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Report
North America Hydrocarbon Solvents Market
Market Report I 2025-03-01 I 350 Pages I Data Bridge Market Research
North America hydrocarbon solvents market is expected to reach USD 5.62 billion by 2040 from USD 1.98 billion in 2024, growing with a substantial CAGR of 6.92% in the forecast period of 2025 to 2040.
Market Segmentation:
North America 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 (U.S., Canada, and Mexico) - Industry Trends and Forecast to 2040
Overview of North America 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 North America hydrocarbon solvents market are:
- Exxon Mobil Corporation
- Chevron Phillips Chemical Company LLC
- Eastman Chemical Company
- Ashland
- Honeywell International Inc
- Calumet, Inc.
- RB PRODUCTS, INC.
- Gulf Chemical & Industrial Oils
- Halton Chemical Inc.
- Gotham Industries
TABLE OF CONTENTS
1 INTRODUCTION 64
1.1 OBJECTIVES OF THE STUDY 64
1.2 MARKET DEFINITION 64
1.3 OVERVIEW 64
1.4 LIMITATIONS 65
1.5 MARKETS COVERED 65
2 MARKET SEGMENTATION 73
2.1 MARKETS COVERED 73
2.2 GEOGRAPHICAL SCOPE 74
2.3 YEARS CONSIDERED FOR THE STUDY 75
2.4 CURRENCY AND PRICING 75
2.5 DBMR TRIPOD DATA VALIDATION MODEL 76
2.6 MULTIVARIATE MODELING 79
2.7 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 80
2.8 DBMR MARKET POSITION GRID 81
2.9 DBMR VENDOR SHARE ANALYSIS 82
2.10 MARKET APPLICATION COVERAGE GRID 83
2.11 SECONDARY SOURCES 84
2.12 ASSUMPTIONS 85
3 EXECUTIVE SUMMARY 86
4 PREMIUM INSIGHTS 91
4.1 PESTEL ANALYSIS 92
4.1.1 POLITICAL FACTORS 92
4.1.2 ECONOMIC FACTORS 92
4.1.3 SOCIAL FACTORS 92
4.1.4 TECHNOLOGICAL FACTORS 93
4.1.5 ENVIRONMENTAL FACTORS 93
4.1.6 LEGAL FACTORS 93
4.2 PORTER'S FIVE FORCES 94
4.2.1 THREAT OF NEW ENTRANTS 94
4.2.2 BARGAINING POWER OF SUPPLIERS 95
4.2.3 BARGAINING POWER OF BUYERS 95
4.2.4 THREAT OF SUBSTITUTES 95
4.2.5 INDUSTRY RIVALRY 96
4.3 PRICING ANALYSIS 97
4.4 PRODUCTION CAPACITY OF KEY MANUFACTURERS 98
4.5 IMPORT EXPORT SCENARIO 99
4.6 PRODUCTION CONSUMPTION ANALYSIS 100
4.7 CLIMATE CHANGE SCENARIO 101
4.7.1 ENVIRONMENTAL CONCERNS 101
4.7.2 INDUSTRY RESPONSE 101
4.7.3 GOVERNMENT'S ROLE 101
4.7.4 ANALYST RECOMMENDATIONS 102
4.8 VENDOR SELECTION CRITERIA 103
4.9 DETAILED OVERVIEW OF THE COMPOSITION AND CHARACTERISTICS OF HYDROCARBON SOLVENTS 105
4.9.1 ALIPHATIC HYDROCARBONS 105
4.9.1.1 MINERAL SPIRITS / WHITE SPIRIT 105
