High-Purity Solvent Market Trends and Future Scope 2024

"The Business Research Company recently released a comprehensive report on the Global High Purity Solvent Market Size and Trends Analysis with Forecast 2024-2033. This latest market research report offers a wealth of valuable insights and data, including global market size, regional shares, and competitor market share. Additionally, it covers current trends, future opportunities, and essential data for success in the industry.

Ready to Dive into Something Exciting? Get Your Free Exclusive Sample of Our Research Report @
https://www.thebusinessresearchcompany.com/sample.aspx?id=6326&type=smp

According to The Business Research Company's, The high purity solvent market size has grown strongly in recent years. It will grow from $55.59 billion in 2023 to $60.77 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to stringent quality standard, growing electronic manufacturing, pharmaceutical industry growth, increasing analytical chemistry applications, globalization of chemical industries.

The high purity solvent market size is expected to see rapid growth in the next few years. It will grow to $90.44 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%. The growth in the forecast period can be attributed to emergence of green chemistry, increasing demand in nanotechnology, bio-based solvents, focus on specialty chemicals manufacturing, environmental and safety regulations. Major trends in the forecast period include increasing adoption in clean energy technologies, technological innovations in solvent purification, increasing use in research and analytical chemistry, technological advancements in production processes, emergence of customized solvent solutions.

Get The Complete Scope Of The Report @
https://www.thebusinessresearchcompany.com/report/high-purity-solvent-global-market-report

Market Drivers and Trends:

The increasing demand for paints and coatings is expected to propel the growth of the high purity solvent market going forward. Paints and coatings refer to a liquid, liquefiable, or solid mastic material that solidifies after being applied to a substrate in a thin layer. High purity solvents are used to dissolve various components used in paint and coating formulations. For instance, in June 2021, according to the American Coatings Association, a US-based non-profit organization, the United States coating industry is contributing significant revenues to the US economy by exporting over $2.2 billion in coating products. Therefore, the increasing demand for paints and coatings is driving the growth of the high purity solvent market.

The introduction of bio-derived products has emerged as a key trend gaining popularity in the high purity solvent market. Major companies operating in the high purity solvents sector are focused on developing bio-derived products to reinforce their position. For instance, in February 2022, Clariant, a Switzerland-based specialty chemicals company, launched its new Vita 100% bio-based surfactants and polyethylene glycols (PEGs) to help directly address climate change by removing fossil carbon from the value chain. Vita products are made with renewable feedstocks and have a Renewable Carbon Index of at least 98%. Designed for natural formulations with a high Renewable Carbon Index (RCI), the new Vita products assist manufacturers in increasing the bio-based carbon content of consumer goods such as detergents, hair and body shampoo, paint, industrial lubricants, and crop formulations.

Key Benefits for Stakeholders:

• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
• Informed Decision-Making: The reports provide crucial data that support strategic decisions, reducing risks and enhancing business planning.
• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
• Tailored Solutions: The Business Research Company offers customized reports that address specific needs, ensuring stakeholders receive relevant and actionable insights.
• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.

Major Key Players of the Market:

Exxon Mobil Corporation, MP Biomedicals LLC, BASF SE, Dow Inc., Bayer AG, Thermo Fisher Scientific Inc., Honeywell International Inc., Linde Corporation, The Merck Group, Asahi Kasei Corporation, Evonik Industries AG, DuPont de Nemours Inc., Akzo Nobel N.V., Mitsubishi Chemical Corporation, Avantor Inc., VWR International LLC, Sigma-Aldrich Co. LLC, Mallinckrodt Pharmaceuticals, Kanto Chemical Co. Inc., Alfa Aesar, Spectrum Chemical Mfg. Corp., J.T.Baker, Tokyo Chemical Industry Co. Ltd., GFS Chemicals Inc., Tedia Company Inc., Acros Organics, High Purity Laboratory Chemicals Pvt. Ltd., Apchem Life Science Pvt. Ltd., Pharmco-AAPER, EMD Millipore Corporation, Ricca Chemical Company, Fisher Scientific, Macron Fine Chemicals, Chem-Supply Pty. Ltd.

High Purity Solvent Market 2024 Key Insights:

• The high purity solvent market size is expected to see rapid growth in the next few years. It will grow to $90.44 billion in 2028 at a compound annual growth rate (CAGR) of 10.4%.
• The Surge In Demand For High Purity Solvents Fueled By Growing Paints And Coatings Industry
• Green Innovations Bio-Derived High Purity Solvents Transforming The Industry Landscape
• Asia-Pacific was the largest region in the high purity solvent market in 2023

We Offer Customized Report, Click @
https://www.thebusinessresearchcompany.com/Customise?id=6326&type=smp

Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ

Learn More About The Business Research Company

The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.

This release was published on openPR.