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

Imerys S.A. (France) and Omya AG (Switzerland) are the Key Players in the Calcite Market

  In terms of value, the global Calcite Market size is estimated to be USD 10.1 billion in 2019 and projected to reach USD 13.0 billion by 2024, growing at a CAGR of 5.2% from 2019 to 2024. Browse 105 Market Data Tables and 36 Figures spread through 145 Pages and in-depth TOC on  "Calcite Market”.  Request Report Sample @ https://www.marketsandmarkets.com/requestsampleNew.asp?id=50319659 Imerys S.A. (France) is one of the leading players in the calcite market and has been adopting inorganic & organic strategies to sustain its market position. For instance, in November 2019, Imerys S.A. acquired some assets of the EDK Company, a leading producer of ground calcium carbonates (GCC) in Brazil. These assets include three operating plants and 100 employees, which generated annual revenues of USD 15.5 million in 2018. In February 2018, Imerys S.A. acquired the carbonate business of Vimal Microns (India), a major producer of ground calcium carbonate...
Post a Comment
Read more

Who are the key manufacturers in the Ammonia Refrigerants Market?

  The ammonia refrigerants market is projected to reach USD 86.5 million by 2030, at a CAGR of 5.7% from USD 55.5 million in 2022. Ammonia is one of the most efficient refrigerants available and has a wide range of uses at different temperature and capacity. In addition to being natural the use of ammonia opens up the possibility of reduced energy consumption and secures long-term costs efficiency and sustainability. Ammonia is most commonly used for air conditioning systems and refrigeration systems. Download PDF Brochure @ https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=254343156 Market Dynamics Driver: Eco-friendly aspect to drive the market One of the biggest advantages of ammonia gas as the refrigerant is that it is safe to the environment and does not cause any depletion of the ozone layer. Due to this it won’t have to be replaced with any alternative refrigerants as is the case with number of chlorofluorocarbons (CFCs). Ammonia is the oldest of all the refri...
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 T...
Post a Comment
Read more