Halogenated Solvents Market: Overview
- Halogenated solvents are a large class of substances defined as aliphatic compounds containing at least one halogen atom. Halogenated solvents is a chemical compound or mixture that includes halogen atoms such as fluorine, chlorine, bromine, or iodine. Halogenated solvents are used in apparel and footwear production.
- Decomposition of halogenated solvents involves three types of processes: oxidation, hydrolysis, and pyrolysis. Halogenated organic solvents can have detrimental effects on the environment and human health.
- Chlorinated solvents are mostly used in dry cleaning, metal cleaning, degreasing, automotive aerosols, printing, paper and textile industries, paint removal, furniture industry, and others.
- Fluorocarbon solvents are widely used as refrigerants. Brominated solvents are used as additives in leaded gasoline, soil sterilants, and for the manufacture of pesticides and fumigants. Iodinated solvents are used as intermediates for numerous chemicals, dyes, fumigants, X-ray contrast media, antiseptics, insecticides, quaternary ammonium compounds, flavors and fragrances, and pharmaceuticals. They are also used in microscopy and testing for pyridine.
Is something restraining your company’s growth in the Halogenated Solvents Market? Ask for the report brochure here
Key Drivers of Halogenated Solvents Market
- Halogenated solvents are gaining popularity due to their irreplaceability and cost-efficiency. Increase in construction and manufacturing activities in developing economies such as China and India is expected to drive the halogenated solvents market during the forecast period.
- Growth in automotive OEM, machinery, and appliances industries and rise in building & construction activities are projected to drive the demand for global halogenated solvents
- Coatings and paints are widely used in the construction and manufacturing industries. This is expected to drive the demand for halogenated solvents in the end-use industry.
- Technological shift from analogue printing to higher value digital printing processes, a wider use of higher value inks in analogue processes is likely to propel the halogenated solvents market
- Improvement in economic conditions, rise in rate of urbanization, and increase in the level of education levels are boosting the printing ink industry. Thus, rise in demand for printing inks is anticipated to boost the halogenated solvents market.
High Cost of Technology Likely to Hamper Market
- Long term exposure to several halogenated solvents may give rise to the development of particular cancers. Halogenated solvents may cause critical damage to human health, especially via acute inhalation of high dosages. Halogenated solvents can be toxic to aquatic organisms. They may have a long-term adverse impact on the aquatic environment.
- Halogenated solvents possess a pungent odor that is known to be harmful for the workers. Halogenated solvents dissolve in small quantities of water, but the presence of water may be issue for producers and consumers of halogenated solvents
- Increase in environmental issues and volatile nature of prices of key raw materials are expected to remain key challenges for the halogenated solvents market
- Legislation around the world, including in the European Union, restricts the use of certain halogenated solvents. Therefore, leading apparel and footwear brands have banned the use of various halogenated solvents in the production of their products.
Asia Pacific Expected to Hold Large Share of Global Halogenated Solvents Market
- In terms of demand, North America dominated the global market in 2018. The market in North America is estimated to expand significantly during the forecast period due to rapid industrialization and advancements.
- Growth in industries in emerging economies, such China and India, owing to rising per capita disposable incomes, rapid urbanization, and growing demand for automobiles is projected to fuel the growth of the halogenated solvents market. High growth in pharmaceuticals, paints & coatings, and cosmetics industries is expected to drive the demand for halogenated solvents in Asia Pacific
- Expansion in end-use industries such as paints and coating and adhesives in countries such as China, India, Indonesia, Thailand, Vietnam, and South Korea is anticipated to boost the demand for halogenated solvents in the region during the forecast period
- Global demand for halogenated solvents has been continuously rising owing to the robust growth in the construction sector, particularly in emerging countries of Asia Pacific and Latin America
- Rapid expansion of the printing ink industry in countries such as India accompanied by strong demand from key end-user segments such as package printing, newsprint, publishing, and other commercial printing is driving the demand for printing inks, which in turn, is boosting the demand for halogenated solvents
- Increase in investments by major printing ink manufacturers in the Middle East is projected to drive the printing ink market during the forecast period. This, in turn, is propelling the halogenated solvents market in the region.
- The market in Middle East & Africa is projected to expand at a rapid pace during the forecast period. Increase in industrialization and rise in demand for solvents in end-use industries can be ascribed to the growth in demand for halogenated solvents in the region
- Presence of vast reserves of crude oil Middle East & Africa is driving the demand for solvents. In addition, the availability of cheaper raw materials in the region is expected to drive the halogenated solvents market.
Stuck in a neck-to-neck competition with other brands? Request a custom report on competition on Halogenated Solvents Market here
Key Players Operating in Halogenated Solvents Market
The halogenated solvents market is highly fragmented with top manufacturers accounting for approximately 45% to 50% share of the global market. Key players operating in the halogenated solvents market include
- LyondellBasell Industries Holdings B.V.
- Chalmette Refining
- Honeywell International Inc
- Huntsman International LLC.
- BASF SE
Global Halogenated Solvents Market: Research Scope
Global Halogenated Solvents Market, by Product
- Methylene Chloride
Global Halogenated Solvents Market, by End-use Industry
- Paint & Coatings
- Printing Inks
- Cosmetics & Toiletries
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.