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Solvents Market

Publisher Fortune Business Insights Pvt. Ltd.
Published Oct 01, 2024
Length 250 Pages
SKU # FOB19224326

Description

Solvents Market



Growth Factors of Solvents Market

The solvents market size was reached at a value of USD 49.42 billion in 2023, and the market is now projected to grow from USD 52.65 billion in 2024 to USD 87.41 billion by 2032, exhibiting a CAGR of 6.0% during the forecast period of 2023-2032.

Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the solvents market growth. Due to lack of professional staff and huge number of covid cases, the preference shifted to treating covid patients as priority over the other procedures which led the market growth.

Growing need from the paint and coatings sector to accelerate the growth of the solvents market during forecast period. The increased demand from the paints & coatings sector is projected to fuel the market growth. Its cost-effectiveness, durability, and resistance to temperature make this product a top pick in the paint and coatings sector. Paints are heavily utilized to prevent globs or clumps and to give the required consistency in various applications. Furthermore, the adoption of paints and coatings will be aided by the growing demand for paints brought on by the building industry's explosive growth and the rapidly developing infrastructure in nations like China, India, and the US.

Rising demand for bio-based products over chemical-based products to fuel solvents market growth. Growing consumer preference for bio-solvents over chemical-based ones is one factor driving the market's expansion. Because they are organic, alcohols and glycol ethers are becoming increasingly popular. Cellulose, sugars, oils and fats, and agricultural products are the primary materials used in their creation. They also have non-toxic, carbon-neutral, and environmentally beneficial qualities. In addition, variables like increased pollution, rising VOC emissions, and stricter government regulations are creating potential prospects for bio-based goods. Many manufacturers are now compelled to produce bio-based products instead of chemical-based ones due to these concerns. Hence, the rising desire for bioproducts will flourish the market expansion in the following few of years.

Comprehensive Analysis of Solvents Market

The solvents market and healthcare industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessments considering the dominant supply and demand forces that impact the pharmacy benefit management industry. These segmentations are methodically segregated by product type and by application. The product type segmentations include, Alcohols, Ketones, Esters, and Others, by Application segmentations Paints & Coatings, Printing Inks, Industrial Cleaning, Adhesives, and others.

The Asia Pacific region lead the solvents market by benefitting a market size of USD 20.07 billion in 2023 due to growing infrastructural development, growing paint and coatings industry demand, and innovation in bio-based product development.

The key industry players in the market play a crucial role in the healthcare industry assuring industrial prospectus growth and setting market standards. These prominent market players include, Royal Dutch Shell Plc (The Netherlands), Eastman Chemical Company (U.S.), LyondellBasell Industries Holdings B.V. (The Netherlands), Ashland Global Holdings Inc. (U.S.), BASF SE (Germany), ExxonMobil Corporation (U.S.), Celanese Corporation (U.S.), Honeywell International Inc. (U.S.), INEOS Group AG (U.K.) and Gandhar Oil (India) these market players provide a level-playing competitive environment.

In April 2019, Braskem unveiled a novel solvent named as HE-70S, largely renewable and best suited for use in the furniture, footwear, and ceramic sectors fuel the market growth.

Segmentation Table

ATTRIBUTE DETAILS

Study Period 2019-2032

Base Year 2023

Estimated Year 2024

Forecast Period 2024-2032

Historical Period 2019-2022

Growth Rate CAGR of 6.0% from 2024 to 2032

Unit Value (USD Billion); Volume (Million Ton)

Segmentation By Product Type
  • Alcohols
  • Ketones
  • Esters
  • Others
By Application
  • Paints & Coatings
  • Printing Inks
  • Industrial Cleaning
  • Adhesives
  • Others
By Geography
  • North America (By Application, By Country)
  • U.S. (By Application)
  • Canada (By Application)
  • Mexico (By Application)
  • Europe (By Application, By Country)
  • Germany (By Application)
  • France (By Application)
  • U.K. (By Application)
  • Italy (By Application)
  • Spain (By Application)
  • Rest of Europe (By Application)
  • Asia Pacific (By Application, By Country)
  • China (By Application)
  • India (By Application)
  • Japan (By Application)
  • Southeast Asia (By Application)
  • Rest of Asia Pacific (By Application)
  • South America (By Application, By Country)
  • Brazil (By Application)
  • Argentina (By Application)
  • Rest of Latin America (By Application)
  • Middle East & Africa (By Application, By Country)
  • South Arabia (By Application)
  • UAE (By Application)
  • Rest of the Middle East & Africa (By Application)


