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Report
Global Hydrocarbon Solvents Market
Market Report I 2025-03-01 I 350 Pages I Data Bridge Market Research
The global hydrocarbon solvents market is expected to reach USD 19.02 billion by 2040 from USD 6.60 billion in 2024, growing with a substantial CAGR of 7.03% in the forecast period of 2025 to 2040.
Market Segmentation:
Global Hydrocarbon Solvents Market, By Type (Aromatic Solvents, Aliphatic Solvents, Mineral Oils, Cycloaliphatic Solvents, and Others), Application (Paints and Coatings, Adhesives, Pharmaceutical, Cleaning and Degreasing, Printing Inks, Agriculture, Rubber and Polymers, Chemicals, Aerosols, Cosmetics, Drilling Fluids, Fluxes for Bitumen, Metal Extraction, Metal Working Lubricant, Sealants, Explosives, and Others), Countries (China, India, Japan, South Korea, Singapore , Thailand, Indonesia, Malaysia. Philippines, Australia, New Zealand, Taiwan, Rest of Asia-Pacific, U.S., Canada, Mexico, Germany, France, Italy, Netherlands, U.K., Russia, Spain, Turkey, Switzerland, Belgium, Norway, Sweden, Finland, Denmark, Poland, Rest of Europe, South Africa, Saudi Arabia, Egypt, U.A.E., Israel, Rest of Middle East and Africa, Brazil, Argentina, and Rest of South America) - Industry Trends and Forecast to 2040
Overview of Global Hydrocarbon Solvents Market Dynamics:
Driver
- Growing demand for hydrocarbon solvents from end-use industries
Restraint
- Strict regulations on volatile organic compounds emissions and solvent disposal
Opportunity
- Growing demand for green and bio-based solvents
Market Players:
The key players operating in the global hydrocarbon solvents market are:
- Exxon Mobil Corporation
- BASF
- TotalEnergies
- Shell plc
- Chevron Phillips Chemical Company LLC
- China Petrochemical Corporation
- ADNOC
- SASOL
- Eastman Chemical Company
- ENGEN PETROLEUM LTD
- Ashland
- BP p.l.c.
- Reliance Industries Limited
- Honeywell International Inc
- LyondellBasell Industries Holdings B.V.
- Calumet, Inc.
- Braskem
- Haltermann Carless Group GmbH
- Neste
- LANXESS
- RB PRODUCTS, INC.
- Gulf Chemical & Industrial Oils
- Jun Yuan Petroleum Group
- Halton Chemical Inc.
- Avani Petrochem Pvt. Ltd.
- Gotham Industries
TABLE OF CONTENTS
1 INTRODUCTION 66
1.1 OBJECTIVES OF THE STUDY 66
1.2 MARKET DEFINITION 66
1.3 OVERVIEW 66
1.4 LIMITATIONS 67
1.5 MARKETS COVERED 67
