The Solvents Global Market Report 2023, provides comprehensive information on the solvents market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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The global solvents market size is expected to grow from $29.10 billion in 2022 to $30.78 billion in 2023 at a compound annual growth rate (CAGR) of 6.10%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The size of solvents market is expected to reach $37.64 billion in 2027 at a CAGR of 5.16%.
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Product innovation is the key trend gaining popularity in the solvent market. Companies operating in the solvent industry are adopting new technologies to sustain their position in the market. For instance, in April 2022, Solvay S.A., a Belgium-based manufacturer of chemicals, launched a new-generation solvent called Rhodiasolv IRIS. It is biodegradable, non-flammable, mutagenic, low-volatile, and reprotoxic. It is utilized in a variety of applications, including phytosanitary product formulation, paint peeling, graffiti and resin removal, industrial cleaning, and agrochemistry. Rhodiasolv IRIS, for instance, permits the adoption of a unique production technique that recycles a previously burned byproduct of its polyamide chain. This method optimizes the utilization of petrochemical resources while minimizing environmental effects. It is a crucial component in the Rhodiasolv line of green solvents that aid in the shift to more ecologically friendly agriculture.
The solvents market is segmented:
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
Asia-Pacificwas the largest region in the solvents market in 2022.
The table of contents in TBRC’s solvents market report includes:
1. Executive Summary
2. Solvents Market Characteristics
3. Solvents Market Trends And Strategies
4. Solvents Market – Macro Economic Scenario
5. Impact Of High Inflation On Online Therapy Services Market
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31. Solvents Market Other Major And Innovative Companies
32. Global Solvents Market Competitive Benchmarking
33. Global Solvents Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Solvents Market
35. Solvents Market Future Outlook and Potential Analysis
36. Appendix
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