Press release
Solvents Market 2023 Industry Size, Share, Growth, Developments, Top Key Players Analysis And Forecast To 2032
Solvents Global Market
The Business Research Company's Solvents Global Market Report 2023 identifies Rising demand for personal care products as the major driver for the Solvents market's growth in the forecast period. Personal care products are a grouping of traditional family chemical compounds that are used for health, beauty, and hygiene. Personal care items included fancy cosmetics, skin care products, hair care products, cleaning products, and perfumes. Solvents are a key component of skin care products since they are used to dissolve certain components, thereby improving functionality, texture, and sensory qualities.
The global solvents market size is expected to grow from $29.10 billion in 2022 to $30.78 billion in 2023 at a compound annual growth rate (CAGR) of 6.10%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of solvents market is expected to reach $37.64 billion in 2027 at a CAGR of 5.16%.
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Major competitors in the Solvents market are China Petroleum and Chemical Corporation, Exxon Mobil Corporation, Royal Dutch Shell Plc., Marathon Petroleum Corporation, Valero Energy Corporation, PJSC Lukoil Oil Company, Reliance Industries Limited, Mitsui Chemicals Inc.
A key trend in the Solvents market includes Product innovation. Companies operating in the solvent industry are adopting new technologies to sustain their position in the market.
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The Solvents market is segmented -
1) By Type: Alcohols, Hydrocarbons, Esters, Chlorinated, Other Types
2) By Category: Oxygenated Solvents, Hydrocarbon Solvents, Halogenated Solvents, Other Categories
3) By Source: Bio-Based Solvents, Petrochemicals-Based Solvents
4) By Application: Adhesives, Paints And Coatings, Personal Care, Pharmaceuticals, Other Applications
• By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the Solvents market.
The Business Research Company's "Global Solvents Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Solvents Market Include:
1. Executive Summary
2. Solvents Market Characteristics
3. Solvents Market Trends And Strategies
4. Solvents Market - Macro Economic Scenario
5. Solvents Market Size And Growth
……
27. Solvents Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Solvents Market
29. Solvents Market Future Outlook And Potential Analysis
30. Appendix
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