Hydrocarbon Solvents Market: By Type (Aliphatic, Aromatic), By Application (Paints & Coatings, Cleaning & Degreasing, Printing Inks, Rubbers & Polymers, Adhesives, Aerosols, Agriculture Chemicals, Pharmaceuticals, Others), and Geography  

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Hydrocarbon Solvents Market size was estimated at USD 7.42 billion in 2022 and is poised to grow at a CAGR of 3.02% from 2023-2029. Rising demand for solvents by various end-use industries such as metal cleaning, adhesives, paints & coatings, and printing inks has up surged the market growth. It also finds a wide of applications in cleaning products comprising of regular consumer usage products to numerous tailor-made industrial cleaners drives the growth of market. However, augmented cynicism on ecological sustainability of hydrocarbon solvents as well as high toxicity has restrained the growth of market. Global market report gives comprehensive outlook on hydrocarbon solvents across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East Africa. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). The market for hydrocarbon solvents is growing due to an increase in the use of hydrocarbon solvents by paint producers to create innovative products. A surge in the use of hydrocarbon solvents in the pharmaceutical industry is also propelling the market forward. However, the negative effects of hydrocarbon solvents on human health, such as dizziness and irritation of the nose and eyes, are limiting the market's growth. The market is predicted to grow rapidly in the near future, thanks to an increase in leading players' investments and technical improvements.

Global Hydrocarbon Solvents Market Summary

Study Period

2024-2030

Base Year

2023

CAGR

3.02%

Largest Market

Europe

Fastest Growing Market

Asia Pacific
Hydrocarbon Solvents Market Dynamics

Hydrocarbon solvents are used in various applications such as paints & coatings, printing inks, agriculture chemicals, pharmaceuticals, adhesives, metal cleaning, others. Paints and coatings is one of the major applications of hydrocarbon solvents. Paints make use of many organic thinners, such as white spirits, ketones alcohols, aromatics, aliphatic. Rapid industrial development coupled with evolving consumer preferences upsurges the demand for paints and coatings, thereby driving the market growth. The segment is further followed by printing inks. They find its applications to dissolve particulate matters, such as dyes, resins, pigments.

Key Features of the Reports

  • The report provides granular level information about the market size, regional market share, historic market (2018-2022) and forecast (2023-2029)
  • The report covers in-detail insights about the competitors overview, company share analysis, key market developments, and their key strategies
  • The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
  • The report tracks recent innovations, key developments and startups details that are actively working in the market
  • The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
  • The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porters Five Force Analysis in addition to recent technology advancements and innovations in the market.

Global Hydrocarbon Solvents Market Segmentation

By Type
  • Aliphatic
  • Aromatic
By Application
  • Paints & Coatings
  • Cleaning & Degreasing
  • Printing Inks
  • Rubbers & Polymers
  • Adhesives
  • Aerosols
  • Agriculture Chemicals
  • Pharmaceuticals
  • Others
By Geography
  • North America
  • Europe
  • Asia-Pacific
  • Latin America
  • Middle East and Africa

