Oxygenated Solvents Market by Source (Conventional and Bio & Green), Type (Alcohols, Esters, Glycols, Glycol Ethers, Ketones), Application (Paints & Coatings, Pharmaceuticals, Cleaners, and Crop Protection), Region - Global Forecast to 2022
“The oxygenated solvents market is projected to grow at a CAGR of 7.8% from 2017 to 2022.”
The oxygenated solvents market is estimated to grow from USD 22.28 billion in 2017 to USD 32.27 billion by 2022, at a CAGR of 7.8%. The increased demand for oxygenated solvents for the paints & coatings, pharmaceuticals, personal care, lubricants, and crop protection applications is expected to drive the growth of the oxygenated solvents market across the globe. Improved properties offered by oxygenated solvents, which include low-toxicity and high solvency power contribute to the increased demand for these oxygenated solvents. However, regulations over the VOC emissions restrain the growth of the oxygenated solvents market during the forecast period.
“The crop protection application segment is projected at the highest CAGR during the forecast period from 2017 to 2022.”
The crop protection application segment is projected to grow at the highest CAGR during the forecast period, in terms of value. The use of oxygenated solvents in the crop protection products such as herbicide and insecticides helps in distribution of these products when sprayed on agricultural lands. The growth of this segment can be attributed to the increased usage of crop protection products due to increasing cultivable land globally.
“The conventional oxygenated solvent segment is estimated to be the largest market between 2017 and 2022.”
The conventional oxygenated solvents segment is estimated to dominate the oxygenated solvents market between 2017 and 2022. The growth of this segment can be attributed to the relatively low cost of solvents in comparison to bio & green based solvents and lack of regulation in emerging economies such as India and Indonesia.
“The Asia Pacific oxygenated solvents market is projected to grow at the highest CAGR during the forecast period from 2017 to 2022.”
The Asia-Pacific oxygenated solvents market is projected to grow at the highest CAGR between 2017 and 2022. The growth is attributed to the growth of the paints & coatings, agricultural, and pharmaceutical industries that has resulted in various manufacturers to make significant investments in the region. Increasing urbanization and continuously growing population are expected increase the demand for oxygenated solvents in the region. This, in turn, is expected to contribute toward the growth of the Asia-Pacific oxygenated solvents market during the forecast period.
Extensive primary interviews have been conducted to determine and verify the market size for several segments and subsegments.
The break-up of primary interviews has been given below.
• By Company Type: Tier 1 – 50%, Tier 2 – 37%, and Tier 3 – 13%
• By Designation: C Level – 46%, Director Level – 31%, and Others – 23%
• By Region: North America – 33%, Europe – 28%, Asia Pacific – 22%, South America– 11%, and Middle East & Africa – 6%
The companies profiled in this market research report are BASF (Germany), The Dow Chemical Company (U.S.), OXEA (Germany), Royal Dutch Shell (Netherlands), ExxonMobil (U.S.), LyondellBasell (Netherlands), Eastman Chemical Company (U.S.), SINOPEC (China), and Petronas (Malaysia).
This research report has categorized the oxygenated solvents market on the basis of source, type, application, and region. It includes detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the oxygenated solvents market. A detailed analysis of the key players has been done to provide insights on their business overviews, products & services offered, and key strategies, such as investments & expansions, and mergers & acquisitions adopted by them to strengthen their position in the oxygenated solvents market.
Reasons to buy the report:
The report is expected to help market leaders/new entrants in this market in the following ways:
1. This report comprehensively segments the oxygenated solvents market and provides the closest approximations of the market sizes for the overall market and its sub-segments across different regions.
2. The report is expected to help the stakeholders understand the pulse of the market and provide them information on the key market drivers, restraints, challenges, and opportunities.
3. This report is also expected to help the stakeholders understand major competitors in the market and gain insights to enhance their competitive positions in the market. The competitive landscape section includes major industry players from different regions, contributing to the market. The landscape consists of the top 25 companies ranked and grouped, on the basis of their competency parameters, such as geographical presence, recent strategic developments, patents filed, and number of employees.
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