DUBLIN, February 25, 2014 /PRNewswire/ --
Research and Markets (http://www.researchandmarkets.com/research/8bvhq2/solvents_market) has announced the addition of the "Concise Analysis of the International Solvents Market - Forecasts to 2018" report to their offering.
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Organic solvents find wide use in manufacturing industries and all traditional solvent applications. Conventional solvents can be further classified into alcohols, glycol ethers, hydrocarbons, ketones, acetate esters and chlorinated solvents based on their chemical composition.
Paints and coatings are required in abundance by the manufacturing and construction industries. The high growth in the construction sector of the BRIC nations has been influential in the rising demand for solvents. In addition, solvents are extensively used in applications such as printing-inks, pharmaceuticals, sealant and adhesives, and the demand generated from these applications for organic solvents have been driving the market. However, the volatile pricing of crude oil in the international market coupled with environmental issues are a serious restraint to this market. On the other hand, mounting regulatory pressures regarding the use of organic solvents have opened up avenues for alternate green solvents, which are atmosphere friendly and pose little or no health hazards to the people exposed to it.
Alcohol-based solvents emerged as the leading product segment with the largest market share of 29.7% terms of volume, in 2011. Hydrocarbon solvents followed alcohol in terms of market volume share and are projected to lose market share in the coming years to other types of solvents. Other solvents including bio-based solvents are expected to witness fastest growth over the forecast period, due to their eco friendly properties. Chlorinated solvents have the smallest market share mainly due to the toxic effects of the solvents.
The applications of solvents include paints and coatings market, printing ink market, pharmaceutical market, cosmetics & adhesives market and others including cleaning and de-icing. Paints and coatings market emerged as the largest consumer of solvents with a market share of 60.6% in 2011. Organic solvents are used in paints to dissolve colors and binders, to provide consistency in application of the paint. Along with being the market leading application of solvents, it is also expected to be the fastest growing application over the forecast period. Solvents also find huge application in pharmaceutical drug manufacturing process. However, due to industry efforts to minimize solvents use, in order to reduce toxicity levels in the medicines, its consumption is expected to decline in the pharmaceutical industry.
Key Topics Covered:
2 Executive Summary
3 Solvents - Industry Analysis
4 Solvents Market: Product Segment Analysis
5 Solvents Market: Application Analysis
6 Solvents Market: Regional Analysis
7 Company Profiles
- BASF SE
- British Petroleum
- Celanese Corporation
- Dow Oxygenated Solvents
- ExxonMobil Chemical Ltd
- Huntsman International LLC
- Maruzen Petrochemical Co Ltd
- Sasol Solvents
- Shell Chemicals
- Solvay Chemicals
For more information visit http://www.researchandmarkets.com/research/8bvhq2/solvents_market
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SOURCE Research and Markets