Frequently Asked Questions

The hydrocarbon solvents market size was valued at USD 7.42 billion in 2022

Growing Demand Owing to their Wide Range of Applications

Asia Pacific is the fastest-growing for hydrocarbon solvents market

Table of Content

  1. Executive Summary
  2. Global Hydrocarbon Solvents Market Introduction
    • Global Hydrocarbon Solvents Market Taxonomy
    • Global Hydrocarbon Solvents Market Definitions
      • Type
      • Application
  1. Global Hydrocarbon Solvents Market Dynamics
    • Drivers
    • Restraints
    • Opportunities/Unmet Needs of the Market
    • Trends
    • Global Hydrocarbon Solvents Market Dynamic Factors - Impact Analysis
    • Global Hydrocarbon Solvents Market Competition Landscape
  2. Global Hydrocarbon Solvents Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029
    • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
    • Year-over-Year (Y-o-Y) Growth Analysis (%)
    • Market Opportunity Analysis
  3. Global Hydrocarbon Solvents Market, By Type, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
    • Aliphatic
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Aromatic
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Hydrocarbon Solvents Market, By Application Type, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
    • Paints & Coatings
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Cleaning & Detergents
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Printing Inks
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Rubbers & Polymers
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Adhesives
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Aerosols
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Agriculture Chemicals
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Pharmaceuticals
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Others
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
  1. Global Hydrocarbon Solvents Market Forecast, By Region, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
    • North America
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Europe
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Asia-Pacific
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Latin America
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Middle East and Africa
      • Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
      • Year-over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%)
      • Market Opportunity Analysis
    • Global Hydrocarbon Solvents Market - Opportunity Analysis Index, By Type, Application and Region, 2023 - 2029
  2. North America Hydrocarbon Solvents Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
    • By Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Aliphatic
      • Aromatic
    • By Application Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Paints & Coatings
      • Cleaning & Degreasing
      • Printing Inks
      • Rubbers & Polymers
      • Adhesives
      • Aerosols
      • Agriculture Chemicals
      • Pharmaceuticals
      • Others
    • Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • US
      • Canada
    • North America Hydrocarbon Solvents Market - Opportunity Analysis Index, By Type, Application and Country, 2023 - 2029
    • North America Hydrocarbon Solvents Market Dynamics Trends
  3. Europe Hydrocarbon Solvents Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
    • By Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Aliphatic
      • Aromatic
    • By Application Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Paints & Coatings
      • Cleaning & Degreasing
      • Printing Inks
      • Rubbers & Polymers
      • Adhesives
      • Aerosols
      • Agriculture Chemicals
      • Pharmaceuticals
      • Others
    • Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Germany
      • UK
      • France
      • Spain
      • Italy
      • Russia
      • Rest of Europe
    • Europe Hydrocarbon Solvents Market - Opportunity Analysis Index, By Type, Application and Country, 2023 - 2029
    • Europe Hydrocarbon Solvents Market Dynamics Trends
  4. Asia-Pacific Hydrocarbon Solvents Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
    • By Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Aliphatic
      • Aromatic
    • By Application Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Paints & Coatings
      • Cleaning & Degreasing
      • Printing Inks
      • Rubbers & Polymers
      • Adhesives
      • Aerosols
      • Agriculture Chemicals
      • Pharmaceuticals
      • Others
    • Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Japan
      • China
      • India
      • ASEAN
      • Rest of Asia-Pacific
    • Asia-Pacific Hydrocarbon Solvents Market - Opportunity Analysis Index, By Type, Application and Country, 2023 - 2029
    • Asia-Pacific Hydrocarbon Solvents Market Dynamics Trends
  5. Latin America Hydrocarbon Solvents Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
    • By Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Aliphatic
      • Aromatic
    • By Application Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Paints & Coatings
      • Cleaning & Degreasing
      • Printing Inks
      • Rubbers & Polymers
      • Adhesives
      • Aerosols
      • Agriculture Chemicals
      • Pharmaceuticals
      • Others
    • Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • Brazil
      • Mexico
      • Argentina
      • Chile
      • Rest of Latin America
    • Latin America Hydrocarbon Solvents Market - Opportunity Analysis Index, By Type, Application and Country, 2023 - 2029
    • Latin America Hydrocarbon Solvents Market Dynamics Trends
  6. Middle East and Africa Hydrocarbon Solvents Market Analysis, 2018 - 2022 and Forecast, 2023 - 2029 (Revenue, USD Mn), Volume (000’ MT)
    • By Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Aliphatic
      • Aromatic
    • By Application Type Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn), Y-o-Y Growth (%), and Market Share (%)
      • Paints & Coatings
      • Cleaning & Degreasing
      • Printing Inks
      • Rubbers & Polymers
      • Adhesives
      • Aerosols
      • Agriculture Chemicals
      • Pharmaceuticals
      • Others
    • Country Analysis 2018 - 2022 and Forecast 2023 - 2029 by Revenue (USD Mn) Y-o-Y Growth (%) and Market Share (%)
      • South Africa
      • Gulf Cooperation Council (GCC) Countries
      • Rest of MEA
    • MEA Hydrocarbon Solvents Market - Opportunity Analysis Index, By Type, Application and Country, 2023 - 2029
    • MEA Hydrocarbon Solvents Market Dynamics Trends
  7. Competition Landscape
    • Strategic Dashboard of Top Market Players
    • Company Profiles (Introduction, Financial Analysis, Type & Service Offerings, Key Developments, Strategies, and SWOT Analysis)
      • Total S.A.
      • ExxonMobil Corporation
      • Royal Dutch Shell
      • DowDuPont, Inc.
      • Sinopec
      • Ashland Inc, BP Plc
      • Reliance Industries Limited
      • Sasol Solvents
      • Engen Petroleum Ltd.
  1. Research Methodology

   15. Key Assumptions and Acronyms

  • Total S.A.
  • ExxonMobil Corporation
  • Royal Dutch Shell
  • DowDuPont, Inc.
  • Sinopec
  • Ashland Inc, BP Plc
  • Reliance Industries Limited
  • Sasol Solvents
  • Engen Petroleum Ltd.

Adjacent Markets