According to the current analysis of Reports and Data, the global Solvents Market was valued at USD 30.86 Billion in 2022 and is expected to reach USD 42.08 Billion by year 2032, at a CAGR of 3.7%. The study covers in-depth analysis of solvents and discusses about its usage in various applications. A solvent is a liquid substance that allows other substances Solvents are very versatile, and can be produced or blended to meet very specific requirements, and to make products with optimal performance, including spray paints that dry quickly and don't clog the spray nozzle; inks that don't smudge; outdoor paints that look good and last a long time; and, strong cleaners that are good for tough jobs.
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Market Scenario:
The materials and chemicals sector has significantly grown over the recent years and is expected to register robust revenue CAGR over the forecast period. The materials and chemicals sector comprises daily wear products such as detergents, perfumes, soaps, and other raw materials and chemicals used in the manufacturing of other products. There has been a significant increase in the demand for raw materials and chemicals across various industrial sectors such as healthcare and pharmaceuticals, automotive, agriculture, manufacturing, paint, and food and beverages among others. Factors such as increasing awareness about green energy and excess carbon emission, changing consumer preference, growing adoption of biodegradable, sustainable and eco-friendly products, and rapidly expanding industries and building and construction sector are expected to boost global market revenue growth going ahead.
Major Companies:
· Dow Chemical
· LyondellBasell
· Exxon Mobil
· Eastman Chemical
· Archer-Daniels-Mildland (ADM)
· Royal Dutch Shell Plc.
· BASF SE
Competitive Landscape:
The report further sheds light on the competitive landscape and provides in depth information about each market player including its global position, product portfolio, financial standing, revenue growth and company overview. The market players are focused on adopting various inorganic and organic growth strategies such as mergers and acquisitions, joint ventures, collaborations, product launches and partnerships to gain a robust footing in the market.
Key questions addressed in the report:
· What is the expected market size of the global Solvents market during the forecast period?
· What CAGR is the global market expected to register during the forecast period?
· Which key factors are expected to boost global market growth between 2021 and 2028?
· What are the key restraints that are expected to hamper global market growth?
· Which regional market is expected to register robust CAGR during the forecast period?
· Which key players are operating the global Solvents market?
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Solvents Market Segmentation:
Type Outlook:
- Oxygenated
- Hydrocarbon
- Halogenated
Application Outlook:
- Paints & Coatings,
- Printing Inks
- Polymer Manufacturing,
- Cosmetics
Regional Outlook:
· North America
o U.S.
o Canada
o Mexico
· Europe
o Germany
o U.K.
o Italy
o France
o BENELUX
o Rest of Europe
· Asia Pacific
o China
o India
o Japan
o South Korea
o Rest of APAC
· Latin America
o Brazil
o Rest of LATAM
· Middle East & Africa
o Saudi Arabia
o U.A.E.
o South Africa
o Rest of MEA
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