Overview:
A solvent is a substance with an ability to dissolve, suspend or extract other materials. Typically, solvents are in liquid form but can also be available in the form of gases and solids. Industrial solvents are considered as one of the most valuable and useful products for various end user industries and manufacturing companies. Industrial solvents are mainly used in cleaning, degreasing, and thinning oil-based paints. But, prolong exposure to some of the industrial solvents can lead to adverse health effects. Huge quantities of industrial solvents are also used in oil refining and recovery, polymer and fuel additives.
The market is witnessing growth on the back of escalating demand from paint industry. Moreover, rapid industrialization is another factor contributing towards the market growth. However, rising environmental concerns and stringent regulations led by the government for the use of solvents are the major factors impede the market growth. Furthermore, ongoing research and development will offer huge market potential.
The global market for industrial solvents is mature in the developed economies such as North America and Western Europe. Therefore, the market in these regions is projected to grow at a descent growth rate. On the other hand, rapid industrialization and growing demand from pharmaceuticals sector in Eastern Europe, Latin America and Asia Pacific regions is projected to drive the market growth for industrial solvents.
Global Industrial Solvents Market is segmented on the following bases:
Key Players Identified in the Industrial Solvents Market include but are not limited to:
Arkema S.A., BASF SE, BP, Exxon Mobil Corporation, Royal Dutch Shell PLC, the Dow Chemical Company, Lyondellbasell Industries N.V. and Rhodia
This report offers:
