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Latin America Industrial Solvents Market

Latin America 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
Latin America Industrial Solvents Market Size 2024	USD 1,750.36 million
Latin America Industrial Solvents Market, CGR	6.14%
Latin America Industrial Solvents Market Size 2032	USD 2,820.12 million

Market Overview

Latin America Industrial Solvents market size was valued at USD 1,750.36 million in 2024 and is anticipated to reach USD 2,820.12 million by 2032, at a CAGR of 6.14% during the forecast period (2024-2032).

The Latin America industrial solvents market is driven by growing demand across various industries, including paints and coatings, pharmaceuticals, and automotive. Rapid industrialization, urbanization, and the expansion of manufacturing sectors in emerging economies like Brazil and Mexico contribute significantly to market growth. The increasing need for high-performance solvents, coupled with stricter environmental regulations promoting the use of eco-friendly and low-VOC solvents, is shaping the market landscape. Additionally, the rise in construction activities and infrastructure development is further boosting solvent demand in coatings and adhesives applications. As industries adapt to evolving sustainability standards, the trend toward greener and more efficient solvents is expected to intensify. Innovations in solvent formulations, alongside improved production techniques, are anticipated to enhance product performance and widen their application scope, ultimately driving market expansion during the forecast period.

The Latin American industrial solvents market is shaped by diverse geographical regions with varying industrial demands. Brazil, as the largest economy in the region, is a key hub for solvent consumption, driven by robust industries such as paints and coatings, automotive, and pharmaceuticals. Other significant markets include Argentina, Chile, and Colombia, each witnessing growth in solvent demand due to expanding construction, automotive, and manufacturing sectors. Peru also plays a role, with its solvent demand fueled by mining and infrastructure development. Key players in the region include Braskem S.A., Oxiteno S.A., Petrobras, and Grupo Idesa, among others. These companies are integral to the market, offering a wide range of industrial solvents for various applications. Their continuous investments in product innovation, sustainability, and production capacity are crucial in meeting the growing demand across Latin America, ensuring the market’s competitive and evolving nature.

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Market Insights

The Latin America industrial solvents market was valued at USD 1,750.36 million in 2024 and is projected to reach USD 2,820.12 million by 2032, growing at a CAGR of 6.14% during the forecast period.
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).
Increasing demand from industries like paints and coatings, automotive, and pharmaceuticals is a major driver of market growth.
Growing preference for eco-friendly and bio-based solvents is a key trend in the region, driven by stricter environmental regulations.
Technological advancements in solvent formulations are enabling the development of higher-performance and more sustainable solutions.
The market faces challenges related to regulatory compliance and fluctuating raw material prices, impacting production costs.
Brazil, Argentina, and Mexico are leading the market, with Brazil holding the largest share due to its strong industrial base.
Key players in the market include Braskem S.A., Oxiteno S.A., and Petrobras, all of which are investing in innovation and expanding production capacities.

Report Scope

This report segments the Latin America Industrial Solvents market as follows:

Market Drivers

Growing Industrialization and Urbanization

The rapid industrialization and urbanization in Latin American countries, particularly in emerging markets like Brazil, Mexico, and Argentina, are significant drivers of the industrial solvents market. For instance, a study on Latin American industrial development highlights that Brazil, Mexico, and Argentina have experienced notable economic expansion, with increased investments in manufacturing and infrastructure projects. As these nations continue to develop and expand their manufacturing capabilities, the demand for solvents in various industrial processes such as paints, coatings, adhesives, and cleaning products has increased. Industries such as automotive, construction, and packaging are particularly reliant on solvents, creating a consistent demand for high-quality products. This expansion of industrial activities and the growing number of manufacturing plants in the region will likely contribute to continued growth in solvent consumption.

Expansion of End-User Industries

Several key industries in Latin America, including paints and coatings, pharmaceuticals, and chemicals, are experiencing robust growth, further driving the need for industrial solvents. For instance, the Latin America Paints and Coatings Market report highlights the increasing demand for solvent-based coatings due to rising construction and infrastructure development projects. The paints and coatings industry, which accounts for a significant share of the market, is expanding due to an increase in construction and infrastructure development, particularly in urban areas. Similarly, the pharmaceutical sector is growing as more localized production of generic drugs takes place, increasing the need for solvents in pharmaceutical manufacturing processes. Additionally, the automotive and electronics industries are becoming more reliant on solvents, further boosting market demand. As these sectors expand and evolve, the need for specialized solvents with improved formulations will continue to rise.

