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USA demand for solvents is expected to increase at a 1.5%/yr pace through 2018 to 11bn lbs, driven by a robust recovery in construction spending along with a continued rebound in manufacturing output. Strength in both non residential and residential building construction will stimulate not only direct solvent use in construction related activities but also increased solvent demand in paint and coatings and other construction related materials.
Solvent use in a variety of manufacturing applications, most notably in chemical processing, will be supported in part by comparatively low natural gas prices that will help boost the competitiveness of USA manufacturers. These and other trends are presented in Solvents, a new study from The Freedonia Group, Inc, a Cleveland-based market research firm.
Steadily growing environmental concerns, as well as regulatory pressure, will drive demand for ‘green’ solvents that are derived from renewable materials and the paint and coatings market will replace the transportation market as the largest solvents consumer by 2018.