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Table of Contents

250 Pages
1. Introduction
1.1. Research Scope
1.2. Market Segmentation
1.3. Research Methodology
1.4. Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
3.1. Market Drivers
3.2. Market Restraints
3.3. Market Opportunities
4. Key Insights
4.1. Key Emerging Trends – For Major Countries
4.2. Key Developments: Capacity Expansions, Acquisitions, Partnerships, etc.
4.3. Latest Technological Advancement
4.4. Insights on Sustainability
4.5. Porters Five Forces Analysis
4.6. Impact of COVID-19 on the Market
5. Global Solvents Market Analysis, Insights and Forecast, 2019-2032
5.1. Key Findings / Summary
5.2. By Product Type (Value and Volume)
5.2.1. Alcohols
5.2.2. Ketones
5.2.3. Esters
5.2.4. Others
5.3. By Application (Value and Volume)
5.3.1. Paints & Coatings
5.3.2. Printing Inks
5.3.3. Industrial Cleaning
5.3.4. Adhesives
5.3.5. Others
5.4. By Region (Value and Volume)
5.4.1. North America
5.4.2. Europe
5.4.3. Asia Pacific
5.4.4. South America
5.4.5. Middle East & Africa
6. North America Solvents Market Analysis, Insights and Forecast, 2019-2032
6.1. Key Findings / Summary
6.2. By Product Type (Value and Volume)
6.2.1. Alcohols
6.2.2. Ketones
6.2.3. Esters
6.2.4. Others
6.3. By Application (Value and Volume)
6.3.1. Paints & Coatings
6.3.2. Printing Inks
6.3.3. Industrial Cleaning
6.3.4. Adhesives
6.3.5. Others
6.4. By Country (Value and Volume)
6.4.1. U.S
6.4.1.1. By Application (Value and Volume)
6.4.1.1.1. Paints & Coatings
6.4.1.1.2. Printing Inks
6.4.1.1.3. Industrial Cleaning
6.4.1.1.4. Adhesives
6.4.1.1.5. Others
6.4.2. Canada
6.4.2.1. By Application (Value and Volume)
6.4.2.1.1. Paints & Coatings
6.4.2.1.2. Printing Inks
6.4.2.1.3. Industrial Cleaning
6.4.2.1.4. Adhesives
6.4.2.1.5. Others
6.4.3. Mexico
6.4.3.1. By Application (Value and Volume)
6.4.3.1.1. Paints & Coatings
6.4.3.1.2. Printing Inks
6.4.3.1.3. Industrial Cleaning
6.4.3.1.4. Adhesives
6.4.3.1.5. Others
7. Europe Solvents Market Analysis, Insights and Forecast, 2019-2032
7.1. Key Findings / Summary
7.2. By Product Type (Value and Volume)
7.2.1. Alcohols
7.2.2. Ketones
7.2.3. Esters
7.2.4. Others
7.3. By Application (Value and Volume)
7.3.1. Paints & Coatings
7.3.2. Printing Inks
7.3.3. Industrial Cleaning
7.3.4. Adhesives
7.3.5. Others
7.4. By Country (Value and Volume)
7.4.1. Germany
7.4.1.1. By Application (Value and Volume)
7.4.1.1.1. Paints & Coatings
7.4.1.1.2. Printing Inks
7.4.1.1.3. Industrial Cleaning
7.4.1.1.4. Adhesives
7.4.1.1.5. Others
7.4.2. U.K.
7.4.2.1. By Application (Value and Volume)
7.4.2.1.1. Paints & Coatings
7.4.2.1.2. Printing Inks
7.4.2.1.3. Industrial Cleaning
7.4.2.1.4. Adhesives
7.4.2.1.5. Others
7.4.3. France
7.4.3.1. By Application (Value and Volume)
7.4.3.1.1. Paints & Coatings
7.4.3.1.2. Printing Inks
7.4.3.1.3. Industrial Cleaning
7.4.3.1.4. Adhesives
7.4.3.1.5. Others
7.4.4. Italy
7.4.4.1. By Application (Value and Volume)
7.4.4.1.1. Paints & Coatings
7.4.4.1.2. Printing Inks
