The global hydrocarbon solvents market was valued over US$ 6.2 Bn in 2019 and is anticipated to expand at a CAGR of 4% during the forecast period. Hydrocarbon solvents are used to dissolve oil. They are also employed in the formulation of various solutions and processes. They add value to paints & coatings, cosmetics, adhesives, and lubricants due to their high solvency rate.
Hydrocarbon Solvents Market: Introduction
The global hydrocarbon solvents market was valued over US$ 6.2 Bn in 2019 and is anticipated to expand at a CAGR of 4% during the forecast period. Hydrocarbon solvents are used to dissolve oil. They are also employed in the formulation of various solutions and processes. They add value to paints & coatings, cosmetics, adhesives, and lubricants due to their high solvency rate. Some hydrocarbon solvents are produced from natural resources such as sugarcane and vegetable oils. Their high rate of adoption is a key factor that increases the demand for bio-based paints, printing inks, and coatings.
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