Solvents Global Market Report 2026

A solvent is a liquid capable of dissolving or dispersing one or more other compounds. A diverse array of solvents finds application as chemical intermediates, fuels, and constituents in a wide spectrum of products. They play a role in the formulation of paint, ink, coatings, household cleansers, spot removers, adhesives, nail polish removers, automotive products, and various other items.

The primary types of solvents include alcohols, hydrocarbons, ketones, esters, chlorinated solvents, and others. Alcohols, characterized by the presence of one or more hydroxyl (OH) groups attached to a carbon atom in an alkyl group, are a significant category. Ethanol, an alcohol solvent, is utilized to dissolve many organic compounds that are insoluble in water and is commonly found in fragrances and cosmetics. Solvents are categorized into oxygenated solvents, hydrocarbon solvents, halogenated solvents, and others, with sources including bio-based solvents and petrochemical-based solvents. Solvents are applied in various industries, including adhesives, paints and coatings, personal care, pharmaceuticals, and others.

Note that the outlook for this market is being affected by rapid changes in trade relations and tariffs globally. The report will be updated prior to delivery to reflect the latest status, including revised forecasts and quantified impact analysis. The report's Recommendations and Conclusions sections will be updated to give strategies for entities dealing with the fast-moving international environment.

Tariffs are affecting the solvents market by increasing costs of imported petrochemical feedstocks, bio-based raw materials, processing equipment, and logistics. Chemical producers in North America and Europe are most affected due to reliance on imported intermediates, while Asia-Pacific faces pricing pressure on export-oriented solvent production. These tariffs are increasing production costs and impacting pricing strategies. However, they are also encouraging domestic feedstock development, bio-based solvent innovation, and regional supply chain localization.

The solvents market research report is one of a series of new reports from The Business Research Company that provides solvents market statistics, including solvents industry global market size, regional shares, competitors with a solvents market share, detailed solvents market segments, market trends and opportunities, and any further data you may need to thrive in the solvents industry. This solvents market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The solvents market size has grown strongly in recent years. It will grow from $33.39 billion in 2025 to $35.34 billion in 2026 at a compound annual growth rate (CAGR) of 5.8%. The growth in the historic period can be attributed to expansion of chemical manufacturing industries, growth of paints and coatings sector, increasing pharmaceutical production, rising demand for industrial cleaning solutions, availability of petrochemical-based solvents.

The solvents market size is expected to see strong growth in the next few years. It will grow to $44.59 billion in 2030 at a compound annual growth rate (CAGR) of 6.0%. The growth in the forecast period can be attributed to increasing regulatory pressure on hazardous solvents, rising investments in sustainable chemistry, expansion of electric vehicle coatings demand, growing use in advanced manufacturing processes, increasing adoption of circular solvent management. Major trends in the forecast period include growing demand for low-voc and green solvents, rising adoption of bio-based solvents, expansion of solvents in pharmaceutical manufacturing, increased use in high-performance coatings, enhanced focus on solvent recovery and recycling.

The increasing use of cosmetics is expected to drive the growth of the solvents market. Cosmetics encompass a wide range of products applied to the body, face, hair, or nails to enhance or modify appearance. Solvents are used in cosmetics to dissolve and disperse ingredients, enabling formulations with desirable textures and application properties. They improve stability, spreadability, and shelf life, ensuring effective delivery of active ingredients and a pleasant sensory experience for consumers. For example, in 2023, according to the Cosmetic Toiletry & Perfumery Association (CTPA), a UK-based trade association, color cosmetics sales grew from 118,178 units in 2022 to 123,056 units in 2023, a 4.1% increase, while skincare products rose from 456,401 units in 2022 to 460,868 units in 2023, a 1.0% growth. Therefore, the rising use of cosmetics is propelling the solvents market.

Major companies in the solvents market are strategically focusing on developing sustainable products, such as sustainable ultra-pure solvents, showcasing the feasibility of producing high-quality solvents from recycled materials. A sustainable ultra-pure solvent is characterized not only by high purity but also by environmentally friendly and sustainable production methods. In January 2023, Clariter, a Luxembourg-based cleantech company, and TotalEnergies Fluids, a France-based energy and petroleum company, introduced a sustainable ultra-pure solvent derived from plastic waste. These ultra-pure solvents find application in demanding markets such as pharmaceuticals and cosmetics, requiring safe, colorless, odorless, and tasteless products meeting the highest pharmacopoeia-standard purity criteria.

In April 2023, INEOS Phenol, a manufacturer of phenol and acetone based in Switzerland, acquired Mitsui Phenol Singapore Co. Ltd. from Mitsui Chemicals Inc. for $330 million. This acquisition is intended to boost INEOS's production capabilities by adding over 1 million tonnes of annual production capacity, which includes substantial outputs of cumene, phenol, acetone, alpha-methyl styrene, and bisphenol. Mitsui Phenol Singapore Co. Ltd. is a chemical company located in Singapore that supplies solvents.

Major companies operating in the solvents market are BASF SE, Dow Inc., Exxon Mobil Chemical Company, Shell Chemicals, LyondellBasell Industries N.V., INEOS Group Limited, Arkema S.A., Eastman Chemical Company, Mitsubishi Chemical Group Corporation, Saudi Basic Industries Corporation (SABIC), Evonik Industries AG, Celanese Corporation, LG Chem Ltd., Formosa Plastics Corporation, Reliance Industries Limited, Braskem S.A., Sasol Limited, Covestro AG, Huntsman Corporation, Solvay S.A.

