New York, NY, Feb. 04, 2021 (GLOBE NEWSWIRE) — Facts and Factors have published a new research report titled “Industrial Solvents Market By Product (Hydrocarbons, Acids, Esters, Glycols, Aromatics, Alcohols, Ketones, Ethers and Other) and By Application (Dissolution Agent, Cleaning and Degreasing, Paints and Coatings, Applications in Printing Products and Cleaning, Cosmetics, Printing Ink, Adhesives and Other): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” .
“According to the research study, the global Industrial Solvents Market was estimated at USD 29.8 Billion in 2019 and is expected to reach USD 36.6 Billion by 2026. The global Industrial Solvents Market is expected to grow at a compound annual growth rate (CAGR) of 3% from 2019 to 2026”.
Solvents are used specifically for dissolving any solid, liquid, or gas. Industrial solvents are the material in which another substance is melted. They are used mainly in cleaning, formulating, and processing. They are used primarily in the paint, pharmaceutical, glue, and printing industries.
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- 2020 Updated Report Introduction, Overview, and In-depth industry analysis
- COVID-19 Pandemic Outbreak Impact Analysis Included
- 190+ Pages Research Report (Inclusion of Updated Research)
- Provide Chapter-wise guidance on Request
- 2020 Updated Regional Analysis with Graphical Representation of Size, Share & Trends
- Includes Updated List of table & figures
- Updated Report Includes Top Market Players with their Business Strategy, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Note: The sample of this report is updated with COVID-19 impact analysis before delivery)
Key Questions Answered in this Report
1) What was the impact of COVID-19 on the Industrial Solvents Market?
2) What is the market size, share of the Industrial Solvents Market?
3) Who are the top market players in Industrial Solvents Market?
4) What will be the future market of the Industrial Solvents Market?
- Market Size & Forecast by Revenue | 2020−2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by product, by types, end-user, applications, segments, and geography
- Competitive Landscape – Top key vendors and other prominent vendors
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Rapid industrialization in emerging economies has resulted in an extraordinary demand for the market for industrial solvents. Growing demand for industrial solvents in adhesives, paint industries, and printing is driving the market for industrial solvents. Nevertheless, that concern for environmental problems caused by solvents can hamper this market’s growth. Nonetheless, the growing infrastructure sector in developing countries coupled with ongoing untapped-use research is likely to open up new opportunities for the industrial solvent market in the coming years.
Top Market Players
Some of the major players of the market are Daicel Chemical Industries, Lyondell Basell Industries N.V., Arkema S.A., Royal Dutch Shell PLC, SK Innovation Co., Ltd., Sinopec Corp., BP PLC, BASF SE, Exxon Mobil Corporation, Eni S.p.A., Nippon Refine Co., Ltd., The Dow Chemical Company, Petroleo Brasileiro S.A., JX Holdings, Inc., and Others.
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The industrial solvents market can be segmented based on products into acids, glycols, alcohols, ethers, hydrocarbons, esters, aromatics, ketones, and other products. Given its organic properties, the hydrocarbon solvent is the leading segment due to the high demand from end-users. Many industrial solvent uses are washing and degreasing agents, dissolution agents, printing and cleaning products, paints and coatings, and others. Dissolution agents, with about 48 percent of the overall market share, dominated the industrial solvents market. The segment of paints and coatings is expected to experience high growth in the forecast period due to the growing demand from the infrastructure and automotive industries.
The report utilizes established industry analysis tools and models such as Porter’s Five Forces framework to analyze and recognize critical business strategies adopted by various stakeholders involved in the entire value chain of the industrial solvents industry. The industrial solvents market report additionally employs SWOT analysis and PESTLE analysis models for further in-depth analysis.
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The report study further includes an in-depth analysis of industry players’ market shares and provides an overview of leading players’ market position in the industrial solvents sector. Key strategic developments in the industrial solvents market competitive landscape such as acquisitions & mergers, inaugurations of different products and services, partnerships & joint ventures, MoU agreements, VC & funding activities, R&D activities, and geographic expansion among other noteworthy activities by key players of the industrial solvents market are appropriately highlighted in the report.
Increasing demand from the paint and printing industries is mostly driving the market for industrial solvents. Besides, increasing urbanization and rapidly evolving industrialization are leading to demand growth for industrial solvents. Yet, the government’s strict regulations for the use of solvents due to their impact on the environment that hinder this market’s growth. Nevertheless, the growing demand for infrastructure from the emerging economies is expected in the near future to experience a lucrative opportunity.
Browse the full “Industrial Solvents Market By Product (Hydrocarbons, Acids, Esters, Glycols, Aromatics, Alcohols, Ketones, Ethers and Other) and By Application (Dissolution Agent, Cleaning and Degreasing, Paints and Coatings, Applications in Printing Products and Cleaning, Cosmetics, Printing Ink, Adhesives and Other): Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026″ report at https://www.fnfresearch.com/industrial-solvents-market-by-product-hydrocarbons-acids-esters-972
The industrial solvents market research report delivers an acute valuation and taxonomy of the industrial solvents industry by practically splitting the market on the basis of different types, applications, and regions. Through the analysis of the historical and projected trends, all the segments and sub-segments were evaluated through the bottom-up approach, and different market sizes have been projected for FY 2020 to FY 2026.
The demand for industrial solvents market is established in North America and Europe and has hit its saturation point. Hence the market is expected to expand at a steady pace in these regions. Strict controls for the use of industrial solvents imposed by the U.S. and European governments due to adverse environmental impacts. Hence the use of eco-friendly solvents such as green and bio-based solvents in North America is increasing in demand. However, due to rapid industrialization, the Asia Pacific and Latin America are expected to show the fastest market growth. With growing development and abundant raw resources, the Middle East and Africa are likely to expand at a decent rate. In addition, the growing use of solvents in the pharmaceutical industry is boosting the growth of industrial solvents. Rapidly increasing infrastructure and the use of paints in construction contributed to the growth of the paint and coating industry, resulting in the growth of the demand for industrial solvents. Latin America has hit its saturation point for this sector and owing to strict regulations is likely to have slow growth in the coming years. It is anticipated that the demand for bio-based solvents will show greater growth compared to the industrial solvent. This demand comes largely from Argentina and Brazil.
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This report segments the industrial solvents market as follows:
Global Industrial Solvents Market: By Product Segmentation Analysis
Global Industrial Solvents Market: By Application Segmentation Analysis
- Dissolution agent
- Cleaning and degreasing
- Paints and coating
- Printing products and cleaning
Key Insights from Primary Research
- As per our primary respondents, the industrial solvents market is set to grow annually at a rate of around 3%
- It was established through primary research that the industrial solvents market was valued at around USD 29.8 billion in 2019
- The Asia Pacific held the largest market share of industrial solvents in terms of revenue in 2019
- The “Hydrocarbons” category, on the basis of product segmentation, was the leading revenue-generating category in 2019
- The “Dissolution Agent” category, on the basis of application segmentation, was the leading revenue-generating in 2019
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