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Adhesive Industry is Expected to Record the Strongest Growth in Solvent Use in Coming Years, Reports Ceresana

Published on 2012-04-06. Author : SpecialChem

Ceresana forecasts the global solvent market to earn revenues of about US$33 billion in 2019. Especially the dynamic economic development in emerging countries like China, India, Brazil, or Russia will continue to boost demand for solvents. The market research institute expects global demand to increase by 2.5% annually over the next years.

With a roughly 39% share of global consumption, Asia-Pacific is the largest solvent outlet, followed by North America and Western Europe. The analysts from Ceresana expect Asian countries to further increase their shares in the global solvent market - mainly at the expense of saturated industrial countries. Many emerging and developing countries benefit from an increasing solvent demand - above all in the paint, coating, and adhesive industries.

The most frequently used solvents are alcohols, such as ethanol, n-butanol, isopropanol, and methanol. Global demand for alcohol solvents was approximately 6.4 million tonnes in 2011. Demand for ethanol and ethers is projected to rise at an above-average growth rate of more than 3% per year between 2011 and 2019.

Demand for halogenated solvents is especially declining in Western Europe and North America. Also aromatics and pure hydrocarbons will continue their downward trend. The solvent market is considerably influenced by legal regulations and the growing environmental awareness of end-consumers.

Changes targeted at reducing the environmental impact of solvents will focus on both production methods and further substitutions of specific solvent types. Moreover, the most comprehensive report worldwide analyzes how the use of solvents will develop in individual markets. Most important buyers include producers of paints and coatings.

They are followed by printing ink manufacturers, the pharmaceutical industry, cosmetics, and adhesives. Furthermore, solvents are used in a broad variety of other industrial applications, for example in chemical manufacturing processes, cooling circuits, chemical dry-cleaning, and as de-icing agents.

Solvent demand in the paint & coating industry is predicted to increase by 2.9% per year until 2019. Mainly emerging and developing countries will boost this trend: Rising prosperity in these countries will result in an increasing per-capita consumption of paints. Western Europe and North America will continue to pursue their goal of reducing emissions of VOCs (volatile organic compounds). The shifting from solvent-based paints to water-based or other solventfree paints is negatively impacting the solvent demand in these regions. In the other regions, environmental protection is far less important. However, this will change in the long term.

The adhesive industry is expected to record the strongest growth in solvent use. Besides private consumption, adhesives are increasingly used in industrial applications. They allow for easy, safe and flexible connections, which are usually inexpensive and light-weight.

About Ceresana

Ceresana is the most trusted market research company for the industry. They have the information and tools to guide clients to success. Their expert team provides reliable and comprehensive market analyses and forecasts, which help their customers to compete the best in their market segment. Several 1,000 companies from more than 55 countries already profit from their global market intelligence to achieve and maintain a sustainable competitive advantage. They offer multi-client reports as well as single-client studies, tailored to specific business requirements. Our highest quality services will help you to increase revenues, reduce risks, and strengthen market position. The Ceresana business analysts are specialists in markets such as chemicals, plastics, additives, commodities, industrial components, packaging, and construction materials.

Source: Ceresana

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