Solvents Market - Global Industry Analysis

Solvents Market by Type (Alcohols, Hydrocarbons, Ketones, Esters, and Chlorinated) By End Users (Cleaning Products, Paints and Coatings, Printing Inks, Pharmaceuticals, and Adhesives and Cosmetics, and Others): Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 – 2028

Published Date: 02-Aug-2021 Category: Chemical & Materials Report Format : PDF Pages: 160 Report Code: ZMR-118 Status : Published

The global Solvents market accounted for USD 28.2 Billion in 2020 and is expected to reach USD 40.9 Billion by 2028, growing at a CAGR of around 4.6% between 2021 and 2028.

Description

Market Overview                      

The global Solvents market accounted for USD 28.2 Billion in 2020 and is expected to reach USD 40.9 Billion by 2028, growing at a CAGR of around 4.6% between 2021 and 2028.           

Solvents are organic compounds that have a wide range of industrial uses in a variety of industries. Solvents are widely used in sectors such as textiles, paints & coatings, plastics & rubber, pharmaceuticals, oil & gas, manufacturing, and chemical synthesis and many others. Solvents are used in paints and coatings to remove various chemicals to make them safe for use. Solvent-based paints dry quicker than its alternatives, allowing for a faster pace of output. The domination of traditional petroleum feedstock-based solvents in the global solvents industry can be seen in the above industries. The widespread use of petroleum-based solvents is said to have resulted in environmental damage. As a result, the environmental concerns has led regulatory authorities to enforce strict legislation aimed at addressing the harm caused by such hazardous chemical substances.  

COVID-19 Impact Analysis:   

Due to government-imposed lockdowns to prevent the spreading of COVID, the global solvents industry has seen a small decrease in revenues in the short term. Because of the pandemic, the production and supply chain stopped operating around the world, potentially reducing solvent use. However, in the midst of the pandemic, there has been a surge in product demand for applications such as personal care, domestic and industrial cleaners. Also pharmaceutical industry which is coming under the essential services likely to boost the use of solvents contributing to the growth of the market.

The global markets are slowly opening to their full potential and theirs a surge in demand of the solvents. The market would remain bullish in upcoming year. The significant decrease in the global Bio-solvents market size in 2020 is estimated on the basis of the COVID-19 outbreak and its negative impact on the economies and industries across the globe. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

Global Solvents Market Size

Growth Factors

Developing automotive and pharma sectors all over the world are the major reasons anticipated to tower the global solvents market. Increasing requirement for solvents for different applications particularly in developing areas of India, China, and Brazil is expected to power the market size for the global solvents market over the forecast period. On the other hand, increasing environmental concerns is expected to slow down the development of the global solvents market. Nonetheless, commencement of green & bio-solvents and in-progress research and development are likely to offer new opportunities to the major mechanist of the global solvents market in the years to come.

Report Scope:  

Report Attribute Details
Base Year 2020
Historic Years 2016 - 2020
Forecast Years 2021 - 2028
Segments Covered By Product Type, By Application, and By End Use
Forecast Units Value (USD Billion), and Volume (Units)
Quantitative Units Revenue in USD million/billion and CAGR from 2021 to 2028
Regions Covered North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World
Countries Covered U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others
Number of Companies Covered 10 companies with scope for including additional 15 companies upon request
Report Coverage Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis.
Customization Scope Avail customized purchase options to meet your exact research needs.

Segment Analysis Preview  

On the basis of Type, Solvents market has been divided as Alcohols, Hydrocarbons, Ketones, Esters, Chlorinated and Others. Alcohols are expected to become more common in the general solvents industry in the near future due to their lower price, limited application area, and ease of availability as compared to other solvents.

On the basis of End Users, the market is segmented into Cleaning Products, Paints & Coating, Printing Ink, Pharmaceutical, Adhesives, Cosmetics and Other End-Uses. Paints and coatings dominated the   solvents industry in 2020, accounting for almost 35.5% of total solvents sales. In the near future, the global solvents industry is expected to be dominated by the paints and coatings application division

Regional Analysis Preview  

Asia Pacific ruled the global solvents market in 2020 and it is also expected to be the quickest developing market in the years to come. Up-and-coming markets in Asia-Pacific are expected to offer the great scope to the key players in the global solvents market in the years to come. Asia Pacific was chased by North America and Europe for the global solvents market in the same year. These both regions are mature areas for global solvents market.

