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Australia Industrial Solvents Market

Australia 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

Summary
Table Of Content

REPORT ATTRIBUTE	DETAILS
Historical Period	2020-2023
Base Year	2024
Forecast Period	2025-2032
Australia Industrial Solvents Market Size 2024	USD 258.11 million
Australia Industrial Solvents Market, CAGR	7.54%
Australia Industrial Solvents Market Size 2032	USD 461.55 million

Market Overview

Australia Industrial Solvents market size was valued at USD 258.11 million in 2024 and is anticipated to reach USD 461.55 million by 2032, at a CAGR of 7.54% during the forecast period (2024-2032).

The Australia industrial solvents market is driven by the increasing demand across various end-use industries, including pharmaceuticals, paints & coatings, and chemicals. The expanding manufacturing sector, coupled with growing industrialization, is fueling the need for solvents in processes such as cleaning, extraction, and formulation. Furthermore, the rise of sustainable and eco-friendly solvents, driven by environmental regulations and consumer preferences, is fostering innovation within the market. The shift towards low-VOC and biodegradable solvents is becoming a prominent trend, as industries strive to reduce their carbon footprint. Additionally, advancements in chemical technologies and the growth of the automotive and construction sectors are contributing to the market’s expansion. With continued growth in industrial activities and evolving consumer demand for greener alternatives, the industrial solvents market in Australia is poised for sustained growth throughout the forecast period.

Geographically, the Australian industrial solvents market is influenced by key industrial regions such as New South Wales, Victoria, and Queensland, where manufacturing, automotive, and pharmaceutical sectors drive demand. Major cities like Sydney, Melbourne, and Brisbane are central to market growth, given their industrial infrastructure and technological advancements. Key players in the Australian industrial solvents market include global giants such as Australia National Petroleum Corporation (CNPC), Formosa Plastics Corporation, Reliance Industries Limited, and Sinopec Group. These companies, along with others like Mitsubishi Chemical Holdings Corporation, Sumitomo Chemical Co., Ltd., and LG Chem Ltd., play a critical role in shaping market dynamics through their product offerings, technological innovations, and strategic business expansions. Their focus on sustainable solutions, low-VOC solvents, and compliance with environmental regulations is steering the market towards eco-friendly alternatives, which are increasingly being adopted by Australian industries.

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Market Insights

The Australia industrial solvents market was valued at USD 258.11 million in 2024 and is projected to reach USD 461.55 million by 2032, growing at a CAGR of 7.54%.
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).
Increased demand from sectors like pharmaceuticals, paints & coatings, and chemicals is driving market growth.
A growing preference for eco-friendly and low-VOC solvents is a key trend shaping the market.
The competitive landscape is dominated by global players such as CNPC, Formosa Plastics Corporation, and Reliance Industries, with a focus on innovation and sustainability.
Stringent environmental regulations and the shift towards green solvents are influencing industry practices.
Regional demand is driven by industrial hubs in New South Wales, Victoria, and Queensland, with New South Wales holding the largest market share.
Market restraints include volatile raw material prices and high costs associated with eco-friendly solvent alternatives.

Report Scope

This report segments the Australia Industrial Solvents market as follows:

Market Drivers

Growing Industrial Demand

The Australia industrial solvents market is experiencing strong growth due to the increasing demand from a wide range of industrial applications. Solvents play a crucial role in various manufacturing processes, including cleaning, degreasing, and formulation in industries such as chemicals, automotive, and construction. The rapid expansion of industrial activities in Australia, particularly in the chemicals and manufacturing sectors, has led to an increased need for solvents in production lines. Solvents are used to dissolve or disperse chemicals, making them essential in the production of paints, coatings, adhesives, and other products. As industrialization continues to thrive, the demand for industrial solvents will remain robust, driving market growth throughout the forecast period.

Expansion of the Pharmaceuticals and Healthcare Sectors

The pharmaceuticals and healthcare industries are significant contributors to the growth of the Australian industrial solvents market. Solvents are widely used in pharmaceutical formulations, including drug manufacturing, formulation of ointments, and as extraction agents in the production of active pharmaceutical ingredients (APIs). The growth in pharmaceutical production, driven by an aging population, increasing healthcare needs, and innovation in drug development, is boosting the demand for industrial solvents in Australia. The market for solvents in this sector is further bolstered by the ongoing trend of biologic drugs and other advanced therapeutics, which often require specialized solvents for manufacturing processes.

