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Aprotic Solvents Market Growth, Forecast and Value Chain 2017-2025
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Aprotic Solvents Market: Drivers and Restraints
Aprotic solvents market is witnessing maximum growth owing to burgeoning consumption for aprotic solvents among various end user industries such as pharmaceutical, and oil & gas industry, advanced recycling technology, and rising demand for the environmentally friendly solution. Moreover, advanced features such as high relative permittivity, low reactivity, and thermal stability along with the use of aprotic solvents in gas production, and oil refining are some of the factors that can boost the demand for aprotic solvents over the forecast period. However, rising demand for non-toxic substitutes to aprotic solvents, stringent regime regulations, fluctuation in raw material cost, and increasing environmental concern may hinder the growth of aprotic solvents market in the near future.
Aprotic Solvents Market: Overview
Aprotic solvents market revenue is expected to grow at a rapid growth rate, over the forecast period. The market is anticipated to perform well in the near future owing to extensive use of the N-Methyl-2-pyrrolidone solvent for liquefying various material in oil & gas industry, and toluene in the development of benzene, xylene, and trinitrotoluene used in various industries such as pharmaceutical. Moreover, expanding the use of aprotic polarity solvent as a reaction solvent for agricultural as well as pharmaceutical chemicals along with a cleaning agent for electronic components are some of the factors that are projected to propel the market revenue growth of aprotic solvents during the forecast period. Based on application, the pharmaceutical segment is anticipated to grow at the fastest CAGR over the forecast period attributed to expanding usage of bio-based solvents in the pharmaceutical industry coupled with a rise in demand for environmentally friendly products owing to stringent government regulations.
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Aprotic Solvents Market: Region-wise Outlook
Depending on the geographic region, aprotic solvents market is divided into seven key regions: North America, Eastern Europe, Latin America, Western Europe, Japan, Asia-Pacific, and the Middle East & Africa. North America dominates the aprotic solvents market, with the U.S. being a leading contributor owing to established research centers, innovative technology, and the presence of major players. Asia Pacific, Middle East, and Africa hold significant potential and shows substantial growth in terms of expanding pharmaceutical and oil & gas industry in these regions is escalating the growth of aprotic solvents market throughout the forecast period.
Aprotic Solvents Market: Key Players
Some players of the aprotic solvents market are CNPC Jilin Chemical Group, BASF SE, Eastman Chemical Company, Shell Chemicals, Ineos Chemicals Company, Celanese Corporation, DuPont Conglomerate Company, AlzChem AG, Asahi Kasei, Imperial Chemical Corporation, Mitsubishi Chemicals, Nanjing Jinlong and Ashland.
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