The global Hydrocarbon Solvent Market size was USD 8.77 Billion in 2022 and is expected to reach USD 12.7 Billion in 2032, and register a revenue CAGR of 4.2% during the forecast period. Rising demand for hydrocarbon Solvents across a range of end-use sectors, including paints & coatings, Printing Inks, adhesives, and pharmaceuticals, among others, is one of the major factors driving the market revenue growth. Population growth, urbanization, and industrialization are some of the causes that are driving the expansion of these businesses.
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Major Companies:
- ExxonMobil Corporation
- Royal Dutch Shell plc
- Total S.A.
- Chevron Phillips Chemical Company LP
- LyondellBasell Industries N.V.
- Phillips 66
- SK Innovation Co., Ltd.
- Gazprom Neft PJSC
- China National Petroleum Corporation (CNPC)
- Bharat Petroleum Corporation Limited (BPCL)
Competitive Landscape:
The report further sheds light on the competitive landscape and provides in depth information about each market player including its global position, product portfolio, financial standing, revenue growth and company overview. The market players are focused on adopting various inorganic and organic growth strategies such as mergers and acquisitions, joint ventures, collaborations, product launches and partnerships to gain a robust footing in the market.
Key questions addressed in the report:
- What is the expected market size of the global Hydrocarbon Solvent market during the forecast period?
- What CAGR is the global market expected to register during the forecast period?
- Which key factors are expected to boost global market growth between 2021 and 2028?
- What are the key restraints that are expected to hamper global market growth?
- Which regional market is expected to register robust CAGR during the forecast period?
- Which key players are operating the global Hydrocarbon Solvent market?
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Hydrocarbon Solvent Market Segmentation:
By Type Outlook:
- Aliphatic
- Aromatic
- Others
By Application Outlook:
- Paints and Coatings
- Adhesives
- Printing Inks
- Cleaning and Degreasing
- Others
Key Regional Markets Covered in the Report:
- North America (U.S.A., Canada, Mexico)
- Europe (Italy, U.K., Germany, France, Rest of Europe)
- Asia Pacific (India, China, Japan, South Korea, Australia, Rest of Asia Pacific)
- Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of Middle East & Africa)
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