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Industrial solvents are substances used in various industrial processes to dissolve, dilute, and suspend other substances. Industrial solvents have different properties and compositions to cater to the distinct requirements of varied industries. Increasing industrial activities across sectors, such as manufacturing, automotive, pharmaceuticals, paints and coatings, and electronics, drive the demand for industrial solvents. Implementing stringent regulations to control the emissions of volatile organic compounds (VOCs) and hazardous air pollutants (HAPs) from industrial processes is elevating the demand for low-VOC and VOC-free solvents with minimal environmental impact. Health and safety concerns associated with workers and the environment due to exposure to solvents hamper the adoption of industrial solvents across industries. The increasing development of new solvent formulations that offer improved performance, efficiency, and environmental friendliness is expected to create opportunities for market growth.
Regional Insights
In the Americas, specifically the United States, the significant demand for pharmaceuticals, coatings, and adhesives has prompted manufacturers to invest in environmentally friendly alternatives, aligning with customers' preference for high-quality, regulation-compliant products. Canadian customers are gravitating toward sustainable solutions, propelling research into plant-based solvents. In the Asia-Pacific region, China, India, and Japan have a robust industrial base, with China and India emphasizing cost-effective production and growing capacity. Japan maintains a focus on high-purity, innovative solvent technologies. In the European Union, an advanced regulatory framework, notably REACH, drives the shift to non-VOC, biodegradable solvents, with consumer buying behavior heavily influenced by environmental considerations. Several challenges and strategies are evident among solvent providers in developed countries with stringent regulations necessitating research and development (R&D) in green chemistry and the adaptation of supply chains to a circular economy model. Emerging markets offer better opportunities for industrial solvents due to less rigid regulatory landscapes and burgeoning industrial activity.FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Industrial Solvent Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Industrial Solvent Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.Key Company Profiles
The report delves into recent significant developments in the Industrial Solvent Market, highlighting leading vendors and their innovative profiles. These include Absolute Solvents Ltd., ACE Chemical, Agilent Technologies, Inc, Arkema S.A., Ashland Global Holdings Inc., Australasian Solvents and Chemical Company Pty Ltd., BASF SE, Cargill, Incorporated, Celanese Corporation, Clariant AG, Dow, Inc., Eastman Chemical Company, Evonik Industries AG, Exxon Mobil Corporation, FUJIFILM Holdings Corporation, Honeywell International, Inc., Huntsman International LLC, INEOS Group Holdings S.A., Jagannath Chemicals, LyondellBasell Industries Holdings B.V., Merck KGaA, Mitsubishi Chemical Corporation, Mitsui & Co., Ltd., OQ SAOC, Ornate Chemicals, Perstorp Holding AB by PETRONAS Chemicals Group, Reliance Specialty Products, Inc., Royal Dutch Shell PLC, SABIC, ShanDong look chemical Co., Ltd., Shin-Etsu Chemical Co., Ltd., Solvay S.A., Solventis Ltd., Surya Min Chem Private Limited, Toray Industries Inc., and Vertec BioSolvents Inc.Market Segmentation & Coverage
This research report categorizes the Industrial Solvent Market to forecast the revenues and analyze trends in each of the following sub-markets:- Type
- Alcohols
- 2 Ethyl Hexanol
- Benzyl Alcohol
- Butanol
- Ethanol
- Isopropanol
- Methanol
- Propanol
- Amide
- Dimethylacetamide
- Dimethylformamide
- Esters
- Butyl Acetate
- Ethyl Acetate
- Iso Propyl Acetate
- Hydrocarbons
- Dimethyl Sulfoxide
- Heptane
- Hexane
- Toluene
- Xylene
- Ketones
- Acetone
- Methyl Ethyl Ketone
- Methyl Iso Butyl Ketone
- N-methyl Pyrrolidone
- Organosulfur Compounds
- Sulfones
- Sulfoxides
- Salt
- Sodium chloride
- Tetramethylammonium Hydroxide
- Alcohols
- Polarity
- Non-Polar
- Polar
- End-User
- Chemical
- Construction
- Electronics
- Footwear
- Oil & Gas
- Paintings & Coatings
- Pharmaceuticals
- Textiles
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as
- What is the market size and forecast of the Industrial Solvent Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Industrial Solvent Market?
- What are the technology trends and regulatory frameworks in the Industrial Solvent Market?
- What is the market share of the leading vendors in the Industrial Solvent Market?
- Which modes and strategic moves are suitable for entering the Industrial Solvent Market?
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Table of Contents
Companies Mentioned
- Absolute Solvents Ltd.
- ACE Chemical
- Agilent Technologies, Inc
- Arkema S.A.
- Ashland Global Holdings Inc.
- Australasian Solvents and Chemical Company Pty Ltd.
- BASF SE
- Cargill, Incorporated
- Celanese Corporation
- Clariant AG
- Dow, Inc.
- Eastman Chemical Company
- Evonik Industries AG
- Exxon Mobil Corporation
- FUJIFILM Holdings Corporation
- Honeywell International, Inc.
- Huntsman International LLC
- INEOS Group Holdings S.A.
- Jagannath Chemicals
- LyondellBasell Industries Holdings B.V.
- Merck KGaA
- Mitsubishi Chemical Corporation
- Mitsui & Co., Ltd.
- OQ SAOC
- Ornate Chemicals
- Perstorp Holding AB by PETRONAS Chemicals Group
- Reliance Specialty Products, Inc.
- Royal Dutch Shell PLC
- SABIC
- ShanDong look chemical Co., Ltd.
- Shin-Etsu Chemical Co., Ltd.
- Solvay S.A.
- Solventis Ltd.
- Surya Min Chem Private Limited
- Toray Industries Inc.
- Vertec BioSolvents Inc.
Methodology
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Table Information
Report Attribute | Details |
---|---|
No. of Pages | 193 |
Published | March 2024 |
Forecast Period | 2023 - 2030 |
Estimated Market Value ( USD | $ 28.74 Billion |
Forecasted Market Value ( USD | $ 44.41 Billion |
Compound Annual Growth Rate | 6.3% |
Regions Covered | Global |
No. of Companies Mentioned | 36 |