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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Solvent Market Growth
The rise in the demand for solvents in the construction and agricultural industry creates an opportunity for the growth of the solvents industry. The increasing use of home and personal care products is driving the demand for solvents in both developed and developing countries. The mass madness of facial and skin care products is supposed to provide opportunities to increase the revenue for manufacturers and suppliers of personal care products, particularly in emerging economies.
High demand for solvents from the construction industry and from agricultural chemicals application is estimated to drive its markets during the forecast period. The construction industry is the backbone of rapid urbanisation and solvents plays a very important part in the constructed infrastructure; it acts as carriers for surface coatings. Solvents are very important to pesticides, and they are used to dictate the healthy growth of plants and vegetables. Solvents are used to extract oils and flavour from nuts, and it is certain that solvents are used extensively in agricultural products, most importantly in oils and spice extract.
Solvent Market Report Snapshots
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global solvent market is projected to grow at a CAGR of 6.2% between 2024 and 2032.
The market is estimated to witness a healthy growth in the forecast period 2024-2032 to reach USD 45.77 billion by 2032.
The market is being driven by rapid urbanisation, inflating disposable incomes, and the increasing use of solvents in the construction and agricultural industries.
The key trends of the market include increasing research and innovations to create more advanced solvents and rising demand for bio-based solvents.
The major regions in the market are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
The products of solvent in the market are hydrocarbons, alcohol, esters, ketones, and chlorinated, among others.
The significant applications of solvents are printing ink, paints and coatings, pharmaceuticals, and adhesives and cosmetics, among others.
The key players in the global solvent market are BASF SE, Royal Dutch Shell plc, Exxon Mobil Corporation, Celanese Corporation, Ashland Inc., and INEOS Group, among others.
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Australia
63 Fiona Drive, Tamworth, NSW
+61 448 06 17 27
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63 287899028, +63 967 048 3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84865399124