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Global Industry Analysts, Inc. Predicts Solvents Market to Grow

Published on 2010-10-25. Author : SpecialChem

San Jose, California -- The Global Industry Analysts, Inc. (GIA) released a report titled "Solvents: A Global Strategic Business Report ". As per the report the market is expected to touch 19.9 million metric tons by the year 2015. Due to recession in the last couple of years the demand for solvents decreased. However the market will grow vigorously in the coming years as there will be increase in demand from technologically advanced sectors of electronics, medical products, and automotives.

Asia-Pacific being the largest region for solvents worldwide poised to register fastest CAGR through 2015. A strong economic and investment attitude is expected to promote demand for solvent-based products in the region Due to increasing demand of solvents in pesticides, paints and coatings, chemicals, rubbers, print inks, adhesives, cosmetics, pharmacy, light and other industries, the demand is expected to rise in China. Europe alone constitutes the other major market for solvents worldwide.

Awareness about the environmental, safety and health aspects of solvents use is growing in European market. The demand for Hydrocarbon and Chlorinated solvents is forecasted to decrease; alternatively the demand for Green solvent is going to increase. The paint industry moved to VOC-free products due to which there was a downfall in demand for solvents. The solvent based paints and coatings are being replaced by powder, water-based and radiation curable paints. However the solvent-based coatings market remains strong.

The report reviews the solvents markets, impact of recession on the markets, current market trends, key growth drivers, end-use market scenario, regulatory and environmental issues, recent product introductions, recent industry activity, and profiles of major/niche global as well as regional market participants. It also provides annual sales estimates and projections for Solvents market for the following geographic markets.

About Global Industry Analysts, Inc.

Global Industry Analysts, Inc., (GIA) is a reputed publisher of off-the-shelf market research. Founded in 1987, the company is globally recognized as one of the world's largest market research publishers. The company employs over 800 people worldwide and publishes more than 1200 full-scale research reports each year. Additionally, the company also offers thousands of smaller research products including company reports, market trend reports, and industry reports encompassing all major industries worldwide.

Written By : Specialchem Editorial Team
Based on information displayed on http://www.prweb.com

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