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North American Hydrocarbon Solvents (HCS) Market—Outlook and Trends : Cost Benefits and High Performance will Retain HCS Demand in Growing End-use Markets

  • March 2015
  • 163 pages
  • Frost & Sullivan
Report ID: 2813808

Summary

Table of Contents

Key Findings

•The North American market for hydrocarbon solvents (HCS) generated unit shipments of roughly x million metric tons valued at $ x billion in 2014, with special boiling points (SBPs) and dearomatized aliphatic chemistries generating more than % of the market revenue. The market’s compound average growth rate (CAGR) is forecasted to be x % during 2014–2019.
•SBPs have the highest share of market volume with x %, followed by dearomatized aliphatics with x %.
•SBPs overlap with aliphatics, as they are derived from aliphatics. Leading HCS suppliers do not differentiate SBPs in North America, and define them as aliphatics with narrower boiling ranges for specific applications that do not necessarily require an ASTM Stoddard solvent. Due to definitional overlaps with aliphatics and paraffins, SBP market size is estimated to be high, when Exxon, Shell, Calumet, and Citgo products with SBP features are included.
•Aromatics, excluding toluene and xylene (T&X), hold x % share, while mineral spirits hold x %.
•Aromatics and mineral spirits exhibit lower growth than n-paraffins, isoparaffins, dearomatized aliphatics, and SBPs.
•Low vapor pressure (LVP)* SBPs and dearomatized aliphatics are expected to be the main HCS of the future.
•Exxon and Calumet are expected to remain market leaders given their large production capacity and focus on growing applications such as oilfield and drilling and I&I cleaning.
•Paints and coatings, and adhesives and sealants are large end-use segments with diverse downstream potential*. Paints and coatings, and adhesives and sealants are traditional end-use segments for HCS and comprise about x % market share. Applications in automotive and corrosion protection sustain the use of HCS in coatings and adhesives.
•Oilfield and drilling constitutes x % of the total HCS market, and is the fastest-growing end-use segment, and is expected to grow at a CAGR of x %.
•Functional fluids (e.g., hydraulic fluids, lube and fuel additives, and lighter fluids) hold roughly x % market share, and process chemicals (e.g., catalyst-based processes, polymerization, textile and paper processing, oilseed extraction) about x %, and both end-use segments are expected to grow with CAGRs of x %.
•Industrial and institutional cleaning (I&I cleaning) includes dry cleaning and constitutes x % of the total market and is expected to grow at a CAGR of x %.
•The HCS used in functional fluids, process chemicals, consumer products, and pharmaceuticals exhibit higher average price points due to higher regulatory requirements and the inclusion of dearomatized aliphatics and SBPs.

Product Application Roadmap

Key Takeaway: Oilfield and drilling, I&I cleaning, process chemicals, and functional fluids are significantly large segments that are also growing faster than average.
•The oilfield and drilling, I&I cleaning, process chemicals, functional fluids, and paints and coatings end-use segments are sustaining the market demand for HCS.
•Suppliers can offer end-use-focused HCS, creating brands and product groups, based on researched criteria (e.g., LVP, low viscosity, degreasing power, chemical stability), combined with competitive technical service per vertical market.
•Paints and coatings is a mature segment but a large one being sustained as an end user of HCS.
•End-use segments such as paints and coatings, adhesives and sealants, consumer products, and printing inks have lowered the CAGR for the HCS market to x %.

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