Europe Hydrocarbon Solvents market size is estimated at USD 2004.36 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.8% from 2024 to 2031.

The Europe Hydrocarbon Solvents Market size was valued at USD 1.45 billion in 2023 and is projected to reach USD 2.05 billion by 2032, exhibiting a CAGR of 5.1 % during the forecasts period. Europe hydrocarbon solvents market is an industry that comprises of chemicals that are produced from hydrocarbons that have a solvent nature and are utilized in diverse specifications in industries as well as the business sector. These solvents are used for their capacity to dissolve materials, thinners or extract materials and are used widely in paint,coating; adhesive and cleaning preparations. Some of the uses of hydrocarbon solvents are in automotive, construction products and manufacturing sectors, where it is used for degreasing, in paints and thinners and formulations of chemical products. Other trends are related to the biological solvents usage due to the legislative restrictions towards energy saving and the usage of dangerous reagents, the progressing development of solvent recycling methods, and concentration on the ecofriendly chemistry. Further, the market is operated by such factors as : the changes of raw material cost and the legislative alterations of solvents.

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Hydrocarbon Solvents Market Size 2024-2028

The hydrocarbon solvents market size is forecast to increase by USD 2.75 billion, at a CAGR of 5.24% between 2023 and 2028.

The market is driven by advancements in extraction and refining processes of hydrocarbons, enabling the production of high-performance solvents with improved efficiency and productivity. This technological progression is a significant growth factor, as it enhances the solvents' ability to meet the evolving demands of various industries, such as pharmaceuticals, agriculture, and coatings. Moreover, the rise of digitalization and automation in hydrocarbon solvent manufacturing is transforming the industry landscape. This trend is facilitating the integration of advanced technologies, including artificial intelligence, machine learning, and the Internet of Things, to optimize production processes, reduce costs, and enhance product quality. However, the market faces challenges, including the high manufacturing cost of green and bio-based solvents, which limits their widespread adoption.
Despite this, companies can capitalize on the growing demand for eco-friendly alternatives by investing in research and development to reduce production costs and improve the competitiveness of green hydrocarbon solvents. Additionally, strategic partnerships and collaborations with technology providers and raw material suppliers can help mitigate the challenges and position businesses for long-term success in the dynamic market.

What will be the Size of the Hydrocarbon Solvents Market during the forecast period?

Explore in-depth regional segment analysis with market size data - historical 2018-2022 and forecasts 2024-2028 - in the full report.
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The market showcases a dynamic and evolving landscape, driven by the diverse applications across various sectors. These solvents, including coating, industrial cleaning, printing, extraction, chemical synthesis, solvent blends, cleaning, ink, solvent purification, aliphatic, aromatic, and oxygenated varieties, play a pivotal role in numerous industries. In petroleum refining, hydrocarbon solvents are utilized for degreasing and chemical processing. Their low boiling points enable efficient separation and purification processes. In industrial cleaning applications, they serve as effective degreasers and surface preparation agents, ensuring material compatibility and adherence to regulatory compliance. The printing industry relies on hydrocarbon solvents for ink formulation, while pharmaceutical manufacturing leverages their properties for solvent purification and synthesis.

Precision cleaning applications demand solvents with specific flash points and surface tension properties. The petrochemical industry, aerospace, automotive, and consumer products sectors also utilize hydrocarbon solvents extensively. However, concerns over environmental impact, solvent degradation, and health and safety continue to shape market dynamics. Market participants focus on innovations such as solvent recycling, stabilizers, and additives to address these challenges. The ongoing unfolding of market activities underscores the importance of continuous research and development to meet evolving industry demands.

How is this Hydrocarbon Solvents Industry segmented?

The hydrocarbon solvents industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD million' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Aromatic
  Aliphatic
  Others


End-user

  Paints and coatings
  Adhesives
  Printing inks
  Others


Geography

  North America

    US


  Europe

    Germany
    UK


  APAC

    China
    India


  Rest of World (ROW)

By Type Insights

The aromatic segment is estimated to witness significant growth during the forecast period.

Aromatic hydrocarbon solvents, derived from petroleum refining and coal tar distillates, are essential feedstocks for various industries, including coating, industrial cleaning, printing, and chemical synthesis. Their unique properties, such as boiling point, vapor pressure, surface tension, and flash point, make them suitable for diverse applications. In the coating industry, aromatic solvents like xylene and toluene are used as solvents for paints and coatings due to their ability to dissolve resins and improve the flow and leveling of coatings. In industrial cleaning, they serve as degreasing agents for heavy-duty applications due to their high solvency power and low freezing points. Printing solvents, such as aromatic aliphatic blends, are used to clean printing plates and thin films, ensuring accurate and high-quality printing.

