The report, North America Specialty Solvents Market, lists certain chemicals under ten key chemical groups, such as alcohol, amine, ether, ester, etc., and studies their demand and forecast over the period from 2016 to 2022 in the North America market.
New York, NY -- (SBWIRE) -- 06/17/2016 -- According to the latest market report published by Persistence Market Research, titled "North America Market Study on Speciality Solvents: Pharmaceutical and Personal Care Segment to Exhibit above Average Growth during the Forecast Period 2016 - 2022," the North America specialty solvents market was valued at US$ 37.8 Bn in 2015 and is anticipated to expand at a CAGR of 4.5% from 2016 to 2022, to reach a market value of US$ 51.2 Bn by 2022.
The North America specialty solvents market is anticipated to grow from US$ 37.8 Bn in 2015 to US$ 51.2 Bn by 2022, expanding at a CAGR of 4.5% in terms of revenue during the forecast period (2016-2022).
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In this report, the North America specialty solvents market is tracked in terms of volume consumption, and is calibrated to obtain the market revenue estimates by multiplication of weighted average prices. Increasing demand from various end-use industries, such as pharmaceuticals & personal care, building & construction, food and beverages, household, industrial & institutional (HI & I), etc., is anticipated to drive growth of the North America specialty solvents market over the forecast period. The growth of the pharmaceuticals industry and increasing demand for these chemicals from the electronics and IT industry are factors that are expected to further push their demand in the North America market. Due to rising demand from various industries, the overall North America specialty solvent market is expected to increase at a CAGR higher than that of the average economy growth of the region.
However, factors such as distribution channel and supply chain infringement, decreasing profit margins, etc. are some of the major challenges expected to be faced by market players in the North America specialty solvents market during the forecast period.
The overall North America specialty solvents market is segmented on the basis of product type, end-use, and country.
The section - market analysis, by product type, comprehensively analyzes the market on the basis of product type and presents an in-depth analysis of the market size in terms of value and volume for 2016-2022. In 2015, with more than one-third of total revenue share, the aromatic hydrocarbon segment dominated the North America specialty solvents market, followed by the alcohol and amine segments, respectively. The ether segment is anticipated to expand at the fastest CAGR of 6.0% over the forecast period in the North America specialty solvents market in terms of revenue, followed by the fatty chemicals segment.
The section - market analysis, by end-use, analyzes the North America specialty solvent market on the basis of end-uses of these chemicals across various industries and the data is provided both in terms of value and volume for 2016-2022. The electronics and IT segment is expected to expand at the highest CAGR of 7.2% in terms of value during the forecast period. In terms of market share, the household, industrial, and institutional (HI & I) segment accounted for more than one third revenue share of the overall market in 2015 and is expected to dominate the North America market throughout the forecast years.
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The section - market analysis, by country, includes an in-depth country-level analysis of the U.S. and Canada market, by product type and end-use; and provides market data both in terms of value and volume for 2016-2022. In 2015, the U.S. dominated the overall North America specialty solvent market, accounting for more than 90% share. The U.S. market is also expected to expand at a marginally higher CAGR than that of the Canada over the forecast period.
Key players reported in this study on the North America specialty solvents market include BASF SE, Bayer Group, Akzonobel N.V., The Dow Chemical Company, LyondellBasell Industries Holdings B.V., E.I. duPont de Nemours and Company, Mitsui Chemicals, Braskem SA, PPG Industries, and Eastman Chemical Company.
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