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Global Solvent Market Size, Share, Trends, Growth, Forecast: By Product: Hydrocarbons, Alcohol, Esters, Ketones, Chlorinated, Others; By Application: Printing Inks, Paints and Coatings, Pharmaceuticals, Adhesives and Cosmetics, Others; Regional Analysis; Market Dynamics: SWOT Analysis; Competitive Landscape; 2024-2032
Global Solvent Market Outlook
The global solvent market expected to grow in the forecast period of 2024-2032 at a CAGR of 6.2% to attain USD 45.77 billion by 2032.
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Use of Solvents in Pharmaceuticals, Industrial Coatings and Personal Care Products Boosting the Solvent Industry
Solvents are used in a wide variety of applications. They are found all around us. Thousands of manufacturers and production facilities rely on solvents to provide solutions to their manufacturing needs. In daily house cleaning activities, a solvent is used as a cleaning and degreasing agent, for instance, in toiletries, floor, glass, or any dirt cleaning. Amid the Covid 19 pandemic, beauty consumers have renewed their interest in skin care. The ongoing trend on social media urges people to improve overall skin health and fairness. As a result of this, many beauty retailers and manufacturers witness an increase in demand for essential skin products. Many of the products we use daily, ranging from pharmaceuticals to industrial coatings, require solvents at all costs. The rising demand for solvents from end use industries is boosting the market growth of the product.
Solvent: Market Segmentation
The term solvent refers to a large number of chemical substances that have commercial applications across various industries. The solvents are ubiquitous which are used across various industries ranging from coatings and paints, plastics, textiles, rubber, pharmaceuticals, oil and gas, chemical synthesis, construction, among others.
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Based on product, the market is segmented into:
- Hydrocarbons
- Alcohol
- Esters
- Ketones
- Chlorinated
- Others
Based on application, the market is segmented into:
- Printing Inks
- Paints and Coatings
- Pharmaceuticals
- Adhesives and Cosmetics
- Others
The EMR report looks into the regional markets of solvent like North America, Europe, the Asia Pacific, Latin America, the Middle East and Africa.
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Increasing use of Solvent in Construction and Agricultural Industry to Bolster the Market Growth of Solvent
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.
Key Industries Players in the Global Solvent Market
The report presents a detailed analysis of the following key players in the global solvent market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:
- BASF SE
- Royal Dutch Shell plc
- Exxon Mobil Corporation
- Celanese Corporation
- Ashland Inc.
- INEOS Group
- Others
The comprehensive report looks into macro and micro aspects of the industry. The EMR report gives an in-depth insight into the market by providing a SWOT analysis as well as an analysis of Porter’s Five Forces model.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option |
Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
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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.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Snapshot
6.1 Global
6.2 Regional
7 Opportunities and Challenges in the Market
8 Global Solvent Market Analysis
8.1 Key Industry Highlights
8.2 Global Solvent Historical Market (2018-2023)
8.3 Global Solvent Market Forecast (2024-2032)
8.4 Global Solvent Market by Product
8.4.1 Hydrocarbons
8.4.1.1 Historical Trend (2018-2023)
8.4.1.2 Forecast Trend (2024-2032)
8.4.2 Alcohol
8.4.2.1 Historical Trend (2018-2023)
8.4.2.2 Forecast Trend (2024-2032)
8.4.3 Esters
8.4.3.1 Historical Trend (2018-2023)
8.4.3.2 Forecast Trend (2024-2032)
8.4.4 Ketones
8.4.4.1 Historical Trend (2018-2023)
8.4.4.2 Forecast Trend (2024-2032)
8.4.5 Chlorinated
8.4.5.1 Historical Trend (2018-2023)
8.4.5.2 Forecast Trend (2024-2032)
8.4.6 Others
8.5 Global Solvent Market by Application
8.5.1 Printing Inks
8.5.1.1 Historical Trend (2018-2023)
8.5.1.2 Forecast Trend (2024-2032)
8.5.2 Paints and Coatings
8.5.2.1 Historical Trend (2018-2023)
8.5.2.2 Forecast Trend (2024-2032)
8.5.3 Pharmaceuticals
8.5.3.1 Historical Trend (2018-2023)
8.5.3.2 Forecast Trend (2024-2032)
8.5.4 Adhesives and Cosmetics
8.5.4.1 Historical Trend (2018-2023)
8.5.4.2 Forecast Trend (2024-2032)
8.5.5 Others
8.6 Global Solvent Market by Region
8.6.1 North America
8.6.1.1 Historical Trend (2018-2023)
8.6.1.2 Forecast Trend (2024-2032)
8.6.2 Europe
8.6.2.1 Historical Trend (2018-2023)
8.6.2.2 Forecast Trend (2024-2032)
8.6.3 Asia Pacific
8.6.3.1 Historical Trend (2018-2023)
8.6.3.2 Forecast Trend (2024-2032)
8.6.4 Latin America
8.6.4.1 Historical Trend (2018-2023)
8.6.4.2 Forecast Trend (2024-2032)
8.6.5 Middle East and Africa
8.6.5.1 Historical Trend (2018-2023)
8.6.5.2 Forecast Trend (2024-2032)
9 North America Solvent Market Analysis
9.1 United States of America
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Canada
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
10 Europe Solvent Market Analysis
10.1 United Kingdom
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Germany
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 France
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Italy
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 Asia Pacific Solvent Market Analysis