In chemical synthesis, aromatic hydrocarbons are used as building blocks for producing polymers, pharmaceuticals, and other chemicals. Solvent blends, which ar

The Hydrocarbon Solvents market is booming, reaching $33.59 billion in 2025 and projected to grow at a CAGR of 4.70% until 2033. Explore key drivers, trends, and restraints shaping this dynamic industry, including major players like ADM, Honeywell, and Solvay. Discover regional market shares and future growth potential. Key drivers for this market are: Surging Demand from the Paints & Coatings Sector, Stringent Regulations in Place to Minimize VOC Emissions; Other Drivers. Potential restraints include: High Manufacturing Costs and Performance Issues of Solvents, Detrimental Effects of Chemical Solvents. Notable trends are: Significant Demand from Construction and Automotive Industry.

Europe Electronic Cleaning Solvent Market size was USD 345.84million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.7% from 2024 to 2031.

The Isoparaffinic Hydrocarbon Solvents market is booming, projected to reach $7.95 billion by 2033 with a CAGR of 6%. Discover key trends, applications (lubricants, polymers, paints), leading companies, and regional insights in this comprehensive market analysis.

The Solvents Market Report Segments the Industry by Source (Bio-Based Solvents and Petrochemical-Based Solvents), Type (Oxygenated Solvents, Hydrocarbon Solvents, and Halogenated Solvents), Application (Paints and Coatings, Adhesives, Pharmaceuticals, Personal Care, Polymer Production, and Other Applications), and Geography (Asia-Pacific, North America, Europe, South America, and Middle East and Africa).

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Solvents Market Size 2024-2028

The solvents market size is forecast to increase by USD 9.6 billion at a CAGR of 5.24% between 2023 and 2028. The market in the beauty industry is experiencing significant growth, driven by technological advancements in the recovery and recycling processes of solvents. These innovations enable the efficient use of solvents, reducing waste and lowering production costs. Additionally, the adoption of IoT technology in oil and gas extraction processes is increasing the demand for solvents, particularly ketones, ester solvents, glycol ether esters, alcohols such as methanol and ethanol. However, the market is also facing challenges due to the fluctuation in crude oil prices, which can impact the cost of raw materials and, consequently, the price of finished solvent products. To remain competitive, market players are focusing on improving production efficiency and reducing costs through process optimization and the adoption of sustainable manufacturing practices.

What will the size of the market be during the forecast period?

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The market encompasses a wide range of chemicals used as carriers for various applications. These include paints, coatings, adhesives, nail polish removers, printing inks, varnishes, fragrances, detergent, and spot removers, among others. The market is significantly influenced by the petrochemical output and the demand from industries such as Construction, Shipbuilding, and Aircraft manufacturing. Paints and coatings are major consumers of solvents, with Carbon tetrachloride and Methyl chloride being commonly used. However, due to environmental concerns, there is a shift towards the use of less harmful solvents such as alcohols, hydrocarbons, ketones, and Perchloroethylene (PERC). The personal care industry also contributes significantly to the market, with alcohols, ethanol, and Methyl isobutyl ketone being commonly used in cosmetics and nail polish removers. The market is subject to regulations such as the Solvents Emission Directive, which aims to reduce the environmental impact of solvent usage. In addition to these industries, the market also caters to the needs of various end-users such as the printing industry, where acetone is commonly used as a solvent for printing inks. Overall, the market is expected to grow due to the increasing demand for various end-use applications and the ongoing shift towards the use of less harmful solvents.

Market Segmentation

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Alcohols
  Hydrocarbons
  Ketones
  Esters
  Others


End-user

  Paints and Coatings
  Pharmaceuticals
  Adhesives
  Printing Inks
  Others


Geography

  APAC

    China
    India
    Japan


  North America

    US


  Europe

    Germany
    UK


  South America



  Middle East and Africa

By Type Insights

The alcohols segment is estimated to witness significant growth during the forecast period. Alcohol solvents, such as n-butanol and isopropanol, hold significant importance in various industries due to their versatile applications. In surface coatings, they serve as crucial intermediates, enhancing the quality and durability of coatings used on glass and metals. The demand for these solvents is driven by the increasing use of advanced coatings in the automotive, aerospace, and construction industries. Moreover, in the chemical industry, alcohol solvents are extensively used as intermediates in the production of plastics and composites. Their ability to dissolve a wide range of polymers makes them indispensable in this sector. In pharmaceuticals, these solvents are utilized for drug formulation, extraction, and purification processes, underlining their significance in the healthcare sector.

