The demand for solvents very much depends on the growth of the construction industry, and with many countries, especially emerging economies, undertaking major construction projects, the global solvent market is expected to experience steady growth over the next few years. According to analysts at Technavio, the market will grow at a CAGR of 4% by 2020. The market is divided into two product segments: organic and inorganic, with organic leading the market. With such a high dependency on economic growth and political climates, the competitive landscape for vendors is likely to change rapidly during the forecast period.
In this blog, we’ve identified the key and prominent vendors in the market.
Key vendors
BASF
BASF SE is the largest chemical producer in the world and is headquartered in Germany. The BASF Group comprises subsidiaries and joint ventures in more than 80 countries and operates six integrated production sites and 390 other production sites in Europe, Asia, Australia, Americas and Africa. The company’s broad portfolio ranges from chemicals, plastics, performance products and crop protection products to oil and gas. In 2015, BASF posted sales of €70 billion and income from operations before special items of approximately €6.7 billion.
Celanese
Celanese Corporation, also known as Hoechst Celanese, is a Fortune 500 global technology and specialty materials company headquartered in Texas. The company is a leading producer of acetyl products, which are intermediate chemicals for nearly all major industries, and is the world’s largest producer of vinyl acetate monomer (VAM). From its broad portfolio of Materials Solutions, Celanese advances automotive and consumer electronic designs and enable life-improving medical, food and beverage products.
Eastman Chemical Company
Eastman is a global specialty chemical company that produces a broad range of advanced materials, additives and functional products, specialty chemicals, and fibers that are found in products people use every day. As a world leader in the diverse markets it serves, Eastman is focused on delivering innovative and technology-based solutions while maintaining its commitment to safety and sustainability.
ExxonMobil
ExxonMobil is an American multinational oil and gas corporation headquartered in Texas. As the largest publicly traded international oil and gas company, Exxon uses technology and innovation to help meet the world’s growing energy needs. The company holds an industry-leading inventory of resources and is one of the world’s largest integrated refiners, marketers of petroleum products and chemical manufacturers.
Honeywell
Honeywell International, Inc. is an American multinational conglomerate company that produces a variety of commercial and consumer products, engineering services and aerospace systems. The company invents and manufactures technologies that address some of the world’s most critical challenges around energy, safety, security, productivity and global urbanization. Honeywell is a Fortune 100 company with approximately $40B in sales in 2015.
Huntsman
Huntsman is a global manufacturer and marketer of differentiated chemicals. Its operating companies manufacture products for a variety of global industries, including chemicals, plastics, automotive, aviation, textiles, footwear, paints and coatings, construction, technology, agriculture, health care, detergent, personal care, furniture, appliances and packaging. Originally known for pioneering innovations in packaging and, later, for rapid and integrated growth in petrochemicals, Huntsman has approximately 15,000 employees and operates from multiple locations worldwide. The company had 2015 revenues of over $10 billion.
Other prominent vendors
BioAmber
BioAmber Inc. is a sustainable chemicals company. Its proprietary technology platform combines industrial biotechnology and chemical catalysis to convert renewable feedstock into building block chemicals for use in a wide variety of everyday products including plastics, resins, food additives and personal care products. BioAmber is a Delaware corporation with a head office in Quebec, a research facility in Minnesota, and a commercial plant operating in Ontario.
Ineos
Ineos Group Limited is a privately owned multinational chemicals company headquartered in Switzerland. It is in the top ten chemicals manufacturing companies as measured by sales revenue. Ineos is organised into approximately 20 standalone business units.
LyondellBasell
LyondellBasell is one of the world’s largest plastics, chemical and refining companies and a member of the S&P 500. LyondellBasell manufactures products at 57 sites in 18 countries. LyondellBasell products and technologies are used to make items that improve the quality of life for people around the world including packaging, electronics, automotive parts, home furnishings, construction materials and biofuels.
Sasol
Sasol is an international integrated chemicals and energy company that leverages technologies and the expertise of its 30 400 people working in 36 countries. The company develops and commercialises technologies, and builds and operates world-scale facilities to produce a range of high-value product stream, including liquid fuels, chemicals and low-carbon electricity. Sasol was established in 1950 in South Africa and remains one of the country’s largest investors in capital projects, skills development and technological research and development.
Shell Chemicals
Shell Chemicals is one of the world’s leading chemicals suppliers. With a heritage of over 85 years and manufacturing facilities around the world, Shell supplies over 17 million tonnes of petrochemicals per year to large industrial customers. The parent company of the Shell group is Royal Dutch Shell plc, which is incorporated in England and Wales.
Solvay
Solvay S.A. is a Belgian chemical company founded in 1863, with its head office in Neder-Over-Heembeek, Brussels, Belgium. With its historical anchorage in Europe, its products serve diversified markets worldwide, from consumer goods to energy, with one main aim – to improve quality of life and customer performance.
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