According to the latest report by IMARC Group, titled “Solvent Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, offers a comprehensive analysis of the industry, which comprises insights on the global solvent market. The report also includes competitor and regional analysis, and contemporary advancements in the market.
Solvent Market Overview:
The global solvent market size reached a value of US$ 43.74 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 57.95 Billion by 2027 exhibiting a CAGR of 4.50% during 2022-2027.
Solvents are chemical substances that can disperse, dissolve, or extract other materials to form a solution without changing them. They generally have an unpleasant odor and are highly flammable and volatile, except for the chlorinated variants. Solvents are commonly available in the form of liquids, solids, and gases and are obtainable in conventional and organic types. They find extensive applications as cleaning and degreasing agents in various items, such as varnishes, adhesives, cosmetics, spot removers, printing inks, perfumes, detergents, paint thinners, nail polish removers, etc.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Solvent Market Trends and Drivers:
The escalating product requirement in paints and coatings to provide consistency and dissolve colors and in pharmaceutical drug manufacturing processes is among the primary factors driving the solvent market.
Besides this, the elevating need for these substances in household cleaning and personal care items is further augmenting the market growth. Apart from this, the launch of green and bio-based solvents by the leading manufacturers in collaboration with top biotechnology companies is also catalyzing the global market.
Moreover, rapid urbanization and industrialization, research and development (R&D) activities, and continuous technological advancements are acting as significant growth-inducing factors. Furthermore, the growing product popularity in chemical manufacturing processes, cooling circuits, dry-cleaning, and deicers is expected to bolster the solvent market in the coming years.
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Global Solvent Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Archer-Daniels-Midland Company
- Ashland Inc.
- BASF SE
- Bharat Petroleum Corporation Limited
- bp p.l.c.
- Celanese Corporation
- Dow Inc.
- Eastman Chemical Company
- Exxon Mobil Corporation
- Honeywell International Inc.
- Huntsman Corporation
- LyondellBasell Industries N.V.
- Royal Dutch Shell plc
- Sasol Limited and Solvay S.A
The report has segmented the market on the basis of region, product, source and application.
Breakup by Product:
Breakup by Source:
- Bio and Green
Market Breakup by Application:
- Paints and Coatings
- Printing Inks
- Cosmetics and Adhesives
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
If you want latest primary and secondary data (2022-2027) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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