In the cosmetics and personal care industry, alcohol solvents are employed for their excellent solubility and efficacy in formulations. They help in extracting fragrances and flavors, contributing to the production of high-quality consumer products. Furthermore, in the electronics industry, these solvents are utilized for cleaning and maintaining electronic components and devices, ensuring optimal performance and reliability. Overall, the demand for high-quality alcohol solvents continues to grow, driven by their extensive applications across various industries.

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The alcohols segment accounted for USD 10.40 billion in 2018 and showed a gradual increase during the forecast period.

Regional Insights

APAC is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shap

Discover the latest insights on the booming global aliphatic hydrocarbon solvents and thinners market. Explore key drivers, trends, and challenges shaping this $5 billion industry, projected to reach $7 billion by 2033. Learn about leading companies and regional market shares in our comprehensive analysis.

Discover the booming Isoparaffinic Hydrocarbon Solvents market! This in-depth analysis reveals a $2.5 billion market in 2025, projected to grow at a 5% CAGR through 2033. Explore key drivers, trends, and regional insights for lucrative investment opportunities in lubricants, polymers, and more.

Discover the booming aliphatic hydrocarbon solvents market! Explore key trends, drivers, and restraints shaping this $2364.4 million industry (2025) with a projected CAGR of 4-6%. Learn about leading companies and regional growth opportunities in this comprehensive market analysis.

According to Cognitive Market Research, the global Hydrocarbon Solvents market size is USD 6681.2 million in 2024 and will expand at a compound annual growth rate (CAGR) of 4.30% from 2024 to 2031.

North America holds the major market of more than 40% of the global revenue with a market size of USD 2672.48 million in 2024 and will grow at a compound annual growth rate (CAGR) of 2.5% from 2024 to 2031.
Europe accounts for a share of over 30% of the global market size of USD 2004.36 million.
Asia Pacific holds the market of around 23% of the global revenue with a market size of USD 1536.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.3% from 2024 to 2031.
Latin America holds more than 5% of the global revenue with a market size of USD 334.06 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
Middle East and Africa holds the major market of around 2% of the global revenue with a market size of USD 133.62 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031.
Aliphatic Type holds the highest Hydrocarbon Solvents market revenue share in 2024.

Market Dynamics of Hydrocarbon Solvents Market

Key Drivers for Hydrocarbon Solvents Market

Strong Demand from End-Use Industries to Increase the Demand Globally: Many different sectors have a significant demand for hydrocarbon solvents. They function as diluents and cleaning agents in paints and coatings, which are essential for the furniture, automobile, and construction industries. These solvents are necessary for manufacturing, packing, and building in the adhesive and sealant industry. They help in the extraction of active substances and the sterilization of surroundings in pharmaceuticals. They also support the energy industry by contributing to sustainable energy technology like solar panels and batteries. Hydrocarbon solvents are vital to many end-use industries because of their efficiency and low cost, which promotes growth and innovation.

Low Cost and Established Production Processes to Propel Market Growth: Since hydrocarbon solvents are less expensive than other solvents, they provide a clear cost-effectiveness benefit. Moreover, they have well-established production procedures that make use of easily obtainable raw materials. Hydrocarbon solvents are a solid and economical alternative for many sectors due to their affordability and well-established manufacturing processes. Paints, adhesives, medicines, and renewable energy technologies are just a few applications where businesses can depend on the reliable supply and cost-effectiveness of hydrocarbon solvents to fulfill their goals effectively and responsibly.

Restraint Factor for the Hydrocarbon Solvents Market

Health Concerns and Worker Safety to Limit the Sales: An increased emphasis on worker safety and occupational health is being driven by growing awareness of the health concerns connected with specific hydrocarbon solvents. Because these solvents can cause a number of health problems when inhaled or absorbed via the skin, regulatory authorities are thinking about enforcing harsher standards. As a result, enterprises are looking into less hazardous solvent substitutes more and more to allay health worries and guarantee a safer workplace. This move to safer alternatives is consistent with larger initiatives to improve workplace safety procedures and lessen environmental effect. Companies that put employee health and wellbeing first not only meet legal requirements but also raise workplace safety standards generally and promote a more sustainable sector of the economy.

