Solvents Market – Global Industry Analysis and Forecast (2022-2029)

Solvents Market was valued at US$61.41 Bn in 2022 and is expected to reach US$ 81.91 Bn by 2029, at a CAGR of 4.2% during a forecast period.

Solvents Market Definition

A solvent is a chemical liquid that converts solute into solvent. Solvents have various applications in domestic, commercial, and research sectors. Tending research development in industries for various pharmaceutical ingredients like drugs, adhesives, and API are in demand. As pharmaceutical companies are growing, research and advancement in drugs are simultaneously in demand, for that perspective, solvents will play a very important role in the coming years hence Solvents market is expected to grow during the forecast period. The report study has analyzed sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis. Solvents Market To know about the Research Methodology :- Request Free Sample Report

Solvents Market Dynamic

The report contains a detail information of drivers, restrains, threats and opportunities for growth of the Solvents market. Solvents are used in various industries and institutes as they have numerous use in various sector. Rising automotive technology and modernization is one of the key factors to drive the market in forecast period. Solvents constantly interpret between 80 to 90% of utilization in chemical and pharmaceutical sector. Cosmetic market is one of the major factor that will be drive the market, demand for cosmetic products is high nowadays. The report has covered its applications in detail including domestic and industrial. Industrial demand for green solvents is expected to be the one of the key drivers during forecast period. The report has covered the industrial application of regions and its different dynamics that will help to understand the market and to create suitable strategies for each region. Fluctuation in performance of equipment is considered as one of strong point getting noticed from industries which is expected to hamper the market growth.

Solvents Market Safety outlook

Some hazardous solvents like chloroform and benzene are carcinogenic, and can cause organ damage like brain, kidney, and liver. Some of them can catch fire easily at work place, which is one of the major factors is expected to affect market differently in different region.

Solvents Market Opportunities

The global bio-based chemical market is growing in size and importance. Bio-based solvents such as glycerol and 2-methyltetrahydrofuran are often discussed as important introductions to the conventional repertoire of solvents. However, adoption of new innovations  is typically slow. Therefore it might be anticipated that neoteric solvent systems (e.g., ionic liquids) will remain niche, while renewable routes to historically established solvents will continue to grow in importance. Review discusses bio-based solvents from the perspective of their production, identifying suitable feedstock, platform molecules, and relevant product streams for the sustainable manufacturing of conventional solvents.

Solvents Market Segment analysis

In terms of application, paint and coating sector is estimated to dominate the market growth during forecast period. Development in infrastructure and automobile industries are expected to adopt  various industries which is expected to boost the market growth. Bio-based solvents are in use for painting and coating purpose to dissolve binders and color to provide good consistency. However, Industrial Coatings made with solvents dry up to 10 times faster than low-solvent alternatives at room temperature, making painting fast and easy along with other benefits such as long-lasting protection, brilliant performance in extreme weather conditions and many more.

Solvents Market Regional analysis

Regionally, Asia pacific is anticipated to witness the fastest market growth during forecast period . Development in industrialization in china and India, expected to show the fastest growth rate in the region. High demand for adhesive and paint coating is expected to fuel the market in coming years. Personal care sector is also demanding for solvent for their dissolution purpose is expected to boost the market in this region. However development in architecture sector require huge amount of solvent for coating and painting which will contribute for solvents market growth. The objective of the report is to present a comprehensive analysis of the Global Solvents Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Solvents Market dynamics, structure and analyzing the market segments and project the global market size. Clear representation of competitive analysis of key players inclusing Application, price, financial position, Product portfolio, growth strategies, and regional presence in the global market make the report investor’s guide.