Advancements in Chemical Technologies

Advancements in chemical technologies are playing a pivotal role in shaping the future of the Australian industrial solvents market. With continuous innovation in solvent manufacturing processes, new and more efficient solvents are being introduced to meet the evolving needs of industries. For instance, the Australian Innovation Statistics tracks the conditions for creating and adopting new technologies, including advancements in chemical formulations. These advancements are also improving the effectiveness and safety of solvents, making them more versatile and adaptable across various applications. Additionally, the development of new formulations that are more efficient and cost-effective has spurred growth in industries like paints and coatings, automotive, and cleaning. As chemical technologies continue to evolve, the industrial solvents market in Australia is expected to benefit from enhanced product offerings and more efficient production techniques, further fueling market expansion.

Environmental Regulations and Sustainable Solutions

Environmental concerns and increasingly stringent government regulations are driving the demand for eco-friendly solvents in Australia. For instance, the Industrial Chemicals Environmental Management Standard (IChEMS) establishes nationally consistent standards for managing industrial chemicals, including solvents, to reduce environmental impact. In response to growing environmental awareness, industries are seeking solvents that are less harmful to both human health and the environment. Regulations such as restrictions on volatile organic compounds (VOCs) and the push for sustainable manufacturing practices have spurred innovation in the solvents market. Low-VOC, biodegradable, and non-toxic solvents are gaining popularity as industries aim to comply with these regulations while minimizing their ecological footprint. As such, the growing trend toward sustainability is a significant driver for the market, with demand shifting toward more environmentally responsible solvent solutions.

Market Trends

Shift Toward Green and Bio-Based Solvents

A significant trend in the Australian industrial solvents market is the growing adoption of green and bio-based solvents. These environmentally friendly alternatives are derived from renewable resources and offer reduced toxicity, lower volatile organic compound (VOC) emissions, and enhanced biodegradability. For instance, the Australia Green and Bio-solvents Market highlights that industries such as paints and coatings, pharmaceuticals, and cleaning products are increasingly adopting bio-based solvents to comply with environmental regulations. Industries are increasingly favoring these solvents to comply with stringent environmental regulations and to meet consumer demand for sustainable products. This shift is particularly evident in sectors such as paints and coatings, pharmaceuticals, and cleaning products, where the need for eco-friendly solutions is paramount.

Technological Advancements in Solvent Recovery

Technological innovations are reshaping the industrial solvents landscape in Australia, with a notable focus on solvent recovery and recycling. Advancements in distillation, filtration, and adsorption technologies enable industries to efficiently reuse solvents, thereby reducing consumption and minimizing waste. This not only leads to cost savings but also aligns with sustainability goals by decreasing the environmental impact associated with solvent disposal. Such technologies are gaining traction across various sectors, including automotive, pharmaceuticals, and manufacturing, where solvent usage is integral to operations.

Regulatory Pressures Driving Innovation

The Australian government has implemented stringent regulations to limit VOC emissions and promote environmental sustainability. For instance, the State of Australian Innovation tracks government investments in research and development, emphasizing regulatory-driven innovation in industrial solvents. These regulations are compelling industries to innovate and adopt low-VOC, biodegradable, and non-toxic solvents. Compliance with these standards is not only a legal requirement but also a response to increasing consumer preference for environmentally responsible products. As a result, manufacturers are investing in research and development to create solvent solutions that meet regulatory demands while maintaining performance efficacy.

Expansion in End-Use Industries

The demand for industrial solvents in Australia is being propelled by the expansion of key end-use industries such as pharmaceuticals, paints and coatings, automotive, and agriculture. In the pharmaceutical sector, solvents are essential for the extraction and formulation of active pharmaceutical ingredients (APIs). The paints and coatings industry relies on solvents to control viscosity and enhance application properties. Additionally, the automotive and agricultural sectors utilize solvents for cleaning, degreasing, and formulation processes. As these industries continue to grow, the need for efficient and compliant solvent solutions is increasing, thereby driving market expansion.

Market Challenges Analysis

Stringent Environmental Regulations

One of the significant challenges facing the Australian industrial solvents market is the increasing stringency of environmental regulations. Government bodies are enforcing stricter controls on solvent emissions, particularly focusing on reducing volatile organic compounds (VOCs) due to their harmful effects on air quality and human health. These regulations require industries to adopt low-VOC, biodegradable, and non-toxic solvent alternatives, which may incur higher production costs. Moreover, meeting compliance standards necessitates ongoing investments in research, development, and implementation of new technologies. This can create barriers for smaller manufacturers, who may struggle with the financial and operational burdens of adapting to these evolving regulatory landscapes. The market’s ability to navigate these regulatory challenges while maintaining cost-efficiency will be crucial for future growth.