Environmental Regulations and Sustainability Initiatives

Stricter environmental regulations and sustainability initiatives are a key factor shaping the industrial solvents market in Latin America. Governments across the region are imposing regulations that limit the use of high-VOC (volatile organic compound) solvents due to their environmental impact. This has prompted manufacturers to seek more eco-friendly alternatives that comply with these standards, leading to the growth of the green solvent market. Water-based solvents, bio-based solvents, and other low-VOC alternatives are gaining traction as industries adapt to environmental standards. These changes not only meet regulatory requirements but also align with global sustainability trends, which further accelerate the adoption of greener solvents in Latin America.

Technological Advancements and Innovations

Ongoing advancements in solvent formulations and manufacturing technologies are expected to drive the growth of the industrial solvents market in Latin America. Innovations in solvent production, such as the development of more efficient and cost-effective manufacturing processes, are making it possible to meet the growing demand for high-performance solvents. Additionally, the increasing emphasis on creating solvents that offer improved performance and reduced environmental impact is encouraging the research and development of new solvent products. The adoption of digitalization and automation in the manufacturing process is also making production more efficient, which helps meet the rising demand from various industries. As these technological developments continue, they are expected to support the region’s market growth by providing innovative solutions that cater to a wide range of industrial applications.

Market Trends

Shift Towards Eco-Friendly and Bio-Based Solvents

A major trend in the Latin American industrial solvents market is the growing preference for eco-friendly and bio-based solvents. As environmental awareness rises and governments tighten regulations on VOC emissions, industries are increasingly adopting low-VOC, water-based, and bio-based solvents. These solvents are not only safer for the environment but also offer improved sustainability in manufacturing processes. Companies in sectors like paints and coatings, automotive, and pharmaceuticals are integrating green solvents to comply with environmental regulations and align with global sustainability goals. This shift is expected to continue as consumers and businesses alike demand more eco-conscious alternatives.

Increasing Adoption of Water-Based Solvents

In line with the demand for greener solutions, there is a notable trend towards the adoption of water-based solvents in various industries across Latin America. Water-based solvents are gaining popularity in paints, coatings, adhesives, and cleaning products due to their lower environmental impact compared to traditional solvent systems that rely on petroleum-based products. For instance, Latin America’s industrial cleaning solvents market has reported a significant increase in demand for water-based formulations due to stricter environmental regulations. This trend is further driven by government policies aimed at reducing air pollution and minimizing health hazards caused by toxic chemical exposure. The shift to water-based formulations is helping companies meet regulatory requirements while providing safer, more sustainable solutions to consumers. The increasing availability and cost-effectiveness of these solvents are expected to enhance their adoption in the region.

Technological Advancements in Solvent Formulations

Advancements in solvent technology are transforming the market dynamics in Latin America. As industries seek to enhance the performance and efficiency of their products, they are investing in new solvent formulations that offer improved properties, such as faster drying times, higher solvency power, and better compatibility with different materials. Innovations in solvent production, such as the use of renewable raw materials and the development of highly specialized solvents, are contributing to the market’s evolution. These innovations not only meet the growing demand for specialized products but also ensure that the region’s industrial solvent market remains competitive on the global stage. Research and development efforts are expected to continue driving new product offerings, improving both performance and sustainability.

Expansion of the Automotive and Construction Industries

The growth of the automotive and construction sectors in Latin America is a key trend influencing the industrial solvents market. As urbanization accelerates and infrastructure projects expand across the region, the demand for coatings, adhesives, and sealants is increasing. For instance, Latin America’s automotive and construction industries have reported rising demand for solvent-based coatings and adhesives due to ongoing infrastructure development. These applications heavily rely on industrial solvents to ensure product quality and durability. The automotive industry, in particular, is seeing a rise in demand for high-performance solvents used in coatings, adhesives, and cleaning processes. Similarly, the construction industry’s rapid expansion is driving the need for solvents used in paints and coatings for buildings, road infrastructure, and other projects. This trend underscores the expanding role of industrial solvents in supporting regional industrial growth and infrastructure development.

Market Challenges Analysis

Regulatory Compliance and Environmental Restrictions

One of the significant challenges facing the Latin American industrial solvents market is the increasing complexity of regulatory compliance and environmental restrictions. Governments across the region are implementing stricter environmental regulations concerning the use of solvents, particularly those with high VOC content. For instance, Latin America has introduced REACH-inspired regulations in several countries, including Brazil, Chile, Colombia, Mexico, and Peru, to align with international chemical safety standards. These regulations, while necessary to protect public health and the environment, pose challenges for manufacturers in meeting compliance standards. Companies must invest in advanced technologies and modify their production processes to accommodate the growing demand for low-VOC, water-based, and bio-based solvents. The transition to more sustainable solutions may involve higher costs and additional research and development efforts. Moreover, inconsistent regulatory enforcement across different countries in the region further complicates market navigation for international and local solvent manufacturers, potentially creating barriers to entry for new players.

Price Volatility and Supply Chain Disruptions

Another critical challenge in the Latin American industrial solvents market is price volatility and supply chain disruptions. Solvents are primarily derived from petrochemical products, and fluctuations in crude oil prices directly impact solvent production costs. Regional instability, political changes, and economic fluctuations can exacerbate these price swings, making it difficult for manufacturers to predict and control costs. Additionally, the global supply chain for raw materials, which includes disruptions caused by natural disasters, geopolitical tensions, or pandemics, can lead to delays in solvent production and delivery. These supply chain issues not only drive up costs but also create uncertainty for businesses relying on consistent solvent supplies for their operations. As demand for solvents continues to grow across various industries, maintaining a stable supply chain will be crucial for ensuring market stability and competitiveness.

Market Opportunities

The Latin American industrial solvents market presents significant opportunities driven by the growing demand for sustainable and eco-friendly solutions. As environmental regulations become stricter, industries are increasingly seeking solvents that comply with low-VOC and eco-friendly standards. This trend opens up avenues for manufacturers to develop and introduce bio-based, water-based, and green solvents that meet regulatory requirements while also aligning with the global shift towards sustainability. Companies that invest in research and development to create innovative, environmentally-friendly products can capitalize on this trend, establishing a competitive edge in the market. The rising demand for such solvents in industries like paints and coatings, automotive, and pharmaceuticals offers growth prospects for businesses that prioritize eco-conscious production practices.

Additionally, the expansion of key industries such as automotive, construction, and pharmaceuticals across Latin America presents valuable market opportunities. The increasing demand for coatings, adhesives, sealants, and cleaning agents in these sectors directly impacts the need for industrial solvents. Latin American nations are witnessing significant infrastructure growth, leading to a rise in construction activities, which further drives the need for solvent-based products. Moreover, as the pharmaceutical industry continues to expand with the growing demand for generics and localized production, there is an increasing requirement for solvents in the formulation of medicines and medical products. The diversification of solvent applications across these industries creates a broad market landscape, offering opportunities for businesses to expand their reach and cater to a wide range of industrial needs, thereby supporting long-term growth and profitability in the region.

Market Segmentation Analysis:

By Type:

The Latin American industrial solvents market is segmented by type into alcohols, ketones, esters, glycols, and others. Among these, alcohols are the most widely used type due to their versatile properties and broad applications across industries such as paints and coatings, pharmaceuticals, and cleaning agents. Alcohols, particularly ethanol and isopropanol, are favored for their excellent solvent properties, lower toxicity, and ease of use in various formulations. Ketones, especially acetone, are also in high demand for their strong solvency power, making them ideal for applications in coatings, adhesives, and cleaning. Esters are gaining traction due to their favorable volatility and low toxicity, which makes them suitable for use in the automotive and cosmetic industries. Glycols, often used in antifreeze, paints, and industrial cleaners, have seen consistent demand due to their low freezing points and solvency abilities. The “others” category includes a range of specialized solvents, but alcohols and ketones dominate the segment in terms of volume and market share.

