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Industrial Solvents Market By Type (Alcohols, Ketones, Esters, Glycols, Others); By Application (Paints & Coatings, Pharmaceuticals, Printing Inks, Adhesives & Sealants, Others); By End-Use (Construction, Automotive, Electronics, Agriculture, Others); By Source (Petrochemical-Based Solvents, Bio-Based Solvents) – Growth, Share, Opportunities & Competitive Analysis, 2024 – 2032

Name: Industrial Solvents Market - Demand, Size and Competitive Analysis
Creator: Credence Research Inc.
Published: 2025-04-30
License: https://www.credenceresearch.com/info/privacy-policy
Keywords: Industrial Solvents Market

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REPORT ATTRIBUTE	DETAILS
Historical Period	2020-2023
Base Year	2024
Forecast Period	2025-2032
Industrial Solvents Market Size 2024	USD 34,660.50 Million
Industrial Solvents Market, CAGR	7.24%
Industrial Solvents Market Size 2032	USD 60,647.79 Million

Market Overview

Global Industrial Solvents market size was valued at USD 34,660.50 million in 2024 and is anticipated to reach USD 60,647.79 million by 2032, at a CAGR of 7.24% during the forecast period (2024-2032).

The global industrial solvents market is experiencing strong growth, driven by rising demand across industries such as pharmaceuticals, paints and coatings, adhesives, and chemicals. Increasing urbanization, infrastructure development, and the expansion of manufacturing sectors are boosting solvent consumption worldwide. Additionally, the growing adoption of environmentally friendly and bio-based solvents, propelled by stringent environmental regulations and heightened sustainability awareness, is shaping market trends. Advances in solvent technology, including innovations aimed at improving efficiency and reducing toxicity, are further enhancing market potential. Emerging economies, particularly in Asia-Pacific and Latin America, are witnessing robust industrialization, creating new opportunities for market expansion. Furthermore, the shift toward water-based and green solvents in response to consumer preferences for safer, eco-friendly products continues to influence product development strategies across the industry.

The global industrial solvents market is influenced by regional dynamics, with key players across North America, Europe, and Asia-Pacific driving substantial growth. North America and Europe are major hubs due to stringent environmental regulations and advanced manufacturing industries, which have spurred demand for sustainable solvent solutions. In contrast, Asia-Pacific leads in industrial solvent consumption, driven by rapid industrialization, growing construction sectors, and expanding automotive and electronics industries. Companies like BASF SE, Dow Inc., ExxonMobil Corporation, and Shell Chemicals are dominant players in the market, offering a wide range of solvent solutions across various industries, including automotive, pharmaceuticals, and paints & coatings. These key players are investing in technological innovations, product diversification, and sustainable alternatives to meet regulatory requirements and consumer demand for eco-friendly solutions. As regional demand shifts toward green solvents, these companies are strategically positioning themselves to capture growth opportunities in emerging markets.

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Market Insights

The global industrial solvents market was valued at USD 34,660.50 million in 2024 and is expected to reach USD 60,647.79 million by 2032, growing at a CAGR of 7.24% during the forecast period (2024-2032).
Growing demand for bio-based and green solvents is a major driver, as industries move toward eco-friendly alternatives to meet sustainability goals.
Increased industrialization in emerging economies, especially in Asia-Pacific, is fueling demand for solvents in sectors like automotive, construction, and electronics.
Technological advancements are enhancing the performance of solvents, including improved solubility and toxicity profiles, driving demand for specialized formulations.
Stringent environmental regulations and the push for low-VOC and non-toxic solvents are influencing the market toward greener options.
The market is highly competitive, with key players like BASF, Dow Inc., and ExxonMobil leading in innovation and product offerings.
North America and Europe lead the market, but Asia-Pacific is expected to dominate in terms of growth due to industrial expansion.

Report Scope

This report segments the Global Industrial Solvents Market as follows:

Market Drivers

Expanding Industrial and Manufacturing Activities

The growth of industrial and manufacturing sectors globally is a primary driver of the industrial solvents market. Increasing demand from industries such as automotive, construction, textiles, and chemicals has significantly boosted solvent consumption. For instance, the Annual Survey of Industries conducted by the Ministry of Statistics and Program Implementation highlights the expansion of manufacturing activities, with industrial output increasing across multiple sectors. Solvents play a crucial role in processes such as cleaning, degreasing, and chemical synthesis, making them indispensable in production operations. With emerging economies investing heavily in infrastructure and manufacturing capabilities, the need for high-performance solvents is expected to surge. Additionally, the rise in customized manufacturing solutions and the growing trend of industrial automation are creating new avenues for solvent application, further driving market expansion.

Technological Advancements and Innovation in Solvent Applications

Continuous advancements in solvent technology are another key driver of market growth. Research and development efforts are focused on creating solvents that offer improved performance, greater efficiency, and reduced environmental impact. For instance, the India Solvent Market Report discusses innovations in solvent applications, including hybrid solvent systems and multifunctional solvents. Innovations such as low-toxicity solvents, hybrid solvent systems, and multifunctional solvents are gaining traction across industries. Moreover, the increasing application of solvents in emerging fields like electronics, 3D printing, and energy storage technologies is opening new growth opportunities. Companies that invest in cutting-edge technologies and innovative product development are positioning themselves to capitalize on the evolving needs of diverse industrial sectors, ensuring long-term market expansion.

Rising Demand from Pharmaceuticals and Personal Care Sectors

The pharmaceutical and personal care industries are major contributors to the growth of the global industrial solvents market. Solvents are essential in drug formulation, extraction, purification, and the production of active pharmaceutical ingredients (APIs). The global increase in healthcare spending, a surge in pharmaceutical R&D activities, and the expansion of personal care product lines are intensifying the demand for specialized solvents. Furthermore, the development of new drug delivery systems and biopharmaceuticals requires high-purity solvents, thereby stimulating market growth. As consumers demand more health-conscious and safe personal care products, the industry is increasingly favoring bio-based and low-toxicity solvents, driving innovation in solvent formulations.

Shift Towards Eco-Friendly and Bio-Based Solvents

Growing environmental concerns and stringent regulatory frameworks are pushing industries toward the adoption of eco-friendly and bio-based solvents. Governments across regions are implementing strict emissions standards, encouraging manufacturers to reduce the use of volatile organic compounds (VOCs) and hazardous chemicals. This regulatory pressure is fostering the development and commercialization of green solvents derived from renewable sources such as corn, sugarcane, and soybeans. Industries are increasingly investing in sustainable practices and are incorporating bio-based alternatives into their product portfolios. This shift not only helps companies align with environmental standards but also meets the rising consumer demand for sustainable and safer chemical solutions.

