The global solvents market is projected to grow at a formidable rate during the forecast period, 2023-2027. The market growth can be attributed to the increasing demand for solvents in various end-use applications such as adhesives, rubber & polymer, personal care, paints & coatings, agricultural chemicals, printing inks, metal cleaning, pharmaceuticals, and others.
The Important Elements of the Global Solvents Market
increasing demand for bio-solvents over chemical-based ones, owing to increasing VOC emissions, rising pollution, and stringent government regulations are some of the factors fuelling the market growth. Additionally, the growing need for high-purity organic solvents as raw materials across the pharmaceuticals and electronics industry is some of the factors propelling the growth of the global solvents market.
Moreover, leading solvent producers are collaborating with top biotechnology firms for research and development activities to create green solvents and attain sustainability. Furthermore, the introduction of Gas-to-Liquids (GTL) technology by the market players and increasing demand for esters to remove organic solutes from aqueous solutions are some of the factors contributing to the growth of the global solvents market during the forecast period.
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The global solvents market is segmented on the basis of type, application, and region. Based on application, the market has been categorized into paints & coatings, adhesives, agricultural chemicals, pharmaceuticals, personal care, rubber & polymer, printing inks, and others. The agricultural chemicals segment is projected to be the fastest-growing application of solvents, owing to rapid growth in population, and increasing demand for food products. APAC region dominated the market in terms of both value & volume due to increasing population, growing urbanization, and rising demand for automobiles in the region.
Some of the leading players in the global solvents market
- Solvay SA
- Honeywell International Inc.
- Royal Dutch Shell PLC
- Huntsman Corporation
- LyondellBasell Industries Holdings B.V.
- Celanese Corporation
- BASF SE
- Ashland Global Holdings Inc.
- Exxonmobil Corporation
- Ineos AG, etc.
| Attribute | Details |
| Historic Data | 2017 – 2020 |
| Estimated Year | 2022 |
| Forecast Period | 2023 – 2027 |
| Quantitative Units | Revenue in USD Million, Volume in Units, CAGR for 2017-2021 and 2022-2027 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Share, Competitive Landscape, Growth Factors, And Trends |
| Segments Covered | · By Type· By Application |
| Region scope | Asia Pacific; Europe & CIS; North America; South America; Middle East & Africa |
| Country scope | China, India, Japan, South Korea, Australia, Singapore, Malaysia, France, Germany, United Kingdom, Italy, Spain, United States, Mexico, Canada, Brazil, Argentina, Colombia, South Africa, Saudi Arabia, UAE, Qatar |
| Key companies profiled | Solvay SA, Honeywell International Inc., Royal Dutch Shell PLC, Huntsman Corporation, Lyondellbasell Industries Holdings B.V., Celanese Corporation, BASF SE, Ashland Global Holdings Inc., Exxonmobil Corporation, Ineos AG |
| Customization scope | 10% free report customization with purchase. Addition or alteration to regional & segment scope. |
| Pricing and purchase options | Avail customized purchase options to meet your exact research needs. Explore purchase options |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
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Report Scope:
In this report, the global solvents market has been segmented into the following categories, in addition to the industry trends which have also been detailed below:
- Solvents Market, By Type:
- Oxygenated Solvents
- Hydrocarbon Solvents
- Halogenated Solvents
- Others
- Solvents Market, By Application:
- Paints & Coatings
- Adhesives
- Agricultural Chemicals
- Pharmaceuticals
- Personal Care
- Rubber & Polymer
- Printing Inks
- Others
- Solvents Market, By Region:
- Asia Pacific
- China
- India
- Japan
- South Korea
- Australia
- Singapore
- Malaysia
- Europe & CIS
- France
- Germany
- United Kingdom
- Italy
- Spain
- North America
- United States
- Mexico
- Canada
- South America
- Brazil
- Argentina
- Colombia
- Middle East and Africa
- South Africa
- Saudi Arabia
- UAE
- Qatar
- Asia Pacific
Competitive Landscape
Company Profiles: Detailed analysis of the major companies present in the global solvents market