By Application:

The industrial solvents market in Latin America is also segmented by application into paints and coatings, pharmaceuticals, printing inks, adhesives and sealants, and others. The paints and coatings segment is the largest and fastest-growing application, driven by the expansion of the construction and automotive industries in the region. Solvents used in this sector are essential for the formulation of paints, varnishes, and coatings that offer durability and aesthetic properties. The pharmaceuticals sector follows closely, with solvents playing a critical role in drug manufacturing, especially in the production of liquid formulations and the extraction of active ingredients. The printing inks segment is another key driver, as the demand for high-quality printed materials increases with the region’s expanding media and packaging sectors. Adhesives and sealants also contribute significantly to solvent demand, with growing applications in construction, automotive, and packaging industries. Other applications, including cleaners and chemical formulations, round out the market’s diverse uses of industrial solvents in Latin America.

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:

Brazil
Argentina
Peru
Chile
Colombia
Rest of Latin America

Regional Analysis

Brazil

Brazil holds the largest market share in the Latin American industrial solvents sector, accounting for approximately 40% of the total market. As the largest economy in the region, Brazil’s industrial and manufacturing sectors are significant drivers of solvent demand. The country’s thriving construction, automotive, and paints and coatings industries contribute substantially to the consumption of industrial solvents. Brazil’s growing focus on infrastructure development, particularly in urban areas, is expected to sustain the demand for solvents, particularly in coatings and adhesives applications. The country’s well-established pharmaceutical and chemical industries further bolster the growth of solvent consumption, making Brazil a key player in the regional market.

Argentina

Argentina follows with a market share of around 18%, with significant demand coming from the paints and coatings, automotive, and construction sectors. Despite facing economic volatility, Argentina’s industrial base continues to rely heavily on industrial solvents, particularly alcohols and esters, in the production of coatings and adhesives. Additionally, the country’s expanding pharmaceutical industry is increasing the need for solvents in drug manufacturing. With a strong emphasis on local manufacturing and industrial production, Argentina presents growth opportunities, particularly as it seeks to modernize its infrastructure and improve its manufacturing output.

Peru

Peru, accounting for approximately 10% of the Latin American market, exhibits steady growth due to its expanding construction, mining, and automotive industries. The demand for industrial solvents in Peru is driven primarily by coatings and adhesives, as well as solvents used in the extraction of minerals and metals in the mining sector. With the country’s ongoing investment in infrastructure projects and urbanization, solvent demand in Peru is expected to increase in the coming years. Peru’s focus on increasing local manufacturing capacities will also drive the need for solvents in industrial applications, positioning it as a growing market within the region.

Chile and Colombia

Chile and Colombia each hold approximately 8% of the Latin American industrial solvents market share. Chile’s solvent demand is primarily fueled by its mining and construction sectors, with a strong focus on coatings and cleaning applications. Colombia’s solvent market is driven by its growing automotive, construction, and pharmaceutical industries. Both countries benefit from increasing urbanization, infrastructure development, and a focus on sustainability, which supports the shift towards eco-friendly and bio-based solvents. The rest of Latin America, including countries like Mexico and Central America, accounts for the remaining 14%, where growing industrial activities and the adoption of modern manufacturing practices are gradually boosting solvent consumption.

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Key Player Analysis

Braskem S.A.
Oxiteno S.A.
Petrobras
Grupo Idesa
Mexichem (Orbia)
Unigel Group
Anquimica do Brasil
Indorama Ventures (Brazil)
Suzano Chemicals
Elekeiroz S.A.

Competitive Analysis

The competitive landscape of the Latin America industrial solvents market is driven by several key players that dominate the region’s supply and innovation. These players include Braskem S.A., Oxiteno S.A., Petrobras, Grupo Idesa, Mexichem (Orbia), Unigel Group, Anquimica do Brasil, Indorama Ventures (Brazil), Suzano Chemicals, and Elekeiroz S.A. Each of these companies holds a significant position in the market, leveraging their diverse product portfolios, robust production capabilities, and strategic regional presence. Companies differentiate themselves by developing eco-friendly and bio-based solvents, responding to the growing demand for sustainable products amid tightening environmental regulations. To maintain a competitive edge, many players are heavily investing in research and development, focusing on improving product performance and efficiency. Innovation in solvent formulations, particularly those that are water-based or have lower VOC content, is a key strategy for gaining market share. Additionally, companies with established production facilities and supply chain networks are positioned advantageously to meet the growing regional demand. Geographically, competition is fierce in major markets like Brazil, Mexico, and Argentina, where manufacturing activities and industrial demand are particularly strong. The regional market is also influenced by political and economic factors, which can impact pricing and availability of raw materials. Companies must navigate these dynamics while ensuring a consistent supply of solvents that meet both industry needs and regulatory requirements.