Global Solvents Market Share

Key Market Players & Competitive Landscape

The major players operating Solvents market are Dow Chemical Company, Sasol Solvents, BASF SE, Celanese Corporation, Maruzen Petrochemical, Ashland Inc., Honeywell International Inc., Eastman Chemical Company, Ineos A.G., Exxon Mobil Corporation, Shell Chemical, and Solvay Chemicals among others.   

Global Solvents Market Regional Analysis

 The global Solvents Market is segmented as follows:

By Type

  • Alcohols
  • Hydrocarbons
  • Ketones
  • Esters
  • Chlorinated
  • Others

By End Users  

  • Cleaning Products
  • Paints and Coatings
  • Printing Inks
  • Pharmaceuticals
  • Adhesives and Cosmetics
  • Others

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

  • Chapter No. 1 Introduction
    • 1.1. Report Description
      • 1.1.1. Purpose of the Report
      • 1.1.2. USP & Key Offerings
    • 1.2. Key Benefits for Stakehulders
    • 1.3. Target Audience
    • 1.4. Report Scope
  • Chapter No. 2 Executive Summary
    • 2.1. Key Findings
      • 2.1.1. Top Investment Pockets
        • 2.1.1.1. Market Attractiveness Analysis, By Type
        • 2.1.1.2. Market Attractiveness Analysis, By End Users
        • 2.1.1.3. Market Attractiveness Analysis, By Region
    • 2.2. Market Snapshot
    • 2.3. Global Sulvents Market, 2016 – 2028 (USD Billion)
    • 2.4. Insights from Primary Respondents
  • Chapter No. 3 COVID 19 Impact Analysis
    • 3.1. Impact Assessment of COVID-19 Pandemic, By Region
      • 3.1.1. North America
      • 3.1.2. Europe
      • 3.1.3. Asia Pacific
      • 3.1.4. Latin America
      • 3.1.5. The Middle-East and Africa
    • 3.2. Quarterly Market Revenue and Forecast by Region 2020 & 2021
    • 3.3. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
    • 3.4. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
    • 3.5. Key Strategies Undertaken by Companies to Tackle COVID-19
      • 3.5.1. Company Quarterly Revenue Analysis, 2019 & 2020
    • 3.6. Short Term Dynamics
    • 3.7. Long Term Dynamics
  • Chapter No. 4 Sulvents Market – Type Segment Analysis
    • 4.1. Overview
      • 4.1.1. Market Revenue Share, By Type, 2020 & 2028
    • 4.2. Alcohuls
      • 4.2.1. Market Size and Forecast, By Region (USD Billion)
      • 4.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.3. Hydrocarbons
      • 4.3.1. Market Size and Forecast, By Region (USD Billion)
      • 4.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.4. Ketones
      • 4.4.1. Market Size and Forecast, By Region (USD Billion)
      • 4.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.5. Esters
      • 4.5.1. Market Size and Forecast, By Region (USD Billion)
      • 4.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.6. Chlorinatedes
      • 4.6.1. Market Size and Forecast, By Region (USD Billion)
      • 4.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 4.7. Others
      • 4.7.1. Market Size and Forecast, By Region (USD Billion)
      • 4.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 4.7.3. Key Market Trends, Growth Factors, & Opportunities
  • Chapter No. 5 Sulvents Market – End Users Segment Analysis
    • 5.1. Overview
      • 5.1.1. Market Revenue Share, By End Users, 2020 & 2028
    • 5.2. Cleaning Products
      • 5.2.1. Market Size and Forecast, By Region (USD Billion)
      • 5.2.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.2.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.3. Paints and Coatings
      • 5.3.1. Market Size and Forecast, By Region (USD Billion)
      • 5.3.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.3.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.4. Printing Inks
      • 5.4.1. Market Size and Forecast, By Region (USD Billion)
      • 5.4.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.4.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.5. Pharmaceuticals
      • 5.5.1. Market Size and Forecast, By Region (USD Billion)
