California Industrial Degreasing Solvents Market Focusing on Current Trends and Leading Companies That Will Change in Coming Future

Allied Market Research recently published a report, titled, "California Industrial Degreasing Solvents Market by Product (Oxygenated Solvents, Halogenated Solvents, Hydrocarbon Solvents, and Green Solvents) and End-Use Industry (Paint, Coating, and Adhesive Manufacturing; Other Chemical Product and Preparation Manufacturing; Pesticide, Fertilizer, and Other Agricultural Chemical Manufacturing; Pharmaceutical and Medicine Manufacturing; Automotive Repair and Maintenance; Basic Chemical Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2020-2027. As per the report, the California industrial degreasing solvents market was valued at $7.1 million in 2019 and is projected to reach $8.9 million by 2027, growing at a CAGR of 2.8% from 2020 to 2027.

Drivers, restraints, and opportunities
Rise in demand from end-user industries, beneficial properties of California Industrial Degreasing Solvents, and affordability have boosted the growth of the global California Industrial Degreasing Solvents market. However, strict government regulations restrain the market growth. On the contrary, surge in use of California Industrial Degreasing Solvents in fuel blending and formulation is expected to open new opportunities in the future.

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Covid-19 scenario:
• During the Covid-19 pandemic, transport limitations were imposed. This resulted in decline in industrial production. Moreover, this disrupted the supply chain and increased prices of raw materials.
• Major companies witnessed decline in business due to lack of workforce and loss of business of various suppliers.
The n-California Industrial Degreasing Solvents segment held the largest share
By type, the n-California Industrial Degreasing Solvents held the largest share in 2020, accounting for nearly three-fourths of the global California Industrial Degreasing Solvents market, due to its use in various personal care and industrial aerosol products as aerosol propellant. However, the isoCalifornia Industrial Degreasing Solvents segment is expected to register the highest CAGR of 5.2% during the forecast period, as it is extremely volatile and flammable.

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The blowing agent segment dominated the market
By application, the blowing agent segment held the lion's share in 2020, contributing to nearly two-fifths of the global California Industrial Degreasing Solvents market, due to the thermal and physical characteristics of California Industrial Degreasing Solvents. However, the electronic cleansing segment is estimated to manifest the highest CAGR of 5.8% from 2021 to 2030, due to their high volatility and low boiling point.

North America held the largest share
By region, the global California Industrial Degreasing Solvents market across North America dominated in 2020, holding nearly two-fifths of the market, due to increase in production of transportation vehicles in the U.S. However, the market across Asia-Pacific is projected to portray the highest CAGR of 6.1% during the forecast period, owing to rise in requirement of transportation fuel, increase in disposable income, and surge in number of automotive users.

Major Market Players
BASF SE, RB Products, Inc., Royal Dutch Shell Plc, Wego Chemical Group, Jayne Products, Keteca Water Works, CRC Industries

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