Global Aprotic Solvents Market Report and Forecast 2024-2032

Global Aprotic Solvents Market Outlook

The global aprotic solvents market is expected to grow at a CAGR of 2.8% in the forecast period of 2024-2032 to reach a value of USD 28.56 billion by 2032.

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Thriving Pharmaceutical Sector to Aid the Aprotic Solvents Industry Growth

Based on application, the oil and gas industry accounted for a significant share in the market in 2021.  The rising demand for energy and petrochemicals has driven the growth of the segment. Further, the product is witnessing an increased demand from various application sectors like electronics and paints and coatings, among others. Over the forecast period, the thriving pharmaceutical industry is expected to further aid the market growth.

Growing Demand for Toluene to Augment the Growth of the Aprotic Solvents Industry

Based on solvent type, toluene is one of the leading aprotic solvents in the industry. The growth can be attributed to the rising demand for toluene in applications like paints and coatings and construction. Toluene is also used to produce benzene, xylene, and trinitrotoluene, which are further utilised in various industries, which, in turn, is anticipated to propel the growth of the toluene industry. Meanwhile, N-Methyl-2-pyrrolidone (NMP) is also witnessing an enhanced demand from the oil and gas industry owing to its properties, which will further boost the industry growth.

Region-wise, the Asia Pacific is one of the significant markets for the product owing to the expanding paints and coatings and pharmaceutical industries in the region. This is supported by the growing industrialisation and rapid development across emerging economies within the region.

Aprotic Solvents: Market Segmentation

Aprotic solvents refer to the solvents that lack the ability to donate hydrogen atom and do not possess acidic or basic groups. Aprotic solvents are known for their high dipole moment and polarity and the ability to stabilise ions. These solvents can be used with strong acids and reagents at high temperatures. Further, the high polarity of these solvents allows them to dissolve charged species, making them more reactive and useful.

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Based on source, the market is bifurcated into:

• Bio and Green
• Conventional

Based on solvent type, the industry can be segmented into:

• N-Methyl-2-Pyrrolidone
• Benzene
• Toluene
• Acetone
• Chloroform
• Others

The various applications of aprotic solvents are:

• Oil and Gas
• Plastics
• Pharmaceuticals
• Electronic Equipment
• Paints and Coatings
• Adhesives 
• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Growing End-Use Industries to Bolster the Growth of the Global Market for Aprotic Solvents

The growth of the major end use sectors of aprotic solvents is driving the growth of the industry. This is further supported by the rising product demand in emerging nations. Aprotic solvents are less reactive and possess high relative permittivity and thermal stability, and, thus, they are widely utilised in gas production and oil refining. The expanding applications of the product in pharmaceuticals, oil and gas, paints and coatings, and electronic sectors, among others, are driving the industry growth. Over the forecast period, the growing demand for green solvents and the growing R&D activities are expected to aid the industry growth. However, fluctuations in the cost of raw materials may restrain the growth of the industry in the coming years.

Key Industry Players in the Global Aprotic Solvents Market

The report gives a detailed analysis of the following key players in the global aprotic solvents market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• BASF SE
• Eastman Chemical Company
• Dow Chemical Company
• Ashland Global Holdings Inc.
• Mitsubishi Chemicals Corporation
• AlzChem Group AG
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report