Trends of the Hydrocarbon Solvents Market

Increasing Demand from the Paints, Coatings, and Adhesives Sector: Hydrocarbon solvents are extensively utilized in the production of paints, varnishes, and adhesives owing to their remarkable dissolving capabilities and rapid evaporation rates. As construction activities and industrial manufacturing expand globally—especially in the Asia-Pacific and Middle East regions—the demand for these end-use products is consistently rising. Consequently, this is propelling the utilization of hydrocarbon solvents such as toluene, xylene, and mineral spirits. Additionally, this trend is bolstered by the automotive and furniture sectors, which depend on solvent-based coatings for enhanced finish, durability, and ...

Discover the booming Aromatic Hydrocarbon Solvent market! This comprehensive analysis reveals a $50 billion market in 2025, growing at a CAGR of 4.5% until 2033, driven by pharmaceuticals, automotive, and oilfield chemical sectors. Explore regional insights, key players, and future trends.

Discover the booming market for high-purity dearomatized hydrocarbon solvents. Explore key growth drivers, regional trends, and leading companies shaping this $2.5 billion industry (2025 estimate), projected for significant expansion through 2033. Learn more about market segmentation and future prospects.

Discover the booming Isoparaffinic Hydrocarbon Solvents market, projected to reach $3.8B by 2033 with a 5% CAGR. This in-depth analysis explores market drivers, trends, restraints, and regional breakdowns, covering key players like ExxonMobil and Shell. Learn about segmentations by carbon chain length and application, and gain valuable insights into this lucrative sector.

The market is segmented by Aliphatic Hydrocarbon Solvent Type (Hexane, Heptane, Mineral Spirits, Gasoline and Others), by Application (Paints & Coatings, Rubber Manufacturing, Cleaning & Degreasing, Adhesives and Others) and Geography (Asia-Pacific, North America, Europe, South America, and Middle-East and Africa)

According to Cognitive Market Research, the global industrial solvents market size was USD 49514.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 7.00% from 2024 to 2031.

North America held the major market share for more than 40% of the global revenue with a market size of USD 19805.80 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Europe accounted for a market share of over 30% of the global revenue with a market size of USD 14854.35 million.
Asia Pacific held a market share of around 23% of the global revenue with a market size of USD 11388.34 million in 2024 and will grow at a compound annual growth rate (CAGR) of 9.0% from 2024 to 2031.
Latin America had a market share of more than 5% of the global revenue with a market size of USD 2475.73 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.4% from 2024 to 2031.
Middle East and Africa had a market share of around 2% of the global revenue and was estimated at a market size of USD 990.29 million in 2024 and will grow at a compound annual growth rate (CAGR) of 6.7% from 2024 to 2031.
The hydrocarbon solvents is the fastest growing segment of the industrial solvents industry

Market Dynamics of Industrial Solvents Market

Key Drivers for Industrial Solvents Market

Increasing demand for solvents in the paints and coatings industry to drive market growth

The increasing demand for solvents in the paints and coatings industry is a significant driver of market growth. Solvents are essential in formulating paints and coatings, as they help in dissolving other ingredients, ensuring proper consistency, and facilitating smooth application. With the rapid growth of the construction, automotive, and industrial sectors, the need for high-quality paints and coatings has risen, thereby boosting the demand for solvents. The global shift toward eco-friendly and low-VOC (volatile organic compound) solvents further supports this growth, as companies strive to meet stricter environmental regulations. Additionally, trends such as urbanization, infrastructure development, and the automotive industry’s focus on durable coatings are contributing to the expanding demand. The paints and coatings sector remains a primary consumer of industrial solvents, driving their consumption across multiple regions, particularly in North America and Europe.

Growing urbanization and industrialization globally to boost market growth

The growing trends of urbanization and industrialization globally are significantly boosting the demand for industrial solvents, driving market growth. As cities expand and industrial activities increase, the need for various products such as paints, coatings, adhesives, and cleaning agents, all of which require solvents, has surged. Urbanization leads to infrastructure development, including residential, commercial, and industrial buildings, thereby increasing the demand for construction materials and coatings. Simultaneously, industrialization, particularly in emerging economies like China and India, is driving the production of goods that require solvent-based processes, such as manufacturing and automotive production. This surge in industrial activities requires solvents for cleaning, thinning, and dissolving materials, further propelling their consumption. The continued global push for modernization and industrial growth will further fuel the demand for industrial solvents in multiple sectors, boosting the overall market.

