Rising demand in the construction and automotive industry combined with the growing environmental concerns towards greener options is driving the demand for hydrocarbon solvents globally

Date: 5 July 2016

According to recently published Azoth Analytics report “Global Hydrocarbon Solvents Market (By Source, By Type, By Application): Opportunities and Forecasts (2016-2021) - (By Source – Conventional, Bio-Green Based; By Type: Aliphatic - Varnish & Paints, Mineral Spirits, Paraffinic Solvents, Solvent 140; Aromatic – Benzene, Toluene, Xylene, Ethyl benzene;  By Application – Paints & Coatings, Pharmaceuticals, Adhesives, Printing Inks, Personal Care, Metal Cleaning, Rubber & Polymer, Agricultural Chemicals)”, global Hydrocarbon Solvents Market is forecasted to grow at a CAGR of 2.23% during 2016 – 2021F, on account of rising demand for construction and automotive industry where hydrocarbon solvents are used in cleaning of grease and oil mainly used in these industries. 

Strict regulations in the form of limiting the use of volatile organic compounds in hydrocarbon solvents has been implemented majorly in developed regions, because of which demand for green based hydrocarbon solvents have been on the rise, while conventional solvents highly dominate the developing regions, such as APAC and Latin America. 

The demand for conventional hydrocarbon solvents is changing particularly (i.e. declining) in Europe and North America, where various environmental regulations and acts are stringent thereby allowing bio-green based hydrocarbon solvents to be implemented. Aliphatic Hydrocarbon Solvents has a major dominance in the market and is expected to steadily rise while Aromatic is expected to decline gradually. Paintings and Coatings form the largest application market of Hydrocarbon Solvents followed by pharmaceuticals, adhesives and printing inks respectively.   
 
The report Global Hydrocarbon Solvents Market (By Source, By Type, By Application): Opportunities and Forecasts (2016-2021) - (By Source – Conventional, Bio-Green Based; By Type: Aliphatic - Varnish & Paints, Mineral Spirits, Paraffinic Solvents, Solvent 140; Aromatic – Benzene, Toluene, Xylene, Ethyl benzene;  By Application – Paints & Coatings, Pharmaceuticals, Adhesives, Printing Inks, Personal Care, Metal Cleaning, Rubber & Polymer, Agricultural Chemicals) has analysed the potential of Global Hydrocarbon Solvents Market and provides statistics and information on market size, shares and growth factors. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment evaluation. Besides, the report also identifies and analyses the emerging trends along with major drivers, challenges and opportunities in the global hydrocarbon solvents market. Additionally, the report also highlights market entry strategies for various companies across the globe. 
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