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Solvent Market by Type, Application, Source & by Geography - 2023
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Conventional solvents consist of glycol ethers, hydrocarbons, acetate esters, alcohols, chlorinated and ketones; while organic solvents are used in traditional applications such as dry cleaning and in manufacturing industries.
The global solvents market is expected to grow during the forecast period (2017-2023) owing to the increasing environmental regulations for greener substitutes in developed countries for producing them at lower emissions and less toxicity.
The key trend observed in the solvents market is the increasing environmental and regulatory pressures and concerns over toxicity towards humans.
Increasing demand from end-use applications such as paints and coatings, agricultural chemicals, printing inks, adhesives, rubber and polymer, personal care, metal cleaning and pharmaceuticals is expected to drive the growth of global solvents market during the forecast period.
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The key players operating in the global solvents market include The Dow Chemicals, Shell Chemicals, ExxonMobil, British Petroleum (BP), BASF SE, Sasol Solvents, Celanese Corporation, Ashland Inc., Eastman Chemical Company and Solvay SA.
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