Solvent Market Report Size, Share, Industry Growth, Opportunities, Analysis, Forecast 2022-2027
According to the latest report by IMARC Group, titled "Global Solvent Market Report Size, Share, Industry Trends, Growth, Opportunity and Forecast 2022-2027", the
global solvent market 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.
A
solvent is a heterogeneous group of structurally diverse chemicals that
can be used to dilute, dissolve, or disperse other compounds to form a
solution. It is usually a liquid, but can also be a solid, a gas, or
a supercritical fluid. Also available in organic variants, solvents are
extensively used as cleaning and degreasing agents and as key ingredients in
products such as printing inks, spot removers, varnishes, adhesives, cosmetics,
perfumes, detergents, paint thinners, and nail polish removers.
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Report
Metric |
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Historical:
2016-2021 |
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Base Year:
2021 |
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Forecast
Year: 2022-2027 |
Solvent Market
Trends and Drivers:
The market
is primarily driven by the increasing product applications in various end use
industries. In addition, solvents are extensively utilized in household
cleaning and personal care products, representing another growth-inducing
factor.
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Besides this,
due to the rising environmental concerns among individuals, several key players
are making huge investments and collaborating with the top biotechnology
companies to launch green and bio-based solvents. This, coupled with the
emerging solvent applications in chemical manufacturing processes, cooling
circuits, dry-cleaning, and deicers, is creating a positive market outlook
across the globe.
Moreover,
the implementation of stringent government regulations regarding the usage of
organic solvents is also contributing to the market growth. Furthermore, rapid
industrialization and urbanization, increasing research and development
(R&D) activities, and technological advancements are some of the other
factors anticipated to propel the market growth.
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.
Global Solvent
Market 2022-2027 Analysis and Segmentation:
Competitive
Landscape:
The
competitive landscape of the market has been studied in the report with the
detailed profiles of the key players operating in the market.
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:
· Alcohols
· Hydrocarbons
· Ketones
· Esters
· Chlorinated
· Others
Breakup by Source:
· Petrochemical-based
· Bio
and Green
Breakup by Application:
· Paints
and Coatings
· Printing
Inks
· Pharmaceuticals
· Cosmetics
and Adhesives
· Others
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
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latest primary and secondary data (2022-2027) with Cost Module, Business
Strategy, Distribution Channel, etc. Click request free sample report,
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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.
About Us:
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is a leading market research company that offers management strategy and market
research worldwide. We partner with clients in all sectors and regions to identify
their highest-value opportunities, address their most critical challenges, and
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IMARC’s
information products include major market, scientific, economic and
technological developments for business leaders in pharmaceutical, industrial,
and high technology organizations. Market forecasts and industry analysis for
biotechnology, advanced materials, pharmaceuticals, food and beverage, travel
and tourism, nanotechnology and novel processing methods are at the top of the
company’s expertise.
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