4.9.1.2 PARAFFINIC SOLVENTS 105
4.9.2 MINERAL OIL (WHITE OIL) 106
4.9.3 AROMATIC SOLVENTS 106
4.9.4 CYCLOALIPHATIC SOLVENTS 106
4.9.5 GENERAL CONSIDERATIONS 107
4.10 PRICE INFORMATION OF SUB-PRODUCTS 108
4.10.1 NAPTHA 108
4.10.1.1 FACTORS AFFECTING PRICE MOVEMENTS 108
4.10.2 TOLUENE 108
4.10.2.1 FACTORS AFFECTING PRICE MOVEMENTS 109
4.10.3 XYLENE 109
4.10.3.1 FACTORS AFFECTING PRICE MOVEMENTS 110
4.10.4 XYLENE 110
4.10.4.1 FACTORS AFFECTING PRICE MOVEMENTS 110
4.11 RAW MATERIAL COVERAGE 111
4.11.1 PETROLEUM-BASED RAW MATERIALS 111
4.11.2 NATURAL GAS-DERIVED RAW MATERIALS 111
4.11.3 RENEWABLE FEEDSTOCKS: BIO-BASED HYDROCARBONS 111
4.11.4 RECYCLED SOLVENTS 111
4.11.5 SYNTHETIC HYDROCARBONS 112
4.12 SOURCES OF HYDROCARBON SOLVENT STREAMS: REFINERY VS. PETROCHEMICAL 113
4.12.1 REFINERY STREAMS 113
4.12.2 PETROCHEMICAL STREAMS 113
4.12.3 KEY DIFFERENCES BETWEEN REFINERY AND PETROCHEMICAL STREAMS 113
4.12.4 EXAMPLES OF HYDROCARBON STREAMS AND THEIR USE IN SOLVENT PRODUCTION 114
4.12.5 CONCLUSION 114
4.13 SUPPLY CHAIN ANALYSIS 115
4.13.1 OVERVIEW 115
4.13.2 LOGISTIC COST SCENARIO 115
4.13.3 IMPORTANCE OF LOGISTICS SERVICE PROVIDERS 115
4.14 TECHNOLOGICAL ADVANCEMENTS 116
4.14.1 DEVELOPMENT OF LOW-VOC AND NON-VOC SOLVENTS 116
4.14.2 BIO-BASED HYDROCARBON SOLVENTS 116
4.14.3 SOLVENT BLENDS FOR IMPROVED EFFICIENCY 116
4.14.4 ADVANCED PURIFICATION AND RECYCLING TECHNIQUES 116
4.14.5 INNOVATION IN PACKAGING AND SAFETY 117
4.14.6 DIGITALIZATION AND SMART SOLVENT SYSTEMS 117
4.14.7 CONCLUSION 117
5 REGULATORY COVERAGE 118
6 MARKET OVERVIEW 120
6.1 DRIVERS 122
6.1.1 GROWING DEMAND FOR HYDROCARBON SOLVENTS FROM END-USE INDUSTRIES 122
6.1.2 FAST EXPANDING CONSTRUCTION AND AUTOMOTIVE SECTORS 123
6.1.3 RISING DEMAND FOR INDUSTRIAL CLEANING AGENTS 124
6.1.4 INCREASING USE OF HYDROCARBON SOLVENTS IN OIL AND GAS 125
6.2 RESTRAINTS 126
6.2.1 STRICT REGULATIONS ON VOLATILE ORGANIC COMPOUNDS EMISSIONS AND SOLVENT DISPOSAL 126
6.2.2 VOLATILITY IN RAW MATERIAL PRICES 127
6.3 OPPORTUNITIES 128
6.3.1 GROWING DEMAND FOR GREEN AND BIO-BASED SOLVENTS 128
6.3.2 TECHNOLOGICAL ADVANCEMENTS AND INNOVATIONS IN SOLVENT BLENDS 129
6.3.3 INCREASING APPLICATIONS IN PHARMACEUTICALS AND PERSONAL CARE 129
6.4 CHALLENGES 131
6.4.1 STIFF COMPETITION FROM ALTERNATIVE SOLVENTS 131
6.4.2 HEALTH HAZARDS AND TOXICITY ISSUES FOR WORKERS 132