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 Latin America industrial solvents market demonstrates a moderately concentrated structure, with a mix of large regional producers and several mid-sized players contributing to overall supply. A few key manufacturers maintain a dominant presence due to their extensive production capacities, integrated supply chains, and strong distribution networks across major markets like Brazil, Argentina, and Mexico. These firms often engage in long-term contracts and partnerships with downstream industries, enhancing market stability and customer retention. The market is characterized by a growing shift toward environmentally sustainable solutions, encouraging innovation in low-VOC and bio-based solvent formulations. Price sensitivity, regulatory compliance, and raw material availability also shape market dynamics. Despite the dominance of a few players, the market remains competitive, with opportunities for new entrants and smaller firms that offer specialized or green solvent solutions. This blend of consolidation and innovation defines the unique characteristics of the Latin American industrial solvents industry.

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 industrial solvents market in Latin America is expected to grow steadily due to increasing demand across construction, automotive, and pharmaceutical sectors.
Manufacturers will continue shifting toward eco-friendly and bio-based solvents in response to environmental regulations.
Technological innovation will drive the development of high-performance, low-VOC solvent solutions.
Expanding infrastructure projects in countries like Brazil, Argentina, and Peru will support increased solvent consumption.
The rise of local pharmaceutical manufacturing will contribute to higher demand for specialized solvents.
Regional players are likely to invest in capacity expansion to meet growing industrial needs.
Import dependency may decline as domestic production capabilities improve across Latin America.
Regulatory harmonization across countries could streamline compliance and encourage market expansion.
Digitalization and automation in manufacturing will influence solvent application and efficiency.
Strategic partnerships and mergers are expected to strengthen supply chains and regional market positions.