7.4.4.1.3. Industrial Cleaning
7.4.4.1.4. Adhesives
7.4.4.1.5. Others
7.4.5. Spain
7.4.5.1. By Application (Value and Volume)
7.4.5.1.1. Paints & Coatings
7.4.5.1.2. Printing Inks
7.4.5.1.3. Industrial Cleaning
7.4.5.1.4. Adhesives
7.4.5.1.5. Others
7.4.6. Rest of Europe
7.4.6.1. By Application (Value and Volume)
7.4.6.1.1. Paints & Coatings
7.4.6.1.2. Printing Inks
7.4.6.1.3. Industrial Cleaning
7.4.6.1.4. Adhesives
7.4.6.1.5. Others
8. Asia-Pacific Solvents Market Analysis, Insights and Forecast, 2019-2032
8.1. Key Findings / Summary
8.2. By Product Type (Value and Volume)
8.2.1. Alcohols
8.2.2. Ketones
8.2.3. Esters
8.2.4. Others
8.3. By Application (Value and Volume)
8.3.1. Paints & Coatings
8.3.2. Printing Inks
8.3.3. Industrial Cleaning
8.3.4. Adhesives
8.3.5. Others
8.4. By Country (Value and Volume)
8.4.1. China
8.4.1.1. By Application (Value and Volume)
8.4.1.1.1. Paints & Coatings
8.4.1.1.2. Printing Inks
8.4.1.1.3. Industrial Cleaning
8.4.1.1.4. Adhesives
8.4.1.1.5. Others
8.4.2. India
8.4.2.1. By Application (Value and Volume)
8.4.2.1.1. Paints & Coatings
8.4.2.1.2. Printing Inks
8.4.2.1.3. Industrial Cleaning
8.4.2.1.4. Adhesives
8.4.2.1.5. Others
8.4.3. Japan
8.4.3.1. By Application (Value and Volume)
8.4.3.1.1. Paints & Coatings
8.4.3.1.2. Printing Inks
8.4.3.1.3. Industrial Cleaning
8.4.3.1.4. Adhesives
8.4.3.1.5. Others
8.4.4. Southeast Asia
8.4.4.1. By Application (Value and Volume)
8.4.4.1.1. Paints & Coatings
8.4.4.1.2. Printing Inks
8.4.4.1.3. Industrial Cleaning
8.4.4.1.4. Adhesives
8.4.4.1.5. Others
8.4.5. Rest of Asia Pacific
8.4.5.1. By Application (Value and Volume)
8.4.5.1.1. Paints & Coatings
8.4.5.1.2. Printing Inks
8.4.5.1.3. Industrial Cleaning
8.4.5.1.4. Adhesives
8.4.5.1.5. Others
9. South America Solvents Market Analysis, Insights and Forecast, 2019-2032
9.1. Key Findings / Summary
9.2. By Product Type (Value and Volume)
9.2.1. Alcohols
9.2.2. Ketones
9.2.3. Esters
9.2.4. Others
9.3. By Application (Value and Volume)
9.3.1. Paints & Coatings
9.3.2. Printing Inks
9.3.3. Industrial Cleaning
9.3.4. Adhesives
9.3.5. Others
9.4. By Country (Value and Volume)
9.4.1. Brazil
9.4.1.1. By Application (Value and Volume)
9.4.1.1.1. Paints & Coatings
9.4.1.1.2. Printing Inks
9.4.1.1.3. Industrial Cleaning
9.4.1.1.4. Adhesives
9.4.1.1.5. Others
9.4.2. Argentina
9.4.2.1. By Application (Value and Volume)
9.4.2.1.1. Paints & Coatings
9.4.2.1.2. Printing Inks
9.4.2.1.3. Industrial Cleaning
9.4.2.1.4. Adhesives
9.4.2.1.5. Others
9.4.3. Rest of South America
9.4.3.1. By Application (Value and Volume)
9.4.3.1.1. Paints & Coatings
9.4.3.1.2. Printing Inks
9.4.3.1.3. Industrial Cleaning
9.4.3.1.4. Adhesives
9.4.3.1.5. Others
10. Middle East & Africa Solvents Market Analysis, Insights and Forecast, 2019-2032
10.1. Key Findings / Summary
10.2. By Product Type (Value and Volume)
10.2.1. Alcohols
10.2.2. Ketones
10.2.3. Esters
10.2.4. Others
10.3. By Application (Value and Volume)
10.3.1. Paints & Coatings
10.3.2. Printing Inks