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Global Solvents Market
Report Coverage Details
Base Year: 2022 Forecast Period: 2023-2029
Historical Data: 2018 to 2022 Market Size in 2022: US $ 61.41Bn.
Forecast Period 2023 to 2029 CAGR: 4.2% Market Size in 2029: US $ 81.91Bn.
Segments Covered: by Type Alcohols Glycol Ethers Aromatic Esters Ketones Aliphatic
by Application Pharmaceuticals Paints & coatings Adhesives Metal cleaning Personal care Polymer manufacturing Printing inks Agricultural chemicals
by Source Pharmaceutical Based Bio-Green

Solvents Market, by Region

North America (United States, Canada and Mexico) Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe) Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC) Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A) South America (Brazil, Argentina Rest of South America)

Solvents Market, Key Players

1. Royal Dutch Shell 2. Eastman Chemical Company 3. BASF SE 4. ExxonMobil Corporation 5. LyondellBasell Industries Holdings B.V 6. Ashland Global Holdings 7. Celanese Corporation 8. Huntsman Corporation 9. Solvay 10. Honeywell International 11. Ineos Group 12. Sasol Solvents 13. Dow Chemicals 14. Chr Hansen Holding A/S 15. Ajinomoto 16. Herza Chocolate GmbH & Co. KG 17. Indena Spa 18. Martin Bauer Group 19. Frutarom Ltd. Frequently Asked Questions: 1. Which region has the largest share in Global Solvents Market? Ans: Asia Pacific region holds the highest share in 2022. 2. What is the growth rate of Global Solvents Market? Ans: The Global Solvents Market is growing at a CAGR of 4.2% during forecasting period 2022-2029. 3. What segments  covered in Global Solvents market? Ans: Solvents Market is segmented such as  Type, Application, Source and Region. 4. Who are the key players in Global Solvents market? Ans: The important key players in the Solvents Market are – Royal Dutch Shell, Eastman Chemical Company, BASF SE, ExxonMobil Corporation, Ashland Global Holdings, Celanese Corporation, Huntsman Corporation, Solvay, Honeywell International, Ineos Group, Sasol Solvents, Dow Chemicals, Chr Hansen Holding A/S, Ajinomoto, Indena Spa, Martin Bauer Group, Frutarom Ltd. 5. What is the study period of this market? Ans: The Global Solvents Market is studied from 2022 to 2029.
1. Solvents Market Introduction 1.1. Study Assumption and Market Definition 1.2. Scope of the Study 1.3. Executive Summary 2. Solvents Market: Dynamics 2.1. Solvents Market Trends by Region 2.1.1. North America Solvents Market Trends 2.1.2. Europe Solvents Market Trends 2.1.3. Asia Pacific Solvents Market Trends 2.1.4. Middle East and Africa Solvents Market Trends 2.1.5. South America Solvents Market Trends 2.2. Solvents Market Dynamics by Region 2.2.1. North America 2.2.1.1. North America Solvents Market Drivers 2.2.1.2. North America Solvents Market Restraints 2.2.1.3. North America Solvents Market Opportunities 2.2.1.4. North America Solvents Market Challenges 2.2.2. Europe 2.2.2.1. Europe Solvents Market Drivers 2.2.2.2. Europe Solvents Market Restraints 2.2.2.3. Europe Solvents Market Opportunities 2.2.2.4. Europe Solvents Market Challenges 2.2.3. Asia Pacific 2.2.3.1. Asia Pacific Solvents Market Drivers 2.2.3.2. Asia Pacific Solvents Market Restraints 2.2.3.3. Asia Pacific Solvents Market Opportunities 2.2.3.4. Asia Pacific Solvents Market Challenges 2.2.4. Middle East and Africa 2.2.4.1. Middle East and Africa