The global solvent market is forecast to earn revenues of about USD 33 billion in 2019. Especially the dynamic economic development in emerging countries like China, India, Brazil, or Russia will continue to boost the demand for solvents, according market research company Ceresana.
The market research institute expects worldwide solvent consumption to increase at an average annual rate of 2.5 % over the next years. Accordingly, the growth rate seen during past eight years will be surpassed. Amongst other things, the report analyzes how the use of solvents will develop in individual markets. Most important buyers include producers of paints and coatings. The solvent demand in the paint and coating industry is predicted to increase by 2.9 % per year until 2019. The coatings producers are followed by a considerable distance by printing ink manufacturers: The printing ink industry accounted for somewhat more than 8 % of global solvent demand in 2011. The adhesive industry is expected to record the strongest growth in solvent use. Besides private consumption, adhesives are increasingly used in industrial applications.