The hydrocarbon solvents market is forecasted to grow by USD 2746.9 mn during 2023-2028, accelerating at a CAGR of 5.24% during the forecast period. The report on the hydrocarbon solvents market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by advances in extraction and refining processes of hydrocarbons, steady demand for durable and high-performance coatings, and growing emphasis on bio-based and low-VOC hydrocarbon solvents.
Technavio's hydrocarbon solvents market is segmented as below:
Market Scope
Base Year
2024
End Year
2028
Series Year
2024-2028
Growth Momentum
Accelerate
YOY 2024
4.31%
CAGR
5.24%
Incremental Value
$2746.9mn
By Type
Aromatic
Aliphatic
Others
By End-user
Paints and coatings
Adhesives
Printing inks
Others
By Geography
APAC
North America
Europe
South America
Middle East and Africa
This study identifies the rise of digitalization and automation in hydrocarbon solvent manufacturing as one of the prime reasons driving the hydrocarbon solvents market growth during the next few years. Also, development of non-toxic and recyclable catalysts for production of hydrocarbon solvents and new product launches by market vendors will lead to sizable demand in the market.
The report on the hydrocarbon solvents market covers the following areas:
Hydrocarbon solvents market sizing
Hydrocarbon solvents market forecast
Hydrocarbon solvents market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading hydrocarbon solvents market vendors that include BASF SE, Chemex Organochem Pvt Ltd., Chevron Phillips Chemical Co. LLC, Clariant AG, Dow Inc., Eastman Chemical Co., Exxon Mobil Corp., Honeywell International Inc., Huntsman Corp., Idemitsu Kosan Co. Ltd., INEOS AG, LyondellBasell Industries N.V., Neste Corp., Reliance Industries Ltd., Sasol Ltd., Shell PLC, SK geo centric Co Ltd, Sydney Solvents, TotalEnergies SE, and Univar Solutions Inc.. Also, the hydrocarbon solvents market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.
Table of Contents
1 Executive Summary
1.1 Market overview
Executive Summary - Chart on Market Overview
Executive Summary - Data Table on Market Overview
Executive Summary - Chart on Global Market Characteristics
Executive Summary - Chart on Market by Geography
Executive Summary - Chart on Market Segmentation by Type
Executive Summary - Chart on Market Segmentation by End-user
Executive Summary - Chart on Incremental Growth
Executive Summary - Data Table on Incremental Growth
Executive Summary - Chart on Company Market Positioning
2 Technavio Analysis
2.1 Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria
2.2 Criticality of inputs and Factors of differentiation
Overview on criticality of inputs and factors of differentiation
2.3 Factors of disruption
Overview on factors of disruption
2.4 Impact of drivers and challenges
Impact of drivers and challenges in 2023 and 2028
3 Market Landscape
3.1 Market ecosystem
Parent Market
Data Table on - Parent Market
3.2 Market characteristics
Market characteristics analysis
3.3 Value chain analysis
Value Chain Analysis
4 Market Sizing
4.1 Market definition
Offerings of companies included in the market definition
4.2 Market segment analysis
Market segments
4.3 Market size 2023
4.4 Market outlook: Forecast for 2023-2028
Chart on Global - Market size and forecast 2023-2028 ($ million)
Data Table on Global - Market size and forecast 2023-2028 ($ million)
Chart on Global Market: Year-over-year growth 2023-2028 (%)
Data Table on Global Market: Year-over-year growth 2023-2028 (%)
5 Historic Market Size
5.1 Global Hydrocarbon Solvents Market 2018 - 2022
Historic Market Size - Data Table on Global Hydrocarbon Solvents Market 2018 - 2022 ($ million)