CHAPTER NO. 1 : INTRODUCTION 20

1.1.1. Report Description 20

Purpose of the Report 20

USP & Key Offerings 20

1.1.2. Key Benefits for Stakeholders 20

1.1.3. Target Audience 21

1.1.4. Report Scope 21

CHAPTER NO. 2 : EXECUTIVE SUMMARY 22

2.1. Industrial Solvents Market Snapshot 22

2.1.1. Latin America Industrial Solvents Market, 2018 – 2032 (USD Million) 23

CHAPTER NO. 3 : GEOPOLITICAL CRISIS IMPACT ANALYSIS 24

3.1. Russia-Ukraine and Israel-Palestine War Impacts 24

CHAPTER NO. 4 : INDUSTRIAL SOLVENTS MARKET – INDUSTRY ANALYSIS 25

4.1. Introduction 25

4.2. Market Drivers 26

4.2.1. Rising demand for eco-friendly and bio-based solvents 26

4.2.2. Increasing use of solvents in the automotive and construction industries 27

4.3. Market Restraints 28

4.3.1. Stringent environmental regulations regarding the use of volatile organic compounds (VOCs) 28

4.4. Market Opportunities 29

4.4.1. Innovations in green chemistry to develop sustainable solvent alternatives 29

4.5. Porter’s Five Forces Analysis 30

4.6. Buying Criteria 31

CHAPTER NO. 5 : IMPORT EXPORT ANALYSIS 32

5.1. Import Analysis by Latin America 32

5.1.1. Latin America Industrial Solvents Market Import Volume/Revenue, By Latin America, 2018 – 2023 32

5.2. Export Analysis by Latin America 33

5.2.1. Latin America Industrial Solvents Market Export Volume/Revenue, By Latin America, 2018 – 2023 33

CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 34

6.1. Demand Analysis by Latin America 34

6.1.1. Latin America Industrial Solvents Market Demand Volume/Revenue, By Latin America, 2018 – 2023 34

6.2. Supply Analysis by Latin America 35

6.2.1. Latin America Industrial Solvents Market Supply Volume/Revenue, By Latin America, 2018 – 2023 35

CHAPTER NO. 7 : PRODUCTION ANALYSIS 36

7.1. Production Analysis by Latin America 36

7.1.1. Latin America Industrial Solvents Market Production Volume/Revenue, By Latin America, 2018 – 2023 36

CHAPTER NO. 8 : PRICE ANALYSIS 37

8.1. Price Analysis by Type 37

8.1.1. Latin America Industrial Solvents Market Price, By Type, 2018 – 2023 37

8.1.2. Latin America Type Market Price, By Type, 2018 – 2023 37

CHAPTER NO. 9 : RAW MATERIALS ANALYSIS 38

9.1. Key Raw Materials and Suppliers 38

9.2. Key Raw Materials Price Trend 38

CHAPTER NO. 10 : MANUFACTURING COST ANALYSIS 39

10.1. Manufacturing Cost Analysis 39

10.2. Manufacturing Process 39

CHAPTER NO. 11 : ANALYSIS COMPETITIVE LANDSCAPE 40

11.1. Company Market Share Analysis – 2023 40

11.2. Value Chain Analysis 40

11.2.1. Latin America Industrial Solvents Market: Company Market Share, by Volume, 2023 41

11.2.2. Latin America Industrial Solvents Market: Company Market Share, by Revenue, 2023 42

11.2.3. Latin America Industrial Solvents Market: Top 6 Company Market Share, by Revenue, 2023 42

11.2.4. Latin America Industrial Solvents Market: Top 3 Company Market Share, by Revenue, 2023 43

11.3. Latin America Industrial Solvents Market Company Volume Market Share, 2023 44

11.4. Latin America Industrial Solvents Market Company Revenue Market Share, 2023 45

11.5. Company Assessment Metrics, 2023 45

11.5.1. Stars 45

11.5.2. Emerging Leaders 45

11.5.3. Pervasive Players 45

11.5.4. Participants 45

11.6. Start-ups /SMEs Assessment Metrics, 2023 45

11.6.1. Progressive Companies 45

11.6.2. Responsive Companies 46

11.6.3. Dynamic Companies 46

11.6.4. Starting Blocks 46

11.7. Strategic Developments 47

11.7.1. Acquisitions & Mergers 47

New Product Launch 47

Latin America Expansion 47

11.8. Key Players Product Matrix 48

CHAPTER NO. 12 : PESTEL & ADJACENT MARKET ANALYSIS 49

12.1. PESTEL 49

12.1.1. Political Factors 49

12.1.2. Economic Factors 49

12.1.3. Social Factors 49

12.1.4. Technological Factors 49

12.1.5. Environmental Factors 49

12.1.6. Legal Factors 49

12.2. Adjacent Market Analysis 49

CHAPTER NO. 13 : INDUSTRIAL SOLVENTS MARKET – BY TYPE SEGMENT ANALYSIS 50

13.1. Industrial Solvents Market Overview, by Type Segment 50

13.1.1. Industrial Solvents Market Revenue Share, By Type, 2023 & 2032 51

13.1.2. Industrial Solvents Market Attractiveness Analysis, By Type 52

13.1.3. Incremental Revenue Growth Opportunity, by Type, 2024 – 2032 52

13.1.4. Industrial Solvents Market Revenue, By Type, 2018, 2023, 2027 & 2032 53

13.2. Alcohols 54

13.3. Ketones 55

13.4. Esters 56

13.5. Glycols 57

13.6. Others 58

CHAPTER NO. 14 : INDUSTRIAL SOLVENTS MARKET – BY APPLICATION SEGMENT ANALYSIS 59

14.1. Industrial Solvents Market Overview, by Application Segment 59

14.1.1. Industrial Solvents Market Revenue Share, By Application, 2023 & 2032 60

14.1.2. Industrial Solvents Market Attractiveness Analysis, By Application 61

14.1.3. Incremental Revenue Growth Opportunity, by Application, 2024 – 2032 61

14.1.4. Industrial Solvents Market Revenue, By Application, 2018, 2023, 2027 & 2032 62

14.2. Paints & Coatings 63

14.3. Pharmaceuticals 64

14.4. Printing Inks 65

14.5. Adhesives & Sealants 66

14.6. Others 67

CHAPTER NO. 15 : INDUSTRIAL SOLVENTS MARKET – BY END-USE INDUSTRY SEGMENT ANALYSIS 68

15.1. Industrial Solvents Market Overview, by End-Use Industry Segment 68

15.1.1. Industrial Solvents Market Revenue Share, By End-Use Industry, 2023 & 2032 69

15.1.2. Industrial Solvents Market Attractiveness Analysis, By End-Use Industry 70

