Market Research Report
Global Aprotic Solvents Market - Forecasts from 2022 to 2027
|Global Aprotic Solvents Market - Forecasts from 2022 to 2027|
Published: March 9, 2022
Knowledge Sourcing Intelligence
Content info: 119 Pages
Delivery time: 1-2 business days
The global aprotic solvents market was valued at US$14.265 billion in 2020 and is expected to grow at a CAGR of 3.47% over the forecast period to reach a total market size of US$18.112 billion by 2027.
Protic means "proton," while aprotic means "no proton." Aprotic solvents are those that lack a hydrogen atom or bond. Aprotic solvents have high dielectric constants as well as high dipole moments. They do not, however, engage in hydrogen bonding. Because of their strong polarity, they may dissolve charged species such as anions and nucleophiles. As a result, these solvents are more reactive.
Growing demand for environmentally friendly solutions, increasing usage of solvents due to advanced features such as high relative permittivity, low reactivity, and thermal stability, as well as the use of aprotic solvents in gas production and oil refining, the presence of a large pharmaceutical industry, and an increase in product extensions in terms of technological innovation are all factors.
On the other hand, rising stringent environmental regulations, as well as rapid development in the pharmaceutical industry, which is considered the fastest-growing application sector, will further contribute by generating immense opportunities, leading to the growth of the aprotic solvent market in the above-mentioned projected timeframe. Volatility in raw material costs, as well as rigorous regime requirements, are expected to function as market constraints for the expansion of aprotic solvent.
The Asia-Pacific region is expected to be the dominant regional market for aprotic solvents. Factors such as rising use in the pharmaceutical, paint, and oil and gas industries are expected to fuel market expansion. According to the Department for Promotion of Industry and Internal Trade (DPIIT), between April 2000 and June 2021, Indian pharmaceuticals attracted USD 18,121 million in FDI financial inflows. According to the International Association of Oil and Gas Producers, Asia-Pacific oil output is 7.9 million barrels per day. China is by far the largest oil producer in the Asia-Pacific region. Its 3.8 million barrels per day of output gives it a 49% share of the region's total. Indonesia owned 12% of the company, India owned 11%, and Malaysia owned 9%.
The oil and gas industry is the dominant sector, and its demand is extensively driven by the increasing global demand for petroleum products. The usage of aprotic solvents in gas production and oil refining, as well as their various properties such as high relative permeability, low reactivity, and thermal stability, are projected to drive up demand for aprotic solvents. N-Methyl-2-Pyrrolidone (NMP) is one of the important products due to its ability to dissolve a wide spectrum of metals and is expected to see widespread use, particularly in the plastic and oil and gas sectors. Rising demand from rising nations such as Indonesia, China, South Korea, and India has resulted in the increasing use of aprotic solvents, which has boosted the market even more. As a result, demand for aprotic solvents is projected to rise in the oil and gas industry over the forecast period.
Because of their exceptional polarities and solubilities, dipolar aprotic solvents (DMSO, DMF, DMAc, NMP, and others) have been widely employed in chemical synthesis and pharmaceutical research, but most of them are not green due to their negative effects on human health and environmental hazards caused by their inherent toxicity, as well as large wastewater streams and high-energy-inputted processes. As a result, one of the most essential aspects of green chemistry is reducing or eliminating the use of such solvents.
The Impact of COVID-19 on the Global Aprotic Solvents Market:
The COVID-19 pandemic has had a detrimental impact on the global aprotic solvent market. Due to the lockdown and restrictions, there was very limited mobility for vehicles. Because of the lockdown, most factories were closed, resulting in reduced demand for energy and, as a result, a drop in world oil consumption. This has had a significant impact on the oil and gas industry, as well as the market for aprotic solvents. Furthermore, other end-user sectors, such as paints and coatings, adhesives, and plastics, were impacted by the COVID-19 outbreak since building operations were halted in most nations across the world. On the other hand, the easing of the lockdown and the opening of the markets are promising indications for the aprotic solvents market.
Oil & Gas
Paints and Coatings
Middle East and Africa