PUBLISHER: IMARC | PRODUCT CODE: 1298686
PUBLISHER: IMARC | PRODUCT CODE: 1298686
Solvent Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028
The global solvent market size reached US$ 46.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 60.4 Billion by 2028, exhibiting a growth rate (CAGR) of 4.3% during 2023-2028.
Solvents refer to chemical substances that can dissolve, disperse or extract other materials to form a solution without changing them chemically. They usually have an unpleasant odor and are highly volatile and flammable, except for chlorinated solvents. Solvents are generally liquids; however, they can also be in solid or gaseous form and are available in conventional and organic variants. They are widely utilized as cleaning and degreasing agents and as ingredients in products, such as spot removers, printing inks, varnishes, adhesives, cosmetics, perfumes, detergents, paint thinners, and nail polish removers.
Solvent Market Trends:
The increasing product applications in various end use industries represent the primary factor driving the market growth. For instance, solvents are used in paints and coatings to dissolve colors and binders, provide consistency, and find huge applications in pharmaceutical drug manufacturing processes. Additionally, there has been a substantial rise in the product usage in household cleaning and personal care products. Along with this, the widespread adoption of solvents in pesticide formulations is catalyzing the product demand. Furthermore, with the rising environmental concerns, consumers are increasingly shifting toward eco-friendly and organic products, which pose little or no hazards to the environment and human health. As a result, several leading manufacturers are making heavy investments and entering into collaborations with the top biotechnology companies to launch green and bio-based solvents to achieve sustainability. Moreover, the emerging solvent applications in chemical manufacturing processes, cooling circuits, dry-cleaning, and deicers are propelling the market growth. Other factors, including rapid industrialization and urbanization, stringent government regulations to use green solvents, ongoing research and development (R&D) activities, and technological advancements, are also providing a positive thrust to the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global solvent market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product, source and application.
Breakup by Product:
Alcohols
Hydrocarbons
Ketones
Esters
Chlorinated
Others
Breakup by Source:
Petrochemical-based
Bio and Green
Breakup by Application:
Paints and Coatings
Printing Inks
Pharmaceuticals
Cosmetics and Adhesives
Others
Breakup by Region:
North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Archer-Daniels-Midland Company, Ashland Inc., BASF SE, Bharat Petroleum Corporation Limited, bp p.l.c., Celanese Corporation, Dow Inc., Eastman Chemical Company, Exxon Mobil Corporation, Honeywell International Inc., Huntsman Corporation, LyondellBasell Industries N.V., Royal Dutch Shell plc, Sasol Limited and Solvay S.A.
Key Questions Answered in This Report
1. What was the size of the global solvent market in 2022?
2. What is the expected growth rate of the global solvent market during 2023-2028?
3. What are the key factors driving the global solvent market?
4. What has been the impact of COVID-19 on the global solvent market
5. What is the breakup of the global solvent market based on the product?
6. What is the breakup of the global solvent market based on the source
7. What is the breakup of the global solvent market based on the application?
8. What are the key regions in the global solvent market?
9. Who are the key players/companies in the global solvent market?
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global Solvent Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Product
- 6.1 Alcohols
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Hydrocarbons
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Ketones
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Esters
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Chlorinated
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 6.6 Others
- 6.6.1 Market Trends
- 6.6.2 Market Forecast
7 Market Breakup by Source
- 7.1 Petrochemical-based
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 Bio and Green
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by Application
- 8.1 Paints and Coatings
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Printing Inks
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Pharmaceuticals
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Cosmetics and Adhesives
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Others
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia-Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Archer-Daniels-Midland Company
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.1.3 Financials
- 14.3.1.4 SWOT Analysis
- 14.3.2 Ashland Inc.
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.2.3 Financials
- 14.3.2.4 SWOT Analysis
- 14.3.3 BASF SE
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.3.3 Financials
- 14.3.3.4 SWOT Analysis
- 14.3.4 Bharat Petroleum Corporation Limited
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.4.4 SWOT Analysis
- 14.3.5 bp p.l.c.
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 Celanese Corporation
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.6.3 Financials
- 14.3.6.4 SWOT Analysis
- 14.3.7 Dow Inc.
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.7.3 Financials
- 14.3.7.4 SWOT Analysis
- 14.3.8 Eastman Chemical Company
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.8.3 Financials
- 14.3.8.4 SWOT Analysis
- 14.3.9 Exxon Mobil Corporation
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 Honeywell International Inc.
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.11 Huntsman Corporation
- 14.3.11.1 Company Overview
- 14.3.11.2 Product Portfolio
- 14.3.11.3 Financials
- 14.3.11.4 SWOT Analysis
- 14.3.12 LyondellBasell Industries N.V.