      • 5.5.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.5.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.6. Adhesives and Cosmetics
      • 5.6.1. Market Size and Forecast, By Region (USD Billion)
      • 5.6.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.6.3. Key Market Trends, Growth Factors, & Opportunities
    • 5.7. Others
      • 5.7.1. Market Size and Forecast, By Region (USD Billion)
      • 5.7.2. Comparative Revenue Analysis, By Country, 2020 & 2028
      • 5.7.3. Key Market Trends, Growth Factors, & Opportunities
    • 6.1. Overview
      • 6.1.1. Global Market Revenue Share, By Region, 2020 & 2028
      • 6.1.2. Global Market Revenue, By Region, 2016 – 2028 (USD Billion)
    • 6.2. North America
      • 6.2.1. North America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.2.2. North America Market Revenue, By Type, 2016 – 2028
      • 6.2.3. North America Market Revenue, By End Users, 2016 – 2028
      • 6.2.5. U.S.
        • 6.2.5.1. U.S. Market Revenue, By Type, 2016 – 2028
        • 6.2.5.2. U.S. Market Revenue, By End Users, 2016 – 2028
      • 6.2.6. Canada
        • 6.2.6.1. Canada Market Revenue, By Type, 2016 – 2028
        • 6.2.6.2. Canada Market Revenue, By End Users, 2016 – 2028
      • 6.2.7. Mexico
        • 6.2.7.1. Mexico Market Revenue, By Type, 2016 – 2028
        • 6.2.7.2. Mexico Market Revenue, By End Users, 2016 – 2028
    • 6.3. Europe
      • 6.3.1. Europe Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.3.2. Europe Market Revenue, By Type, 2016 – 2028
      • 6.3.3. Europe Market Revenue, By End Users, 2016 – 2028
      • 6.3.5. Germany
        • 6.3.5.1. Germany Market Revenue, By Type, 2016 – 2028
        • 6.3.5.2. Germany Market Revenue, By End Users, 2016 – 2028
      • 6.3.6. France
        • 6.3.6.1. France Market Revenue, By Type, 2016 – 2028
        • 6.3.6.2. France Market Revenue, By End Users, 2016 – 2028
      • 6.3.7. U.K.
        • 6.3.7.1. U.K. Market Revenue, By Type, 2016 – 2028
        • 6.3.7.2. U.K. Market Revenue, By End Users, 2016 – 2028
      • 6.3.8. Italy
        • 6.3.8.1. Italy Market Revenue, By Type, 2016 – 2028
        • 6.3.8.2. Italy Market Revenue, By End Users, 2016 – 2028
      • 6.3.9. Spain
        • 6.3.9.1. Spain Market Revenue, By Type, 2016 – 2028
        • 6.3.9.2. Spain Market Revenue, By End Users, 2016 – 2028
      • 6.3.10. Rest of Europe
        • 6.3.10.1. Rest of Europe Market Revenue, By Type, 2016 – 2028
        • 6.3.10.2. Rest of Europe Market Revenue, By End Users, 2016 – 2028
    • 6.4. Asia Pacific
      • 6.4.1. Asia Pacific Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.4.2. Asia Pacific Market Revenue, By Type, 2016 – 2028
      • 6.4.3. Asia Pacific Market Revenue, By End Users, 2016 – 2028
      • 6.4.5. China
        • 6.4.5.1. China Market Revenue, By Type, 2016 – 2028
        • 6.4.5.2. China Market Revenue, By End Users, 2016 – 2028
      • 6.4.6. Japan
        • 6.4.6.1. Japan Market Revenue, By Type, 2016 – 2028
        • 6.4.6.2. Japan Market Revenue, By End Users, 2016 – 2028
      • 6.4.7. India
        • 6.4.7.1. India Market Revenue, By Type, 2016 – 2028
        • 6.4.7.2. India Market Revenue, By End Users, 2016 – 2028
      • 6.4.8. South Korea
        • 6.4.8.1. South Korea Market Revenue, By Type, 2016 – 2028
        • 6.4.8.2. South Korea Market Revenue, By End Users, 2016 – 2028
      • 6.4.9. South-East Asia
        • 6.4.9.1. South-East Asia Market Revenue, By Type, 2016 – 2028
        • 6.4.9.2. South-East Asia Market Revenue, By End Users, 2016 – 2028
      • 6.4.10. Rest of Asia Pacific
        • 6.4.10.1. Rest of Asia Pacific Market Revenue, By Type, 2016 – 2028
        • 6.4.10.2. Rest of Asia Pacific Market Revenue, By End Users, 2016 – 2028
    • 6.5. Latin America
      • 6.5.1. Latin America Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.5.2. Latin America Market Revenue, By Type, 2016 – 2028