Volatility in Raw Material Prices

Another major challenge is the volatility in raw material prices, which can significantly affect the cost of industrial solvents. Many solvents are derived from petrochemical products, and fluctuations in global oil prices or disruptions in supply chains can lead to unpredictable cost variations. For instance, the Australian Industry highlights the impact of raw material price fluctuations on manufacturing costs, emphasizing the need for strategic sourcing and supply chain resilience. These price fluctuations pose a challenge for manufacturers who must manage costs while keeping products competitive in the market. Additionally, the reliance on imported raw materials from international suppliers exposes the market to geopolitical risks and supply chain disruptions. Manufacturers may face difficulties in maintaining consistent pricing and supply, impacting profitability and market stability. Consequently, businesses must adapt their procurement strategies and consider alternative sourcing options to mitigate these risks.

Market Opportunities

The Australian industrial solvents market presents significant opportunities driven by the increasing demand for eco-friendly and sustainable solutions. As industries, particularly in the paints, coatings, and chemicals sectors, are under pressure to reduce their environmental impact, there is a growing preference for low-VOC, biodegradable, and non-toxic solvents. This trend is further supported by stringent environmental regulations, which encourage the development and adoption of greener alternatives. Companies that invest in the research and development of such solvents can capture a larger market share by offering products that meet the evolving demands of both regulatory bodies and environmentally-conscious consumers. Additionally, the rise in consumer preference for sustainable products in various sectors, including pharmaceuticals and agriculture, presents opportunities for manufacturers to differentiate their offerings and create a competitive edge in the market.

Moreover, the expansion of end-use industries such as pharmaceuticals, automotive, and agriculture provides substantial growth prospects for the industrial solvents market. The pharmaceutical sector, for instance, is expected to drive demand for solvents due to the increasing production of active pharmaceutical ingredients (APIs) and the ongoing development of new drug formulations. Similarly, as the automotive industry continues to grow, the need for solvents in cleaning, degreasing, and coating applications is set to rise. Agriculture, with its growing use of solvents in pesticide formulations and crop protection products, also offers a promising market opportunity. By tapping into these expanding sectors, manufacturers can leverage market demand and diversify their portfolios, ensuring long-term business growth. Additionally, the adoption of solvent recovery and recycling technologies can further enhance sustainability efforts while reducing operational costs, creating another avenue for growth in the market.

Market Segmentation Analysis:

By Type:

The Australia industrial solvents market is segmented by type into alcohols, ketones, esters, glycols, and others. Among these, alcohols hold the largest share due to their widespread use in applications such as paints and coatings, pharmaceuticals, and cleaning products. Alcohol-based solvents, such as ethanol and isopropyl alcohol, are favored for their ability to dissolve a wide range of substances and their relatively low toxicity. Ketones, including acetone and methyl ethyl ketone (MEK), are also widely used in the automotive, pharmaceutical, and manufacturing sectors due to their strong solvency properties and fast evaporation rates. Esters, such as ethyl acetate and butyl acetate, are primarily used in the paints and coatings industry because of their excellent ability to dissolve resins and their pleasant odor. Glycols, including ethylene glycol and propylene glycol, are important in the production of antifreeze and other industrial fluids. The “others” category includes various solvents used for specialized applications like agricultural products and fragrances, contributing to niche market demands.

By Application:

The Australia industrial solvents market is also segmented by application, with key sectors including paints & coatings, pharmaceuticals, printing inks, adhesives & sealants, and others. The paints and coatings industry is the largest consumer of industrial solvents, as solvents are essential in adjusting the viscosity and improving the application properties of paints and coatings. In the pharmaceutical sector, solvents are crucial for the formulation of active pharmaceutical ingredients (APIs) and drug manufacturing processes. Printing inks also rely on solvents to dissolve pigments and control the consistency of ink formulations. The adhesives and sealants industry uses a variety of solvents to help in the bonding and sealing of materials across construction, automotive, and electronics. Other applications, including cleaning, agricultural chemicals, and electronics manufacturing, contribute to the market’s diversity. The demand from these varied applications ensures that industrial solvents will remain integral across multiple industries, offering sustained growth opportunities.

