Solvents Market is Forecasted to Reach US$ 36.47 Billion in 2028, Says Stratview Research

The global solvents market is projected to witness a growth rate of 6.17% annually from 2022 to 2028, with an anticipated size of US$ 36.47 billion by 2028, according to an analysis by Stratview Research.

Stratview Research, a global market research firm has launched a report on the global solvents market which provides a comprehensive outlook of the global and regional market, industry forecast, current & emerging trends, segment analysis, competitive landscape, & more.

Click here to get a free sample of the report:
https://www.stratviewresearch.com/Request-Sample/2978/solvents-market.html#form

Report Highlights:
Market Size in 2028: US$ 36.47 billion
Growth (CAGR): 6.17% during 2022-2028
Forecast Period: 2022-2028
Trend Period: 2016-2020
Base Year: 2021
Number of Segments Covered: 3
Number of Tables & Graphs: 100+
Country-Level Market Assessment: 20

Segment Insights on the Solvents Market:

The global solvents market is segmented based on product type, application type, and region.

Based on product type - The market is classified as alcohol, esters, and others. The alcohols segment is expected to account for the majority of the share during the forecast period. The growth of the segment is attributable to the rising demand for ethanol, methanol, n-butanol, and isopropanol for varied applications. Methanol is popularly used in inks and adhesive applications, whereas ethanol finds its application in perfumes, vegetable essences, and medical drugs.

Based on application type - The market is segmented into paints & coatings, printing inks, industrial cleaning, adhesives, and others. The paints & coatings application type is likely to be the dominant segment of the market during 2022-2028, owing to its massive usage in the construction industry. The fast-growing construction industry, paired with initiatives towards making paints more sustainable is contributing to the growth of the segment. Also, printing inks are expected to be the second-largest segment during the projection period. Solvents such as methanol, aromatic hydrocarbons, and ethyl acetate are widely used in printing.

To know the most attractive segments, click here:
https://www.stratviewresearch.com/2978/solvents-market.html

Which Region Shows the Most Promising Growth Forecast and Opportunity?

The analysis suggests that Asia-Pacific is expected to remain the largest region in the market for solvents during the forecast period. This growth outlook is majorly attributed to the following-

• The growth of the region's market is driven by the large-scale production of paints and coatings in countries such as China.
• Furthermore, growing infrastructure development, accompanied by innovations in bio-based products is expected to fuel the product demand in the Asia-Pacific region.
• Also, North America is expected to record significant growth during the Assessment period owing to the fast-growing automotive industry in the region.

Solvents Market Drivers:

Some of the key drivers listed in the report are given below.

• Given the rising strictness of environmental regulations
• The increasing advancements in chemicals, coupled with the growing demand for bio-based products, is expected to drive the solvents market recovery and growth.
• Also, the rapidly growing paints & coatings industry is promoting increased usage of the product.

Top Companies in the Solvents Market:

Stratview Research has identified the following companies as the top market players.
• Ashland Global Specialty Chemicals Inc.
• BASF SE
• Eastman Chemical Company
• LyondellBasell Industries Holdings B.V.
• Shell plc

What Unique Insights Does this Report Offer?
This report provides comprehensive insights into the Solvents Market, answering critical questions like:
• How big is the sales opportunity?
• Which regions offer the best sales opportunities?
• Which are the most attractive market segments?
• Which are the top players and their market positioning?
• How complex is the business environment?
• What are the factors affecting the market?

For Customization or Any Other Queries, Get in Touch with Our Industry Experts at - sales@stratviewresearch.com

Related Reports:
• Paints & Coatings Market: https://www.stratviewresearch.com/1299/paints-&-coatings-market.html

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This release was published on openPR.