10.3.3. Industrial Cleaning
10.3.4. Adhesives
10.3.5. Others
10.4. By Country (Value and Volume)
10.4.1. Saudi Arabia
10.4.1.1. By Application (Value and Volume)
10.4.1.1.1. Paints & Coatings
10.4.1.1.2. Printing Inks
10.4.1.1.3. Industrial Cleaning
10.4.1.1.4. Adhesives
10.4.1.1.5. Others
10.4.2. UAE
10.4.2.1. By Application (Value and Volume)
10.4.2.1.1. Paints & Coatings
10.4.2.1.2. Printing Inks
10.4.2.1.3. Industrial Cleaning
10.4.2.1.4. Adhesives
10.4.2.1.5. Others
10.4.3. Rest of Middle East & Africa
10.4.3.1. By Application (Value and Volume)
10.4.3.1.1. Paints & Coatings
10.4.3.1.2. Printing Inks
10.4.3.1.3. Industrial Cleaning
10.4.3.1.4. Adhesives
10.4.3.1.5. Others
11. Competitive Landscape
11.1. Market Share Analysis, By Key Companies
11.2. Company Profiles
11.2.1. Royal Dutch Shell Plc
11.2.1.1. Overview
11.2.1.2. Description
11.2.1.3. Product Portfolio
11.2.1.4. Financials (Data as available in public domain and/or on paid databases)
11.2.1.5. Recent Developments
11.2.2. Eastman Chemical Company
11.2.2.1. Overview
11.2.2.2. Description
11.2.2.3. Product Portfolio
11.2.2.4. Financials (Data as available in public domain and/or on paid databases)
11.2.2.5. Recent Developments
11.2.3. LyondellBasell Industries Holdings B.V.
11.2.3.1. Overview
11.2.3.2. Description
11.2.3.3. Product Portfolio
11.2.3.4. Financials (Data as available in public domain and/or on paid databases)
11.2.3.5. Recent Developments
11.2.4. Ashland Global Holdings Inc.
11.2.4.1. Overview
11.2.4.2. Description
11.2.4.3. Product Portfolio
11.2.4.4. Financials (Data as available in public domain and/or on paid databases)
11.2.4.5. Recent Developments
11.2.5. BASF SE
11.2.5.1. Overview
11.2.5.2. Description
11.2.5.3. Product Portfolio
11.2.5.4. Financials (Data as available in public domain and/or on paid databases)
11.2.5.5. Recent Developments
11.2.6. ExxonMobil Corporation
11.2.6.1. Overview
11.2.6.2. Description
11.2.6.3. Product Portfolio
11.2.6.4. Financials (Data as available in public domain and/or on paid databases)
11.2.6.5. Recent Developments
11.2.7. Celanese Corporation
11.2.7.1. Overview
11.2.7.2. Description
11.2.7.3. Product Portfolio
11.2.7.4. Financials (Data as available in public domain and/or on paid databases)
11.2.7.5. Recent Developments
11.2.8. Honeywell International Inc.
11.2.8.1. Overview
11.2.8.2. Description
11.2.8.3. Product Portfolio
11.2.8.4. Financials (Data as available in public domain and/or on paid databases)
11.2.8.5. Recent Developments
11.2.9. INEOS Group AG
11.2.9.1. Overview
11.2.9.2. Description
11.2.9.3. Product Portfolio
11.2.9.4. Financials (Data as available in public domain and/or on paid databases)
11.2.9.5. Recent Developments
11.2.10. Gandhar Oil
11.2.10.1. Overview
11.2.10.2. Description
11.2.10.3. Product Portfolio
11.2.10.4. Financials (Data as available in public domain and/or on paid databases)
11.2.10.5. Recent Developments
12. Strategic Recommendations

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