Solvents Market Drivers 2.2.4.2. Middle East and Africa Solvents Market Restraints 2.2.4.3. Middle East and Africa Solvents Market Opportunities 2.2.4.4. Middle East and Africa Solvents Market Challenges 2.2.5. South America 2.2.5.1. South America Solvents Market Drivers 2.2.5.2. South America Solvents Market Restraints 2.2.5.3. South America Solvents Market Opportunities 2.2.5.4. South America Solvents Market Challenges 2.3. PORTER’s Five Forces Analysis 2.4. PESTLE Analysis 2.5. Technology Roadmap 2.6. Regulatory Landscape by Region 2.6.1. North America 2.6.2. Europe 2.6.3. Asia Pacific 2.6.4. Middle East and Africa 2.6.5. South America 2.7. Key Opinion Leader Analysis For Solvents Industry 2.8. Analysis of Government Schemes and Initiatives For Solvents Industry 2.9. Solvents Market Trade Analysis 2.10. The Global Pandemic Impact on Solvents Market 3. Solvents Market: Global Market Size and Forecast by Segmentation by Demand and Supply Side (by Value in USD Million) 2022-2029 3.1. Solvents Market Size and Forecast, by Type (2022-2029) 3.1.1. Alcohols 3.1.2. Glycol Ethers 3.1.3. Aromatic 3.1.4. Esters 3.1.5. Ketones 3.1.6. Aliphatic 3.2. Solvents Market Size and Forecast, by Application (2022-2029) 3.2.1. Pharmaceuticals 3.2.2. Paints & coatings 3.2.3. Adhesives 3.2.4. Metal cleaning 3.2.5. Personal care 3.2.6. Polymer manufacturing 3.2.7. Printing inks 3.2.8. Agricultural chemicals 3.3. Solvents Market Size and Forecast, by Source (2022-2029) 3.3.1. Pharmaceutical Based 3.3.2. Bio-Green 3.4. Solvents Market Size and Forecast, by Region (2022-2029) 3.4.1. North America 3.4.2. Europe 3.4.3. Asia Pacific 3.4.4. Middle East and Africa 3.4.5. South America 4. North America Solvents Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 4.1. North America Solvents Market Size and Forecast, by Type (2022-2029) 4.1.1. Alcohols 4.1.2. Glycol Ethers 4.1.3. Aromatic 4.1.4. Esters 4.1.5. Ketones 4.1.6. Aliphatic 4.2. North America Solvents Market Size and Forecast, by Application (2022-2029) 4.2.1. Pharmaceuticals 4.2.2. Paints & coatings 4.2.3. Adhesives 4.2.4. Metal cleaning 4.2.5. Personal care 4.2.6. Polymer manufacturing 4.2.7. Printing inks 4.2.8. Agricultural chemicals 4.3. North America Solvents Market Size and Forecast, by Source (2022-2029) 4.3.1. Pharmaceutical Based 4.3.2. Bio-Green 4.4. North America Solvents Market Size and Forecast, by Country (2022-2029) 4.4.1. United States 4.4.1.1. United States Solvents Market Size and Forecast, by Type (2022-2029) 4.4.1.1.1. Alcohols 4.4.1.1.2. Glycol Ethers 4.4.1.1.3. Aromatic 4.4.1.1.4. Esters 4.4.1.1.5. Ketones 4.4.1.1.6. Aliphatic 4.4.1.2. United States Solvents Market Size and Forecast, by Application (2022-2029) 4.4.1.2.1. Pharmaceuticals 4.4.1.2.2. Paints & coatings 4.4.1.2.3. Adhesives 4.4.1.2.4. Metal cleaning 4.4.1.2.5. Personal care 4.4.1.2.6. Polymer manufacturing 4.4.1.2.7. Printing inks 4.4.1.2.8. Agricultural chemicals 4.4.1.3. United States Solvents Market Size and Forecast, by Source (2022-2029) 4.4.1.3.1. Pharmaceutical Based 4.4.1.3.2. Bio-Green 4.4.2. Canada 4.4.2.1. Canada Solvents Market Size and Forecast, by Type (2022-2029) 4.4.2.1.1. Alcohols 4.4.2.1.2. Glycol Ethers 4.4.2.1.3. Aromatic 4.4.2.1.4. Esters 4.4.2.1.5. Ketones 4.4.2.1.6. Aliphatic 4.4.2.2. Canada Solvents Market Size and Forecast, by Application (2022-2029) 4.4.2.2.1. Pharmaceuticals 4.4.2.2.2. Paints & coatings 