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Industrial Solvents Market Size 2022 at 5% CAGR, Growth, Strategies, Share, Segmentation, In-depth Analysis Research Report by Foresight to 2029
Industrial Solvents Market Overview:The global Industrial Solvents market is expected to register a significant CAGR 5% during the forecast period 2022-2028.
A liquid that has the power to dissolve, suspend, or extract other components is called a solvent. Materials can be processed, applied, cleaned, or separated using solvents. The use of solvents has profoundly altered contemporary life and is a priceless industry-wide solution for businesses doing anything from cleaning and printing supplies to paint and coatings, adhesives, medicines, and cosmetics. Due to rising demand from the pharmaceutical and paint & coatings industries, the global industrial solvents market, which is a mature market, is anticipated to rise steadily over the next five years. The largest solvent exporter and the market's growth engine are both located in Asia-Pacific. Legal restrictions and customers' increasing environmental consciousness, however, pose a severe danger to the market's ability to flourish.
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Recent Developments:
March 2022: SK Geo Centric, a South Korean chemical company, invested USD 55 million in US-based waste plastic recycling company PureCycle Technologies to grow its plastic recycling business. SK Geo Centric has acquired an undisclosed interest in PureCycle Technologies as a result of the transaction. PureCycle has developed a chemical recycling technique that utilizes an industrial solvent to recover ultra-pure regenerated polypropylene from waste plastics (UPR PP). Consumer products, food packaging, and car interiors all benefit from the material.
Industrial Solvents Market Key Players
The key players are now concentrating on implementing strategies such as adopting new applications, product innovations, mergers & acquisitions, joint ventures, alliances, and partnerships to improve their market position in the global Industrial Solvents market industry.
The study of the growth of the top market player for in the target sector includes new projects with speculative returns, innovations and study of the accessibility of companies. some of the profiled players are ASF SE, Exxon Mobil Corporation, Dow Chemicals, Maruzen Petrochemical, Shell Chemicals, Celanese Corporation, Solvay Chemicals and Others
Industrial Solvents Market Segmentation:
Industrial Solvents Market By Product Type, 2019-2028, (IN USD Million)
Alcohols
Glycols
Esters
Hydrocarbon & Chlorinated Solvents
Other Solvents
Industrial Solvents Market By Application, 2019-2028, (IN USD Million)
Paint & Coating
Printing Ink
Adhesive
Cosmetics
Pharmaceutical Industries
Others
Growth Factors:
Increasing demand from the Industrial Solvents industries
The growing use of Industrial Solvents in Chemical and Material Sectors.
Rising demand for products
Technological advancements in production processes
Growing applications in Industrial Solvents Market
Industrial Solvents Market Regional Analysis
Geographically, this report is segmented into several key regions, with sales, revenue, market share and growth Rate of Fiberglass Storage Tank (Fiberglass Tank) Professional in these regions, from 2022-2028, covering
North America (United States, Canada and Mexico)
Europe (Germany, UK, France, Italy, Russia and Turkey etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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Key Industrial Solvents Market Trends
- The report identifies, determines, and forecasts the Global Industrial Solvents Market segments based on their type, sub-type, technology used, applications, end-users, and regions.
- Industry to Industry Holds Largest Share in the Industrial Solvents Market
- It examines the micro-markets based on their growth trends, development patterns, future prospects, and contribution to the overall market.
- Demand from Regional / geographical is expected to drive the Growth
- Rising Adoption of Market Segments in the Industrial Solvents Growth
- It studies the competitive developments such as partnerships and collaborations, mergers and acquisitions (M&A), research and development (R&D) activities, product developments, and expansions in the Global Industrial Solvents Market.
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