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:

New South Wales
Victoria
Queensland
Western Australia (WA)
South Australia

Regional Analysis

New South Wales

New South Wales holds the largest market share, accounting for approximately 35% of the national industrial solvents market. This is primarily due to the state’s strong industrial base, including its major manufacturing hubs in Sydney and surrounding areas. The robust demand for industrial solvents in sectors such as chemicals, pharmaceuticals, paints and coatings, and automotive manufacturing is driving growth in this region. Additionally, New South Wales’ large industrial and commercial infrastructure continues to support the expansion of the solvents market.

Victoria

Victoria, with a market share of around 28%, is another key contributor to Australia’s industrial solvents market. The state’s strong presence in the manufacturing, automotive, and construction sectors creates a substantial demand for solvents. Melbourne, the state capital, is home to numerous solvent-dependent industries, including paints and coatings, adhesives, and printing inks. The region’s focus on sustainable manufacturing practices, along with increasing regulatory pressures, has accelerated the adoption of eco-friendly and low-VOC solvents, which further fuels the market demand.

Queensland

Queensland, holding a market share of approximately 20%, has seen steady growth in the industrial solvents market, primarily driven by its expanding agricultural, chemical, and mining sectors. The demand for solvents in Queensland is heavily influenced by agricultural applications, where solvents are used in pesticide formulations and crop protection products. Additionally, the mining and oil & gas industries, which are prevalent in Queensland, require solvents for cleaning and degreasing operations. The state’s growing industrial base is expected to contribute to the continued expansion of the solvents market.

Western Australia (WA) and South Australia

Western Australia (WA) and South Australia, while smaller in terms of market share, still represent important regions for the Australian industrial solvents market. Western Australia holds about 12% of the market share, driven by its mining and energy sectors, which require solvents for various industrial applications, including extraction and cleaning processes. South Australia, with a 5% market share, primarily depends on the demand from the automotive and manufacturing sectors. While smaller in comparison to other regions, both WA and South Australia present opportunities for growth, particularly as industries continue to expand and modernize their operations.

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Key Player Analysis

Australia National Petroleum Corporation (CNPC)
Formosa Plastics Corporation
Reliance Industries Limited
Sinopec Group
Mitsubishi Chemical Holdings Corporation
Sumitomo Chemical Co., Ltd.
Toray Industries, Inc.
LG Chem Ltd.
Tata Chemicals Ltd.
SK Innovation Co., Ltd.

Competitive Analysis

The competitive landscape of the Australia industrial solvents market is shaped by several global players who focus on product innovation, strategic collaborations, and expanding their regional presence. Leading companies in the market include Australia National Petroleum Corporation (CNPC), Formosa Plastics Corporation, Reliance Industries Limited, Sinopec Group, Mitsubishi Chemical Holdings Corporation, Sumitomo Chemical Co., Ltd., Toray Industries, Inc., LG Chem Ltd., Tata Chemicals Ltd., and SK Innovation Co., Ltd. These companies leverage their global expertise to meet the growing demand for industrial solvents across various sectors, including pharmaceuticals, paints & coatings, automotive, and chemicals. They emphasize the development of low-VOC, biodegradable, and eco-friendly solvents to comply with increasingly stringent environmental regulations. Moreover, their strong R&D capabilities enable them to innovate new products that align with sustainability trends and meet diverse industry needs. In addition to product innovation, these players focus on expanding their market reach through mergers, acquisitions, and strategic partnerships. They are also investing in technology advancements like solvent recovery and recycling processes, which are gaining traction due to environmental concerns. Competitive pressures are intensifying as these major players adapt to changing consumer preferences and regulatory frameworks, aiming to maintain a strong foothold in the dynamic industrial solvents market in Australia.

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 Australian industrial solvents market exhibits moderate concentration, with a mix of global and regional players dominating the competitive landscape. Large multinational corporations such as CNPC, Formosa Plastics, and Reliance Industries hold significant market share, leveraging their vast product portfolios and advanced manufacturing capabilities. These players drive market trends through product innovation, focusing on eco-friendly and low-VOC solvents to meet stringent environmental regulations. While the market is influenced by these key players, smaller regional manufacturers also contribute to competition, particularly in niche applications and specialized solvent formulations. The market is characterized by ongoing advancements in solvent technologies, including recovery and recycling processes, driven by the increasing demand for sustainability. With high emphasis on compliance with regulatory standards and environmental sustainability, companies in the market are continuously evolving their product offerings. As demand for greener, cost-effective alternatives grows, market dynamics continue to shift toward more sustainable practices, influencing the overall market structure.