4.4.2.2.3. Adhesives 4.4.2.2.4. Metal cleaning 4.4.2.2.5. Personal care 4.4.2.2.6. Polymer manufacturing 4.4.2.2.7. Printing inks 4.4.2.2.8. Agricultural chemicals 4.4.2.3. Canada Solvents Market Size and Forecast, by Source (2022-2029) 4.4.2.3.1. Pharmaceutical Based 4.4.2.3.2. Bio-Green 4.4.3. Mexico 4.4.3.1. Mexico Solvents Market Size and Forecast, by Type (2022-2029) 4.4.3.1.1. Alcohols 4.4.3.1.2. Glycol Ethers 4.4.3.1.3. Aromatic 4.4.3.1.4. Esters 4.4.3.1.5. Ketones 4.4.3.1.6. Aliphatic 4.4.3.2. Mexico Solvents Market Size and Forecast, by Application (2022-2029) 4.4.3.2.1. Pharmaceuticals 4.4.3.2.2. Paints & coatings 4.4.3.2.3. Adhesives 4.4.3.2.4. Metal cleaning 4.4.3.2.5. Personal care 4.4.3.2.6. Polymer manufacturing 4.4.3.2.7. Printing inks 4.4.3.2.8. Agricultural chemicals 4.4.3.3. Mexico Solvents Market Size and Forecast, by Source (2022-2029) 4.4.3.3.1. Pharmaceutical Based 4.4.3.3.2. Bio-Green 5. Europe Solvents Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 5.1. Europe Solvents Market Size and Forecast, by Type (2022-2029) 5.2. Europe Solvents Market Size and Forecast, by Application (2022-2029) 5.3. Europe Solvents Market Size and Forecast, by Source (2022-2029) 5.4. Europe Solvents Market Size and Forecast, by Country (2022-2029) 5.4.1. United Kingdom 5.4.1.1. United Kingdom Solvents Market Size and Forecast, by Type (2022-2029) 5.4.1.2. United Kingdom Solvents Market Size and Forecast, by Application (2022-2029) 5.4.1.3. United Kingdom Solvents Market Size and Forecast, by Source(2022-2029) 5.4.2. France 5.4.2.1. France Solvents Market Size and Forecast, by Type (2022-2029) 5.4.2.2. France Solvents Market Size and Forecast, by Application (2022-2029) 5.4.2.3. France Solvents Market Size and Forecast, by Source(2022-2029) 5.4.3. Germany 5.4.3.1. Germany Solvents Market Size and Forecast, by Type (2022-2029) 5.4.3.2. Germany Solvents Market Size and Forecast, by Application (2022-2029) 5.4.3.3. Germany Solvents Market Size and Forecast, by Source (2022-2029) 5.4.4. Italy 5.4.4.1. Italy Solvents Market Size and Forecast, by Type (2022-2029) 5.4.4.2. Italy Solvents Market Size and Forecast, by Application (2022-2029) 5.4.4.3. Italy Solvents Market Size and Forecast, by Source(2022-2029) 5.4.5. Spain 5.4.5.1. Spain Solvents Market Size and Forecast, by Type (2022-2029) 5.4.5.2. Spain Solvents Market Size and Forecast, by Application (2022-2029) 5.4.5.3. Spain Solvents Market Size and Forecast, by Source (2022-2029) 5.4.6. Sweden 5.4.6.1. Sweden Solvents Market Size and Forecast, by Type (2022-2029) 5.4.6.2. Sweden Solvents Market Size and Forecast, by Application (2022-2029) 5.4.6.3. Sweden Solvents Market Size and Forecast, by Source (2022-2029) 5.4.7. Austria 5.4.7.1. Austria Solvents Market Size and Forecast, by Type (2022-2029) 5.4.7.2. Austria Solvents Market Size and Forecast, by Application (2022-2029) 5.4.7.3. Austria Solvents Market Size and Forecast, by Source (2022-2029) 5.4.8. Rest of Europe 5.4.8.1. Rest of Europe Solvents Market Size and Forecast, by Type (2022-2029) 5.4.8.2. Rest of Europe Solvents Market Size and Forecast, by Application (2022-2029) 5.4.8.3. Rest of Europe Solvents Market Size and Forecast, by Source (2022-2029) 6. Asia Pacific Solvents Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 6.1. Asia Pacific Solvents Market Size and Forecast, by Type (2022-2029) 6.2. Asia Pacific Solvents Market Size