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Mexico Industrial Solvents Market

Mexico 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
Mexico Industrial Solvents Market Size 2024	USD 874.07 million
Mexico Industrial Solvents Market, CAGR	5.81%
Mexico Industrial Solvents Market Size 2032	USD 1,373.49 million

Market Overview

Mexico Industrial Solvents market size was valued at USD 874.07 million in 2024 and is anticipated to reach USD 1,373.49 million by 2032, at a CAGR of 5.81% during the forecast period (2024-2032).

The Mexico industrial solvents market is driven by the rapid growth of key end-use industries such as automotive, construction, pharmaceuticals, and chemicals, which require solvents for manufacturing, cleaning, and formulation processes. Increasing urbanization and infrastructure development are fueling demand for paints, coatings, and adhesives, all of which heavily rely on solvents. Moreover, the expanding pharmaceutical sector, coupled with favorable government initiatives to attract foreign investment in manufacturing, is boosting solvent consumption. Sustainability trends are also shaping the market, with rising interest in bio-based and low-VOC (volatile organic compound) solvents driven by stricter environmental regulations and growing awareness of occupational health and safety. Technological advancements in solvent recovery and recycling processes are further supporting market growth by enhancing efficiency and reducing environmental impact. Overall, a combination of industrial expansion, regulatory developments, and evolving consumer preferences is influencing the market’s upward trajectory and shaping product innovation.

The geographical landscape of the Mexico industrial solvents market is shaped by major industrial hubs such as Mexico City, Monterrey, Guadalajara, and Tijuana, each contributing significantly to solvent demand through diverse manufacturing and processing activities. These regions benefit from strong infrastructure, access to skilled labor, and proximity to international trade routes, supporting robust industrial growth and solvent consumption across sectors like automotive, construction, electronics, and pharmaceuticals. Key players driving competition and innovation in the market include global giants such as Dow Inc., ExxonMobil Corporation, Eastman Chemical Company, and Huntsman Corporation, along with regionally established firms like Ashland Mexico Holdings Inc. and Celanese Corporation. These companies are investing in sustainable product lines, expanding production capabilities, and forming strategic partnerships to strengthen their presence in the Mexican market. Their focus on eco-friendly formulations and technological advancements positions them to meet the evolving demands of both local industries and export-oriented operations.

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Market Insights

The Mexico industrial solvents market was valued at USD 874.07 million in 2024 and is expected to reach USD 1,373.49 million by 2032, growing at a CAGR of 5.81% from 2024 to 2032.
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).
Rising demand for eco-friendly solvents and bio-based solutions is driving growth in various industries, including automotive, pharmaceuticals, and construction.
The automotive and construction sectors are key drivers, fueling the use of solvents for coatings, adhesives, and cleaning applications.
Regulatory pressures around VOC emissions are pushing the industry toward more sustainable and green chemistry alternatives.
Trends toward increasing automation and digitalization in manufacturing processes are boosting solvent demand in precision cleaning and coatings.
Competitive landscape is dominated by global companies such as Dow Inc., ExxonMobil, and Eastman Chemical, with a focus on innovation and sustainability.
Geographically, regions like Mexico City and Monterrey hold significant shares, benefiting from industrial growth and favorable trade conditions.

Report Scope

This report segments the Mexico Industrial Solvents market as follows:

Market Drivers

Expansion of Key End-Use Industries

One of the primary drivers of the Mexico industrial solvents market is the consistent growth of key end-use sectors such as automotive, construction, pharmaceuticals, and manufacturing. For instance, Mexico’s automotive sector has seen increased reliance on solvent-based coatings and cleaning solutions due to rising production volumes and export activities. These industries rely heavily on solvents for a variety of applications, including degreasing, cleaning, and chemical processing. In particular, the automotive industry uses solvents extensively in surface coatings and parts cleaning, while the construction sector drives demand for paints, adhesives, and sealants that depend on solvent-based formulations. As these industries continue to grow due to domestic consumption and export opportunities, the demand for industrial solvents is expected to rise proportionally.