2 MARKET SEGMENTATION 75
2.1 MARKETS COVERED 75
2.2 GEOGRAPHICAL SCOPE 76
2.3 YEARS CONSIDERED FOR THE STUDY 77
2.4 CURRENCY AND PRICING 77
2.5 DBMR TRIPOD DATA VALIDATION MODEL 78
2.6 MULTIVARIATE MODELING 81
2.7 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 82
2.8 DBMR MARKET POSITION GRID 83
2.9 DBMR VENDOR SHARE ANALYSIS 84
2.10 MARKET APPLICATION COVERAGE GRID 85
2.11 SECONDARY SOURCES 86
2.12 ASSUMPTIONS 87
3 EXECUTIVE SUMMARY 88
4 PREMIUM INSIGHTS 93
4.1 PESTEL ANALYSIS 94
4.1.1 POLITICAL FACTORS 94
4.1.2 ECONOMIC FACTORS 94
4.1.3 SOCIAL FACTORS 94
4.1.4 TECHNOLOGICAL FACTORS 95
4.1.5 ENVIRONMENTAL FACTORS 95
4.1.6 LEGAL FACTORS 95
4.2 PORTER'S FIVE FORCES 96
4.2.1 THREAT OF NEW ENTRANTS 96
4.2.2 BARGAINING POWER OF SUPPLIERS 97
4.2.3 BARGAINING POWER OF BUYERS 97
4.2.4 THREAT OF SUBSTITUTES 97
4.2.5 INDUSTRY RIVALRY 98
4.3 PRICING ANALYSIS 99
4.4 PRODUCTION CAPACITY OF KEY MANUFACTURERS 100
4.5 IMPORT EXPORT SCENARIO 101
4.6 PRODUCTION CONSUMPTION ANALYSIS 102
4.7 CLIMATE CHANGE SCENARIO 103
4.7.1 ENVIRONMENTAL CONCERNS 103
4.7.2 INDUSTRY RESPONSE 103
4.7.3 GOVERNMENT'S ROLE 103
4.7.4 ANALYST RECOMMENDATIONS 104
4.8 VENDOR SELECTION CRITERIA 105
4.9 DETAILED OVERVIEW OF THE COMPOSITION AND CHARACTERISTICS OF HYDROCARBON SOLVENTS 107
4.9.1 ALIPHATIC HYDROCARBONS 107
4.9.1.1 MINERAL SPIRITS / WHITE SPIRIT 107
4.9.1.2 PARAFFINIC SOLVENTS 107
4.9.2 MINERAL OIL (WHITE OIL) 108
4.9.3 AROMATIC SOLVENTS 108
4.9.4 CYCLOALIPHATIC SOLVENTS 108
4.9.5 GENERAL CONSIDERATIONS 109
4.10 PRICE INFORMATION OF SUB-PRODUCTS 110
4.10.1 NAPTHA 110
4.10.1.1 FACTORS AFFECTING PRICE MOVEMENTS 110
4.10.2 TOLUENE 110
4.10.2.1 FACTORS AFFECTING PRICE MOVEMENTS 111
4.10.3 XYLENE 111
4.10.3.1 FACTORS AFFECTING PRICE MOVEMENTS 112
4.10.4 XYLENE 112
4.10.4.1 FACTORS AFFECTING PRICE MOVEMENTS 112
4.11 RAW MATERIAL COVERAGE 113
4.11.1 PETROLEUM-BASED RAW MATERIALS 113
4.11.2 NATURAL GAS-DERIVED RAW MATERIALS 113
4.11.3 RENEWABLE FEEDSTOCKS: BIO-BASED HYDROCARBONS 113
4.11.4 RECYCLED SOLVENTS 113
4.11.5 SYNTHETIC HYDROCARBONS 114
4.12 SOURCES OF HYDROCARBON SOLVENT STREAMS: REFINERY VS. PETROCHEMICAL 115
4.12.1 REFINERY STREAMS 115
4.12.2 PETROCHEMICAL STREAMS 115
4.12.3 KEY DIFFERENCES BETWEEN REFINERY AND PETROCHEMICAL STREAMS 115
4.12.4 EXAMPLES OF HYDROCARBON STREAMS AND THEIR USE IN SOLVENT PRODUCTION 116
4.12.5 CONCLUSION 116