and Forecast, by Application (2022-2029) 6.3. Asia Pacific Solvents Market Size and Forecast, by Source (2022-2029) 6.4. Asia Pacific Solvents Market Size and Forecast, by Country (2022-2029) 6.4.1. China 6.4.1.1. China Solvents Market Size and Forecast, by Type (2022-2029) 6.4.1.2. China Solvents Market Size and Forecast, by Application (2022-2029) 6.4.1.3. China Solvents Market Size and Forecast, by Source (2022-2029) 6.4.2. S Korea 6.4.2.1. S Korea Solvents Market Size and Forecast, by Type (2022-2029) 6.4.2.2. S Korea Solvents Market Size and Forecast, by Application (2022-2029) 6.4.2.3. S Korea Solvents Market Size and Forecast, by Source (2022-2029) 6.4.3. Japan 6.4.3.1. Japan Solvents Market Size and Forecast, by Type (2022-2029) 6.4.3.2. Japan Solvents Market Size and Forecast, by Application (2022-2029) 6.4.3.3. Japan Solvents Market Size and Forecast, by Source (2022-2029) 6.4.4. India 6.4.4.1. India Solvents Market Size and Forecast, by Type (2022-2029) 6.4.4.2. India Solvents Market Size and Forecast, by Application (2022-2029) 6.4.4.3. India Solvents Market Size and Forecast, by Source (2022-2029) 6.4.5. Australia 6.4.5.1. Australia Solvents Market Size and Forecast, by Type (2022-2029) 6.4.5.2. Australia Solvents Market Size and Forecast, by Application (2022-2029) 6.4.5.3. Australia Solvents Market Size and Forecast, by Source (2022-2029) 6.4.6. Indonesia 6.4.6.1. Indonesia Solvents Market Size and Forecast, by Type (2022-2029) 6.4.6.2. Indonesia Solvents Market Size and Forecast, by Application (2022-2029) 6.4.6.3. Indonesia Solvents Market Size and Forecast, by Source (2022-2029) 6.4.7. Malaysia 6.4.7.1. Malaysia Solvents Market Size and Forecast, by Type (2022-2029) 6.4.7.2. Malaysia Solvents Market Size and Forecast, by Application (2022-2029) 6.4.7.3. Malaysia Solvents Market Size and Forecast, by Source (2022-2029) 6.4.8. Vietnam 6.4.8.1. Vietnam Solvents Market Size and Forecast, by Type (2022-2029) 6.4.8.2. Vietnam Solvents Market Size and Forecast, by Application (2022-2029) 6.4.8.3. Vietnam Solvents Market Size and Forecast, by Source(2022-2029) 6.4.9. Taiwan 6.4.9.1. Taiwan Solvents Market Size and Forecast, by Type (2022-2029) 6.4.9.2. Taiwan Solvents Market Size and Forecast, by Application (2022-2029) 6.4.9.3. Taiwan Solvents Market Size and Forecast, by Source (2022-2029) 6.4.10. Rest of Asia Pacific 6.4.10.1. Rest of Asia Pacific Solvents Market Size and Forecast, by Type (2022-2029) 6.4.10.2. Rest of Asia Pacific Solvents Market Size and Forecast, by Application (2022-2029) 6.4.10.3. Rest of Asia Pacific Solvents Market Size and Forecast, by Source (2022-2029) 7. Middle East and Africa Solvents Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 7.1. Middle East and Africa Solvents Market Size and Forecast, by Type (2022-2029) 7.2. Middle East and Africa Solvents Market Size and Forecast, by Application (2022-2029) 7.3. Middle East and Africa Solvents Market Size and Forecast, by Source (2022-2029) 7.4. Middle East and Africa Solvents Market Size and Forecast, by Country (2022-2029) 7.4.1. South Africa 7.4.1.1. South Africa Solvents Market Size and Forecast, by Type (2022-2029) 7.4.1.2. South Africa Solvents Market Size and Forecast, by Application (2022-2029) 7.4.1.3. South Africa Solvents Market Size and Forecast, by Source (2022-2029) 7.4.2. GCC 7.4.2.1. GCC Solvents Market Size and Forecast, by Type (2022-2029) 