Europe Hydrocarbon Solvents Market Size, Share & Trends Report

Europe Hydrocarbon Solvents Market Size, Share & Trends Analysis Report By Product (White Spirits, Hexane, Aromatic), By Application (Agriculture, Pharmaceutical), And Segment Forecasts, 2019 - 2025

  • Published Date: Jan, 2019
  • Base Year for Estimate: 2017
  • Report ID: GVR-3-68038-015-6
  • Format: Electronic (PDF)
  • Historical Data: 2014 - 2016
  • Number of Pages: 109

Industry Insights

The Europe hydrocarbon solvents market size was estimated to be USD 1.24 billion in 2017. It is anticipated to expand at a CAGR of 5.1% during the forecast period. Sustained consumption of petrochemical solvents in rapidly growing end-use industries such as paints & coatings, printing inks, metal cleaning, and adhesives has primarily driven the market. This category of diluents also covers a large range of cleaning products including daily-use consumer products to several tailored industrial cleaners.

The stringent regulatory scenario and end-user industry preferences have driven the industry to develop and formulate multi-functional solutions. Strong demand from the building and construction industry in the region has been a major factor for the rebound in demand in terms of volume. Hence, the growth of the European paints & coatings industry is anticipated to drive the demand for hydrocarbon solvents over the forecast period.

Germany hydrocarbon solvents market

The aromatic product category has witnessed varying applications in paints and coatings, printings, and several other end-use industries. Though oxygenated and bio-based solvents have been gaining importance in the present industry scenario, direct alternative to these diluents are not as compatible to it in terms of its characteristics and product desired output properties.

The products such as white spirits, hexane, and other aromatics some of the most significant petrochemical derivatives. The Europe hydrocarbon solvents market has witnessed varied levels of value addition across different stages of the value chain. Raw material prices is one of the most crucial parameters largely determining the new production within the market.

The product portfolios of the key industry participants are also rapidly changing to adjust to the changing demand scenarios. The market is highly diverse and includes numerous individual compounds and chemicals. The chemical companies take a few basic raw chemicals and transform them into substances that are valuable to other end-use industries, such as pharmaceuticals and agrochemicals.

Product Insights

White spirits are among the fastest growing product type and the segment is estimated to expand at a CAGR of 2.2% in terms of volume from 2018 to 2025. These primarily consist of aliphatic compounds and in some amount contain the aromatic compounds. The aromatics components typically include toluene and xylene. Such compounds find significant applications in industrial paints, adhesives, resins, and detergents.

Aromatic hydrocarbon solvents are widely used for manufacturing several petrochemical-based formulations, as the product category possesses very high degree of dissolution. It is the dominant product segment and accounted for around 35% the market share in terms of volume. These diluents possess some exceptional chemical and physical properties compared to the aliphatic counterparts. However, when in contact with atmosphere, the emissions from these compounds can be carcinogenic and fatal.

Application Insights

Paints and coatings is the largest application segment and held over 30% of market share in terms of revenue in 2017. Paints make use of many organic thinners, such as aromatics, aliphatic, ketones alcohols, and white spirits. These thinners are used as per the type of paint formulated, for instance, a solvent-borne paint would make use of more white spirits and high aromatic components than the water-based paints. Paints and coatings is among one of the most dynamic industries globally due to advancements in manufacturing technologies, evolving consumer preferences, and product formulations complying to various regulatory changes.

Printing ink is the second most significant application area for the hydrocarbon solvents. In printing inks, diluters can account for approximately 40% of the total ink formulation. These are primarily used in printing inks to carry or to dissolve particulate matters, such as pigments, resins, and dyes.

Europe hydrocarbon solvents market

Hydrocarbon solvents are used along with adhesives in applications ranging from vehicle tires to shoes soles. They are also widely used in industrial and household adhesives, as well as applications where high performance and durability is required, such as metal-to-metal bonding.

Country Insights

Germany holds the largest share of the market for hydrocarbon solvent in Europe. Germany is an attractive market for several industries and constitutes around 21% of European GDP. The nation's welcoming attitude towards Foreign Direct Investment (FDI) and with business free from regulations of confining day-to-day business has made German market open for investment in practically all the industry sectors. Some of the growing end-use industries for petrochemicals include automotive adhesive, pharmaceuticals, and paint industry. In addition, the country has rapidly developed in terms of the shift from commodities to specialty products.

France has also highlighted a broad prospect growth for the chemicals industry ranging from specialty to fine chemicals. The industry in the country is strong in terms of consumer chemicals, such as cosmetics, detergents, and soaps. Thus, hydrocarbon solvent industry in the country is also growing at an optimal rate. Some of the geographical advantages, such as the strategic location making it a brilliant trade destination with other European Union (EU) countries. This is further supported by excellent transportation infrastructure both domestically and internationally and cordial relationships with the Italy, Switzerland, and Germany.

Europe Hydrocarbon Solvents Market Share Insights

The top players in the regional market have implemented sustainable solutions coupled with maintaining long-term profits and complying with manufacturing standards in the dynamic regulatory scenario. Some companies are now concentrating on sustainable approaches to manufacture chemical intermediates with very low Volatile Organic Content (VOC) to prevent serious environmental impact.

Mergers and acquisitions are some of the most significant strategic moves adopted by the companies to boost their market share. The European hydrocarbon solvent companies face stiff competition in terms of technological, raw material (crude oil) quality & supply, and new product innovations.

Some of the significant companies predominant in the region include multinational companies, such as Dow Dupont, Total SA, Royal Dutch Shell, Eastman Chemical Company, Chevron Corporation, and Ashland.

Report Scope

Attribute

Details

Base year for estimation

2017

Actual estimates/Historical data

2014 - 2016

Forecast period

2018 - 2025

Market representation

Volume in Kilo Tons; Revenue in USD Million & CAGR from 2018 to 2025

Country scope

Germany, Italy, France, Poland, Czech Republic, Austria, Ukraine, Romania, Bulgaria, South Slavic region

Report coverage

Volume forecast, revenue forecast, company share, competitive landscape, growth factors and trends

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Segments Covered in the Report

This report forecasts volume and revenue growth at regional and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the Europe hydrocarbon solvents market report on the basis of product, application, and country:

  • Product Outlook (Volume Kilo Tons; Revenue, USD Million, 2014 - 2025)

    • White Spirits

    • Hexane

    • Aromatic Hydrocarbon Solvents

    • Others

  • Application Outlook (Volume Kilo Tons; Revenue, USD Million, 2014 - 2025)

    • Paints & Coatings

    • Printing Inks

    • Agriculture Chemicals

    • Pharmaceuticals

    • Adhesives

    • Metal Cleaning

    • Others

  • Country Outlook (Volume Kilo Tons; Revenue, USD Million, 2014 - 2025)

    • Germany

    • Italy

    • France

    • Poland

    • Czech Republic

    • Austria

    • Ukraine

    • Romania

    • Bulgaria

    • South Slavic Region

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