What are the recent trends in market size and growth for the high purity solvent market?
The high purity solvent market size has grown strongly in recent years. It will grow from $60.38 billion in 2024 to $65.82 billion in 2025 at a compound annual growth rate (CAGR) of 9.0%. The growth in the historic period can be attributed to stringent quality standard, growing electronic manufacturing, pharmaceutical industry growth, increasing analytical chemistry applications, globalization of chemical industries.
The high purity solvent market size is expected to see rapid growth in the next few years. It will grow to $102.6 billion in 2029 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to emergence of green chemistry, increasing demand in nanotechnology, bio-based solvents, focus on specialty chemicals manufacturing, environmental and safety regulations. Major trends in the forecast period include increasing adoption in clean energy technologies, technological innovations in solvent purification, increasing use in research and analytical chemistry, technological advancements in production processes, emergence of customized solvent solutions.
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What have been the primary factors driving the high purity solvent market’s growth?
The increasing demand for paints and coatings is expected to propel the growth of the high purity solvent market going forward. Paints and coatings refer to a liquid, liquefiable, or solid mastic material that solidifies after being applied to a substrate in a thin layer. High purity solvents are used to dissolve various components used in paint and coating formulations.For instance, in October 2023, according to the American Coatings Association, a US-based non-profit organization, the coatings industry has seen an estimated 25% growth in value from 2021 to 2023. , Therefore, the increasing demand for paints and coatings is driving the growth of the high purity solvent market.
What are the key segments within the high purity solvent market?
The high purity solvent market covered in this report is segmented –
1) By Type: Acetone, Acetonitrile, Dimethyl Sulfoxide, Other Types
2) By Category: Polar Solvent, Non-Polar Solvent
3) By Applications: Liquid Crystal Displays, Lithium-Ion Batteries, Electroplating, Polymer Resins, Catalysts, Other Applications
4) By End-User: Pharmaceutical, Chemicals, Cosmetics And Personal Care, Food And beverages, Agriculture, Paints And Coatings, Biotechnology, Electrical And Electronics, Other End Users
Subsegments:
1) By Acetone: High-Purity Acetone, Acetone For Laboratory Use
2) By Acetonitrile: High-Purity Acetonitrile, Acetonitrile For HPLC (High-Performance Liquid Chromatography)
3) By Dimethyl Sulfoxide (DMSO): High-Purity DMSO, DMSO For Pharmaceutical Applications
4) By Other Types: Ethanol, Methanol, Tetrahydrofuran (THF), Isopropanol
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Which key players are shaping the high purity solvent market?
Major companies operating in the high purity solvent market include Exxon Mobil Corporation, MP Biomedicals LLC, BASF SE, Dow Inc., Thermo Fisher Scientific Inc., Honeywell International Inc., The Merck Group, Asahi Kasei Corporation, Evonik Industries AG, DuPont de Nemours Inc., Akzo Nobel N.V., Mitsubishi Chemical Corporation, Avantor Inc., VWR International LLC, Kanto Chemical Co. Inc., Alfa Aesar, Spectrum Chemical Mfg. Corp., J.T.Baker, Tokyo Chemical Industry Co. Ltd., GFS Chemicals Inc., Tedia Company Inc., High Purity Laboratory Chemicals Pvt. Ltd., Apchem Life Science Pvt. Ltd., Pharmco-AAPER, EMD Millipore Corporation, Ricca Chemical Company, Fisher Scientific, Macron Fine Chemicals, Chem-Supply Pty. Ltd.
How will emerging trends drive the high purity solvent market throughout the forecast period?
Major companies operating in the high purity solvents sector are focused on developing bio-derived products to reinforce their position. Bio-based solvents act as a replacement for crude oil-based solvents. They are as effective and often safer than their counterparts. For instance, in February 2022, Clariant, a Switzerland-based specialty chemicals company, launched its new Vita 100% bio-based surfactants and polyethylene glycols (PEGs) to help directly address climate change by removing fossil carbon from the value chain. Vita products are made with renewable feedstocks and have a Renewable Carbon Index of at least 98%. Designed for natural formulations with a high Renewable Carbon Index (RCI), the new Vita products assist manufacturers in increasing the bio-based carbon content of consumer goods such as detergents, hair and body shampoo, paint, industrial lubricants, and crop formulations.
How do regional factors impact the high purity solvent market, and which region is the largest contributor?
The countries covered in the high purity solvent market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
What Does The High Purity Solvent Market Report 2025 Offer?
The high purity solvent market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
The high purity solvents are used in the chromatography of gases and liquids. High purity solvents are synthetically-distilled organic chemicals that are manufactured using multistep purification processes to provide rapid, reproducible performance and separation in research and quality control applications.
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