15.1.3. Incremental Revenue Growth Opportunity, by End-Use Industry, 2024 – 2032 70

15.1.4. Industrial Solvents Market Revenue, By End-Use Industry, 2018, 2023, 2027 & 2032 71

15.2. Construction 72

15.3. Automotive 73

15.4. Electronics 74

15.5. Agriculture 75

15.6. Others 76

CHAPTER NO. 16 : INDUSTRIAL SOLVENTS MARKET – BY SOURCE SEGMENT ANALYSIS 77

16.1. Industrial Solvents Market Overview, by Source Segment 77

16.1.1. Industrial Solvents Market Revenue Share, By Source, 2023 & 2032 78

16.1.2. Industrial Solvents Market Attractiveness Analysis, By Source 79

16.1.3. Incremental Revenue Growth Opportunity, by Source, 2024 – 2032 79

16.1.4. Industrial Solvents Market Revenue, By Source, 2018, 2023, 2027 & 2032 80

16.2. Petrochemical-Based Solvents 81

16.3. Bio-Based Solvents 82

CHAPTER NO. 17 : INDUSTRIAL SOLVENTS MARKET – LATIN AMERICA ANALYSIS 83

17.1. Type 83

17.1.1. Latin America Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 83

17.2. Latin America Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 83

17.3. Application 84

17.3.1. Latin America Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 84

17.3.2. Latin America Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 84

17.4. End-Use Industry 85

17.4.1. Latin America Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 85

17.4.2. Latin America Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 85

17.5. Source 86

17.5.1. Latin America Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 86

17.5.2. Latin America Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 86

17.6. Brazil 86

17.7. Argentina 86

17.8. Peru 86

17.9. Chile 86

17.10. Colombia 86

17.11. Rest of Latin America 86

CHAPTER NO. 18 : COMPANY PROFILES 87

18.1. Braskem S.A. 87

18.1.1. Company Overview 87

18.1.2. Product Portfolio 87

18.1.3. Swot Analysis 87

18.1.4. Business Strategy 88

18.1.5. Financial Overview 88

18.2. Oxiteno S.A. 89

18.3. Petrobras 89

18.4. Grupo Idesa 89

18.5. Mexichem (Orbia) 89

18.6. Unigel Group 89

18.7. Anquimica do Brasil 89

18.8. Indorama Ventures (Brazil) 89

18.9. Suzano Chemicals 89

18.10. Elekeiroz S.A. 89

List of Figures

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

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

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

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

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

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

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

FIG NO. 8. Latin America 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 Latin America 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. Latin America Industrial Solvents Market for Alcohols, Revenue (USD Million) 2018 – 2032 54

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

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

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

FIG NO. 27. Latin America 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. Latin America Industrial Solvents Market for Paints & Coatings, Revenue (USD Million) 2018 – 2032 63

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

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

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

FIG NO. 36. Latin America 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. Latin America Industrial Solvents Market for Construction, Revenue (USD Million) 2018 – 2032 72

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

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

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

FIG NO. 45. Latin America 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. Latin America Industrial Solvents Market for Petrochemical-Based Solvents, Revenue (USD Million) 2018 – 2032 81

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

List of Tables

TABLE NO. 1. : Latin America 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. : Latin America Industrial Solvents Market Revenue, By Type, 2018 – 2023 37

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

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

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

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

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

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

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

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

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

Frequently Asked Questions

What is the current size of the Latin America Industrial Solvents?

The Latin America Industrial Solvents market was valued at USD 1,750.36 million in 2024.

What factors are driving the growth of the Latin America Industrial Solvents?

Growth is driven by industrialization, rising demand from paints, coatings, automotive, and pharmaceuticals, and the shift to eco-friendly solvents.

What are the key segments within the Latin America Industrial Solvents?

The market is segmented by type, application, end-use industries, source, and geography.

Who are the major players in the Latin America Industrial Solvents?

Major players include Braskem S.A., Oxiteno S.A., Petrobras, Grupo Idesa, and Mexichem (Orbia).

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