Global Solvents Market Overview:
According to SPER Market Research, the Global Solvents Market is estimated to reach USD 48.22 billion by 2032 with a CAGR of 6.84%.
A solute can be dissolved by a solvent, which turns the solute into a solution. These are typically offered in liquid form, although they can also be solid or gaseous. They are divided into acetone, esters, toluene, methanol, ethanol, butanol, propylene glycols, glycol ethers, butyl glycol ethers, and hydrocarbons. These goods have the capacity to very finely disperse, absorb, and dilute other chemicals without chemically altering them. The market for products will be driven by the rising innovation and advancement in chemicals as well as the rising need for bio-based products because of the increasingly strict environmental restrictions. Additionally, the rapidly expanding paints and coatings sector will significantly contribute to increasing the expansion of the global market throughout the course of the forecast year.The market is growing as a result of the rising demand for bio-solvents over chemical-based ones. Due to their organic makeup, alcohols and glycol ethers are commonly used. They are mostly produced using agricultural goods, sugar, oils, and fats, as well as cellulose. They also have non-toxic, carbon-neutral, and environmentally friendly qualities. Additionally, factors including increased pollution, rising VOC emissions, and strict government regulations are giving bio-based businesses room to flourish. Due to these reasons, many manufacturers are now producing bio-based goods rather than chemical-based ones.
Impact of COVID-19 on the Global Solvents Market Due to the disruption in the global supply chain, the market for solvents is anticipated to suffer. As solvents are utilized in paint and coating applications in the construction, automotive, shipbuilding, and aircraft manufacturing industries, these industries' expansion has a significant impact on the market. The world's largest market for manufacturing and construction is China. Construction projects in China have been hampered by the strict lockdown in the major regions of the nation. Due in large part to the COVID-19 outbreak, the market for paints and coatings fell in the first quarter of this year, which also had an impact on solvent demand.One of the biggest producers and consumers of solvents is China. The nation's ability to produce solvents has been hampered by a lack of raw material supplies.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2019-2032 |
| Base year considered | 2021 |
| Forecast period | 2022-2032 |
| Segments covered | By Product Type, By Application |
| Regions covered | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Companies Covered | Ashland Global Holdings Inc., BASF SE Celanese Corporation, Eastman Chemical Company, Exxon Mobil Corporation Honeywell International Inc., Huntsman Corporation, INEOS Group AG Lyondell Basell Industries Holdings B.V., Royal Dutch Shell Plc.
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Global Solvents Market Segmentation:
By Product Type: Based on the Product Type, Global Solvents Market issegmented as; Alcohols (Methanol,Ethanol,Propanol,Butanol),Glycols (Ethylene Glycols, Propylene Glycols),Glycol Ether (E-Series Glycol Ethers, P-Series Glycol Ethers, Butyl Glycol Ethers), Ketones (Acetone, MEK, MIBK),Esters (Ethyl Acetate,Buty Acetate), Aliphatic Solvents, Aromatic Solvents (Toulene, Xylene, Ethyl Benzene, Methylene Chloride, Trichloroethylene, Perchloroethylene, Acetic Acid).
By Application: Based on the Application, Global Solvents Market is segmented as; Paints & Coating, Pharmaceuticals, Adhesives, Printing Inks, Metal Cleaning, Personal Care, Polymer Manufacturing, Agricultural Chemicals, Others.
By Region: The greatest producer and consumer of solvents worldwide is China. China is the world's largest market for manufacturing and construction. This is because the need for solvents in products for home care, personal care, and agricultural chemicals is rising.
