New Market Report projects recovery in global solvents demand

Citation

(2004), "New Market Report projects recovery in global solvents demand", Pigment & Resin Technology, Vol. 33 No. 1. https://doi.org/10.1108/prt.2004.12933aae.002

New Market Report projects recovery in global solvents demand

New Market Report projects recovery in global solvents demand

Keywords: Solvents, Market economy, Environment

Global demand for solvents will expand by a modest 2.3 per cent per year through 2007, to a total of nearly 20 million metric tons, but that growth pace would still top the 1.2 per cent annual growth rate from 1997 to 2002, a new market study concludes.

“World Solvents”, a report from The Freedonia Group Inc., Cleveland, forecasts that demand for the “environmentally unfriendly” hydrocarbon and chlorinated solvent types will continue to decline as a result of environmental regulations, with oxygenated and “green” solvents showing increased demand.

Regionally, Asia-Pacific will offer the greatest growth promise, with demand projected to expand at a brisk 4.8 per cent pace per year through 2007. In North America, demand is forecast to grow just 1.3 per cent per year, which would represent a recovery from the 0.5 per cent decline seen from 1997 to 2002. Growth in North America will be driven by the green- and oxygenated-solvents market, the study says. Continued declines in demand are projected for Western Europe with a 0.9 per cent annual retreat forecast in a region that is subject to environmental regulations described as the “strictest in the world,” particularly in Germany and some of the Scandinavian countries. The world's remaining markets will see demand growth of 3.9 per cent per year, the study says.

The study is offered for $4,800 by The Freedonia Group Inc.

For further details, visit the Web site: www.freedoniagroup.com