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 Australian industrial solvents market is anticipated to experience steady growth, driven by increasing demand across key sectors such as pharmaceuticals, paints & coatings, and automotive manufacturing.
Environmental regulations are pushing industries toward adopting low-VOC, biodegradable, and non-toxic solvents, aligning with global sustainability trends.
Technological advancements in solvent recovery and recycling are enhancing operational efficiency and reducing environmental impact, supporting long-term market growth.
The shift towards bio-based solvents, derived from renewable resources, is gaining momentum as industries seek sustainable alternatives to traditional petrochemical-based solvents.
Strategic partnerships and collaborations among key players are fostering innovation and expanding product portfolios to meet evolving market demands.
Regional demand is expected to remain robust, with industrial hubs in New South Wales, Victoria, and Queensland continuing to drive market activity.
The market is witnessing increased investments in research and development to create high-performance solvents that comply with stringent environmental standards.
Consumer preference for sustainable and eco-friendly products is influencing manufacturers to prioritize the development of green solvents.
The adoption of digital technologies and automation in solvent production processes is improving efficiency and reducing costs, contributing to market expansion.
Despite challenges such as fluctuating raw material prices, the market outlook remains positive, driven by innovation, regulatory compliance, and sustainable practices.

CHAPTER NO. 1 : INTRODUCTION 19

1.1.1. Report Description 19

Purpose of the Report 19

USP & Key Offerings 19

1.1.2. Key Benefits for Stakeholders 19

1.1.3. Target Audience 20

1.1.4. Report Scope 20

CHAPTER NO. 2 : EXECUTIVE SUMMARY 21

2.1. Industrial Solvents Market Snapshot 21

2.1.1. Australia Industrial Solvents Market, 2018 – 2032 (USD Million) 22

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 23

3.1. Russia-Ukraine and Israel-Palestine War Impacts 23

CHAPTER NO. 4 : INDUSTRIAL SOLVENTS MARKET – INDUSTRY ANALYSIS 24

4.1. Introduction 24

4.2. Market Drivers 25

4.2.1. Rising demand for eco-friendly and bio-based solvents 25

4.2.2. Increasing use of solvents in the automotive and construction industries 26

4.3. Market Restraints 27

4.3.1. Stringent environmental regulations regarding the use of volatile organic compounds (VOCs) 27

4.4. Market Opportunities 28

4.4.1. Innovations in green chemistry to develop sustainable solvent alternatives 28

4.5. Porter’s Five Forces Analysis 29

4.6. Buying Criteria 30

CHAPTER NO. 5 : IMPORT EXPORT ANALYSIS 31

5.1. Import Analysis by Australia 31

5.1.1. Australia Industrial Solvents Market Import Volume/Revenue, By Australia, 2018 – 2023 31

5.2. Export Analysis by Australia 32

5.2.1. Australia Industrial Solvents Market Export Volume/Revenue, By Australia, 2018 – 2023 32

CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 33

6.1. Demand Analysis by Australia 33

6.1.1. Australia Industrial Solvents Market Demand Volume/Revenue, By Australia, 2018 – 2023 33

6.2. Supply Analysis by Australia 34

6.2.1. Australia Industrial Solvents Market Supply Volume/Revenue, By Australia, 2018 – 2023 34

CHAPTER NO. 7 : PRODUCTION ANALYSIS 35

7.1. Production Analysis by Australia 35

7.1.1. Australia Industrial Solvents Market Production Volume/Revenue, By Australia, 2018 – 2023 35

CHAPTER NO. 8 : PRICE ANALYSIS 36

8.1. Price Analysis by Type 36

8.1.1. Australia Industrial Solvents Market Price, By Type, 2018 – 2023 36