      • 6.5.3. Latin America Market Revenue, By End Users, 2016 – 2028
      • 6.5.5. Brazil
        • 6.5.5.1. Brazil Market Revenue, By Type, 2016 – 2028
        • 6.5.5.2. Brazil Market Revenue, By End Users, 2016 – 2028
      • 6.5.6. Argentina
        • 6.5.6.1. Argentina Market Revenue, By Type, 2016 – 2028
        • 6.5.6.2. Argentina Market Revenue, By End Users, 2016 – 2028
      • 6.5.7. Rest of Latin America
        • 6.5.7.1. Rest of Latin America Market Revenue, By Type, 2016 – 2028
        • 6.5.7.2. Rest of Latin America Market Revenue, By End Users, 2016 – 2028
    • 6.6. The Middle-East and Africa
      • 6.6.1. The Middle-East and Africa Market Revenue, By Country, 2016 – 2028 (USD Billion)
      • 6.6.2. The Middle-East and Africa Market Revenue, By Type, 2016 – 2028
      • 6.6.3. The Middle-East and Africa Market Revenue, By End Users, 2016 – 2028
      • 6.6.5. GCC Countries
        • 6.6.5.1. GCC Countries Market Revenue, By Type, 2016 – 2028
        • 6.6.5.2. GCC Countries Market Revenue, By End Users, 2016 – 2028
      • 6.6.6. South Africa
        • 6.6.6.1. South Africa Market Revenue, By Type, 2016 – 2028
        • 6.6.6.2. South Africa Market Revenue, By End Users, 2016 – 2028
      • 6.6.7. Rest of Middle-East Africa
        • 6.6.7.1. Rest of Middle-East Africa Market Revenue, By Type, 2016 – 2028
        • 6.6.7.2. Rest of Middle-East Africa Market Revenue, By End Users, 2016 – 2028
  • Chapter No. 7: Sulvents Market – Industry Analysis
    • 7.1. Introduction
    • 7.2. Market Drivers
      • 7.2.1. Driving Factor 1 Analysis
      • 7.2.2. Driving Factor 2 Analysis
    • 7.3. Market Restraints
      • 7.3.1. Restraining Factor Analysis
    • 7.4. Market Opportunities
      • 7.4.1. Market Opportunity Analysis
    • 7.5. Porter’s Five Forces Analysis
    • 7.6. PEST Analysis
    • 7.7. Regulatory Landscape
    • 7.8. Type Landscape
    • 7.9. Regional Market Trends
      • 7.9.1. North America
      • 7.9.2. Europe
      • 7.9.3. Asia Pacific
      • 7.9.4. Latin America
      • 7.9.5. The Middle-East and Africa
    • 7.10. Pricing Analysis
    • 7.11. Value Chain Analysis
    • 7.12. Downstream Buyers
    • 7.13. Distributors/Traders List
  • Chapter No. 8: Competitive Landscape
    • 8.1. Company Market Share Analysis – 2019
      • 8.1.1. Global Sulvents Market: Company Market Share, 2019
      • 8.1.2. Global Sulvents Market, Company Market Revenue, 2016 – 2019 (USD Billion)
      • 8.1.3. Global Sulvents Market, Company Y-o-Y Growth, 2017 – 2019 (%)
      • 8.1.4. Global Sulvents Market: Radar Determinant Chart, 2019
    • 8.2. Strategic Developments
      • 8.2.1. Acquisitions & Mergers
      • 8.2.2. New Product Launch
      • 8.2.3. Regional Expansion
    • 8.3. Company Strategic Developments – Heat Map Analysis
  • Chapter No. 9: Company Profiles
    • 9.1. Dow Chemical Company
      • 9.1.1. Company Overview
      • 9.1.2. Key Executives
      • 9.1.3. Product Portfolio
      • 9.1.4. Financial Overview
      • 9.1.5. Operating Business Segments
      • 9.1.6. Business Performance
      • 9.1.7. Recent Developments
    • 9.2. Sasul Sulvents
    • 9.3. BASF SE
    • 9.4. Celanese Corporation
    • 9.5. Maruzen Petrochemical
    • 9.6. Ashland Inc
    • 9.7. Honeywell International Inc
    • 9.8. Eastman Chemical Company
    • 9.9. Ineos A.G
    • 9.10. Exxon Mobil Corporation
  • Chapter No. 10: Marketing Strategy Analysis
    • 10.1. Marketing Channel
    • 10.2. Direct Marketing
    • 10.3. Indirect Marketing
    • 10.4. Marketing Channel Development Trends
    • 10.5. Economic/Pulitical Environmental Change
  • Chapter No. 11: Research Methodology
    • 11.1. Research Methodology
    • 11.2. Phase I - Secondary Research
    • 11.3. Phase II - Data Modeling
      • 11.3.1. Company Share Analysis Model
      • 11.3.2. Revenue Based Modeling
    • 11.4. Phase III - Primary Research
    • 11.5. Research Limitations
      • 11.5.1. Assumptions