Market Trends

Growing Adoption of Bio-Based and Green Solvents

The shift toward sustainability is significantly shaping the industrial solvents market, with increasing adoption of bio-based and green solvents. Industries are under rising pressure to reduce their environmental footprint and comply with stringent environmental regulations regarding volatile organic compounds (VOCs) and hazardous emissions. For instance, the Green Solvents and Bio-Solvents Market Report highlights that the market is witnessing substantial growth due to increasing regulatory pressures and environmental concerns. Consequently, manufacturers are investing heavily in the development of renewable, biodegradable, and non-toxic solvent alternatives derived from natural sources like corn, soy, and sugarcane. This trend not only helps companies achieve regulatory compliance but also meets the growing consumer demand for eco-friendly products, especially in sectors such as personal care, paints and coatings, and pharmaceuticals.

Technological Innovations Driving Performance Enhancement

Ongoing technological advancements are significantly enhancing solvent performance, creating new market opportunities. Innovations are focused on improving solvent properties such as solubility, volatility, and toxicity profiles, making them more efficient and safer for end-users. For instance, the Call for Proposal for Advancing Innovations in Eco-Friendly Chemical Technologies discusses India’s efforts to strengthen technology development in the chemical sector, including innovations in green chemistry and process optimization. Hybrid solvents and tailor-made solvent blends are gaining popularity, offering superior results in specialized applications. Furthermore, advancements in nanotechnology and chemical engineering are enabling the creation of next-generation solvents designed for high-tech and sensitive industries. As industries increasingly demand high-performance, cost-effective, and environmentally safe solutions, technological innovation will continue to play a pivotal role in shaping the future trajectory of the global industrial solvents market.

Expansion of Solvent Applications Across Emerging Industries

Industrial solvents are finding new applications beyond traditional sectors, driving diversification within the market. Emerging industries such as electronics, energy storage, and 3D printing are increasingly utilizing specialized solvents for manufacturing processes and product development. In electronics, solvents are essential for cleaning components and in the production of semiconductors. Similarly, the demand for solvents in battery production for electric vehicles is growing rapidly. The continuous innovation across emerging technologies is widening the scope of solvent applications, encouraging manufacturers to develop more tailored and performance-enhancing solvent solutions to meet specific industrial needs.

Increasing Focus on Solvent Recycling and Reuse

Sustainability initiatives have also spurred a growing emphasis on solvent recycling and reuse across industries. Companies are investing in technologies that enable the recovery and purification of used solvents, reducing operational costs and minimizing environmental impact. Solvent recycling not only helps industries meet regulatory compliance but also aligns with corporate sustainability goals, providing a competitive edge in the market. The trend toward closed-loop systems and circular economy models is particularly prominent in the pharmaceutical, chemical, and manufacturing sectors. As industries prioritize resource efficiency, the demand for advanced solvent recovery systems is expected to rise steadily.

Market Challenges Analysis

Stringent Environmental Regulations and Health Concerns

The global industrial solvents market faces significant challenges due to increasingly stringent environmental regulations and growing health concerns. Regulatory bodies across North America, Europe, and parts of Asia are imposing stricter controls on the use and emissions of volatile organic compounds (VOCs) and hazardous air pollutants (HAPs) associated with traditional solvents. For instance, a Centre for Policy Research (CPR) study examines the effectiveness of environmental regulations in addressing industrial pollution, highlighting compliance challenges and enforcement mechanisms. These regulations compel manufacturers to reformulate products, invest in cleaner technologies, and transition toward eco-friendly alternatives, often resulting in higher operational costs. Furthermore, rising awareness of the potential health risks associated with prolonged solvent exposure — including respiratory problems and neurological effects — is prompting industries to limit the use of conventional solvents. The growing preference for low-VOC and non-toxic formulations puts pressure on companies to innovate while ensuring compliance, ultimately posing a challenge to maintaining profitability and operational efficiency.

Fluctuating Raw Material Prices and Supply Chain Disruptions

Another major challenge for the industrial solvents market is the volatility of raw material prices, particularly petrochemical-based feedstocks. Solvent production heavily depends on derivatives of crude oil and natural gas, making the market highly susceptible to fluctuations in global energy prices. Sudden price surges can significantly impact production costs and profit margins, especially for small and medium-sized enterprises. In addition, ongoing global supply chain disruptions driven by geopolitical tensions, trade restrictions, and transportation bottlenecks have further strained the availability of essential raw materials. These disruptions not only affect manufacturing timelines but also lead to uncertainties in product pricing and availability. To mitigate these risks, companies must diversify their supply sources, invest in supply chain resilience, and explore alternative feedstocks, all of which require substantial strategic planning and financial investment.

Market Opportunities

The global industrial solvents market presents significant growth opportunities driven by the increasing demand for sustainable and high-performance chemical solutions across multiple industries. The growing shift toward environmentally friendly practices is creating a strong market for bio-based and green solvents. With governments and regulatory agencies enforcing stricter emissions standards and promoting the use of low-VOC and non-toxic materials, industries are actively seeking alternative solvent solutions that align with sustainability goals. This shift has opened avenues for innovation in solvent formulations, especially those derived from renewable sources such as plant-based alcohols and esters. Companies that invest in the research and development of eco-friendly solvents stand to benefit from rising consumer awareness and regulatory incentives. Furthermore, growing application in sectors like pharmaceuticals, food processing, and personal care—where solvent purity and safety are critical—offers ample room for the introduction of high-value, specialty solvent products.

Emerging economies in Asia-Pacific, Latin America, and the Middle East also offer robust market expansion potential due to rapid industrialization, urban development, and growing investment in manufacturing and infrastructure projects. As these regions continue to strengthen their industrial base, the need for effective solvents in sectors such as construction, paints and coatings, and adhesives will rise accordingly. Additionally, advancements in technologies such as nanotechnology, electronics manufacturing, and battery production are fostering demand for specialized solvent applications, creating new growth opportunities for market players. Solvents used in electric vehicle battery components, for example, represent a fast-growing niche within the broader chemicals market. Companies that can adapt their product lines to meet the evolving technical and regulatory needs of these emerging applications will be well-positioned to capture market share and establish long-term competitive advantages. Strategic partnerships, localized production, and innovation-led product diversification will be key to unlocking these opportunities on a global scale.

Market Segmentation Analysis:

By Type:

The global industrial solvents market is diversified into several key types, each serving distinct industries. Alcohols are widely used in various applications, particularly in paints and coatings, pharmaceuticals, and cosmetics, due to their excellent solvency properties and ability to dissolve both hydrophilic and hydrophobic substances. Ketones are another crucial segment, known for their high effectiveness as cleaning agents and in applications like coatings and adhesives, where fast evaporation is beneficial. Esters are favored in industries like paints, coatings, and fragrances due to their pleasant odor and good solubility, making them ideal for products that require both performance and aesthetics. Glycols are often employed in antifreeze formulations, paints, and coatings, due to their ability to dissolve a wide range of substances and low toxicity. The Others category includes various solvents such as hydrocarbons, which find uses across multiple applications. These solvent types are pivotal in ensuring product performance, sustainability, and regulatory compliance across diverse industries.