7 NORTH AMERICA HYDROCARBON SOLVENTS MARKET, BY TYPE 133
7.1 OVERVIEW 134
7.2 AROMATIC SOLVENTS 135
7.3 ALIPHATIC SOLVENTS 137
7.4 MINERAL OILS 139
7.5 CYCLOALIPHATIC SOLVENTS 140
7.6 OTHERS 141
8 NORTH AMERICA HYDROCARBON SOLVENTS MARKET, BY APPLICATION 142
8.1 OVERVIEW 143
8.2 PAINTS AND COATINGS 145
8.3 ADHESIVES 146
8.4 PHARMACEUTICAL 147
8.5 CLEANING AND DEGREASING 148
8.6 PRINTING INKS 150
8.7 AGRICULTURE 151
8.8 RUBBER AND POLYMERS 152
8.9 CHEMICALS 153
8.10 AEROSOLS 155
8.11 COSMETICS 156
8.12 DRILLING FLUIDS 157
8.13 FLUXES FOR BITUMEN 158
8.14 METAL EXTRACTION 159
8.15 METAL WORKING LUBRICANT 160
8.16 SEALANTS 161
8.17 EXPLOSIVES 163
8.18 OTHERS 164
9 NORTH AMERICA HYDROCARBON SOLVENTS MARKET, BY REGION 165
9.1 NORTH AMERICA 166
9.1.1 U.S. 181
9.1.2 CANADA 194
9.1.3 MEXICO 207
10 NORTH AMERICA HYDROCARBON SOLVENTS MARKET: COMPANY LANDSCAPE 220
10.1 COMPANY SHARE ANALYSIS: NORTH AMERICA 220
11 SWOT ANALYSIS 221
12 COMPANY PROFILES 222
12.1 EXXON MOBIL CORPORATION 222
12.1.1 COMPANY SNAPSHOT 222
12.1.2 REVENUE ANALYSIS 223
12.1.3 COMPANY SHARE ANALYSIS 223
12.1.4 PRODUCT PORTFOLIO 224
12.1.5 RECENT DEVELOPMENT 225
12.2 BASF 226
12.2.1 COMPANY SNAPSHOT 226
12.2.2 REVENUE ANALYSIS 226
12.2.3 COMPANY SHARE ANALYSIS 227
12.2.4 PRODUCT PORTFOLIO 227
12.2.5 RECENT DEVELOPMENT 230
12.3 TOTALENERGIES 231
12.3.1 COMPANY SNAPSHOT 231
12.3.2 REVENUE ANALYSIS 231
12.3.3 COMPANY SHARE ANALYSIS 232
12.3.4 PRODUCT PORTFOLIO 232
12.3.5 RECENT DEVELOPMENT 233
12.4 SHELL PLC 234
12.4.1 COMPANY SNAPSHOT 234
12.4.2 REVENUE ANALYSIS 234
12.4.3 COMPANY SHARE ANALYSIS 235
12.4.4 PRODUCT PORTFOLIO 235
12.4.5 RECENT DEVELOPMENT/NEWS 237
12.5 CHEVRON PHILLIPS CHEMICAL COMPANY LLC 238
12.5.1 COMPANY SNAPSHOT 238
12.5.2 COMPANY SHARE ANALYSIS 238
12.5.3 PRODUCT PORTFOLIO 239
12.5.4 RECENT DEVELOPMENT/NEWS 240
12.6 ADNOC 241
12.6.1 COMPANY SNAPSHOT 241
12.6.2 PRODUCT PORTFOLIO 241
12.6.3 RECENT DEVELOPMENT 242
12.7 ASHLAND 243
12.7.1 COMPANY SNAPSHOT 243
12.7.2 REVENUE ANALYSIS 244
12.7.3 PRODUCT PORTFOLIO 244
12.7.4 RECENT DEVELOPMENT 244
12.8 AVANI PETROCHEM PVT. LTD. 245
12.8.1 COMPANY SNAPSHOT 245
12.8.2 PRODUCT PORTFOLIO 245
12.8.3 RECENT DEVELOPMENT 246
12.9 BP P.L.C. 247
12.9.1 COMPANY SNAPSHOT 247
12.9.2 REVENUE ANALYSIS 247
12.9.3 PRODUCT PORTFOLIO 248
12.9.4 RECENT DEVELOPMENT 248
12.10 BRASKEM 249
12.10.1 COMPANY SNAPSHOT 249
12.10.2 REVENUE ANALYSIS 249
