Solvents Market was valued US$ 58.94 Bn 2021 and is expected to reach US$ 81.92 Bn by 2029, at a CAGR of 4.2% during a forecast period.
Solvents Market Overview:
The Solvents market study gives a comprehensive view of the competition, including the market share and company profiles of the major global competitors. The scope of the research includes a full examination of the Solvents Market, as well as the reasons for variations in the industry’s growth between regions.
Market Scope:
Following the completion of market engineering, which included market statistics computations, market size estimations, market forecasts, market breakdown, and data triangulation, extensive primary research was done to gather information and verify and validate important numbers. To undertake market estimating and forecasting for the overall market segments and sub-segments described in this research, top-down and bottom-up tactics, as well as different data triangulation procedures, were often employed throughout the market engineering process. Extensive qualitative and quantitative analysis is performed on all data obtained during the market engineering process in order to provide essential information throughout the report.
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Segmentation:
In terms of application, paint and coating sector is estimated to dominate the market growth during forecast period. Development in infrastructure and automobile industries are expected to adopt by various industries which is expected to boost the market growth. Bio-based solvents are in use for painting and coating purpose to dissolve binders and color to provide good consistency. However, Industrial Coatings made with solvents dry up to 10 times faster than low-solvent alternatives at room temperature, making painting fast and easy along with other benefits such as long-lasting protection, brilliant performance in extreme weather conditions and many more.
Key Players:
• Royal Dutch Shell
• Eastman Chemical Company
• BASF SE
• ExxonMobil Corporation
• LyondellBasell Industries Holdings B.V
• Ashland Global Holdings
• Celanese Corporation
• Huntsman Corporation
• Solvay
• Honeywell International
• Ineos Group
• Sasol Solvents
• Dow Chemicals
• Chr Hansen Holding A/S
• Ajinomoto
• Herza Chocolate GmbH & Co. KG
• Indena Spa
• Martin Bauer Group
• Frutarom Ltd.
Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers’ annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data.
The biggest players in the Solvents market are as follows:
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Regional Analysis:
Individual market influencing components and changes in market laws impacting current and future market trends are also covered in the Solvents market analysis regional overview. Current and future trends are studied in order to evaluate the overall market potential and find profitable patterns in order to get a firmer footing. The geographical market evaluation is based on the current environment and anticipated trends.
COVID-19 Impact Analysis on Solvents Market:
Due to a break in operations, end-user sectors where Solvents are used suffered a drop in growth from January 2020 to May 2020 in a number of countries, including China, Italy, Germany, the United Kingdom, the United States, and Spain, France, and India. As a result, the revenues of enterprises in these industries fell significantly, as did the demand for Solvents manufacturers, impacting the growth of the Solvents market in 2020. Lockdowns and a surge in COVID-19 events globally have severely reduced end-user business demand for Solvents.
Key Questions Answered in the Solvents Market Report are:
- In 2021, which segment held the highest proportion of the Solvents market?
- What is the Solvents market’s competitive landscape?
- What are the primary drivers assisting Solvents market growth?
- Which region has the most market share in the Solvents market?
- What will be the Solvents market’s CAGR throughout the projected period (2022-2027)?
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