8.1.2. Australia Type Market Price, By Type, 2018 – 2023 36

CHAPTER NO. 9 : RAW MATERIALS ANALYSIS 37

9.1. Key Raw Materials and Suppliers 37

9.2. Key Raw Materials Price Trend 37

CHAPTER NO. 10 : MANUFACTURING COST ANALYSIS 38

10.1. Manufacturing Cost Analysis 38

10.2. Manufacturing Process 38

CHAPTER NO. 11 : ANALYSIS COMPETITIVE LANDSCAPE 39

11.1. Company Market Share Analysis – 2023 39

11.2. Value Chain Analysis 39

11.2.1. Australia Industrial Solvents Market: Company Market Share, by Volume, 2023 40

11.2.2. Australia Industrial Solvents Market: Company Market Share, by Revenue, 2023 41

11.2.3. Australia Industrial Solvents Market: Top 6 Company Market Share, by Revenue, 2023 41

11.2.4. Australia Industrial Solvents Market: Top 3 Company Market Share, by Revenue, 2023 42

11.3. Australia Industrial Solvents Market Company Volume Market Share, 2023 43

11.4. Australia Industrial Solvents Market Company Revenue Market Share, 2023 44

11.5. Company Assessment Metrics, 2023 44

11.5.1. Stars 44

11.5.2. Emerging Leaders 44

11.5.3. Pervasive Players 44

11.5.4. Participants 44

11.6. Start-ups /SMEs Assessment Metrics, 2023 44

11.6.1. Progressive Companies 44

11.6.2. Responsive Companies 45

11.6.3. Dynamic Companies 45

11.6.4. Starting Blocks 45

11.7. Strategic Developments 46

11.7.1. Acquisitions & Mergers 46

New Product Launch 46

Australia Expansion 46

11.8. Key Players Product Matrix 47

CHAPTER NO. 12 : PESTEL & ADJACENT MARKET ANALYSIS 48

12.1. PESTEL 48

12.1.1. Political Factors 48

12.1.2. Economic Factors 48

12.1.3. Social Factors 48

12.1.4. Technological Factors 48

12.1.5. Environmental Factors 48

12.1.6. Legal Factors 48

12.2. Adjacent Market Analysis 48

CHAPTER NO. 13 : INDUSTRIAL SOLVENTS MARKET – BY TYPE SEGMENT ANALYSIS 49

13.1. Industrial Solvents Market Overview, by Type Segment 49

13.1.1. Industrial Solvents Market Revenue Share, By Type, 2023 & 2032 50

13.1.2. Industrial Solvents Market Attractiveness Analysis, By Type 51

13.1.3. Incremental Revenue Growth Opportunity, by Type, 2024 – 2032 51

13.1.4. Industrial Solvents Market Revenue, By Type, 2018, 2023, 2027 & 2032 52

13.2. Alcohols 53

13.3. Ketones 54

13.4. Esters 55

13.5. Glycols 56

13.6. Others 57

CHAPTER NO. 14 : INDUSTRIAL SOLVENTS MARKET – BY APPLICATION SEGMENT ANALYSIS 58

14.1. Industrial Solvents Market Overview, by Application Segment 58

14.1.1. Industrial Solvents Market Revenue Share, By Application, 2023 & 2032 59

14.1.2. Industrial Solvents Market Attractiveness Analysis, By Application 60

14.1.3. Incremental Revenue Growth Opportunity, by Application, 2024 – 2032 60

14.1.4. Industrial Solvents Market Revenue, By Application, 2018, 2023, 2027 & 2032 61

14.2. Paints & Coatings 62

14.3. Pharmaceuticals 63

14.4. Printing Inks 64

14.5. Adhesives & Sealants 65

14.6. Others 66

CHAPTER NO. 15 : INDUSTRIAL SOLVENTS MARKET – BY END-USE INDUSTRY SEGMENT ANALYSIS 67

15.1. Industrial Solvents Market Overview, by End-Use Industry Segment 67

15.1.1. Industrial Solvents Market Revenue Share, By End-Use Industry, 2023 & 2032 68

15.1.2. Industrial Solvents Market Attractiveness Analysis, By End-Use Industry 69

15.1.3. Incremental Revenue Growth Opportunity, by End-Use Industry, 2024 – 2032 69

15.1.4. Industrial Solvents Market Revenue, By End-Use Industry, 2018, 2023, 2027 & 2032 70

15.2. Construction 71

15.3. Automotive 72

15.4. Electronics 73

15.5. Agriculture 74

15.6. Others 75

CHAPTER NO. 16 : INDUSTRIAL SOLVENTS MARKET – BY SOURCE SEGMENT ANALYSIS 76

16.1. Industrial Solvents Market Overview, by Source Segment 76

16.1.1. Industrial Solvents Market Revenue Share, By Source, 2023 & 2032 77

