-e-marketing. com/
8/21/2017
Animiz recently announced the launch of its all-purpose video maker for the business marketers and the individuals for their personal use.
9/8/2017
Business details
  • +1 (518618) 103-0
  • Office No. 501-A, 5th Floor, VANTAGE 9 S. No. 36/1/1, Baner, Pune, Maharashtra 411045
Market Research Company
×