7.4.2.2. GCC Solvents Market Size and Forecast, by Application (2022-2029) 7.4.2.3. GCC Solvents Market Size and Forecast, by Source (2022-2029) 7.4.3. Nigeria 7.4.3.1. Nigeria Solvents Market Size and Forecast, by Type (2022-2029) 7.4.3.2. Nigeria Solvents Market Size and Forecast, by Application (2022-2029) 7.4.3.3. Nigeria Solvents Market Size and Forecast, by Source (2022-2029) 7.4.4. Rest of ME&A 7.4.4.1. Rest of ME&A Solvents Market Size and Forecast, by Type (2022-2029) 7.4.4.2. Rest of ME&A Solvents Market Size and Forecast, by Application (2022-2029) 7.4.4.3. Rest of ME&A Solvents Market Size and Forecast, by Source (2022-2029) 8. South America Solvents Market Size and Forecast by Segmentation (by Value in USD Million) 2022-2029 8.1. South America Solvents Market Size and Forecast, by Type (2022-2029) 8.2. South America Solvents Market Size and Forecast, by Application (2022-2029) 8.3. South America Solvents Market Size and Forecast, by Source(2022-2029) 8.4. South America Solvents Market Size and Forecast, by Country (2022-2029) 8.4.1. Brazil 8.4.1.1. Brazil Solvents Market Size and Forecast, by Type (2022-2029) 8.4.1.2. Brazil Solvents Market Size and Forecast, by Application (2022-2029) 8.4.1.3. Brazil Solvents Market Size and Forecast, by Source (2022-2029) 8.4.2. Argentina 8.4.2.1. Argentina Solvents Market Size and Forecast, by Type (2022-2029) 8.4.2.2. Argentina Solvents Market Size and Forecast, by Application (2022-2029) 8.4.2.3. Argentina Solvents Market Size and Forecast, by Source (2022-2029) 8.4.3. Rest Of South America 8.4.3.1. Rest Of South America Solvents Market Size and Forecast, by Type (2022-2029) 8.4.3.2. Rest Of South America Solvents Market Size and Forecast, by Application (2022-2029) 8.4.3.3. Rest Of South America Solvents Market Size and Forecast, by Source (2022-2029) 9. Global Solvents Market: Competitive Landscape 9.1. MMR Competition Matrix 9.2. Competitive Landscape 9.3. Key Players Benchmarking 9.3.1. Company Name 9.3.2. Business Segment 9.3.3. End-user Segment 9.3.4. Revenue (2022) 9.3.5. Company Locations 9.4. Leading Solvents Market Companies, by market capitalization 9.5. Market Structure 9.5.1. Market Leaders 9.5.2. Market Followers 9.5.3. Emerging Players 9.6. Mergers and Acquisitions Details 10. Company Profile: Key Players 10.1. Royal Dutch Shell 10.1.1. Company Overview 10.1.2. Business Portfolio 10.1.3. Financial Overview 10.1.4. SWOT Analysis 10.1.5. Strategic Analysis 10.1.6. Scale of Operation (small, medium, and large) 10.1.7. Details on Partnership 10.1.8. Regulatory Accreditations and Certifications Received by Them 10.1.9. Awards Received by the Firm 10.1.10. Recent Developments 10.2. Eastman Chemical Company 10.3. BASF SE 10.4. ExxonMobil Corporation 10.5. LyondellBasell Industries Holdings B.V 10.6. Ashland Global Holdings 10.7. Celanese Corporation 10.8. Huntsman Corporation 10.9. Solvay 10.10. Honeywell International 10.11. Ineos Group 10.12. Sasol Solvents 10.13. Dow Chemicals 10.14. Chr Hansen Holding A/S 10.15. Ajinomoto 10.16. Herza Chocolate GmbH & Co. KG 10.17. Indena Spa 10.18. Martin Bauer Group 10.19. Frutarom Ltd. 11. Key Findings 12. Industry Recommendations 13. Solvents Market: Research Methodology 14. Terms and Glossary

About This Report

Report ID 54142
Category Material & Chemical
Published Date Sept 2023
Updated Date
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