By Application:

The industrial solvents market is also segmented based on its diverse applications. Paints & coatings represent a significant share of the market, driven by demand in automotive, construction, and industrial sectors. Solvents are critical in formulating paints and coatings, allowing proper dispersion of pigments and ensuring uniform consistency. Pharmaceuticals is another prominent application, with solvents playing a vital role in drug formulation, extraction, and purification processes. The need for high-purity solvents in pharmaceutical production is paramount to ensure safety and efficacy. Printing inks rely heavily on industrial solvents, as they aid in controlling viscosity and drying times. Solvents also help in maintaining ink stability and performance during high-speed printing. Adhesives & sealants require specific solvents to adjust their viscosity and provide optimal bonding strength, especially in industries such as automotive, construction, and packaging. Lastly, the Others segment includes diverse applications such as textiles, agriculture, and electronics, where solvents are used for cleaning, extraction, and as chemical intermediates. Each application segment drives unique demand, contributing to the overall growth and diversification of the global industrial solvents market.

Segments:

Based on Type:

Alcohols
Ketones
Esters
Glycols
Others

Based on Application:

Paints & Coatings
Pharmaceuticals
Printing Inks
Adhesives & Sealants
Others

Based on End- Use:

Construction
Automotive
Electronics
Agriculture
Others

Based on Source:

Petrochemical-Based Solvents
Bio-Based Solvents

Based on the Geography:

North America
- U.S.
- Canada
- Mexico
Europe
- UK
- France
- Germany
- Italy
- Spain
- Russia
- Belgium
- Netherlands
- Austria
- Sweden
- Poland
- Denmark
- Switzerland
- Rest of Europe
Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Thailand
- Indonesia
- Vietnam
- Malaysia
- Philippines
- Taiwan
- Rest of Asia Pacific
Latin America
- Brazil
- Argentina
- Peru
- Chile
- Colombia
- Rest of Latin America
Middle East
- UAE
- KSA
- Israel
- Turkey
- Iran
- Rest of Middle East
Africa
- Egypt
- Nigeria
- Algeria
- Morocco
- Rest of Africa

Regional Analysis

North America

North America holds a significant share of the global industrial solvents market, accounting for approximately 30% of the total market revenue. The demand for industrial solvents in this region is primarily driven by the robust automotive, pharmaceuticals, and paints and coatings sectors. The U.S., in particular, is a key player due to its advanced manufacturing capabilities and significant presence of multinational chemical companies. Stringent environmental regulations, including the EPA’s initiatives to reduce VOC emissions, are pushing industries toward greener solvent alternatives, such as bio-based and low-toxicity solvents. Furthermore, the increasing trend of sustainability and eco-conscious products in the region continues to bolster the demand for these innovative solutions. The well-established regulatory framework, combined with strong industrial demand, positions North America as a leading market for industrial solvents.

Europe

Europe is another prominent region in the global industrial solvents market, holding around 25% of the market share. The European market is highly driven by the demand from automotive, construction, and chemical manufacturing industries, where solvents are critical in product formulation and production processes. The European Union’s stringent environmental regulations, such as the REACH (Registration, Evaluation, Authorization, and Restriction of Chemicals) regulations, have significantly influenced solvent formulations, pushing companies toward the use of more sustainable and environmentally friendly options. Germany, France, and the UK are major contributors to the demand for industrial solvents, with Germany being the largest market in the region due to its strong industrial base and chemical industry presence. The growing emphasis on sustainability and regulatory compliance is shaping the regional market dynamics, fostering the shift to green solvents.

Asia-Pacific

The Asia-Pacific region dominates the global industrial solvents market with the largest share of 40%, driven by rapid industrialization and urbanization in countries such as China, India, and Japan. The region’s high demand for solvents in paints and coatings, pharmaceuticals, adhesives, and automotive manufacturing is fueling market growth. China, as the world’s largest chemical producer, is a major contributor to the region’s solvent consumption, with a rapidly expanding industrial sector. Additionally, the growing construction, automotive, and electronics industries in India and Southeast Asia further boost demand. The Asia-Pacific market is also seeing an increased focus on regulatory changes, pushing for lower-VOC solvents, especially in countries like Japan and South Korea. The region’s growing middle class, increased consumer demand for industrial products, and government support for infrastructure development provide a solid foundation for continued market growth.

Rest of the World (RoW)

The Rest of the World (RoW) region, which includes Latin America, the Middle East, and Africa, accounts for around 5% of the global industrial solvents market. Latin America, particularly Brazil and Mexico, has seen steady growth in demand for solvents, driven by the expansion of the automotive and construction industries. In the Middle East, the ongoing industrial growth in countries like Saudi Arabia and the UAE is contributing to the demand for solvents, especially in the petrochemical and construction sectors. Africa, while a smaller market, is experiencing growth due to increasing industrialization and the need for solvents in various applications, including agriculture and chemicals. Although the RoW region holds a smaller share of the market, its growth potential is substantial due to the ongoing industrial development and investments in infrastructure.

Key Player Analysis

BASF SE
Dow Inc.
ExxonMobil Corporation
Shell Chemicals
LyondellBasell Industries
Solvay S.A.
Eastman Chemical Company
INEOS Group
Arkema S.A.
Ashland Global Holdings Inc.

Competitive Analysis

The global industrial solvents market is highly competitive, with major players constantly innovating to maintain their market share. Leading companies such as BASF SE, Dow Inc., ExxonMobil Corporation, Shell Chemicals, LyondellBasell Industries, Solvay S.A., Eastman Chemical Company, INEOS Group, Arkema S.A., and Ashland Global Holdings Inc. are key contributors to the industry’s growth. These players offer a wide range of solvent solutions tailored to various industries, including automotive, paints & coatings, pharmaceuticals, and electronics. To stay ahead, they are investing heavily in research and development (R&D) to develop more sustainable, low-VOC, and bio-based solvent alternatives. A strong emphasis is placed on developing eco-friendly solutions, particularly bio-based and low-VOC solvents, to meet growing environmental concerns and stringent regulations. As sustainability becomes a major market driver, many players are investing heavily in research and development to create solvents that align with global environmental goals. Additionally, mergers, acquisitions, and strategic partnerships are common approaches for strengthening market presence and expanding capabilities. Companies are also adopting technology-driven solutions to enhance the efficiency, performance, and safety of their solvent products. Geographically, competition is especially fierce in emerging markets, where increasing industrialization and urbanization are driving solvent demand. The focus is also on gaining a foothold in the rapidly growing Asia-Pacific region, which presents significant opportunities due to its expanding automotive, construction, and manufacturing sectors. Overall, the competitive landscape is shaped by innovation, sustainability efforts, and geographical expansion strategies, which will continue to fuel market growth.