Restraint Factor for the Industrial Solvents Market

Toxicity of certain solvents affecting workers' health to limit market growth

The toxicity of certain industrial solvents poses significant health risks to workers, which could limit market growth. Prolonged exposure to hazardous solvents, such as halogenated and hydrocarbon-based compounds, can lead to serious health issues, including respiratory problems, skin irritation, and even long-term organ damage. These health concerns have led to stricter occupational safety regulations globally, pushing industries to seek safer alternatives. While safer solvents, such as bio-based options, are gaining popularity, they often come at a higher cost or may not offer the same effectiveness as traditional solvents. This shift to safer, non-toxic alternatives can slow down market adoption and increase production costs. Furthermore, in regions with less stri...

Discover the booming Isoparffinic Hydrocarbon Solvents market, projected for significant growth through 2033. This comprehensive analysis covers market size, CAGR, key drivers, trends, restraints, segments (C8, C12, C16, etc.), major players (ExxonMobil, Shell, etc.), and regional breakdowns. Learn about lucrative investment opportunities in this vital chemical sector.

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Organic Solvents Market Size 2024-2028

The organic solvents market size is forecast to increase by USD 4.38 billion at a CAGR of 5.24% between 2023 and 2028.

Organic solvents are essential ingredients in various industries, including coatings, pharmaceuticals, and agriculture. The market is experiencing significant growth due to increasing demand for durable and high-performance coatings, paints and coatings, and textiles, all of which rely on these solvents for enhanced quality and performance. Additionally, the rise of digitalization and automation in organic solvent manufacturing is driving market expansion. However, the high manufacturing cost of green and bio-based organic solvents poses a challenge to market growth. Producers are investing in research and development to create cost-effective and eco-friendly alternatives. The market is expected to witness steady growth in the coming years, with a focus on sustainability and innovation. Organic solvents play a crucial role in enhancing product quality and efficiency across multiple industries, making them an indispensable component in the global chemical market.

What will be the Size of the Organic Solvents Market During the Forecast Period?

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The market encompasses the production and supply of various chemical compounds used as solvents in diverse industries. Key end-use sectors include pharmaceuticals, construction, and personal care, with solvents playing essential roles in processing technologies such as membrane systems for solvent dehydration and heat and pressure-driven reactions. Eco-friendly solvents, like Daxsol dimethyl carbonate, are gaining traction due to increasing emphasis on environmental sustainability.
Moreover, these solvents are integral to the production of specialty chemicals, materials, and solutes, with carbon-based solvents derived from living organisms and synthetic solvents made from carbon atoms being commonly used. Industries such as pharmaceuticals, cosmetics, and construction rely on these solvents for their unique properties in chemical reactions. Organic solvent suppliers cater to the needs of these sectors, offering a range of offerings from styrene and trichlorethylene to ethylene glycol ether.

How is this Organic Solvents Industry segmented and which is the largest segment?

The industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.

Type

  Aromatic hydrocarbons
  Aliphatic hydrocarbons
  Alcohols
  Ketones
  Others


End-user

  Paints and Coatings
  Pharmaceuticals
  Adhesives
  Printing Inks
  Others


Geography

  APAC

    China
    India
    Japan


  North America

    US


  Europe

    Germany
    UK


  South America



  Middle East and Africa

By Type Insights

The aromatic hydrocarbons segment is estimated to witness significant growth during the forecast period.

Organic solvents, including aromatic hydrocarbons like benzene, toluene, and xylene, are integral to the chemical industry as feedstocks for producing various chemicals and products. These solvents are used in the production of ethylbenzene, which is further processed into styrene for polystyrene and polyethylene terephthalate (PET), extensively utilized in packaging, automotive, and consumer goods. Aromatic hydrocarbons contribute to the production of high-octane fuels and fuel additives, with demand influenced by gasoline and diesel consumption. In the manufacturing sector, they are used for producing automotive parts, such as synthetic rubber for tires and plastic components. The pharmaceutical sector relies on these solvents for various applications, including solvent production, membrane systems, dehydrating organic solvents, and precision cleaning.

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The aromatic hydrocarbons segment was valued at USD 4.72 billion in 2018 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 38% to the growth of the global market during the forecast period.

Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.

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Organic solvents are essential ingredients in various industries across Asia Pacific (APAC), including automotive, electronics, chemicals, textiles, and construction. The region's industrial growth, driven by countries like China, India, Japan, and South Korea, fuels the demand for these solvents. Rapid urbanization and infrastructure development in APAC nations are increasing the usage of paints, coatings, and adhesives, which heavily rely on these solvent