Skip to main content

Technology Advancement in Global Solvents Market 2023


The report "Solvents Market, by Type (Alcohols, Ketones, Esters, Glycol Ethers, Aromatic, Aliphatic), Application (Paints & Coatings, Polymer Manufacturing, Printing Inks), Source (Petrochemical-Based, Bio & Green), and Region - Global Forecast to 2023" .

Download PDF @ https://bit.ly/2VpsXqK

The solvents market is projected to grow from USD 47.37 billion in 2018 to USD 57.34 billion by 2023, at a CAGR of 3.9% during the forecast period. The major drivers for the market are the increasing demand for bio & green solvents and growth in the automotive and construction industries.
Key players in the solvents market include Royal Dutch Shell Plc. (Netherlands), Eastman Chemical Company (US), BASF SE (Germany), ExxonMobil Corporation (US), LyondellBasell Industries Holdings B.V. (Netherlands), Ashland Global Holdings Inc. (US), Huntsman Corporation (US), Celanese Corporation (US), Honeywell International Inc. (US), and INEOS Group AG (UK). These players have adopted various growth strategies, such as expansions, acquisitions, new product launches, agreements, and joint ventures, to strengthen their presence and increase their shares in the solvents market.
Royal Dutch Shell Plc. is one of the leading manufacturers of solvents globally. The company has been focusing on the expansions and new product launches strategies to maintain its leading position in the market.
For example, in May 2018, the company started production of the second ethylene cracker at the Nanhai Petrochemicals complex in Huizhou, Guangdong Province, China. This expansion helped the company to manufacture ethylene oxide, ethylene glycol, propylene oxide, polyols, polyolefins, phenol, and oxo-alcohols. In October 2014, the company launched natural gas based paraffinic solvents and fluids and is the first organization globally to offer Gas-to-Liquid (GTL) solvents.
Speak to our Analyst @ https://bit.ly/2UfBTlX

Eastman Chemical Company is another major player in the solvents market. The company has been focusing on acquisitions, expansions, and new product launches as part of its strategic development activities. In December 2016, the company acquired 50% shares of Te An Ling Tian Fine Chemical Co., Ltd. (China). Te An Ling Tian Fine Chemical Co., Ltd. is a manufacturer of amines and specialty derivatives, including solvents and alkyl alkanolamines. The acquisition helped the company to broaden its product portfolio. In March 2015, the company launched TamiSolve NxG, a high-performance solvent which meets safety, health, and environmental regulations.
Based on product type, the petrochemical-based solvents market has been segmented into oxygenated solvents, hydrocarbon solvents, and halogenated solvents, whereas the bio & green solvents market is segmented into bio-alcohols & bio-diols, lactate esters, d-limonene, and methyl soyate. In the petrochemical-based solvents market, the oxygenated solvents market is projected to grow at the highest CAGR between 2018 and 2023, in terms of value and volume, owing to the high solvency power and lower toxicity as compared to hydrocarbon and halogenated solvents.

However, in the bio & green solvents market, the lactate esters segment is projected to grow at the highest CAGR between 2018 and 2023. This is because it is biodegradable, non-toxic, and can be used for a wide range of industrial and consumer applications.

Based on application, the petrochemical-based solvents market has been segmented into paints & coatings, pharmaceuticals, polymer manufacturing, adhesives, printing inks, metal cleaning, personal care, agricultural chemicals, and others. The other applications include textile printing/dyeing, intermediate manufacturing, jet fuel anti-icing additive, leather dyes, floor polishes/strippers, and electronics.

Request a sample of Report @ https://bit.ly/2CXp5G0

The market in the Middle East & Africa is projected to grow at the highest CAGR from 2018 to 2023, both, in terms of value and volume. This is due to increasing industrialization, and rising demand for petrochemical-based solvents from end-use industries. Also, vast reserves of crude oil continue to drive the demand for petrochemical-based solvents in the region. In addition, the availability of cheaper raw materials in the region are expected to drive growth of the solvents market.


Reference:
https://www.marketsandmarkets.com/Market-Reports/solvent-market-1325.html?utm_source=blog%2FML


For more Info Visit Blog: https://chemicalsresearchmarket.wordpress.com/blog/

Labels:

Comments

Post a Comment

Popular posts from this blog

Alpha Olefin Sulfonate (AOS) Market by Analysis, by Production, Revenue, Gross Margin and Trends 2030

  The Alpha Olefin Sulfonate market is projected to reach USD 479.7 million by 2030, at a CAGR of 2.3% from USD 399.9 million in 2022. High demand for cleaning products, rising awareness for workplace and personal hygiene along with biodegradability property is driving the demand for alpha olefin sulfonates. The global demand for alpha olefin sulfonates from various applications including detergents, shampoos, bar soap, and others is expected to increase during the forecast period. Request Report Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=248443464 Market Dynamics Driver: High Demand for Cleaning Products The demand for cleaning products such as shampoos, soaps, face wash, and detergents are high resulting in increased demand for alpha olefin sulfonate used as surfactant. Alpha olefin sulfonate has high foamability and compatibility with skin and fabrics resulted in becoming the key ingredient in detergent and cosmetic sector. It is free from skin irrit
Post a Comment
Read more

Polybutene Market Shares, Strategies, and Forecasts Analysis 2027

  The Polybutene Market is projected to reach USD 446.1 million by 2027, at a CAGR of 2.1 % from USD 402.3 million in 2022. The rising demand for polybutene to is expected to fuel the market growth. It offers high strength and superior performance properties with customized sealing temperatures. Due to these properties, it is widely used in seal-peel or easy peel packaging for meats, cheese and other products. Download PDF Brochure At https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=173570460   “Based on grade, extrusion is projected to grow at highest CAGR during the forecast period” Extrusion grade is projected to grow at highest CAGR during the forecast period. The high demand for polybutene in construction sector is driving the market growth. Due to its superior chemical and mechanical properties, polybutene is widely used advanced construction systems. “Packaging system is projected to be the fastest growing application in polybutene market, in terms of value”
Post a Comment
Read more

Digitally Printed Wallpaper Market Statistics, Trends, Growth and Demand Report 2022- 2027

  The global digitally printed wallpaper market size in 2022 is estimated at USD 4.7 billion and is projected to reach USD 13.1 billion by 2027, at a CAGR of 22.4% from 2022 to 2027. The major drivers for the market include an growth in urbanization and increasing construction activities. However, rivalry from paint & coating producers limits the market growth. Moreover, the ever-increasing growth in commercial and marketing sectors is projected to boost the market for digitally printed wallpaper. Browse 162 market data Tables and 28 Figures spread through 152 Pages and in-depth TOC on  "Digitally Printed Wallpaper Market by Printing Technology (Inkjet, Electrophotography), Substrate (Nonwoven, Vinyl, Paper), End-Use Sector (Non-Residential, Residential, Automotive & Transportation) and Region - Global Forecast to 2027 " Request Report Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=81489419 Key companies such as A.S. Création Tapeten AG (Ger
Post a Comment
Read more