16.1.2. Industrial Solvents Market Attractiveness Analysis, By Source 78

16.1.3. Incremental Revenue Growth Opportunity, by Source, 2024 – 2032 78

16.1.4. Industrial Solvents Market Revenue, By Source, 2018, 2023, 2027 & 2032 79

16.2. Petrochemical-Based Solvents 80

16.3. Bio-Based Solvents 81

CHAPTER NO. 17 : INDUSTRIAL SOLVENTS MARKET – AUSTRALIA ANALYSIS 82

17.1. Type 82

17.1.1. Australia Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 82

17.2. Australia Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 82

17.3. Application 83

17.3.1. Australia Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 83

17.3.2. Australia Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 83

17.4. End-Use Industry 84

17.4.1. Australia Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 84

17.4.2. Australia Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 84

17.5. Source 85

17.5.1. Australia Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 85

17.5.2. Australia Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 85

CHAPTER NO. 18 : COMPANY PROFILES 86

18.1. Australia National Petroleum Corporation (CNPC) 86

18.1.1. Company Overview 86

18.1.2. Product Portfolio 86

18.1.3. Swot Analysis 86

18.1.4. Business Strategy 87

18.1.5. Financial Overview 87

18.2. Formosa Plastics Corporation 88

18.3. Reliance Industries Limited 88

18.4. Sinopec Group 88

18.5. Mitsubishi Chemical Holdings Corporation 88

18.6. Sumitomo Chemical Co., Ltd. 88

18.7. Toray Industries, Inc. 88

18.8. LG Chem Ltd. 88

18.9. Tata Chemicals Ltd. 88

18.10. SK Innovation Co., Ltd. 88

List of Figures

FIG NO. 1. Australia Industrial Solvents Market Revenue, 2018 – 2032 (USD Million) 23

FIG NO. 2. Porter’s Five Forces Analysis for Australia Industrial Solvents Market 30

FIG NO. 3. Australia Industrial Solvents Market Import Volume/Revenue, By Australia, 2018 – 2023 32

FIG NO. 4. Australia Industrial Solvents Market Export Volume/Revenue, By Australia, 2018 – 2023 33

FIG NO. 5. Australia Industrial Solvents Market Demand Volume/Revenue, By Australia, 2018 – 2023 34

FIG NO. 6. Australia Industrial Solvents Market Supply Volume/Revenue, By Australia, 2018 – 2023 35

FIG NO. 7. Australia Industrial Solvents Market Production Volume/Revenue, By Australia, 2018 – 2023 36

FIG NO. 8. Australia Industrial Solvents Market Price, By Type, 2018 – 2023 37

FIG NO. 9. Raw Materials Price Trend Analysis, 2018 – 2023 38

FIG NO. 10. Manufacturing Cost Analysis 39

FIG NO. 11. Manufacturing Process 39

FIG NO. 12. Value Chain Analysis for Australia Industrial Solvents Market 40

FIG NO. 13. Company Share Analysis, 2023 41

FIG NO. 14. Company Share Analysis, 2023 42

FIG NO. 15. Company Share Analysis, 2023 42

FIG NO. 16. Company Share Analysis, 2023 43

FIG NO. 17. Industrial Solvents Market – Company Volume Market Share, 2023 44

FIG NO. 18. Industrial Solvents Market – Company Revenue Market Share, 2023 45

FIG NO. 19. Industrial Solvents Market Revenue Share, By Type, 2023 & 2032 51

FIG NO. 20. Market Attractiveness Analysis, By Type 52

FIG NO. 21. Incremental Revenue Growth Opportunity by Type, 2024 – 2032 52

FIG NO. 22. Industrial Solvents Market Revenue, By Type, 2018, 2023, 2027 & 2032 53

FIG NO. 23. Australia Industrial Solvents Market for Alcohols, Revenue (USD Million) 2018 – 2032 54

FIG NO. 24. Australia Industrial Solvents Market for Ketones, Revenue (USD Million) 2018 – 2032 55

FIG NO. 25. Australia Industrial Solvents Market for Esters, Revenue (USD Million) 2018 – 2032 56

FIG NO. 26. Australia Industrial Solvents Market for Glycols, Revenue (USD Million) 2018 – 2032 57

FIG NO. 27. Australia Industrial Solvents Market for Others, Revenue (USD Million) 2018 – 2032 58