Rising Urbanization and Infrastructure Development

Mexico’s ongoing urbanization and infrastructure development initiatives are also fueling the demand for industrial solvents. Government-backed infrastructure projects—ranging from residential construction to commercial buildings and transportation networks—have significantly increased the use of coatings, sealants, and other chemical products that incorporate solvents. Additionally, growth in the real estate and housing sector has created a robust downstream market for construction-related chemicals. As urban centers expand and infrastructure spending increases, the associated rise in solvent consumption further strengthens the market outlook.

Supportive Government Policies and FDI Inflows

The Mexican government’s focus on industrialization, economic diversification, and foreign direct investment (FDI) has been instrumental in driving solvent demand. Through free trade agreements and economic development zones, Mexico has positioned itself as a manufacturing hub in North America. For instance, Mexico’s pharmaceutical sector has seen increased FDI inflows, with government-backed initiatives supporting local production and export growth. This favorable business environment has encouraged global chemical manufacturers to establish operations in the country, increasing domestic production and consumption of industrial solvents. Government incentives for pharmaceutical and electronics manufacturing—both solvent-intensive industries—are also contributing to market growth. These policy initiatives not only boost local consumption but also enhance export competitiveness for solvent-based products.

Shift Toward Green and Sustainable Solvents

Environmental sustainability is becoming a major influence in the industrial solvents market. Stricter environmental regulations surrounding VOC (volatile organic compound) emissions, worker safety, and hazardous waste disposal are encouraging manufacturers to adopt eco-friendly alternatives. The growing preference for bio-based and low-VOC solvents is leading to increased R&D and innovation in solvent formulations. Companies are investing in green chemistry solutions that meet both performance and regulatory standards, aligning with global sustainability goals. This shift not only addresses environmental concerns but also opens new opportunities for product differentiation and long-term growth in the solvent market.

Market Trends

Shift Toward Sustainable and Bio-Based Solvents

The Mexico industrial solvents market is witnessing a significant trend toward sustainability, driven by increasing environmental awareness and stricter government regulations. Regulatory bodies are enforcing tighter controls on the emission of volatile organic compounds (VOCs), which are commonly found in conventional solvents. As a result, there is a growing shift toward the use of low-VOC, water-based, and bio-based solvents derived from renewable resources such as corn, sugarcane, and soy. These green alternatives are gaining traction across end-use industries including paints, coatings, and pharmaceuticals due to their lower toxicity and reduced environmental footprint. In addition, multinational companies operating in Mexico are aligning with global sustainability goals, thereby increasing investment in research and development (R&D) to produce eco-friendly solvent solutions. This trend is expected to accelerate as consumers and industrial users prioritize environmentally responsible products and processes.

Increasing Demand from Paints, Coatings, and Adhesives

One of the most prominent trends in the Mexico industrial solvents market is the growing demand from the paints, coatings, and adhesives segment. As Mexico continues to experience expansion in its construction, automotive, and real estate sectors, the need for high-performance coatings has surged. For instance, Mexico’s paints and coatings market has reported a surge in demand due to urban expansion and large-scale infrastructure projects. Solvents play a vital role in improving the application properties and finish quality of these products. With the rise of infrastructure development projects, both public and private, solvent-based products are seeing heightened use. Simultaneously, end-users are showing a preference for specialty solvents that offer faster drying times, greater durability, and compliance with safety and environmental standards. As innovation continues in coating technologies, the use of advanced solvent systems tailored for specific applications is becoming more prevalent.

Technological Advancements and Process Optimization

Technology and innovation are shaping the evolution of industrial solvent applications in Mexico. New advancements in chemical engineering and process automation are enabling manufacturers to develop solvents with enhanced performance characteristics such as improved solvency, thermal stability, and compatibility with multiple substrates. For instance, Mexico’s solvent market has seen increased investment in research and development, focusing on specialized solvent formulations for high-performance applications. Digital tools and data analytics are also being utilized to optimize production processes, improve batch consistency, and reduce waste. Moreover, the growing adoption of closed-loop solvent recovery systems is helping industries improve operational efficiency and minimize environmental impact. These technologies are particularly valuable in sectors like pharmaceuticals, where stringent purity requirements demand precision and traceability in solvent use. The integration of such advancements is setting a new benchmark for quality, safety, and sustainability in solvent manufacturing.

Strategic Alliances and Market Diversification

The Mexican industrial solvents market is becoming increasingly dynamic, with companies forming strategic partnerships, mergers, and acquisitions to strengthen their market positions. Local and global players are collaborating to diversify their product portfolios, access new technologies, and enter untapped market segments. These alliances are especially common in response to the rising demand for specialized solvents in sectors such as electronics, healthcare, and agrochemicals. In parallel, firms are investing in regional distribution networks and localized production facilities to enhance supply chain efficiency and meet the growing needs of domestic and export markets. This diversification not only improves competitiveness but also positions the industry to respond agilely to changing market conditions and customer preferences.

Market Challenges Analysis

Regulatory Pressure and Environmental Compliance

One of the primary challenges facing the Mexico industrial solvents market is the increasing stringency of environmental regulations, particularly around the use and disposal of volatile organic compounds (VOCs). Regulatory bodies such as the Secretaría de Medio Ambiente y Recursos Naturales (SEMARNAT) and other environmental authorities are enforcing stricter emission controls to address air pollution and occupational health risks. For instance, Mexico’s General Law of Ecological Balance and Environmental Protection outlines stringent guidelines for VOC emissions, requiring industries to adopt cleaner technologies and sustainable practices. These regulations compel manufacturers to invest in reformulating products or transitioning to low-VOC and eco-friendly solvent alternatives, which can involve high R&D and production costs. Additionally, compliance with international standards such as REACH and EPA norms becomes a barrier for Mexican producers aiming to expand globally. For small and mid-sized enterprises, the financial and technical burden of aligning with evolving regulatory frameworks poses a significant challenge, potentially restricting innovation and delaying time-to-market for new products.

Raw Material Volatility and Supply Chain Constraints

Another key challenge impacting the industrial solvents market in Mexico is the volatility in raw material prices and disruptions in global supply chains. Solvent production is heavily dependent on petrochemical feedstocks such as methanol, ethanol, acetone, and toluene, whose prices are subject to fluctuations in crude oil markets and geopolitical instability. This price volatility impacts manufacturing margins and creates uncertainty in procurement planning. In addition, the COVID-19 pandemic and subsequent global logistics issues revealed vulnerabilities in the supply chain, particularly for imported chemicals and intermediates. Mexico’s reliance on international suppliers for several raw materials exposes local manufacturers to delivery delays and increased costs. While some efforts have been made to localize production and build strategic reserves, these initiatives remain limited and require long-term investment. Until supply chains become more resilient and raw material sourcing is stabilized, the market will continue to face pressure from input cost unpredictability and supply availability.

Market Opportunities

The Mexico industrial solvents market presents substantial growth opportunities, primarily driven by the country’s expanding manufacturing base and increasing integration into global supply chains. As Mexico continues to position itself as a key player in the North American manufacturing corridor, demand for industrial solvents across sectors such as automotive, electronics, and pharmaceuticals is projected to rise steadily. The implementation of the United States-Mexico-Canada Agreement (USMCA) has further enhanced trade relations and attracted significant foreign direct investment, particularly in high-tech and value-added industries that require a wide range of solvent applications. This shift offers manufacturers the chance to diversify their solvent portfolios to cater to specialized needs, including high-purity and performance-grade solvents. Furthermore, ongoing infrastructure development and urbanization are expected to support increased consumption of solvent-based products used in coatings, adhesives, and construction chemicals.

In addition, the growing trend toward sustainable and environmentally friendly chemical solutions opens new market avenues for bio-based and low-VOC solvent innovations. As regulatory frameworks continue to evolve and environmental consciousness rises, there is a clear opportunity for companies to invest in green chemistry and differentiate themselves through responsible manufacturing practices. The demand for non-toxic, biodegradable solvents is increasing across industries such as food processing, cosmetics, and pharmaceuticals, where consumer safety and compliance are paramount. Moreover, advancements in solvent recovery and recycling technologies are creating possibilities for cost reduction and waste minimization, offering a dual advantage of operational efficiency and environmental compliance. Companies that prioritize sustainable product development and invest in research and development tailored to regional needs are well-positioned to capture emerging demand and strengthen their foothold in the growing Mexican 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:

