Global Solvent Market Dynamics and Strategies in A Changing Environment
The global solvent market
is constantly evolving and changing. This means that the industry must put
forward new strategies so that it can remain competitive in order to survive.
In this article, you will learn about how the global solvent market has evolved
over time and what changes are currently being made so that future
sustainability can be ensured.
What is the
global solvent market?
The global
solvent market is the largest product market in the world, raking in over $1
trillion in sales in 2016. The market is expected to grow at a compounded
annual rate of over 6% through 2021. The growth of the global solvent market is
driven by increasing demand for lubricants and cleaning solutions, as well as
rising automotive industry standards.
What are the
key players in the global solvent market?
The top
three players in the global solvent market are P&G, LyondellBasell, and
BASF. These companies account for over 50% of the market share. Other major
players include Unilever, ExxonMobil, and Shell.
What are
some of the trends affecting the global solvent market?
Some of the
key trends affecting the global solvent market include increasing demand for
lubricants and cleaning solutions, growing automotive industry standards, and
increasing focus on sustainability.
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Global
solvent markets across Asia
The global
solvent market is expected to grow by 7.5% during the forecast period, owing to
increasing demand from the automotive and construction industries. However,
volatile prices and limited supply are expected to restrain growth in some
regions. Asia will continue to be the leading region for the global solvent
market, owing to high demand from the automotive and construction industries.
Rising investment in infrastructure projects in China and India will spur
demand for solvents, while escalating environmental concerns in Southeast Asia
are also expected to boost sales of environmental protection products. South
America will account for a smaller share of the global market due to the
highcost of raw materials and stringent regulations in many countries.
Market for
acid catalyzed polymers
The global
solvent market is forecast to grow at a CAGR of around 4.5% during the forecast
period 2019-2025. This growth is mainly due to the increasing demand for acid
catalyzed polymers from various industrial applications. The market for acid
catalyzed polymers is segmented into two major categories-ionic and cationic.
The ionic category dominates the market, accounting for almost two-thirds of
the total market share. The primary reasons for this are the high demand from
the automotive and electronics industries.
The cationic
category is expected to grow at a faster rate than the ionic category over the
next ten years, owing to the increasing demand from the pharmaceutical and
agrochemical industries. These industries are looking for more environmentally
friendly solvents that do not harm the environment. Some of the key players in
this market include BASF SE (Germany), Evonik Industries AG (Germany),
Albemarle Corporation (US), and Huntsman Corporation (US).
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Manufacturers
of Global Solvents
Global
solvent manufacturers are looking for ways to stay ahead of the competition as
the global market undergoes changes. The development of new technologies and
the increased demand for environmental cleanup are some of the factors driving
the market growth. Manufacturers are also increasing their investment in
research and development to develop new solvents and products.
To stay
ahead of the competition, many manufacturers are focusing on expanding their
product lines. They are also investing in R&D to develop new solvents and
products that can meet the needs of customers. In addition, they are trying to improve
their marketing strategies to reach more customers.
The global
solvent market is forecast to grow at a rate of 6.8% over the next five years.
This growth will be fueled by increasing demand for environmental cleanup,
growth in the industrial sector, and increasing investments in R&D.
Key players
in the global solvent market
The global
solvent market is expected to grow at a CAGR of 5.4% over the forecast period
2017-2021. The market has witnessed an increase in demand for solvents owing to
the increasing need for product reliability and improved performance. The
rising prosperity of the Asia Pacific region is expected to be one of the key
drivers for the growth of the global solvent market.
The key
players in the global solvent market are Dow Chemical Company, BASF SE, Akzo
Nobel N.V., The Clorox Company, Huntsman Corporation, and Solvay SA. These
companies are focusing on developing new products and expanding their
operations into new markets. These players are also investing in R&D to
improve their products and expand their reach into new markets.
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