Solvents

Solvents

Growth in the US solvents market will total 1.1% annually through 2020, reaching 9.6 billion pounds. Gains will be driven by improvements in the economy and rising construction and manufacturing expenditures. Solvents considered ‘green’ for being eco-friendly and derived from renewable resources will see substantial growth due to growing consumer demands for green products as well as the continued regulation of conventional, petroleum-based solvents.

This report segments the solvents industry by Product and Market. Data is provided in million pounds.

Major solvent products include:
Alcohols
Hydrocarbons
Glycols
Ketones
Esters
Halogenated Solvents
Soy Oil & Derivatives

Alcohols will remain the largest of these through 2020, accounting for 33% of the market. Fastest growth will be for Soy Oil & Derivatives, as well as smaller product groups like terpenes, driven by the growing popularity of green solvents among end users and the incentive among producers to invest in solvents that face less regulatory hurdles than many conventional solvents do.

Major solvent markets include:
Paint & Coatings
Printing Inks
Cleaning Products
Oil & Gas
Cosmetics & Toiletries
Adhesives & Sealants
Construction

Paint & Coatings was the leading outlet in 2015, accounting for 26% of demand. The most rapid gains through 2020 are forecast for the Adhesives & Sealants market, fueled by increases in construction spending, although non-solvent adhesives will continue to gain popularity and slow the growth of demand for solvent-borne adhesives.

The US solvents industry is composed of some of the most prominent chemical companies in the world. Major suppliers of solvents include Archer-Daniels-Midland (ADM), BASF, BP, Cargill, Celanese, Dow Chemical, Eastman Chemical, Exxon Mobil, Huntsman, INEOS, Koch Industries, and LyondellBasell.