Asia-Pacific was the largest region in the solvents market in 2025 and is expected to be the fastest-growing region in the forecast period. The regions covered in the solvents market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

The countries covered in the solvents market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain

The solvents market consists of sales of organic solvents, inorganic solvents, protic solvents, and aprotic solvents. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Solvents Market Global Report 2026 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses solvents market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

• Gain a truly global perspective with the most comprehensive report available on this market covering 16 geographies.
• Assess the impact of key macro factors such as geopolitical conflicts, trade policies and tariffs, inflation and interest rate fluctuations, and evolving regulatory landscapes.
• Create regional and country strategies on the basis of local data and analysis.
• Identify growth segments for investment.
• Outperform competitors using forecast data and the drivers and trends shaping the market.
• Understand customers based on end user analysis.
• Benchmark performance against key competitors based on market share, innovation, and brand strength.
• Evaluate the total addressable market (TAM) and market attractiveness scoring to measure market potential.
• Suitable for supporting your internal and external presentations with reliable high-quality data and analysis
• Report will be updated with the latest data and delivered to you within 2-3 working days of order along with an Excel data sheet for easy data extraction and analysis.
• All data from the report will also be delivered in an excel dashboard format.

Where is the largest and fastest growing market for solvents ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward, including technological disruption, regulatory shifts, and changing consumer preferences? The solvents market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, total addressable market (TAM), market attractiveness score (MAS), competitive landscape, market shares, company scoring matrix, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

• The market characteristics section of the report defines and explains the market. This section also examines key products and services offered in the market, evaluates brand-level differentiation, compares product features, and highlights major innovation and product development trends.
• The supply chain analysis section provides an overview of the entire value chain, including key raw materials, resources, and supplier analysis. It also provides a list competitor at each level of the supply chain.
• The updated trends and strategies section analyses the shape of the market as it evolves and highlights emerging technology trends such as digital transformation, automation, sustainability initiatives, and AI-driven innovation. It suggests how companies can leverage these advancements to strengthen their market position and achieve competitive differentiation.
• The regulatory and investment landscape section provides an overview of the key regulatory frameworks, regularity bodies, associations, and government policies influencing the market. It also examines major investment flows, incentives, and funding trends shaping industry growth and innovation.
• The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
• The forecasts are made after considering the major factors currently impacting the market. These include the technological advancements such as AI and automation, Russia-Ukraine war, trade tariffs (government-imposed import/export duties), elevated inflation and interest rates.
• The total addressable market (TAM) analysis section defines and estimates the market potential compares it with the current market size, and provides strategic insights and growth opportunities based on this evaluation.
• The market attractiveness scoring section evaluates the market based on a quantitative scoring framework that considers growth potential, competitive dynamics, strategic fit, and risk profile. It also provides interpretive insights and strategic implications for decision-makers.
• Market segmentations break down the market into sub markets.
• The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth.
• Expanded geographical coverage includes Taiwan and Southeast Asia, reflecting recent supply chain realignments and manufacturing shifts in the region. This section analyzes how these markets are becoming increasingly important hubs in the global value chain.
• The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
• The company scoring matrix section evaluates and ranks leading companies based on a multi-parameter framework that includes market share or revenues, product innovation, and brand recognition.

Scope

• Markets Covered:1) By Type: Alcohols; Hydrocarbons; Ketones; Esters; Chlorinated; Other Types
• 2) By Category: Oxygenated Solvents; Hydrocarbon Solvents; Halogenated Solvents; Other Categories
• 3) By Source: Bio-Based Solvents; Petrochemicals-Based Solvents
• 4) By Application: Adhesives; Paints And Coatings; Personal Care; Pharmaceuticals; Other Applications
• Subsegments:
• 1) By Alcohols: Ethanol; Isopropanol; Methanol; Butanol; Other Alcohols
• 2) By Hydrocarbons: Aliphatic Hydrocarbons; Aromatic Hydrocarbons; Cycloaliphatic Hydrocarbons
• 3) By Ketones: Acetone; Methyl Ethyl Ketone (MEK); Other Ketones
• 4) By Esters: Ethyl Acetate; Butyl Acetate; Other Esters
• 5) By Chlorinated: Methylene Chloride; Chloroform; Other Chlorinated Solvents
• 6) By Other Types: Glycols; Ether Solvents; Specialty Solvents
• Companies Mentioned: BASF SE; Dow Inc.; Exxon Mobil Chemical Company; Shell Chemicals; LyondellBasell Industries N.V.; INEOS Group Limited; Arkema S.A.; Eastman Chemical Company; Mitsubishi Chemical Group Corporation; Saudi Basic Industries Corporation (SABIC); Evonik Industries AG; Celanese Corporation; LG Chem Ltd.; Formosa Plastics Corporation; Reliance Industries Limited; Braskem S.A.; Sasol Limited; Covestro AG; Huntsman Corporation; Solvay S.A.
• Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Taiwan; Russia; South Korea; UK; USA; Canada; Italy; Spain
• Regions: Asia-Pacific; South East Asia; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
• Time Series: Five years historic and ten years forecast.
• Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
• Data Segmentations: country and regional historic and forecast data, market share of competitors, market segments.
• Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
• Delivery Format: Word, PDF or Interactive Report
• + Excel Dashboard
• Added Benefits
• Bi-Annual Data Update
• Customisation
• Expert Consultant Support

Added Benefits available all on all list-price licence purchases, to be claimed at time of purchase. Customisations within report scope and limited to 20% of content and consultant support time limited to 8 hours.