Recent Developments

In April 2025, Eastman announced off-list price increases for several EOD (Ethylene Oxide Derivatives) solvents, including Eastman™ DB Solvent, effective April 7, 2025, reflecting ongoing cost and market pressures.
In March 2025, BASF reported generating approximately €11 billion in 2024 sales from products launched in the past five years, driven by R&D focused on sustainability, biodegradable materials, and digital transformation. The company filed 1,159 new patents in 2024, with 45% targeting sustainability. R&D investment in 2024 was €2.1 billion, with a similar budget planned for 2025.
In March and April 2025, Shell is restructuring its global chemicals business to boost profitability and reduce capital spending by 2030. This includes exploring strategic partnerships in the U.S., potentially closing some European assets, and selling existing assets like the Singapore refinery and chemical complex. The company aims to streamline operations, focus on core businesses, and improve returns for shareholders.
In March 2025, BASF is expanding its production capacity for aminic antioxidants at its Puebla, Mexico site, targeting the growing demand for long-life lubricants. The project is set for completion in 2026.
In March 2025, ExxonMobil announced a $100 million upgrade to its Baton Rouge, Louisiana plant to produce ultra-high-purity (99.999%) isopropyl alcohol (IPA) for the semiconductor industry by 2027.
In March 2024, Dow announced plans to invest in new ethylene derivatives capacity-including carbonate solvents-on the U.S. Gulf Coast. This investment, supported by the U.S. Department of Energy, aims to supply carbonate solvents for lithium-ion batteries, supporting the domestic EV and energy storage market. The facility will capture over 90% of CO₂ from ethylene oxide production, aligning with sustainability goals.

Market Concentration & Characteristics

The global industrial solvents market is moderately concentrated, with a few large players holding a significant share, while also featuring numerous smaller companies that contribute to the diversity of offerings. Major market players leverage economies of scale, extensive distribution networks, and advanced R&D capabilities to maintain their competitive edge. However, there is room for innovation, particularly in the growing segment of green solvents, which is attracting new entrants focused on sustainability. The market characteristics are shaped by a high degree of product differentiation, as solvents are tailored for specific applications across industries like automotive, paints & coatings, pharmaceuticals, and electronics. Additionally, regulatory pressures regarding environmental sustainability and VOC emissions are pushing companies toward developing more eco-friendly and low-toxicity products. The competition is fierce, with companies striving for global reach through mergers, acquisitions, and technological advancements while balancing the demand for performance with environmental considerations.

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Report Coverage

The research report offers an in-depth analysis based on Type, Application, End-Use, Source and Geography. It details leading market players, providing an overview of their business, product offerings, investments, revenue streams, and key applications. Additionally, the report includes insights into the competitive environment, SWOT analysis, current market trends, as well as the primary drivers and constraints. Furthermore, it discusses various factors that have driven market expansion in recent years. The report also explores market dynamics, regulatory scenarios, and technological advancements that are shaping the industry. It assesses the impact of external factors and global economic changes on market growth. Lastly, it provides strategic recommendations for new entrants and established companies to navigate the complexities of the market.

Future Outlook

The global industrial solvents market is expected to witness steady growth due to increasing industrialization and urbanization in emerging economies.
Demand for bio-based and eco-friendly solvents will rise as industries aim to meet stricter environmental regulations and sustainability goals.
Technological advancements in solvent formulations will continue to enhance performance, focusing on low-toxicity and high-efficiency products.
The automotive, construction, and electronics sectors will drive significant demand for solvents, especially in Asia-Pacific.
Increased emphasis on regulatory compliance for low-VOC and non-toxic solvents will shape the development of new products.
As industrial applications become more specialized, there will be greater demand for niche solvent solutions tailored to specific needs.
Strategic collaborations and partnerships among major market players will lead to product innovation and market expansion.
The growing trend of green chemistry and sustainability will foster the adoption of renewable solvents across various industries.
The market will continue to see strong competition, with both established companies and new entrants vying for market share.
Emerging economies in regions like Latin America and Africa will present new growth opportunities as their industrial sectors expand.

