Global Industrial Solvents Market 2024-2028
The industrial solvents market is forecasted to grow by USD 2525.5 mn during 2023-2028, accelerating at a CAGR of 5.24% during the forecast period. The report on the industrial solvents market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by growing demand for oxygenated solvents, high adoption of solvents in industrial cleaning products, and rapid urbanization and infrastructure development.
Technavio's industrial solvents market is segmented as below:
By Type
- Alcohols
- Hydrocarbons
- Ketones
- Esters
- Others
By End-user
- Paints and coatings
- Pharmaceuticals
- Adhesives
- Printing Inks
- Others
By Geography
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the rising shift toward low-voc and zero-voc formulations as one of the prime reasons driving the industrial solvents market growth during the next few years. Also, increasing demand for architectural coatings and growing demand for high-performance industrial solvents will lead to sizable demand in the market.
The report on the industrial solvents market covers the following areas:
- Industrial solvents market sizing
- Industrial solvents market forecast
- Industrial solvents market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading industrial solvents market vendors that include Arkema SA, BASF SE, Chevron Phillips Chemical Co. LLC, Clariant AG, Dow Inc., Eastman Chemical Co., Exxon Mobil Corp., Honeywell International Inc., Huntsman Corp., Idemitsu Kosan Co. Ltd., Industrial Solvents and Chemicals Pvt. Ltd., INEOS AG, LyondellBasell Industries N.V., Reliance Industries Ltd., Sasol Ltd., SATELLITE CHEMICAL CO. LTD., Shell plc, Sydney Solvents, TotalEnergies SE, and Trice Chemicals Industries LLC. Also, the industrial solvents market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.