A solvent has the ability to dissolve a solute, converting it into a solution. They can also be solid or gaseous, however they are commonly given in liquid form. Acetone, esters, toluene, methanol, ethanol, butanol, propylene glycols, glycol ethers, butyl glycol ethers, and hydrocarbons are the different categories. Other compounds can be very finely dispersed, absorbed, and diluted using these products without the other substances being chemically altered. The market for goods will be fuelled by rising chemical innovation and progress as well as rising demand for bio-based goods due to increasingly stringent environmental regulations. Additionally, throughout the projected year, the quickly growing paints and coatings industry will have a substantial impact on the growth of the global market.
The worldwide supply chain disruption is expected to have a negative impact on the solvents market. The rise of the construction, automotive, shipbuilding, and aircraft manufacturing industries has a substantial impact on the market because solvents are used in paint and coating applications in these sectors. China is the largest manufacturing and construction market in the world. The stringent lockdown in the country's major areas has impeded China's construction efforts. The first quarter of this year saw a decline in the market for paints and coatings, largely as a result of the COVID-19 outbreak, which also had an effect on solvent consumption.
The Global Solvents Market study provides market data by competitive landscape, revenue analysis, market segments and detailed analysis of key market players such as; Ashland Global Holdings Inc., BASF SE Celanese Corporation, Eastman Chemical Company, Exxon Mobil Corporation Honeywell International Inc., Huntsman Corporation, INEOS Group AG Lyondell Basell Industries Holdings B.V., Royal Dutch Shell Plc.
SPER Market Research study aims to provide market dynamics, demand and supply with yearly forecast to 2032. This report provides data for growth estimates and forecasts for product type segment – By Product Type {Alcohols (Methanol, Ethanol, Propanol, Butanol), Glycols (Ethylene Glycols, Propylene Glycols), Glycol Ether (E-Series Glycol Ethers, P-Series Glycol Ethers, Butyl Glycol Ethers), Ketones (Acetone, MEK, MIBK), Esters (Ethyl Acetate ,Buty Acetate), Aliphatic Solvents, Aromatic Solvents (Toulene, Xylene, Ethyl Benzene, Methylene Chloride, Trichloroethylene, Perchloroethylene, Acetic Acid)}, By Application (Paints & Coating, Pharmaceuticals, Adhesives, Printing Inks, Metal Cleaning, Personal Care, Polymer Manufacturing, Agricultural Chemicals, Others).
This report also provides the data for key regional segments of North America, Europe, Asia-Pacific and Rest of the World.
This study also encompasses various drivers and restraining factors of this market for the forecast period. Various growth opportunities are also discussed in the report.