Table Of Figures

List of Figures 

FIG NO. 1. Market Attractiveness Analysis, By Type
FIG NO. 2. Market Attractiveness Analysis, By End Users
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Solvents Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Type, 2020 & 2028 
FIG NO. 7. Global Solvents Market for Alcohols, Revenue (USD Billion) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Solvents Market for Alcohols, By Country, 2020 & 2028
FIG NO. 9. Global Solvents Market for Hydrocarbons, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Solvents Market for Hydrocarbons, By Country, 2020 & 2028
FIG NO. 11. Global Solvents Market for Ketones, Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Solvents Market for Ketones, By Country, 2020 & 2028
FIG NO. 13. Global Solvents Market for Esters, Revenue (USD Billion) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Solvents Market for Esters, By Country, 2020 & 2028
FIG NO. 15. Global Solvents Market for Chlorinated, Revenue (USD Billion) 2016 – 2028
FIG NO. 16. Comparative Revenue Analysis of Solvents Market for Chlorinated, By Country, 2020 & 2028
FIG NO. 17. Global Solvents Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 18. Comparative Revenue Analysis of Solvents Market for Others, By Country, 2020 & 2028
FIG NO. 19. Market Revenue Share, By End Users, 2020 & 2028
FIG NO. 20. Global Solvents Market for Cleaning Products, Revenue (USD Billion) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Solvents Market for Cleaning Products, By Country, 2020 & 2028 
FIG NO. 22. Global Solvents Market for Paints and Coatings, Revenue (USD Billion) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Solvents Market for Paints and Coatings, By Country, 2020 & 2028
FIG NO. 24. Global Solvents Market for Printing Inks, Revenue (USD Billion) 2016 – 2028 
FIG NO. 25. Comparative Revenue Analysis of Solvents Market for Printing Inks, By Country, 2020 & 2028
FIG NO. 26. Global Solvents Market for Pharmaceuticals, Revenue (USD Billion) 2016 – 2028
FIG NO. 27. Comparative Revenue Analysis of Solvents Market for Pharmaceuticals, By Country, 2020 & 2028
FIG NO. 28. Global Solvents Market for Adhesives and Cosmetics, Revenue (USD Billion) 2016 – 2028
FIG NO. 29. Comparative Revenue Analysis of Solvents Market for Adhesives and Cosmetics, By Country, 2020 & 2028
FIG NO. 30. Global Solvents Market for Others, Revenue (USD Billion) 2016 – 2028
FIG NO. 31. Comparative Revenue Analysis of Solvents Market for Others, By Country, 2020 & 2028
FIG NO. 32. Global Solvents Market Revenue Share, By Region, 2020 & 2028
FIG NO. 33. North America Solvents Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 34. Porter’s Five Forces Analysis for Global Solvents Market
FIG NO. 35. PEST Analysis for Global Solvents Market
FIG NO. 36. Pricing Analysis for Global Solvents Market
FIG NO. 37. Value Chain Analysis for Global Solvents Market
FIG NO. 38. Company Share Analysis, 2019
FIG NO. 39. Radar Determinant Chart, 2019
FIG NO. 40. Company Strategic Developments – Heat Map Analysis
FIG NO. 41. Dow Chemical Company Business Segment Revenue Share, 2020 (%)
FIG NO. 42. Dow Chemical Company Geographical Segment Revenue Share, 2020 (%)
FIG NO. 43. Market Channels 
FIG NO. 44. Marketing Channel Development Trend
FIG NO. 45. Growth in World Gross Product, 2008-2018
FIG NO. 46. Research Methodology – Detailed View
FIG NO. 47. Research Methodology