4.13 SUPPLY CHAIN ANALYSIS 117
4.13.1 OVERVIEW 117
4.13.2 LOGISTIC COST SCENARIO 117
4.13.3 IMPORTANCE OF LOGISTICS SERVICE PROVIDERS 117
4.14 TECHNOLOGICAL ADVANCEMENTS 118
4.14.1 DEVELOPMENT OF LOW-VOC AND NON-VOC SOLVENTS 118
4.14.2 BIO-BASED HYDROCARBON SOLVENTS 118
4.14.3 SOLVENT BLENDS FOR IMPROVED EFFICIENCY 118
4.14.4 ADVANCED PURIFICATION AND RECYCLING TECHNIQUES 118
4.14.5 INNOVATION IN PACKAGING AND SAFETY 119
4.14.6 DIGITALIZATION AND SMART SOLVENT SYSTEMS 119
4.14.7 CONCLUSION 119
5 REGULATORY COVERAGE 120
6 MARKET OVERVIEW 122
6.1 DRIVERS 124
6.1.1 GROWING DEMAND FOR HYDROCARBON SOLVENTS FROM END-USE INDUSTRIES 124
6.1.2 FAST EXPANDING CONSTRUCTION AND AUTOMOTIVE SECTORS 125
6.1.3 RISING DEMAND FOR INDUSTRIAL CLEANING AGENTS 126
6.1.4 INCREASING USE OF HYDROCARBON SOLVENTS IN OIL AND GAS 127
6.2 RESTRAINTS 128
6.2.1 STRICT REGULATIONS ON VOLATILE ORGANIC COMPOUNDS EMISSIONS AND SOLVENT DISPOSAL 128
6.2.2 VOLATILITY IN RAW MATERIAL PRICES 129
6.3 OPPORTUNITIES 130
6.3.1 GROWING DEMAND FOR GREEN AND BIO-BASED SOLVENTS 130
6.3.2 TECHNOLOGICAL ADVANCEMENTS AND INNOVATIONS IN SOLVENT BLENDS 131
6.3.3 INCREASING APPLICATIONS IN PHARMACEUTICALS AND PERSONAL CARE 131
6.4 CHALLENGES 133
6.4.1 STIFF COMPETITION FROM ALTERNATIVE SOLVENTS 133
6.4.2 HEALTH HAZARDS AND TOXICITY ISSUES FOR WORKERS 134
7 GLOBAL HYDROCARBON SOLVENTS MARKET, BY TYPE 135
7.1 OVERVIEW 136
7.2 AROMATIC SOLVENTS 137
7.3 ALIPHATIC SOLVENTS 139
7.4 MINERAL OILS 141
7.5 CYCLOALIPHATIC SOLVENTS 142
7.6 OTHERS 143
8 GLOBAL HYDROCARBON SOLVENTS MARKET, BY APPLICATION 144
8.1 OVERVIEW 145
8.2 PAINTS AND COATINGS 147
8.3 ADHESIVES 148
8.4 PHARMACEUTICAL 149
8.5 CLEANING AND DEGREASING 150
8.6 PRINTING INKS 152
8.7 AGRICULTURE 153
8.8 RUBBER AND POLYMERS 154
8.9 CHEMICALS 155
8.10 AEROSOLS 157
8.11 COSMETICS 158
8.12 DRILLING FLUIDS 159
8.13 FLUXES FOR BITUMEN 160
8.14 METAL EXTRACTION 161
8.15 METAL WORKING LUBRICANT 162
8.16 SEALANTS 163
8.17 EXPLOSIVES 165
8.18 OTHERS 166
9 GLOBAL HYDROCARBON SOLVENTS MARKET, BY REGION 167
9.1 OVERVIEW 168
9.2 ASIA-PACIFIC 171
9.2.1 CHINA 187
9.2.2 INDIA 200
9.2.3 JAPAN 212
9.2.4 SOUTH KOREA 225
9.2.5 SINGAPORE 238
9.2.6 THAILAND 251
9.2.7 INDONESIA 264
9.2.8 MALAYSIA 277
9.2.9 PHILIPPINES 290
9.2.10 AUSTRALIA 303
9.2.11 NEW ZEALAND 315
9.2.12 TAIWAN 327
9.2.13 REST OF ASIA-PACIFIC 339
9.3 NORTH AMERICA 340