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1 Research data source
2.1.1 Secondary data
2.1.2 Primary data
2.1.3 SPER’s internal database
2.1.4 Premium insight from KOL’s
2.2 Market size estimation
2.2.1 Top-down and Bottom-up approach
2.3 Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1 Drivers
4.1.2 Restraints
4.1.3 Opportunities
4.1.4 Challenges
4.2. COVID-19 Impacts of the Global Solvents Market
5. Market variables and outlook
5.1. SWOT analysis
5.1.1 Strengths
5.1.2 Weaknesses
5.1.3 Opportunities
5.1.4 Threats
5.2. PESTEL analysis
5.2.1 Political landscape
5.2.2 Economic landscape
5.2.3 Social landscape
5.2.4 Technological landscape
5.2.5 Environmental landscape
5.2.6 Legal landscape
5.3. PORTER’S five forces analysis
5.3.1 Bargaining power of suppliers
5.3.2 Bargaining power of Buyers
5.3.3 Threat of Substitute
5.3.4 Threat of new entrant
5.3.5 Competitive rivalry
5.4. Heat map analysis
6. Global Solvents Market, By Product Type, 2019-2032 (USD Million)
6.1 Alcohols
6.1.1 Methanol
6.1.2 Ethanol
6.1.3 Propanol
6.1.4 Butanol
6.2 Glycols
6.2.1 Ethylene Glycols
6.2.2 Propylene Glycols
6.3 Glycol Ether
6.3.1 E-Series Glycol Ethers
6.3.2 P-Series Glycol Ethers
6.3.3 Butyl Glycol Ethers
6.4 Ketones
6.4.1 Acetone
6.4.2 MEK
6.4.3 MIBK
6.5 Esters
6.5.1 Ethyl Acetate
6.5.2 Buty Acetate
6.6 Aliphatic Solvents
6.7 Aromatic Solvents
6.7.1 Toulene
6.7.2 Xylene
6.7.3 Ethyl Benzene
6.7.4 Methylene Chloride
6.7.5 Trichloroethylene
6.7.6 Perchloroethylene
6.7.7 Acetic Acid
7. Global Solvents Market, By Application, 2019-2032 (USD Million)
7.1 Paints & Coating
7.2 Pharmaceuticals
7.3 Adhesives
7.4 Printing Inks
7.5 Metal Cleaning
7.6 Personal Care
7.7 Polymer Manufacturing
7.8 Agricultural Chemicals
7.9 Others
8. Global solvents Market, By Region, 2019-2032 (USD Million)
8.1 North America
8.1.1 United States
8.1.2 Canada
8.1.3 Mexico
8.2 Europe
8.2.1 Germany
8.2.2 United Kingdom
8.2.3 France
8.2.4 Italy
8.2.5 Spain
8.2.6 Rest of Europe
8.3 Asia-Pacific
8.3.1 China
8.3.2 Japan
8.3.3 India
8.3.4 Australia
8.3.5 South Korea
8.3.6 Rest of Asia-Pacific
8.4 South America
8.4.1 Brazil
8.4.2 Argentina
8.4.3 Rest of South America
8.5 Middle East & Africa
8.5.1 Kingdom of Saudi Arabia
8.5.2 United Arab Emirates
8.5.3 Rest of Middle East & Africa
9. Company Profiles
9.1 Ashland Global Holdings Inc.
9.1.1 Company details
9.1.2 Financial outlook
9.1.3 Product summary
9.1.4 Recent developments
9.2 BASF SE
9.2.1 Company details
9.2.2 Financial outlook
9.2.3 Product summary
9.2.4 Recent developments
9.3 Celanse Corporation
9.3.1 Company details
9.3.2 Financial outlook
9.3.3 Product summary
9.3.4 Recent developments
9.4 Eastman Chemical Company
9.4.1 Company details
9.4.2 Financial outlook
9.4.3 Product summary
9.4.4 Recent developments
9.5 Exxon Mobil Corporation
9.5.1 Company details
9.5.2 Financial outlook
9.5.3 Product summary
9.5.4 Recent developments
9.6 Honeywell International Inc
9.6.1 Company details
9.6.2 Financial outlook
9.6.3 Product summary
9.6.4 Recent developments
9.7 Huntsman Corporation
9.7.1 Company details
9.7.2 Financial outlook
9.7.3 Product summary
9.7.4 Recent developments
9.8 INEOS Group AG
9.8.1 Company details
9.8.2 Financial outlook
9.8.3 Product summary
9.8.4 Recent developments
9.9 Lyondell Basell Industries Holdings B.V
9.9.1 Company details
9.9.2 Financial outlook
9.9.3 Product summary
9.9.4 Recent developments
9.10 Royal Dutch Sell Plc.
9.10.1 Company details
9.10.2 Financial outlook
9.10.3 Product summary
9.10.4 Recent developments
SPER Market Research’s methodology uses great emphasis on primary research to ensure that the market intelligence insights are up to date, reliable and accurate. Primary interviews are done with players involved in each phase of a supply chain to analyze the market forecasting. The secondary research method is used to help you fully understand how the future markets and the spending patterns look likes.
The report is based on in-depth qualitative and quantitative analysis of the Product Market. The quantitative analysis involves the application of various projection and sampling techniques. The qualitative analysis involves primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes are validated through experts opinion. Our research methodology entails an ideal mixture of primary and secondary initiatives.
