Global Solvents Market to Reach $29 Billion by 2018
The global solvents market is predicted to reach a market value worth $29.28 billion by the end of 2018, experiencing growth at an annual average CAGR of 3.2% during the forecast period ranging from 2012 to 2018, according to a new report from Transparency Market Research. The demand for this market in terms of volume is estimated to reach an estimated value of 21,530.8 kilo tons by 2018, showing growth at the rate of CAGR of 3.2% during the forecast period. This market was valued at approximately $22.79 billion in 2011.
According to the report, the global market for industrial solvents is expected to earn market value worth about $29.28 billion by 2018. This will reportedly result from an average annual growth of 3.2% during the forecast period. The report estimates that the dynamic growth in the construction and automobile industries in emerging economies like India, China, Russia and Brazil will especially continue to increase the global demand for solvents.