11.1 China
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Japan
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
11.3 India
11.3.1 Historical Trend (2018-2023)
11.3.2 Forecast Trend (2024-2032)
11.4 ASEAN
11.4.1 Historical Trend (2018-2023)
11.4.2 Forecast Trend (2024-2032)
11.5 Australia
11.5.1 Historical Trend (2018-2023)
11.5.2 Forecast Trend (2024-2032)
11.6 Others
12 Latin America Solvent Market Analysis
12.1 Brazil
12.1.1 Historical Trend (2018-2023)
12.1.2 Forecast Trend (2024-2032)
12.2 Argentina
12.2.1 Historical Trend (2018-2023)
12.2.2 Forecast Trend (2024-2032)
12.3 Mexico
12.3.1 Historical Trend (2018-2023)
12.3.2 Forecast Trend (2024-2032)
12.4 Others
13 Middle East and Africa Solvent Market Analysis
13.1 Saudi Arabia
13.1.1 Historical Trend (2018-2023)
13.1.2 Forecast Trend (2024-2032)
13.2 United Arab Emirates
13.2.1 Historical Trend (2018-2023)
13.2.2 Forecast Trend (2024-2032)
13.3 Nigeria
13.3.1 Historical Trend (2018-2023)
13.3.2 Forecast Trend (2024-2032)
13.4 South Africa
13.4.1 Historical Trend (2018-2023)
13.4.2 Forecast Trend (2024-2032)
13.5 Others
14 Market Dynamics
14.1 SWOT Analysis
14.1.1 Strengths
14.1.2 Weaknesses
14.1.3 Opportunities
14.1.4 Threats
14.2 Porter’s Five Forces Analysis
14.2.1 Supplier’s Power
14.2.2 Buyer’s Power
14.2.3 Threat of New Entrants
14.2.4 Degree of Rivalry
14.2.5 Threat of Substitutes
14.3 Key Indicators for Demand
14.4 Key Indicators for Price
15 Value Chain Analysis
16 Price Analysis
17 Competitive Landscape
17.1 Market Structure
17.2 Company Profiles
17.2.1 BASF SE
17.2.1.1 Company Overview
17.2.1.2 Product Portfolio
17.2.1.3 Demographic Reach and Achievements
17.2.1.4 Certifications
17.2.2 Royal Dutch Shell plc
17.2.2.1 Company Overview
17.2.2.2 Product Portfolio
17.2.2.3 Demographic Reach and Achievements
17.2.2.4 Certifications
17.2.3 Exxon Mobil Corporation
17.2.3.1 Company Overview
17.2.3.2 Product Portfolio
17.2.3.3 Demographic Reach and Achievements
17.2.3.4 Certifications
17.2.4 Celanese Corporation
17.2.4.1 Company Overview
17.2.4.2 Product Portfolio
17.2.4.3 Demographic Reach and Achievements
17.2.4.4 Certifications
17.2.5 Ashland Inc.
17.2.5.1 Company Overview
17.2.5.2 Product Portfolio
17.2.5.3 Demographic Reach and Achievements
17.2.5.4 Certifications
17.2.6 INEOS Group
17.2.6.1 Company Overview
17.2.6.2 Product Portfolio
17.2.6.3 Demographic Reach and Achievements
17.2.6.4 Certifications
17.2.7 Others
18 Key Trends and Developments in the Market
Additional Customisations Available
1 Manufacturing Process
1.1 Overview
1.2 Detailed Process Flow
1.3 Operation Involved
2 Project Requirement and Cost Analysis
2.1 Land, Location and Site Development
2.2 Construction
2.3 Plant Machinery
2.4 Cost of Raw Material
2.5 Packaging
2.6 Transportation