CHAPTER NO. 1 : INTRODUCTION 29
1.1.1. Report Description 29
Purpose of the Report 29
USP & Key Offerings 29
1.1.2. Key Benefits for Stakeholders 29
1.1.3. Target Audience 30
1.1.4. Report Scope 30
1.1.5. Regional Scope 31
CHAPTER NO. 2 : EXECUTIVE SUMMARY 32
2.1. Industrial Solvents Market Snapshot 32
2.1.1. Global Industrial Solvents Market, 2018 – 2032 (USD Million) 33
CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 34
3.1. Russia-Ukraine and Israel-Palestine War Impacts 34
CHAPTER NO. 4 : INDUSTRIAL SOLVENTS MARKET – INDUSTRY ANALYSIS 35
4.1. Introduction 35
4.2. Market Drivers 36
4.2.1. Rising demand for eco-friendly and bio-based solvents 36
4.2.2. Rising demand for eco-friendly and bio-based solvents 37
4.3. Market Restraints 38
4.3.1. Stringent environmental regulations regarding the use of volatile organic compounds (VOCs) 38
4.4. Market Opportunities 39
4.4.1. Innovations in green chemistry to develop sustainable solvent alternatives 39
4.5. Porter’s Five Forces Analysis 40
4.6. Value Chain Analysis 41
4.7. Buying Criteria 42
CHAPTER NO. 5 : IMPORT EXPORT ANALYSIS 43
5.1. Import Analysis by Region 43
5.1.1. Global Industrial Solvents Market Import Volume/Revenue, By Region, 2018 – 2023 43
5.2. Export Analysis by Region 44
5.2.1. Global Industrial Solvents Market Export Volume/Revenue, By Region, 2018 – 2023 44
CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 45
6.1. Demand Analysis by Region 45
6.1.1. Global Industrial Solvents Market Demand Volume/Revenue, By Region, 2018 – 2023 45
6.2. Supply Analysis by Region 46
6.2.1. Global Industrial Solvents Market Supply Volume/Revenue, By Region, 2018 – 2023 46
CHAPTER NO. 7 : PRODUCTION ANALYSIS 47
7.1. Production Analysis by Region 47
7.1.1. Global Industrial Solvents Market Production Volume/Revenue, By Region, 2018 – 2023 47
CHAPTER NO. 8 : PRICE ANALYSIS 48
8.1. Price Analysis by Region 48
8.1.1. Global Industrial Solvents Market Price, By Region, 2018 – 2023 48
8.1.2. Global Type Market Price, By Region, 2018 – 2023 48
8.2. Price Analysis by Type 49
8.2.1. Global Industrial Solvents Market Price, By Type, 2018 – 2023 49
8.2.2. Global Type Market Price, By Type, 2018 – 2023 49
CHAPTER NO. 9 : RAW MATERIALS ANALYSIS 50
9.1. Key Raw Materials and Suppliers 50
9.2. Key Raw Materials Price Trend 50
CHAPTER NO. 10 : MANUFACTURING COST ANALYSIS 51
10.1. Manufacturing Cost Analysis 51
10.2. Manufacturing Process 51
CHAPTER NO. 11 : ANALYSIS COMPETITIVE LANDSCAPE 52
11.1. Company Market Share Analysis – 2023 52
11.1.1. Global Industrial Solvents Market: Company Market Share, by Volume, 2023 52
11.1.2. Global Industrial Solvents Market: Company Market Share, by Revenue, 2023 53
11.1.3. Global Industrial Solvents Market: Top 6 Company Market Share, by Revenue, 2023 53
11.1.4. Global Industrial Solvents Market: Top 3 Company Market Share, by Revenue, 2023 54
11.2. Global Industrial Solvents Market Company Volume Market Share, 2023 55
11.3. Global Industrial Solvents Market Company Revenue Market Share, 2023 56
11.4. Company Assessment Metrics, 2023 56
11.4.1. Stars 56
11.4.2. Emerging Leaders 56
11.4.3. Pervasive Players 56
11.4.4. Participants 56
11.5. Start-ups /SMEs Assessment Metrics, 2023 56
11.5.1. Progressive Companies 56
11.5.2. Responsive Companies 57
11.5.3. Dynamic Companies 57
11.5.4. Starting Blocks 57
11.6. Strategic Developments 58
11.6.1. Acquisitions & Mergers 58
New Product Launch 58
Regional Expansion 58
11.7. Key Players Product Matrix 59
CHAPTER NO. 12 : PESTEL & ADJACENT MARKET ANALYSIS 60
12.1. PESTEL 60
12.1.1. Political Factors 60
12.1.2. Economic Factors 60
12.1.3. Social Factors 60
12.1.4. Technological Factors 60
12.1.5. Environmental Factors 60
12.1.6. Legal Factors 60
12.2. Adjacent Market Analysis 60
CHAPTER NO. 13 : INDUSTRIAL SOLVENTS MARKET – BY TYPE SEGMENT ANALYSIS 61
13.1. Industrial Solvents Market Overview, by Type Segment 61
13.1.1. Industrial Solvents Market Revenue Share, By Type, 2023 & 2032 62
13.1.2. Industrial Solvents Market Attractiveness Analysis, By Type 63
13.1.3. Incremental Revenue Growth Opportunity, by Type, 2024 – 2032 63
13.1.4. Industrial Solvents Market Revenue, By Type, 2018, 2023, 2027 & 2032 64
13.2. Alcohols 65
13.2.1. Global Alcohols Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 66
13.2.2. Global Alcohols Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 66
13.3. Ketones 67
13.3.1. Global Ketones Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 68
13.3.2. Global Ketones Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 68
13.4. Esters 69
13.4.1. Global Esters Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 70
13.4.2. Global Esters Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 70
13.5. Glycols 71
13.5.1. Global Glycols Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 72
13.5.2. Global Glycols Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 72
13.6. Others 73
13.6.1. Global Others Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 74
13.6.2. Global Others Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 74
CHAPTER NO. 14 : INDUSTRIAL SOLVENTS MARKET – BY APPLICATION SEGMENT ANALYSIS 75
14.1. Industrial Solvents Market Overview, by Application Segment 75
14.1.1. Industrial Solvents Market Revenue Share, By Application, 2023 & 2032 76
14.1.2. Industrial Solvents Market Attractiveness Analysis, By Application 77
14.1.3. Incremental Revenue Growth Opportunity, by Application, 2024 – 2032 77
14.1.4. Industrial Solvents Market Revenue, By Application, 2018, 2023, 2027 & 2032 78
14.2. Paints & Coatings 79
14.2.1. Global Paints & Coatings Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 80
14.2.2. Global Paints & Coatings Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 80
14.3. Pharmaceuticals 81
14.3.1. Global Pharmaceuticals Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 82
14.3.2. Global Pharmaceuticals Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 82
14.4. Printing Inks 83
14.4.1. Global Printing Inks Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 84
14.4.2. Global Printing Inks Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 84
14.5. Adhesives & Sealants 85
14.5.1. Global Adhesives & Sealants Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 86
14.5.2. Global Adhesives & Sealants Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 86
14.6. Others 87
14.6.1. Global Others Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 88
14.6.2. Global Others Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 88
CHAPTER NO. 15 : INDUSTRIAL SOLVENTS MARKET – BY END-USE INDUSTRY SEGMENT ANALYSIS 89
15.1. Industrial Solvents Market Overview, by End-Use Industry Segment 89
15.1.1. Industrial Solvents Market Revenue Share, By End-Use Industry, 2023 & 2032 90
15.1.2. Industrial Solvents Market Attractiveness Analysis, By End-Use Industry 91
15.1.3. Incremental Revenue Growth Opportunity, by End-Use Industry, 2024 – 2032 91
15.1.4. Industrial Solvents Market Revenue, By End-Use Industry, 2018, 2023, 2027 & 2032 92
15.2. Construction 93
15.2.1. Global Construction Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 94
15.2.2. Global Construction Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 94
15.3. Automotive 95
