Solvents Market Competitive Insights, Demand and Supply 2021-2025

Global Solvents market gives essential information, objective insights regarding global market top key players analysis, and much more. The report provides detailed information on segmentation which covers product type, various components, end-user or applications, and various regions. The report deals with the most driving forces influencing the market’s revenue scale. The report delivers a comprehensive analysis of key segments, recent trends, major drivers, growth constraints, competitive landscape during this market. The impact of the COVID-19, and also forecasts its recovery post-COVID-19. The report also presents forecasts for Solvents investments from 2021 till 2025.

The solvents market is expected to grow at a CAGR of around 5% globally.

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Market Overview: -

- Development of oxygenated based industrial solvents is expected to create new opportunities for the market to grow.
- The paints & coatings industry is expected to dominate the application segment of global solvents market over the period on account of significant demand for construction chemicals and growing automotive industry.
- Asia Pacific region represents the largest market and is also expected to be the fastest-growing market over the forecast period owing to the consumption from countries such as China and India.

Competitive Landscape: -

The Global Solvents Market is partially consolidated in nature with a few major players dominating a significant portion of the market. Some of the major companies are Royal Dutch Shell plc, Eastman Chemical Company, BASF SE, Exxon Mobil Corporation and LyondellBasell Industries Holdings B.V. and among others.

Key Market Trends: -

Significant Demand from Construction and Automotive Industry

- Significant demand in automotive sector is generating lucrative opportunities for innovation in the paints & coatings aftermarket, which in turn surge the demand for solvents market.
- Ketones are widely employed in paints and coatings owing to their ability to acquire low viscosity property and high solid content. Ester solvents are largely used in paints as a hardener and finds its usage as an industrial cleaner. Bio-based solvents are employed in paints and coatings to dissolve binders and colors and offers consistency. Solvents like glycol ether esters are added to some decorative paints and spray paints to avoid them from drying in mid-air.
- Solvents are used in many construction products such as paints, thinners, and glues. Increasing construction activities in countries such as China, India, United States and Brazil are expected to boost growth of the paints and coatings application segment.
- Solvents finds various applications in automotive industry. Additives in gasoline help keep the water from separating out of the gasoline. Furthermore, solvents assist the fuel burn cleaner, which in turn can help reduce tailpipe emissions. Solvents aids de-ice frozen door locks, clean carburetors, keep the engine cool, and clean upholstery and carpet.

Asia Pacific Region to Dominate the Market

- Increasing construction spending in countries like China and India, along with expanding industrialization in these countries is anticipated to boost market growth in the region. End-user industries such as paints and coating and adhesives are flourishing in countries such as China, India, Indonesia, Thailand, Vietnam, and Korea and is expected to fuel product demand in the region over the period.
- In addition, rapid industrialization and urbanization coupled with significant demand for automobiles are expected to contribute to the growth of the solvents market.
- The region accounts for 3% of the worlds proven oil reserves and 10% of the worlds proven gas reserves, out of which, China holds 28% of the regional total. This is driving the production of petrochemicals, which in turn, is expected to fuel the growth of the solvents market.

Significant Features that are under Offering and Key Highlights of the Reports:

– Detailed overview of Solvents Market
– Changing market dynamics of the industry
– In-depth market segmentation by Type, Application, etc.
– Historical, Current, and projected market size in terms of volume and value
– Recent industry trends and developments
– Competitive landscape of Solvents Market
– Strategies of key players and product offerings
– Potential and niche segments/regions exhibiting promising growth

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