Table Of Tables

List of Tables 

TABLE NO. 1. Global Solvents Market: Snapshot
TABLE NO. 2. Quarterly Solvents Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Solvents Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion) 
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion) 
TABLE NO. 6. Global Solvents Market for Alcohols, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Solvents Market for Hydrocarbons, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Solvents Market for Ketones, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Solvents Market for Esters, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Solvents Market for Chlorinated, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11. Global Solvents Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12: Global Solvents Market for Cleaning Products, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13: Global Solvents Market for Paints and Coatings, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14. Global Solvents Market for Printing Inks, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. Global Solvents Market for Pharmaceuticals, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 16. Global Solvents Market for Adhesives and Cosmetics, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 17. Global Solvents Market for Others, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 18. Global Solvents Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 19: North America Solvents Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 20. North America Solvents Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 21: North America Solvents Market Revenue, By End Users, 2016 – 2028 (USD Billion)
TABLE NO. 22. U.S. Solvents Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 23. U.S. Solvents Market Revenue, By End Users, 2016 – 2028 (USD Billion)
TABLE NO. 24. Canada Solvents Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 25. Canada Solvents Market Revenue, By End Users, 2016 – 2028 (USD Billion)
TABLE NO. 26. Mexico Solvents Market Revenue, By Type, 2016 – 2028 (USD Billion)
TABLE NO. 27. Mexico Solvents Market Revenue, By End Users, 2016 – 2028 (USD Billion)
TABLE NO. 28. Drivers for the Solvents Market: Impact Analysis
TABLE NO. 29. Restraints for the Solvents Market: Impact Analysis
TABLE NO. 30. Major Buyers of Solvents  
TABLE NO. 31. Distributors/Traders List of Solvents 
TABLE NO. 32. Global Solvents Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 33: Global Solvents Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)   
 

Methodology

This report is based on in-depth qualitative and quantitative analyses of the global Industrial Solvents market. Zion Research has collected and analyzed key data belong to the global Industrial Solvents market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.

The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined after conducting a detailed study of the micro and macroeconomic indicators of the market.

Various parameters have been taken into account while estimating market size. The revenue generated by the leading industry participants in from the sales of Industrial Solvents across the world has been calculated through primary and secondary research.

Zion Research employs the combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include STATISTA, trade journals, trade associations, statistical data from government websites, etc. 

For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assisted in the validation of findings from secondary research and to understand key trends in the Industrial Solvents industry. Primary research makes up the major source of data collection and validation.   

Primary Research

We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:

  • Provides firsthand information on market size, market trends, growth trends, competitive landscape, outlook, etc.
  • Helps in validating and strengthening the secondary research findings
  • Further, develops the analysis team’s expertise and market understanding
  • Primary research involves e-mail interactions, telephonic interviews as well as face-to-face interviews for each market, category, segment, and sub-segment across geographies

Participants who typically participate in such a process include, but are not limited to:

  • Industry participants: CEOs, VPs, marketing/product managers, market intelligence managers and national sales managers
  • Purchasing managers, technical personnel, distributors and resellers
  • Outside experts: Investment bankers, valuation experts, and research analysts specializing in specific markets

Key opinion leaders specializing in different areas corresponding to different industry verticals

Secondary Research

Secondary research sources that are typically referred to include, but are not limited to:

  • Company websites, annual reports, financial reports, broker reports, investor presentations and SEC filings
  • IDC and other relevant magazines
  • Internal and external proprietary databases, and relevant patent and regulatory databases
  • National government documents, statistical databases, and market reports

News articles, press releases, and webcasts specific to companies operating in the market

Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Industrial Solvents market.

Models

Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:

  • Demographic data: Population split by segments
  • Macroeconomic indicators: GDP, PPP, Per Capita Income, etc.
  • Industry indicators: Expenditure, technology stage, and infrastructure, sector growth and facilities
  • Data is then cross-checked by an expert panel.