15.3.1. Global Automotive Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 96
15.3.2. Global Automotive Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 96
15.4. Electronics 97
15.4.1. Global Electronics Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 98
15.4.2. Global Electronics Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 98
15.5. Agriculture 99
15.5.1. Global Agriculture Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 100
15.5.2. Global Agriculture Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 100
15.6. Others 101
15.6.1. Global Others Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 102
15.6.2. Global Others Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 102
CHAPTER NO. 16 : INDUSTRIAL SOLVENTS MARKET – BY SOURCE SEGMENT ANALYSIS 103
16.1. Industrial Solvents Market Overview, by Source Segment 103
16.1.1. Industrial Solvents Market Revenue Share, By Source, 2023 & 2032 104
16.1.2. Industrial Solvents Market Attractiveness Analysis, By Source 105
16.1.3. Incremental Revenue Growth Opportunity, by Source, 2024 – 2032 105
16.1.4. Industrial Solvents Market Revenue, By Source, 2018, 2023, 2027 & 2032 106
16.2. Petrochemical-Based Solvents 107
16.2.1. Global Petrochemical-Based Solvents Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 108
16.2.2. Global Petrochemical-Based Solvents Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 108
16.3. Bio-Based Solvents 109
16.3.1. Global Bio-Based Solvents Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 110
16.3.2. Global Bio-Based Solvents Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 110
CHAPTER NO. 17 : INDUSTRIAL SOLVENTS MARKET – REGIONAL ANALYSIS 111
17.1. Industrial Solvents Market Overview, by Regional Segments 111
17.2. Region 112
17.2.1. Global Industrial Solvents Market Revenue Share, By Region, 2023 & 2032 112
17.2.2. Industrial Solvents Market Attractiveness Analysis, By Region 113
17.2.3. Incremental Revenue Growth Opportunity, by Region, 2024 – 2032 113
17.2.4. Industrial Solvents Market Revenue, By Region, 2018, 2023, 2027 & 2032 114
17.2.5. Global Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 115
17.2.6. Global Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 115
17.3. Type 116
17.3.1. Global Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 116
17.4. Global Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 116
17.5. Application 117
17.5.1. Global Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 117
17.5.2. Global Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 117
17.6. End-Use Industry 118
17.6.1. Global Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 118
17.6.2. Global Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 118
17.7. Source 119
17.7.1. Global Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 119
17.7.2. Global Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 119
CHAPTER NO. 18 : INDUSTRIAL SOLVENTS MARKET – NORTH AMERICA 120
18.1. North America 120
18.1.1. Key Highlights 120
18.1.2. North America Industrial Solvents Market Revenue, By Country, 2018 – 2023 (USD Million) 121
18.1.3. North America Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 122
18.1.4. North America Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 123
18.1.5. North America Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 124
18.1.6. North America Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 125
18.2. U.S. 126
18.3. Canada 126
18.4. Mexico 126
CHAPTER NO. 19 : INDUSTRIAL SOLVENTS MARKET – EUROPE 127
19.1. Europe 127
19.1.1. Key Highlights 127
19.1.2. Europe Industrial Solvents Market Revenue, By Country, 2018 – 2023 (USD Million) 128
19.1.3. Europe Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 129
19.1.4. Europe Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 130
19.1.5. Europe Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 131
19.1.6. Europe Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 132
19.2. UK 133
19.3. France 133
19.4. Germany 133
19.5. Italy 133
19.6. Spain 133
19.7. Russia 133
19.8. Belgium 133
19.9. Netherland 133
19.10. Austria 133
19.11. Sweden 133
19.12. Poland 133
19.13. Denmark 133
19.14. Switzerland 133
19.15. Rest of Europe 133
CHAPTER NO. 20 : INDUSTRIAL SOLVENTS MARKET – ASIA PACIFIC 134
20.1. Asia Pacific 134
20.1.1. Key Highlights 134
20.1.2. Asia Pacific Industrial Solvents Market Revenue, By Country, 2018 – 2023 (USD Million) 135
20.1.3. Asia Pacific Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 136
20.1.4. Asia Pacific Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 137
20.1.5. Asia Pacific Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 138
20.1.6. Asia Pacific Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 139
20.2. China 140
20.3. Japan 140
20.4. South Korea 140
20.5. India 140
20.6. Australia 140
20.7. Thailand 140
20.8. Indonesia 140
20.9. Vietnam 140
20.10. Malaysia 140
20.11. Philippines 140
20.12. Taiwan 140
20.13. Rest of Asia Pacific 140
CHAPTER NO. 21 : INDUSTRIAL SOLVENTS MARKET – LATIN AMERICA 141
21.1. Latin America 141
21.1.1. Key Highlights 141
21.1.2. Latin America Industrial Solvents Market Revenue, By Country, 2018 – 2023 (USD Million) 142
21.1.3. Latin America Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 143
21.1.4. Latin America Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 144
21.1.5. Latin America Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 145
21.1.6. Latin America Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 146
21.2. Brazil 147
21.3. Argentina 147
21.4. Peru 147
21.5. Chile 147
21.6. Colombia 147
21.7. Rest of Latin America 147
CHAPTER NO. 22 : INDUSTRIAL SOLVENTS MARKET – MIDDLE EAST 148
22.1. Middle East 148
22.1.1. Key Highlights 148
22.1.2. Middle East Industrial Solvents Market Revenue, By Country, 2018 – 2023 (USD Million) 149
22.1.3. Middle East Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 150
22.1.4. Middle East Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 151
22.1.5. Middle East Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 152
22.1.6. Middle East Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 153
22.2. UAE 154
22.3. KSA 154
22.4. Israel 154
22.5. Turkey 154
22.6. Iran 154
22.7. Rest of Middle East 154
CHAPTER NO. 23 : INDUSTRIAL SOLVENTS MARKET – AFRICA 155
23.1. Africa 155
23.1.1. Key Highlights 155
23.1.2. Africa Industrial Solvents Market Revenue, By Country, 2018 – 2023 (USD Million) 156
23.1.3. Africa Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 157
23.1.4. Africa Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 158
23.1.5. Africa Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 159
23.1.6. Africa Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 160
23.2. Egypt 161
23.3. Nigeria 161
23.4. Algeria 161
23.5. Morocco 161
23.6. Rest of Africa 161
CHAPTER NO. 24 : COMPANY PROFILES 162
24.1. BASF SE 162
24.1.1. Company Overview 162
24.1.2. Product Portfolio 162
24.1.3. Swot Analysis 162
24.1.4. Business Strategy 163
24.1.5. Financial Overview 163
24.2. Dow Inc. 164
24.3. ExxonMobil Corporation 164
24.4. Shell Chemicals 164
24.5. LyondellBasell Industries 164
24.6. Solvay S.A. 164
24.7. Eastman Chemical Company 164
24.8. INEOS Group 164
24.9. Arkema S.A. 164
24.10. Ashland Global Holdings Inc. 164