9.3.1 U.S. 355
9.3.2 CANADA 368
9.3.3 MEXICO 381
9.4 EUROPE 394
9.4.1 GERMANY 410
9.4.2 FRANCE 423
9.4.3 ITALY 436
9.4.4 NETHERLANDS 449
9.4.5 U.K. 462
9.4.6 RUSSIA 475
9.4.7 SPAIN 488
9.4.8 TURKEY 501
9.4.9 SWITZERLAND 513
9.4.10 BELGIUM 525
9.4.11 NORWAY 537
9.4.12 SWEDEN 549
9.4.13 FINLAND 561
9.4.14 DENMARK 573
9.4.15 POLAND 585
9.4.16 REST OF EUROPE 596
9.5 MIDDLE EAST AND AFRICA 597
9.5.1 SOUTH AFRICA 612
9.5.2 SAUDI ARABIA 624
9.5.3 EGYPT 636
9.5.4 U.A.E. 648
9.5.5 ISRAEL 660
9.5.6 REST OF MIDDLE EAST AND AFRICA 671
9.6 SOUTH AMERICA 672
9.6.1 BRAZIL 687
9.6.2 ARGENTINA 700
9.6.3 REST OF SOUTH AMERICA 712
10 GLOBAL HYDROCARBON SOLVENTS MARKET: COMPANY LANDSCAPE 713
10.1 COMPANY SHARE ANALYSIS: GLOBAL 713
10.2 COMPANY SHARE ANALYSIS: ASIA-PACIFIC 714
10.3 COMPANY SHARE ANALYSIS: EUROPE 715
10.4 COMPANY SHARE ANALYSIS: NORTH AMERICA 716
11 SWOT ANALYSIS 717
12 COMPANY PROFILES 718
12.1 EXXON MOBIL CORPORATION 718
12.1.1 COMPANY SNAPSHOT 718
12.1.2 REVENUE ANALYSIS 719
12.1.3 COMPANY SHARE ANALYSIS 719
12.1.4 PRODUCT PORTFOLIO 720
12.1.5 RECENT DEVELOPMENT 721
12.2 BASF 722
12.2.1 COMPANY SNAPSHOT 722
12.2.2 REVENUE ANALYSIS 722
12.2.3 COMPANY SHARE ANALYSIS 723
12.2.4 PRODUCT PORTFOLIO 723
12.2.5 RECENT DEVELOPMENT 726
12.3 TOTALENERGIES 727
12.3.1 COMPANY SNAPSHOT 727
12.3.2 REVENUE ANALYSIS 727
12.3.3 COMPANY SHARE ANALYSIS 728
12.3.4 PRODUCT PORTFOLIO 728
12.3.5 RECENT DEVELOPMENT 729
12.4 SHELL PLC 730
12.4.1 COMPANY SNAPSHOT 730
12.4.2 REVENUE ANALYSIS 730
12.4.3 COMPANY SHARE ANALYSIS 731
12.4.4 PRODUCT PORTFOLIO 731
12.4.5 RECENT DEVELOPMENT/NEWS 733
12.5 CHEVRON PHILLIPS CHEMICAL COMPANY LLC 734
12.5.1 COMPANY SNAPSHOT 734
12.5.2 COMPANY SHARE ANALYSIS 734
12.5.3 PRODUCT PORTFOLIO 735
12.5.4 RECENT DEVELOPMENT/NEWS 736
12.6 ADNOC 737
12.6.1 COMPANY SNAPSHOT 737
12.6.2 PRODUCT PORTFOLIO 737
12.6.3 RECENT DEVELOPMENT 738
12.7 ASHLAND 739
12.7.1 COMPANY SNAPSHOT 739
12.7.2 REVENUE ANALYSIS 740
12.7.3 PRODUCT PORTFOLIO 740
12.7.4 RECENT DEVELOPMENT 740
12.8 AVANI PETROCHEM PVT. LTD. 741
12.8.1 COMPANY SNAPSHOT 741
12.8.2 PRODUCT PORTFOLIO 741
12.8.3 RECENT DEVELOPMENT 742
12.9 BP P.L.C. 743
12.9.1 COMPANY SNAPSHOT 743
12.9.2 REVENUE ANALYSIS 743
12.9.3 PRODUCT PORTFOLIO 744
12.9.4 RECENT DEVELOPMENT 744
12.10 BRASKEM 745
12.10.1 COMPANY SNAPSHOT 745
12.10.2 REVENUE ANALYSIS 745
12.10.3 PRODUCT PORTFOLIO 746
