Solvent Market Lucrative Opportunities By 2025
The amount of solute that can break up in a particular volume of solvent differs with temperature. Basic uses for natural solvents are in cleaning (e.g. tetrachloroethylene), as acetones (e.g. toluene, turpentine), as nail paintremovers and paste solvents (CH3)2CO, methyl acetic acid derivation, ethyl acetic acid derivation), in spot removers (e.g. petroleum ether, hexane), in cleansers (citrus terpenes), and in fragrances (ethanol). Water is a solvent for polar particles, and the most widely recognized dissolvable utilized by living things.
Every one of the particles and proteins in a cell are broken down in water inside a cell. Solvents find different applications in compound, pharmaceutical, oil, and gas ventures, incorporating into synthetic combinations and cleaning forms.
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The global solvent market can besegmented on the basis of type, source, and application.In terms of type, the global solvent market can be segmented into oxygenated solvents, hydrocarbon solvents, halogenated solvents, and others.
Oxygenated solvents are further sub-segmentedinto alcohols, esters, ketones, glycol ethers, and glycol. Hydrocarbon solvents can befurther sub-segmentedinto aliphatic solvents and aromatic solvents. Halogenated solvents can befurther sub-segmentedinto trichloroethylene, methylene chloride, perchloroethylene, and others.
The oxygenated solvents segment held a majorshare of the market in 2016 and is anticipated to maintainits dominance tduringthe forecast period. The halogenated solventssegment is projectedto expand rapidly during the forecast period.In terms of source, the global solvent market can be segmented into conventional solvents and bio & green solvents.
The conventional solvents segment held a prominentshare of the market in 2016. It is estimated to maintain its position duringthe forecast period.The bio & green solvents segment is projected to expand rapidly during the forecast period. In terms of application, the global solvent market can be segmented into rubber & polymer, personal care, metal cleaning, printing inks, adhesives, pharmaceuticals, agricultural chemicals, paints & coatings, and others.
The rubber & polymer segment held a prominentshare of the market in 2016.Itis likely to dominate the marketduring the forecast period.The agricultural chemicals segment is anticipated to expand rapidly during the forecast period.
Demand for food products is increasing rapidlydue to the rise in population, which in turn is increasing the demand for solvents from the agricultural chemical segment.
Major drivers driving the global solvent market include increasingdemand for conventional solvents in the construction and automotive industries.Furthermore, increasing demand for solvents from the agricultural chemicals sector is also fuellingthe global solvent market.
Declining prices of crude oil is furtherboosting the solvent market, as it is becoming cheaper and therefore, demand is increasing considerably.A major restraintfor conventional solvents is consumers opting for bio-green alternatives,as they are less reactive and non-VOC in nature.
Consequently, end-use industries are adoptingit to a greater extent.Developing countries such as India and China are likely tooffer great opportunities for the expansion of the global solvent market.
In terms of geography, the global solvent market can besegmented into North America, Europe, Asia Pacific, Middle East &Africa, and Latin America. Asia Pacific held a majorshare of the market in 2016 and is anticipated to maintainits position duringthe forecast period.
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Themarket in the region is also anticipated to expand rapidly during the forecast period.Demand for solvents is increasing considerably in the region due to increasing population and rapid urbanization.
Major players operating in the global solvent market include Huntsman Corporation (U.S.), BASF SE (Germany),Royal Dutch Shell Plc (Netherlands), The Dow Chemical Company (U.S.), and Celanese Corporation (U.S.).
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions.
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.
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