2.7 Utilities
2.8 Manpower
2.9 Other Capital Investment
List of Key Figures and Tables
1. Global Solvent Market: Key Industry Highlights, 2018 and 2032
2. Global Solvent Historical Market: Breakup by Product (USD Billion), 2018-2023
3. Global Solvent Market Forecast: Breakup by Product (USD Billion), 2024-2032
4. Global Solvent Historical Market: Breakup by Application (USD Billion), 2018-2023
5. Global Solvent Market Forecast: Breakup by Application (USD Billion), 2024-2032
6. Global Solvent Historical Market: Breakup by Region (USD Billion), 2018-2023
7. Global Solvent Market Forecast: Breakup by Region (USD Billion), 2024-2032
8. North America Solvent Historical Market: Breakup by Country (USD Billion), 2018-2023
9. North America Solvent Market Forecast: Breakup by Country (USD Billion), 2024-2032
10. Europe Solvent Historical Market: Breakup by Country (USD Billion), 2018-2023
11. Europe Solvent Market Forecast: Breakup by Country (USD Billion), 2024-2032
12. Asia Pacific Solvent Historical Market: Breakup by Country (USD Billion), 2018-2023
13. Asia Pacific Solvent Market Forecast: Breakup by Country (USD Billion), 2024-2032
14. Latin America Solvent Historical Market: Breakup by Country (USD Billion), 2018-2023
15. Latin America Solvent Market Forecast: Breakup by Country (USD Billion), 2024-2032
16. Middle East and Africa Solvent Historical Market: Breakup by Country (USD Billion), 2018-2023
17. Middle East and Africa Solvent Market Forecast: Breakup by Country (USD Billion), 2024-2032
18. Global Solvent Market Structure
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.
Analyst Review
The global solvent market is driven by the increasing use of solvents in construction and agricultural industries. Aided by the increasing research and development (R&D) for the production of advanced solvents, the market is expected to witness a further a growth in the forecast period of 2024-2032 growing at a CAGR of 6.2%. The market is projected to reach USD 45.77 billion by 2032.
EMR’s meticulous research methodology delves deep into the industry, covering the macro and micro aspects of the industry. Based on product, the solvent industry can be segmented into hydrocarbons, alcohol, esters, ketones, and chlorinated, among others. On the basis of application, the industry is divided into printing Inks, paints and coatings, pharmaceuticals, and adhesives and cosmetics, among others. The major regional markets for solvent are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above industry include BASF SE, Royal Dutch Shell plc, Exxon Mobil Corporation, Celanese Corporation, Ashland Inc., and INEOS Group, among others.
EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.
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