FIG NO. 28. Industrial Solvents Market Revenue Share, By Application, 2023 & 2032 60

FIG NO. 29. Market Attractiveness Analysis, By Application 61

FIG NO. 30. Incremental Revenue Growth Opportunity by Application, 2024 – 2032 61

FIG NO. 31. Industrial Solvents Market Revenue, By Application, 2018, 2023, 2027 & 2032 62

FIG NO. 32. Australia Industrial Solvents Market for Paints & Coatings, Revenue (USD Million) 2018 – 2032 63

FIG NO. 33. Australia Industrial Solvents Market for Pharmaceuticals, Revenue (USD Million) 2018 – 2032 64

FIG NO. 34. Australia Industrial Solvents Market for Printing Inks, Revenue (USD Million) 2018 – 2032 65

FIG NO. 35. Australia Industrial Solvents Market for Adhesives & Sealants, Revenue (USD Million) 2018 – 2032 66

FIG NO. 36. Australia Industrial Solvents Market for Others, Revenue (USD Million) 2018 – 2032 67

FIG NO. 37. Industrial Solvents Market Revenue Share, By End-Use Industry, 2023 & 2032 69

FIG NO. 38. Market Attractiveness Analysis, By End-Use Industry 70

FIG NO. 39. Incremental Revenue Growth Opportunity by End-Use Industry, 2024 – 2032 70

FIG NO. 40. Industrial Solvents Market Revenue, By End-Use Industry, 2018, 2023, 2027 & 2032 71

FIG NO. 41. Australia Industrial Solvents Market for Construction, Revenue (USD Million) 2018 – 2032 72

FIG NO. 42. Australia Industrial Solvents Market for Automotive, Revenue (USD Million) 2018 – 2032 73

FIG NO. 43. Australia Industrial Solvents Market for Electronics, Revenue (USD Million) 2018 – 2032 74

FIG NO. 44. Australia Industrial Solvents Market for Agriculture, Revenue (USD Million) 2018 – 2032 75

FIG NO. 45. Australia Industrial Solvents Market for Others, Revenue (USD Million) 2018 – 2032 76

FIG NO. 46. Industrial Solvents Market Revenue Share, By Source, 2023 & 2032 78

FIG NO. 47. Market Attractiveness Analysis, By Source 79

FIG NO. 48. Incremental Revenue Growth Opportunity by Source, 2024 – 2032 79

FIG NO. 49. Industrial Solvents Market Revenue, By Source, 2018, 2023, 2027 & 2032 80

FIG NO. 50. Australia Industrial Solvents Market for Petrochemical-Based Solvents, Revenue (USD Million) 2018 – 2032 81

FIG NO. 51. Australia Industrial Solvents Market for Bio-Based Solvents, Revenue (USD Million) 2018 – 2032 82

List of Tables

TABLE NO. 1. : Australia Industrial Solvents Market: Snapshot 22

TABLE NO. 2. : Drivers for the Industrial Solvents Market: Impact Analysis 26

TABLE NO. 3. : Restraints for the Industrial Solvents Market: Impact Analysis 28

TABLE NO. 4. : Australia Industrial Solvents Market Revenue, By Type, 2018 – 2023 37

TABLE NO. 5. : Key Raw Materials & Suppliers 38

TABLE NO. 6. : Australia Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 83

TABLE NO. 7. : Australia Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 83

TABLE NO. 8. : Australia Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 84

TABLE NO. 9. : Australia Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 84

TABLE NO. 10. : Australia Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 85

TABLE NO. 11. : Australia Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 85

TABLE NO. 12. : Australia Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 86

TABLE NO. 13. : Australia Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 86

Frequently Asked Questions

What is the current size of the Australia Industrial Solvents?

The Australia Industrial Solvents market was valued at USD 258.11 million in 2024 and is projected to reach USD 461.55 million by 2032, growing at a CAGR of 7.54%.

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

Key growth drivers include rising demand from pharmaceuticals, paints & coatings, chemicals, and a shift toward sustainable and low-VOC solvent solutions.

What are some challenges faced by the Australia Industrial Solvents?

Challenges include stringent environmental regulations, fluctuating raw material prices, and high costs associated with adopting eco-friendly solvent alternatives.

Who are the major players in the Australia Industrial Solvents?

Major players include Australia National Petroleum Corporation (CNPC), Formosa Plastics Corporation, Reliance Industries Limited, Sinopec Group, and Mitsubishi Chemical Holdings Corporation.

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