Free Analysis

The solvent is an organic chemical in form of liquid. It mostly becomes become liquid after dissolving gaseous, solid and liquid solutes together. They are also available in solid and gasses states. Solvents are the vital auxiliary ingredient that is widely used in industrial production processes. They are extensively used in paints, coatings, adhesives, sealants, printing inks and varnishes. Solvents are immensely utilized in various industries such as pharmaceuticals, chemicals, packaging, paints & coatings, cosmetics, and cleaners among others.

The solvents market is primarily driven by increasing construction and automotive industry across the globe. Rapidly rising demand for solvents especially in emerging economies such as China, India, and Brazil is expected to boom the market size of solvents in the near future. However, environmental concerns may impede the market growth. Nonetheless, increasing demand for green and bio-based solvents is likely to open new opportunities for the major vendors of the market during the years to come.

Global-Solvents-Market

Based on types of solvents, the global solvents market is bifurcated into alcohols, hydrocarbons, ketones, esters, chlorinated and others. Among these types, alcohol was the leading segment of the global solvents market in 2016. It held for above 30% share of the entire market in 2016 and furthermore, this trend is likely to continue in the near future. Growing demand for ethanol and methanol in the cosmetic industry coupled with rising usage of isopropanol as a drying and cleaning agent in the semiconductor industry is likely to drive the demand for alcohols over the years to come. Hydrocarbon was the second largest segment of the market in the same year. Hydrocarbon and esters are important types of solvents that are predicted to have the positive influence on the market margin during the next few years.

Cleaning products, paints & coating, printing ink, pharmaceutical, adhesives, cosmetics and others are major end-uses of solvents market. In 2016, paints & coatings segment was the most attractive end-use of the global solvents market, that accounted for more than 35% share of total volume consumption. Growing use of paints & coatings in automotive and construction industries is expected to gain high-profit margins of solvents industry in the near future. Moreover, cleaning products, cosmetics, and pharmaceutical segments are projected to experience significant growth over the coming years. Growing packaging industry is also attributed to growing the use of printing ink. Furthermore, rising demand for cosmetic products is projected to influence the market growth during the next few years.

Asia Pacific emerged as largest market of solvents that accounted for above 40.0% share of the total market in 2016. It is also predicted to be the fastest-growing market of solvents over the forthcoming years due to the growing consumption of solvents in paints and coating applications. Growing construction and automotive sector in countries such as China and India are likely to witness the exponential expansion of solvents market in the region during the coming years. Europe was the second largest market of solvents in the same year. North America is projected to have decent growth in the next few years. Additionally, Latin America and Middle East & Africa are projected to grow at a high CAGR within the forecast period.

Key players of solvents market are Dow Chemical Company, Sasol Solvents, BASF SE, Celanese Corporation, Maruzen Petrochemical, Ashland Inc., Honeywell International Inc., Eastman Chemical Company, Ineos A.G., Exxon Mobil Corporation, Shell Chemical, and Solvay Chemicals among others.

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FrequentlyAsked Questions

The global Solvents Market was valued at USD 28.2 Billion in 2020.

The global Solvents Market is expected to reach USD 40.9 Billion by 2028, growing at a CAGR of 4.6% between 2021 to 2028.  

Some of the key factors driving the global Solvents Market growth are Increasing Requirement For Solvents For Different Applications, and Developing automotive and pharma sectors all over the world.

 

Asia Pacific ruled the global solvents market in 2016 and it is also expected to be the quickest developing market in the years to come. Up-and-coming markets in Asia-Pacific are expected to offer the great scope to the key players in the global solvents market in the years to come. Asia Pacific was chased by North America and Europe for the global solvents market in the same year. These both regions are mature areas for global solvents market. Hence, they are anticipated to see a stagnant development for the global solvents market in the years to come.  

Some of the major players of global Solvents market includes Dow Chemical Company, Sasol Solvents, BASF SE, Celanese Corporation, Maruzen Petrochemical, Ashland Inc., Honeywell International Inc., Eastman Chemical Company, Ineos A.G., Exxon Mobil Corporation, Shell Chemical, and Solvay Chemicals among others.

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