- 14.3.12.1 Company Overview
- 14.3.12.2 Product Portfolio
- 14.3.12.3 Financials
- 14.3.12.4 SWOT Analysis
- 14.3.13 Royal Dutch Shell plc
- 14.3.13.1 Company Overview
- 14.3.13.2 Product Portfolio
- 14.3.13.3 Financials
- 14.3.14 Sasol Limited
- 14.3.14.1 Company Overview
- 14.3.14.2 Product Portfolio
- 14.3.14.3 Financials
- 14.3.14.4 SWOT Analysis
- 14.3.15 Solvay S.A.
- 14.3.15.1 Company Overview
- 14.3.15.2 Product Portfolio
- 14.3.15.3 Financials
- 14.3.15.4 SWOT Analysis
- 14.3.1 Archer-Daniels-Midland Company
List of Figures
- Figure 1: Global: Solvent Market: Major Drivers and Challenges
- Figure 2: Global: Solvent Market: Sales Value (in Billion US$), 2017-2022
- Figure 3: Global: Solvent Market Forecast: Sales Value (in Billion US$), 2023-2028
- Figure 4: Global: Solvent Market: Breakup by Product (in %), 2022
- Figure 5: Global: Solvent Market: Breakup by Source (in %), 2022
- Figure 6: Global: Solvent Market: Breakup by Application (in %), 2022
- Figure 7: Global: Solvent Market: Breakup by Region (in %), 2022
- Figure 8: Global: Solvent (Alcohols) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 9: Global: Solvent (Alcohols) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 10: Global: Solvent (Hydrocarbons) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 11: Global: Solvent (Hydrocarbons) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 12: Global: Solvent (Ketones) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 13: Global: Solvent (Ketones) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 14: Global: Solvent (Esters) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 15: Global: Solvent (Esters) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 16: Global: Solvent (Chlorinated) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 17: Global: Solvent (Chlorinated) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 18: Global: Solvent (Other Products) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 19: Global: Solvent (Other Products) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 20: Global: Solvent (Petrochemical-based) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 21: Global: Solvent (Petrochemical-based) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 22: Global: Solvent (Bio and Green) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 23: Global: Solvent (Bio and Green) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 24: Global: Solvent (Paints and Coatings) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 25: Global: Solvent (Paints and Coatings) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 26: Global: Solvent (Printing Inks) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 27: Global: Solvent (Printing Inks) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 28: Global: Solvent (Pharmaceuticals) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 29: Global: Solvent (Pharmaceuticals) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 30: Global: Solvent (Cosmetics and Adhesives) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 31: Global: Solvent (Cosmetics and Adhesives) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 32: Global: Solvent (Other Applications) Market: Sales Value (in Million US$), 2017 & 2022
- Figure 33: Global: Solvent (Other Applications) Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 34: North America: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 35: North America: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 36: United States: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 37: United States: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 38: Canada: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 39: Canada: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 40: Asia-Pacific: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 41: Asia-Pacific: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 42: China: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 43: China: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 44: Japan: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 45: Japan: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 46: India: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 47: India: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 48: South Korea: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 49: South Korea: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 50: Australia: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 51: Australia: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 52: Indonesia: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 53: Indonesia: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 54: Others: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 55: Others: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 56: Europe: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 57: Europe: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 58: Germany: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 59: Germany: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 60: France: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 61: France: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 62: United Kingdom: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 63: United Kingdom: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 64: Italy: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 65: Italy: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 66: Spain: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 67: Spain: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 68: Russia: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 69: Russia: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 70: Others: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 71: Others: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 72: Latin America: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 73: Latin America: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 74: Brazil: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 75: Brazil: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 76: Mexico: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 77: Mexico: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 78: Others: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 79: Others: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 80: Middle East and Africa: Solvent Market: Sales Value (in Million US$), 2017 & 2022
- Figure 81: Middle East and Africa: Solvent Market: Breakup by Country (in %), 2022
- Figure 82: Middle East and Africa: Solvent Market Forecast: Sales Value (in Million US$), 2023-2028
- Figure 83: Global: Solvent Industry: SWOT Analysis
- Figure 84: Global: Solvent Industry: Value Chain Analysis
- Figure 85: Global: Solvent Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: Solvent Market: Key Industry Highlights, 2022 and 2028
- Table 2: Global: Solvent Market Forecast: Breakup by Product (in Million US$), 2023-2028
- Table 3: Global: Solvent Market Forecast: Breakup by Source (in Million US$), 2023-2028
- Table 4: Global: Solvent Market Forecast: Breakup by Application (in Million US$), 2023-2028
- Table 5: Global: Solvent Market Forecast: Breakup by Region (in Million US$), 2023-2028
- Table 6: Global: Solvent Market: Competitive Structure
- Table 7: Global: Solvent Market: Key Players
