Solvents Market Share 2021 Statistics, Size, Regional Analysis by Major Players
Growing demand for solvents from emerging economies, government regulations favorable to the use of bio-based solvents are key factors contributing to the high CAGR of the solvent market during the forecast period.
The global solvent market was valued at $ 21.73 billion in 2020 and is expected to reach $ 35.66 billion by 2028, with a CAGR of 6.3%. The study covers an in-depth analysis of solvents and discusses their use in various applications. A solvent is a liquid substance that allows other substances. Solvents are very versatile and can be produced or mixed to meet very specific requirements and to make products with optimum performance, including aerosol paints that dry quickly and do not clog the spray nozzle; non-drinkable inks; exterior paints that look great and last a long time; and powerful cleaners suitable for tough jobs.
Solvents have many diverse uses, from paints and coatings, personal care products and pharmaceuticals to pesticides, cleaners and inks. Growing demand for solvents from emerging economies, government regulations favorable to the use of bio-based solvents are some of the key factors propelling market growth in the industry. However, the high concentrations of ground-level ozone produced by organic solvents affects human, animal and plant health, crops, forests and thus is a major obstacle to market growth in 2019-2028.
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The major players in the global solvent market are:
Dow Chemical, LyondellBasell, Exxon Mobil, Eastman Chemical, Archer-Daniels-Mildland (ADM), Royal Dutch Shell Plc., BASF SE
For the purpose of this study, reports and data segmented the market on the basis of end-use type and region:
Type (revenue, million USD; 2020-2028)
Application (Revenue, Million USD; 2020-2028)
Sources (Revenue, USD Million; 2020-2028)
Regional Outlook (Revenue USD Million; 2020-2028)
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Other key findings from the report suggest
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Tags: types of solvents, list of organic solvents, basic solvents, role of solvents, list of polar solvents, best solvents
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