12.10.4 RECENT DEVELOPMENT 747
12.11 CALUMET, INC. 748
12.11.1 COMPANY SNAPSHOT 748
12.11.2 REVENUE ANALYSIS 748
12.11.3 PRODUCT PORTFOLIO 749
12.11.4 RECENT DEVELOPMENT 750
12.12 CHINA PETROCHEMICAL CORPORATION 751
12.12.1 COMPANY SNAPSHOT 751
12.12.2 REVENUE ANALYSIS 751
12.12.3 PRODUCT PORTFOLIO 752
12.12.4 RECENT DEVELOPMENT/NEWS 753
12.13 EASTMAN CHEMICAL COMPANY 754
12.13.1 COMPANY SNAPSHOT 754
12.13.2 REVENUE ANALYSIS 755
12.13.3 PRODUCT PORTFOLIO 755
12.13.4 RECENT DEVELOPMENT 756
12.14 ENGEN PETROLEUM LTD 757
12.14.1 COMPANY SNAPSHOT 757
12.14.2 PRODUCT PORTFOLIO 757
12.14.3 RECENT DEVELOPMENT 757
12.15 GOTHAM INDUSTRIES 758
12.15.1 COMPANY SNAPSHOT 758
12.15.2 PRODUCT PORTFOLIO 758
12.15.3 RECENT DEVELOPMENT 759
12.16 GULF CHEMICAL & INDUSTRAL OILS 760
12.16.1 COMPANY SNAPSHOT 760
12.16.2 PRODUCT PORTFOLIO 760
12.16.3 RECENT DEVELOPMENT 761
12.17 HALTERMANN CARLESS GROUP GMBH 762
12.17.1 COMPANY SNAPSHOT 762
12.17.2 PRODUCT PORTFOLIO 762
12.17.3 RECENT DEVELOPMENT/NEWS 763
12.18 HALTON CHEMICAL INC. 764
12.18.1 COMPANY SNAPSHOT 764
12.18.2 PRODUCT PORTFOLIO 764
12.18.3 RECENT DEVELOPMENT 765
12.19 HONEYWELL INTERNATIONAL INC 766
12.19.1 COMPANY SNAPSHOT 766
12.19.2 REVENUE ANALYSIS 767
12.19.3 PRODUCT PORTFOLIO 767
12.19.4 RECENT DEVELOPMENT 768
12.20 JUN YUAN PETROLEUM GROUP 769
12.20.1 COMPANY SNAPSHOT 769
12.20.2 PRODUCT PORTFOLIO 769
12.20.3 RECENT DEVELOPMENT 771
12.21 LANXESS 772
12.21.1 COMPANY SNAPSHOT 772
12.21.2 REVENUE ANALYSIS 772
12.21.3 PRODUCT PORTFOLIO 773
12.21.4 RECENT DEVELOPMENT 773
12.22 LYONDELLBASELL INDUSTRIES HOLDING B.V. 774
12.22.1 COMPANY SNAPSHOT 774
12.22.2 REVENUE ANALYSIS 774
12.22.3 PRODUCT PORTFOLIO 775
12.22.4 RECENT DEVELOPMENT 778
12.23 NESTE 779
12.23.1 COMPANY SNAPSHOT 779
12.23.2 REVENUE ANALYSIS 779
12.23.3 PRODUCT PORTFOLIO 780
12.23.4 RECENT DEVELOPMENT 781
12.24 RB PRODUCTS, INC. 782
12.24.1 COMPANY SNAPSHOT 782
12.24.2 PRODUCT PORTFOLIO 782
12.24.3 RECENT DEVELOPMENT 784
12.25 RELIANCE INDUSTRIES LIMITED 785
12.25.1 COMPANY SNAPSHOT 785
12.25.2 REVENUE ANALYSIS 785
12.25.3 PRODUCT PORTFOLIO 786
12.25.4 RECENT DEVELOPMENT 786
12.26 SASOL 787
12.26.1 COMPANY SNAPSHOT 787
12.26.2 REVENUE ANALYSIS 787
12.26.3 PRODUCT PORTFOLIO 788
12.26.4 RECENT DEVELOPMENT 789
13 QUESTIONNAIRE 790
14 RELATED REPORTSR 793
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