KONSTANZ, Germany - Experts from Ceresana Research forecast the global solvents market to earn revenues of about $33 billion in 2019. Dynamic economic development in emerging countries like China, India, Brazil and Russia will continue to boost the demand for solvents. The market research institute expects worldwide solvent consumption to increase at an average annual rate of 2.5 percent over the next years. Accordingly, the growth rate seen during the past eight years will be surpassed.
The most frequently used solvents are alcohols, such as ethanol, n-butanol, isopropanol and methanol. About 6.4 million metric tons of alcohol-based solvents were utilized worldwide in 2011. Demand for ethanol and ethers is projected to rise at an above-average growth rate of more than 3 percent per year between 2011 and 2019. Demand for halogenated solvents is declining in Western Europe and North America. Also, aromatics and pure hydrocarbons will continue their downward trend.