“Industrial Solvents Market: Global Demand Analysis & Opportunity Outlook 2027”
The global industrial solvents market is segmented by chemistry into alcohols, glycols, ketones, esters, ethers, acids, aromatics, hydrocarbons and others; by end-user industries into printing ink, paints and coatings, cosmetics, adhesives, pharmaceutical and others and by regions. Industrial Solvents Market is anticipated to mask a CAGR of 3.7% during the forecast period i.e. 2018-2027.
Currently the global industrial solvents market is observing vibrant growth owing to increasing demand of industrial solvents in cosmetics market. Advances in various end-user industries in the past few years and growing technological explorations are projected to drive industrial solvents market besides the wide range of functions of industrial solvents in an immense range of products such as paints, adhesives, lubricants, de-aromatized solvents during the forecast period.
As a precursor to various end-user industries, North America is panned to observe substantial industrial solvents market growth due to steady industrial solvents usage. North America is expected to be followed by Asia-Pacific in terms of consumption due to expanding industrial solvents requirements in cosmetics and coating industries. Europe is expected to drive demand and positively impact industrial solvents market growth over the forecast period owing to increasing industrial solvents application for printing and coating processes.
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Growing Applications in End-User Industries
The rising demand for industrial solvents various processes in cosmetics, paint and coating, printing ink, pharmaceutical industries are expected to drive the market rapidly over the forecast period. Moreover, application of industrial additives in oil refining and recovery, polymer and rubber, fuel additives, photographic reproduction, pesticides and textile industries is attributed to drive the market during the forecast period.
Increasing Use in Various Consumer Products
Application of industrial solvents in various products such as nail enamels, detergents and perfumes is predicted to contribute significantly in the growth of the industrial solvents market on account of growing demand for cosmetic products across the globe.
However, health issues associated to the use of industrial solvents which includes irritation of eyes, nose and throat leading to conditions of nausea and drowsiness on exposure to industrial solvent vapors can act as a potential hindrance to the global Industrial Solvents market. In acute conditions, severe exposure to industrial solvents may direct to harm the central nervous system leading to lower adoption of these solvents over the forecast period.
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The report titled “Global Industrial Solvents Market: Global Demand Analysis & Opportunity Outlook 2027” delivers detailed overview of the global Industrial Solvents market in terms of market segmentation by chemistry, by end-user industries and by regions.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global Industrial Solvents market which includes company profiling of Arkema Inc., BASF SE, BP PLC., Exxon Mobil Corporation, Daicel Chemical Industries Ltd., Lyondell Basell Industries, Royal Dutch Shell Plc., PetroleoBrasileiroS.A, Dow Chemical and Total S.A. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global Industrial Solvents market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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