Solvent research report covers major topics related to Global Solvent such as market size, untapped opportunities, dynamics of Global Solvent, current players in Global Solvent.
The report “Solvent Market by Type (Ketones, Esters, Alcohols, Glycol Ethers, Aromatics, Aliphatics), Application (Paints & Coatings, Adhesives, Pharmaceuticals, Printing Inks, Personal Care), Source (Bio & Green, Conventional) – Global Forecast to 2021″
The solvents market size was USD 19.99 Billion in 2015 and is projected to reach USD 28.25 Billion by 2021, at a CAGR of 7.9% from 2016 to 2021. In this study, 2015 has been considered the base year, and 2016–2021 the forecast period to estimate the market size of solvents.
The global solvents market is driven by the increased demand from end-use applications such as paints & coatings, agricultural chemicals, printing inks, adhesives, rubber & polymer, personal care, metal cleaning, pharmaceuticals, and others. Solvents are chemicals used to dissolve a substance (a solute), thereby forming a solution. They are also widely used to suspend, extract, and carry other substances without changing their physical properties. Solvents can be organic, that is, containing carbon; and inorganic, that is, not containing carbon.
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Based on our research we observed some important points which are as follows:
The paints & coatings is estimated to account for the largest share in the global solvents market in 2016, in terms of volume. This application segment is projected to drive the solvents market from 2016 to 2021 due to the growing automobile and construction industries.
Oxygenated solvents are estimated to have accounted for the largest share in the conventional solvents market, both, in terms of value and volume, in 2016. This is owing to the rising demand for non-VOC oxygenated solvents in applications such as paints & coatings, personal care, metal cleaning, and pharmaceutical applications in countries such as U.S., Canada, Mexico, Spain, France, U.K., and Russia, among others.
The Asia-Pacific region led the global solvents market in 2015. The population growth and rapid urbanization in key countries, such as China and India, accompanied by the rising demand for automobiles contribute to the growth of the solvents market in this region.
Top Industry players analyzed in this research are: BASF SE (Germany), Royal Dutch Shell Plc (Netherlands), LyondellBasell Industries N.V. (Netherlands), ExxonMobil Corporation (U.S.), Celanese Corporation (U.S.), Ashland Group Holdings Inc. (U.S.), Eastman Chemical Company (U.S.), Huntsman Corporation (U.S.), Solvay SA (Belgium), and Honeywell International Inc. (U.S.).
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