12.10.3 PRODUCT PORTFOLIO 250
12.10.4 RECENT DEVELOPMENT 251
12.11 CALUMET, INC. 252
12.11.1 COMPANY SNAPSHOT 252
12.11.2 REVENUE ANALYSIS 252
12.11.3 PRODUCT PORTFOLIO 253
12.11.4 RECENT DEVELOPMENT 254
12.12 CHINA PETROCHEMICAL CORPORATION 255
12.12.1 COMPANY SNAPSHOT 255
12.12.2 REVENUE ANALYSIS 255
12.12.3 PRODUCT PORTFOLIO 256
12.12.4 RECENT DEVELOPMENT/NEWS 257
12.13 EASTMAN CHEMICAL COMPANY 258
12.13.1 COMPANY SNAPSHOT 258
12.13.2 REVENUE ANALYSIS 259
12.13.3 PRODUCT PORTFOLIO 259
12.13.4 RECENT DEVELOPMENT 260
12.14 ENGEN PETROLEUM LTD 261
12.14.1 COMPANY SNAPSHOT 261
12.14.2 PRODUCT PORTFOLIO 261
12.14.3 RECENT DEVELOPMENT 261
12.15 GOTHAM INDUSTRIES 262
12.15.1 COMPANY SNAPSHOT 262
12.15.2 PRODUCT PORTFOLIO 262
12.15.3 RECENT DEVELOPMENT 263
12.16 GULF CHEMICAL & INDUSTRAL OILS 264
12.16.1 COMPANY SNAPSHOT 264
12.16.2 PRODUCT PORTFOLIO 264
12.16.3 RECENT DEVELOPMENT 265
12.17 HALTERMANN CARLESS GROUP GMBH 266
12.17.1 COMPANY SNAPSHOT 266
12.17.2 PRODUCT PORTFOLIO 266
12.17.3 RECENT DEVELOPMENT/NEWS 267
12.18 HALTON CHEMICAL INC. 268
12.18.1 COMPANY SNAPSHOT 268
12.18.2 PRODUCT PORTFOLIO 268
12.18.3 RECENT DEVELOPMENT 269
12.19 HONEYWELL INTERNATIONAL INC 270
12.19.1 COMPANY SNAPSHOT 270
12.19.2 REVENUE ANALYSIS 271
12.19.3 PRODUCT PORTFOLIO 271
12.19.4 RECENT DEVELOPMENT 272
12.20 JUN YUAN PETROLEUM GROUP 273
12.20.1 COMPANY SNAPSHOT 273
12.20.2 PRODUCT PORTFOLIO 273
12.20.3 RECENT DEVELOPMENT 275
12.21 LANXESS 276
12.21.1 COMPANY SNAPSHOT 276
12.21.2 REVENUE ANALYSIS 276
12.21.3 PRODUCT PORTFOLIO 277
12.21.4 RECENT DEVELOPMENT 277
12.22 LYONDELLBASELL INDUSTRIES HOLDING B.V. 278
12.22.1 COMPANY SNAPSHOT 278
12.22.2 REVENUE ANALYSIS 278
12.22.3 PRODUCT PORTFOLIO 279
12.22.4 RECENT DEVELOPMENT 282
12.23 NESTE 283
12.23.1 COMPANY SNAPSHOT 283
12.23.2 REVENUE ANALYSIS 283
12.23.3 PRODUCT PORTFOLIO 284
12.23.4 RECENT DEVELOPMENT 285
12.24 RB PRODUCTS, INC. 286
12.24.1 COMPANY SNAPSHOT 286
12.24.2 PRODUCT PORTFOLIO 286
12.24.3 RECENT DEVELOPMENT 288
12.25 RELIANCE INDUSTRIES LIMITED 289
12.25.1 COMPANY SNAPSHOT 289
12.25.2 REVENUE ANALYSIS 289
12.25.3 PRODUCT PORTFOLIO 290
12.25.4 RECENT DEVELOPMENT 290
12.26 SASOL 291
12.26.1 COMPANY SNAPSHOT 291
12.26.2 REVENUE ANALYSIS 291
12.26.3 PRODUCT PORTFOLIO 292
12.26.4 RECENT DEVELOPMENT 293
13 QUESTIONNAIRE 294
14 RELATED REPORT 297
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