Global Solvents Market 2024-2028
Global Solvents Market 2024-2028
The solvents market is forecasted to grow by USD 9.6 bn during 2023-2028, accelerating at a CAGR of 5.24% during the forecast period. The report on the 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 technological advancements in recovery and recycling processes of solvents, rising use of aromatic solvents in specialty chemicals, and acceptance of green and bio-based solvents among end-user industries.
Technavio's 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 Geographical Landscape
- APAC
- North America
- Europe
- South America
- Middle East and Africa
This study identifies the adoption of iot technology?for oil and gas extraction as one of the prime reasons driving the solvents market growth during the next few years. Also, upsurge in demand for low voc formulations and new product launches by market vendors will lead to sizable demand in the market.
The report on the solvents market covers the following areas:
- Solvents market sizing
- Solvents market forecast
- 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 solvents market vendors that include Akzo Nobel NV, BASF SE, Chevron Phillips Chemical Co. LLC, Clariant AG, Dow Inc., Eastman Chemical Co., Exxon Mobil Corp., Huntsman Corp., INEOS Group, LG Chem Ltd., LyondellBasell Industries N.V., Merck KGaA, Mitsui and Co. Ltd., PPG Industries Inc., Saudi Basic Industries Corp., Shell plc, Solvay SA, SolvChem Inc., Stepan Co., and Vertec Biosolvents Inc.. Also, the 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.