List of Figures
FIG NO. 1. Global Industrial Solvents Market Revenue, 2018 – 2032 (USD Million) 33
FIG NO. 2. Porter’s Five Forces Analysis for Global Industrial Solvents Market 40
FIG NO. 3. Value Chain Analysis for Global Industrial Solvents Market 41
FIG NO. 4. Global Industrial Solvents Market Import Volume/Revenue, By Region, 2018 – 2023 43
FIG NO. 5. Global Industrial Solvents Market Export Volume/Revenue, By Region, 2018 – 2023 44
FIG NO. 6. Global Industrial Solvents Market Demand Volume/Revenue, By Region, 2018 – 2023 45
FIG NO. 7. Global Industrial Solvents Market Supply Volume/Revenue, By Region, 2018 – 2023 46
FIG NO. 8. Global Industrial Solvents Market Production Volume/Revenue, By Region, 2018 – 2023 47
FIG NO. 9. Global Industrial Solvents Market Price, By Region, 2018 – 2023 48
FIG NO. 10. Global Industrial Solvents Market Price, By Type, 2018 – 2023 49
FIG NO. 11. Raw Materials Price Trend Analysis, 2018 – 2023 50
FIG NO. 12. Manufacturing Cost Analysis 51
FIG NO. 13. Manufacturing Process 51
FIG NO. 14. Company Share Analysis, 2023 52
FIG NO. 15. Company Share Analysis, 2023 53
FIG NO. 16. Company Share Analysis, 2023 53
FIG NO. 17. Company Share Analysis, 2023 54
FIG NO. 18. Industrial Solvents Market – Company Volume Market Share, 2023 55
FIG NO. 19. Industrial Solvents Market – Company Revenue Market Share, 2023 56
FIG NO. 20. Industrial Solvents Market Revenue Share, By Type, 2023 & 2032 62
FIG NO. 21. Market Attractiveness Analysis, By Type 63
FIG NO. 22. Incremental Revenue Growth Opportunity by Type, 2024 – 2032 63
FIG NO. 23. Industrial Solvents Market Revenue, By Type, 2018, 2023, 2027 & 2032 64
FIG NO. 24. Global Industrial Solvents Market for Alcohols, Revenue (USD Million) 2018 – 2032 65
FIG NO. 25. Global Industrial Solvents Market for Ketones, Revenue (USD Million) 2018 – 2032 67
FIG NO. 26. Global Industrial Solvents Market for Esters, Revenue (USD Million) 2018 – 2032 69
FIG NO. 27. Global Industrial Solvents Market for Glycols, Revenue (USD Million) 2018 – 2032 71
FIG NO. 28. Global Industrial Solvents Market for Others, Revenue (USD Million) 2018 – 2032 73
FIG NO. 29. Industrial Solvents Market Revenue Share, By Application, 2023 & 2032 76
FIG NO. 30. Market Attractiveness Analysis, By Application 77
FIG NO. 31. Incremental Revenue Growth Opportunity by Application, 2024 – 2032 77
FIG NO. 32. Industrial Solvents Market Revenue, By Application, 2018, 2023, 2027 & 2032 78
FIG NO. 33. Global Industrial Solvents Market for Paints & Coatings, Revenue (USD Million) 2018 – 2032 79
FIG NO. 34. Global Industrial Solvents Market for Pharmaceuticals, Revenue (USD Million) 2018 – 2032 81
FIG NO. 35. Global Industrial Solvents Market for Printing Inks, Revenue (USD Million) 2018 – 2032 83
FIG NO. 36. Global Industrial Solvents Market for Adhesives & Sealants, Revenue (USD Million) 2018 – 2032 85
FIG NO. 37. Global Industrial Solvents Market for Others, Revenue (USD Million) 2018 – 2032 87
FIG NO. 38. Industrial Solvents Market Revenue Share, By End-Use Industry, 2023 & 2032 90
FIG NO. 39. Market Attractiveness Analysis, By End-Use Industry 91
FIG NO. 40. Incremental Revenue Growth Opportunity by End-Use Industry, 2024 – 2032 91
FIG NO. 41. Industrial Solvents Market Revenue, By End-Use Industry, 2018, 2023, 2027 & 2032 92
FIG NO. 42. Global Industrial Solvents Market for Construction, Revenue (USD Million) 2018 – 2032 93
FIG NO. 43. Global Industrial Solvents Market for Automotive, Revenue (USD Million) 2018 – 2032 95
FIG NO. 44. Global Industrial Solvents Market for Electronics, Revenue (USD Million) 2018 – 2032 97
FIG NO. 45. Global Industrial Solvents Market for Agriculture, Revenue (USD Million) 2018 – 2032 99
FIG NO. 46. Global Industrial Solvents Market for Others, Revenue (USD Million) 2018 – 2032 101
FIG NO. 47. Industrial Solvents Market Revenue Share, By Source, 2023 & 2032 104
FIG NO. 48. Market Attractiveness Analysis, By Source 105
FIG NO. 49. Incremental Revenue Growth Opportunity by Source, 2024 – 2032 105
FIG NO. 50. Industrial Solvents Market Revenue, By Source, 2018, 2023, 2027 & 2032 106
FIG NO. 51. Global Industrial Solvents Market for Petrochemical-Based Solvents, Revenue (USD Million) 2018 – 2032 107
FIG NO. 52. Global Industrial Solvents Market for Bio-Based Solvents, Revenue (USD Million) 2018 – 2032 109
FIG NO. 53. Global Industrial Solvents Market Revenue Share, By Region, 2023 & 2032 112
FIG NO. 54. Market Attractiveness Analysis, By Region 113
FIG NO. 55. Incremental Revenue Growth Opportunity by Region, 2024 – 2032 113
FIG NO. 56. Industrial Solvents Market Revenue, By Region, 2018, 2023, 2027 & 2032 114
FIG NO. 57. North America Industrial Solvents Market Revenue, 2018 – 2032 (USD Million) 120
FIG NO. 58. Europe Industrial Solvents Market Revenue, 2018 – 2032 (USD Million) 127
FIG NO. 59. Asia Pacific Industrial Solvents Market Revenue, 2018 – 2032 (USD Million) 134
FIG NO. 60. Latin America Industrial Solvents Market Revenue, 2018 – 2032 (USD Million) 141
FIG NO. 61. Middle East Industrial Solvents Market Revenue, 2018 – 2032 (USD Million) 148
FIG NO. 62. Africa Industrial Solvents Market Revenue, 2018 – 2032 (USD Million) 155

