Nov. 13, 2012
/PRNewswire/ -- Reportlinker.com announces that a new market research report is available in its catalogue:
US Solvents Market
US demand to rebound from recent lows
US solvent demand will continue to rebound from its recessionary lows, rising more than one percent per year in volume terms through 2016. Increased demand for "green" solvents, particularly in consumer oriented markets, will drive advances, along with a rebound in the construction market where solvent consumption will increase at the fastest pace. Alcohols and glycols, both of which can be sourced at least partially from renewable resources, will achieve the greatest gains, while other green solvents such as butanediol, terpenes, and esters will rise at an even faster pace. While the solvent industry will experience healthy advances through 2016, even stronger growth will be limited by the ongoing shift away from oil-based paint, and industry efforts to reduce solvent consumption. Consequently, total solvent demand will not surpass the levels achieved in 2006 until after 2016.
Rising demand for green products to continue affecting solvent industry
A long term rise in consumer demand for environmentally friendly products is having a profound effect on the solvent industry as cleaning product and cosmetic and toiletry manufacturers increasingly introduce new or reformulated products that can be marketed as green because they use chemicals and/or solvents derived from renewable (green) resources. Improved public perception and government regulations are also driving the shift, both at the state and federal levels. In particular, the need to meet stricter VOC regulations has benefited demand for glycol solvents in the paint and coatings market, where they offer formulators excellent options to reduce VOC content. In the pharmaceuticals market, the need to meet stringent FDA and EPA regulations has prompted greater demand for alcohols -- in particular, ethanol. Chemical processors also looking to comply with VOC regulations are increasingly turning toward butanediol and its derivatives to lower VOC content while using solvents.