Ceresana Publishes Report on the Global Market for Solvents
CONSTANCE, Germany – Market research firm Ceresana has published the third edition of its comprehensive report on the global market for solvents. According to the study, solvents valuing about $25 billion were sold in 2013. Market analysts expect revenues to rise by another 4% per annum until 2021.
The largest consumers of solvents are manufacturers of paints and varnishes, followed at a considerable distance by producers of printing inks. Demand on the part of the pharma industry ranked third, followed by utilization in cosmetics and adhesives. Other important applications are chemical manufacturing processes, cooling circuits, dry-cleaning and deicers. In the paints and varnishes segment, a trend towards waterborne products and other more environmentally friendly alternatives becomes apparent. In Europe and North America particularly, the market share of solvent-borne paints and varnishes is falling, as these are regarded as hazardous to environment and health.