International. The report indicates that the global aromatic solvents market is likely to reach US$7.76 billion by 2023, up from a market value of US$6.18 billion in 2014. Overall, the market is expanding at a CAGR of 4.2% between 2015 and 2023.
Increasing consumption of aromatic solvents in the paints and coatings industry is expected to drive the global aromatic solvents market through 2020. In 2014, the demand for paints and coatings was extremely high in many regions. This segment accounted for more than 50% of the global market by volume of aromatic solvents.
Adhesives and sealants are one of the main applications of aromatic solvents. While these solvents help maintain the best adhesive evaporation range, they also maintain the optimal configuration of the adhesive polymers on the base surfaces.
