Industrial Solvent Market is anticipated to grow at CAGR of about 10 % during a forecast period of 2019-2027.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
Industrial Solvent is the modulate class of chemical that tend to emit regulated volatile organic compounds which contribute to lower-level ozone formation. Industrial solvents are used for Adhesive and Sealant segment pesticides, photographic reproduction and textile industries. Majority of industrial solvents are involved in oil refining and recovery, dry cleaning, rubber and polymer, fuel additives and metal degreasing.
Most of the solvents in industry are used as dissolution agent in various industries which accounts for about half of market share followed by cleansing, degreasing and purification. Growing demand from pharmaceutical, paints and coating industry is boosting the global demand for industrial solvent market. A major restraint for conventional solvents is consumer’s choice for bio-green substitute as they are less reactive and non-VOC in nature.
In terms of product type the industrial solvent market is segmented into hydrocarbons, alcohols, ketones, chlorinated, Esters and others. Demand for hydrocarbon solvents is allocated to grow in forecast period. Stringent environmental regulation for the use of organic solvents in various applications is pushing the hydrocarbon solvent market.
In terms of application industrial solvent market is segmented into printing ink, paints and coatings, pharmaceuticals, cosmetics, sealant & adhesives and others. Out of these paints and coatings segment constitute one third of the market and is expected to show growth in the forecast period due to increased demand in Industrial and domestic cleaner sector.
Based on geography, the global solvent market is segmented into North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Asia-Pacific region is rapidly growing based on the developments taking place in residential and infrastructure sector. Solvents are used on a large scale for painting purposes in infrastructure segment hence supporting the solvent industry to grow. Non-residential and residential building construction will run demand for construction-related materials, such as paint and coatings and adhesives and sealants in turn a solvent. Asia-Pacific region as it holds for approximately half of the demand for solvents market. North America and Europe shows a measurable growth opportunities due to multitude set of environmental regulation which had diverted them to bio based solvent.
BASF SE, Dow Chemicals, Shell Chemicals, Sasol Solvents, ExxonMobil Corporation, Celanese Corporation, Maruzen Petrochemicals, Myriant Corporation, Dow Chemicals, Cargill Incorporated, Gevo Inc., Vertec Bio solvents Inc., Florida Chemicals, Lyondellbasell and E.I du Pont de Numerous and Company, Solvay S.A and Huntsman Corporation are some of the keyplayer in the Industrial solvent market.
The objective of the report is to present comprehensive analysis of Industrial Solvent market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with analysis of complicated data in simple language. The report covers all the aspects of industry with dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give clear futuristic view of the industry to the decision makers.
The report also helps in understanding Industrial Solvent market dynamics, structure by analyzing the market segments, and project the Industrial Solvent market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Industrial Solvent market make the report investor’s guide.
Industrial Solvent Market, By Product Type:
• diols & glycols
Industrial Solvent Market, By Application Type:
• Adhesives & Sealants
• Printing Ink
• Industrial & Domestic Cleaners
• Paints & Coatings
Industrial Solvent Market, By Region:
• Asia Pacific
• North America
• Middle East & Africa
• Latin America
Key Players Analysed in the Industrial Solvent Market :
• Royal Dutch Shell Plc
• Lyondell Basell Industries N.V.
• ExxonMobil Corporation
• Celanese Corporation
• Ashland Group Holdings Inc.
• Eastman Chemical Company
• Huntsman Corporation
• Solvay SA
• Honeywell International
• BASF SE
• Royal Dutch Shell Plc
• The Dow Chemical Company
• Maruzen Petrochemical
• Shell Chemicals
• Solvay Chemicals
• MARUKASOL FH
• BioAmber Inc.
• Myriant Corporation
• Cargill Incorporated
• Gevo Inc.
• Vertec Bio solvents Inc.
• Florida Chemicals
• E.I du Pont de Numerous and Company
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