Solvent Market Report 2022 | Growth, Industry Trends and Forecast to 2027

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According to the global solvent market report by IMARC Group, the market reached a value of US$ 43.74 Billion in 2021, and it is projected 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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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.

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.

Solvent Companies:

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.

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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

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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