List of Tables
TABLE NO. 1. : Global Industrial Solvents Market: Snapshot 31
TABLE NO. 2. : Drivers for the Industrial Solvents Market: Impact Analysis 35
TABLE NO. 3. : Restraints for the Industrial Solvents Market: Impact Analysis 37
TABLE NO. 4. : Global Industrial Solvents Market Revenue, By Region, 2018 – 2023 47
TABLE NO. 5. : Global Industrial Solvents Market Revenue, By Type, 2018 – 2023 48
TABLE NO. 6. : Key Raw Materials & Suppliers 49
TABLE NO. 7. : Global Alcohols Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 65
TABLE NO. 8. : Global Alcohols Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 65
TABLE NO. 9. : Global Ketones Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 67
TABLE NO. 10. : Global Ketones Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 67
TABLE NO. 11. : Global Esters Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 69
TABLE NO. 12. : Global Esters Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 69
TABLE NO. 13. : Global Glycols Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 71
TABLE NO. 14. : Global Glycols Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 71
TABLE NO. 15. : Global Others Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 73
TABLE NO. 16. : Global Others Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 73
TABLE NO. 17. : Global Paints & Coatings Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 79
TABLE NO. 18. : Global Paints & Coatings Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 79
TABLE NO. 19. : Global Pharmaceuticals Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 81
TABLE NO. 20. : Global Pharmaceuticals Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 81
TABLE NO. 21. : Global Printing Inks Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 83
TABLE NO. 22. : Global Printing Inks Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 83
TABLE NO. 23. : Global Adhesives & Sealants Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 85
TABLE NO. 24. : Global Adhesives & Sealants Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 85
TABLE NO. 25. : Global Others Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 87
TABLE NO. 26. : Global Others Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 87
TABLE NO. 27. : Global Construction Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 93
TABLE NO. 28. : Global Construction Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 93
TABLE NO. 29. : Global Automotive Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 95
TABLE NO. 30. : Global Automotive Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 95
TABLE NO. 31. : Global Electronics Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 97
TABLE NO. 32. : Global Electronics Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 97
TABLE NO. 33. : Global Agriculture Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 99
TABLE NO. 34. : Global Agriculture Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 99
TABLE NO. 35. : Global Others Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 101
TABLE NO. 36. : Global Others Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 101
TABLE NO. 37. : Global Petrochemical-Based Solvents Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 107
TABLE NO. 38. : Global Petrochemical-Based Solvents Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 107
TABLE NO. 39. : Global Bio-Based Solvents Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 109
TABLE NO. 40. : Global Bio-Based Solvents Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 109
TABLE NO. 41. : Global Industrial Solvents Market Revenue, By Region, 2018 – 2023 (USD Million) 114
TABLE NO. 42. : Global Industrial Solvents Market Revenue, By Region, 2024 – 2032 (USD Million) 114
TABLE NO. 43. : Global Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 115
TABLE NO. 44. : Global Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 115
TABLE NO. 45. : Global Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 116
TABLE NO. 46. : Global Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 116
TABLE NO. 47. : Global Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 117
TABLE NO. 48. : Global Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 117
TABLE NO. 49. : Global Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 118
TABLE NO. 50. : Global Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 118
TABLE NO. 51. : North America Industrial Solvents Market Revenue, By Country, 2018 – 2023 (USD Million) 120
TABLE NO. 52. : North America Industrial Solvents Market Revenue, By Country, 2024 – 2032 (USD Million) 120
TABLE NO. 53. : North America Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 121
TABLE NO. 54. : North America Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 121
TABLE NO. 55. : North America Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 122
TABLE NO. 56. : North America Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 122
TABLE NO. 57. : North America Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 123
TABLE NO. 58. : North America Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 123
TABLE NO. 59. : North America Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 124
TABLE NO. 60. : North America Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 124
TABLE NO. 61. : Europe Industrial Solvents Market Revenue, By Country, 2018 – 2023 (USD Million) 127
TABLE NO. 62. : Europe Industrial Solvents Market Revenue, By Country, 2024 – 2032 (USD Million) 127
TABLE NO. 63. : Europe Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 128
TABLE NO. 64. : Europe Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 128
TABLE NO. 65. : Europe Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 129
TABLE NO. 66. : Europe Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 129
TABLE NO. 67. : Europe Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 130
TABLE NO. 68. : Europe Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 130
TABLE NO. 69. : Europe Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 131
TABLE NO. 70. : Europe Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 131
TABLE NO. 71. : Asia Pacific Industrial Solvents Market Revenue, By Country, 2018 – 2023 (USD Million) 134
TABLE NO. 72. : Asia Pacific Industrial Solvents Market Revenue, By Country, 2024 – 2032 (USD Million) 134
TABLE NO. 73. : Asia Pacific Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 135
TABLE NO. 74. : Asia Pacific Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 135
TABLE NO. 75. : Asia Pacific Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 136
TABLE NO. 76. : Asia Pacific Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 136
TABLE NO. 77. : Asia Pacific Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 137
TABLE NO. 78. : Asia Pacific Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 137
TABLE NO. 79. : Asia Pacific Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 138
TABLE NO. 80. : Asia Pacific Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 138
TABLE NO. 81. : Latin America Industrial Solvents Market Revenue, By Country, 2018 – 2023 (USD Million) 141
TABLE NO. 82. : Latin America Industrial Solvents Market Revenue, By Country, 2024 – 2032 (USD Million) 141
TABLE NO. 83. : Latin America Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 142
TABLE NO. 84. : Latin America Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 142
TABLE NO. 85. : Latin America Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 143
TABLE NO. 86. : Latin America Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 143
TABLE NO. 87. : Latin America Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 144
TABLE NO. 88. : Latin America Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 144
TABLE NO. 89. : Latin America Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 145
TABLE NO. 90. : Latin America Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 145
TABLE NO. 91. : Middle East Industrial Solvents Market Revenue, By Country, 2018 – 2023 (USD Million) 148
TABLE NO. 92. : Middle East Industrial Solvents Market Revenue, By Country, 2024 – 2032 (USD Million) 148
TABLE NO. 93. : Middle East Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 149
TABLE NO. 94. : Middle East Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 149
TABLE NO. 95. : Middle East Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 150
TABLE NO. 96. : Middle East Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 150
TABLE NO. 97. : Middle East Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 151
TABLE NO. 98. : Middle East Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 151
TABLE NO. 99. : Middle East Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 152
TABLE NO. 100. : Middle East Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 152
TABLE NO. 101. : Africa Industrial Solvents Market Revenue, By Country, 2018 – 2023 (USD Million) 155
TABLE NO. 102. : Africa Industrial Solvents Market Revenue, By Country, 2024 – 2032 (USD Million) 155
TABLE NO. 103. : Africa Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 156
TABLE NO. 104. : Africa Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 156
TABLE NO. 105. : Africa Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 157
TABLE NO. 106. : Africa Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 157
TABLE NO. 107. : Africa Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 158
TABLE NO. 108. : Africa Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 158
TABLE NO. 109. : Africa Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 159
TABLE NO. 110. : Africa Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 159

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Frequently Asked Questions

What is the current size of the Global Industrial Solvents?

The Global Industrial Solvents market was valued at USD 34,660.50 million in 2024 and is projected to reach USD 60,647.79 million by 2032, growing at a CAGR of 7.24%.

What factors are driving the growth of the Global Industrial Solvents?

Growth is driven by expanding industrial activities, rising demand for bio-based solvents, technological innovations, and stricter environmental regulations.

What are the key segments within the Global Industrial Solvents?

Key segments include Type (Alcohols, Ketones, Esters, Glycols, Others), Application (Paints & Coatings, Pharmaceuticals, Printing Inks, Adhesives & Sealants, Others), End-Use, Source, and Geography.

What are some challenges faced by the Global Industrial Solvents?

Challenges include stringent environmental regulations, health concerns related to solvent use, fluctuating raw material prices, and supply chain disruptions.

Who are the major players in the Global Industrial Solvents?

Major players include BASF SE, Dow Inc., ExxonMobil Corporation, Shell Chemicals, LyondellBasell Industries, Solvay S.A., and Eastman Chemical Company.

About Author

Shweta Bisht

Healthcare & Biotech Analyst

Shweta is a healthcare and biotech researcher with strong analytical skills in chemical and agri domains.

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