Mexico City
Monterrey
Guadalajara
Tijuana

Regional Analysis

Mexico City

Mexico City accounts for the largest share of the industrial solvents market in the country, contributing approximately 34% of the total market value. As the nation’s capital and a major industrial and commercial hub, Mexico City hosts a diverse range of manufacturing activities, including pharmaceuticals, chemicals, automotive parts, and construction materials. The region benefits from strong infrastructure, well-established distribution networks, and proximity to major research institutions and government bodies. These advantages foster high demand for industrial solvents in formulations, coatings, and production processes. Furthermore, Mexico City’s ongoing urban development and public infrastructure investments continue to drive solvent usage in the construction and paints sectors. Its robust regulatory oversight also encourages companies to invest in low-VOC and eco-friendly solvent solutions, creating a strong market for sustainable alternatives.

Monterrey

Monterrey holds a significant 26% market share and stands out as a leading industrial center in northern Mexico. Known for its strong presence in steel, glass, automotive, and chemical manufacturing, Monterrey generates substantial demand for solvents used in surface treatment, degreasing, and industrial cleaning. The city’s proximity to the United States and its role as a logistics hub make it attractive to both domestic and multinational manufacturers seeking efficient supply chain access. Monterrey’s solvent market is also supported by high levels of industrial automation and adoption of advanced technologies in manufacturing processes, leading to increased consumption of specialty solvents that meet specific performance and safety requirements.

Guadalajara

Guadalajara contributes around 22% of the market share and is a fast-growing center for electronics, pharmaceuticals, and packaging industries—all of which require high-quality solvent solutions. Often referred to as the “Silicon Valley of Mexico,” Guadalajara has seen a surge in foreign investment in electronics assembly and medical device manufacturing. These sectors demand solvents for precision cleaning, coating, and component processing. The local government’s support for innovation and sustainable practices further drives the demand for green solvents in this region. Additionally, Guadalajara’s expanding urban infrastructure and growing real estate sector are increasing the use of solvent-based construction products, adding to the region’s market momentum.

Tijuana

Tijuana represents an emerging market in the solvent sector, with a current market share of approximately 18%. Located on the U.S. border, Tijuana benefits from cross-border trade and a strong maquiladora (export-oriented manufacturing) industry. The city is a key hub for electronics, automotive parts, and medical equipment manufacturing—all of which are solvent-intensive sectors. As Tijuana continues to attract foreign investment and expand its industrial base, the demand for cleaning agents, adhesives, and specialty solvents is expected to grow. Although currently the smallest among the four key regions, Tijuana’s strategic location and growing industrial infrastructure position it as a promising area for future solvent market expansion.

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Key Player Analysis

Dow Inc.
ExxonMobil Corporation
Eastman Chemical Company
Ashland Mexico Holdings Inc.
Huntsman Corporation
LyondellBasell Industries
Celanese Corporation
PPG Industries, Inc.
Chevron Phillips Chemical Company
DuPont de Nemours, Inc.

Competitive Analysis

The Mexico industrial solvents market is highly competitive, with leading players focusing on innovation, sustainability, and strategic partnerships to maintain their market positions. Dow Inc., ExxonMobil Corporation, Eastman Chemical Company, Ashland Mexico Holdings Inc., Huntsman Corporation, LyondellBasell Industries, Celanese Corporation, PPG Industries, Inc., Chevron Phillips Chemical Company, and DuPont de Nemours, Inc. are the dominant companies shaping the industry landscape. Companies are increasingly investing in the development of eco-friendly and bio-based solvents, responding to the growing demand for sustainable solutions across various industries, including automotive, construction, and pharmaceuticals. There is a notable shift towards the adoption of low-VOC and green chemistry products to comply with stricter environmental regulations. In addition, key players are enhancing their production capabilities by incorporating advanced manufacturing technologies and expanding their solvent portfolios to meet the evolving demands of the market. As automation and digitalization continue to shape industrial processes, companies are leveraging these trends to boost solvent consumption, especially in sectors requiring high-precision applications like coatings and cleaning. Furthermore, companies are pursuing strategic mergers and acquisitions, along with expanding their distribution networks to strengthen their reach within the region. Regional expansion is crucial, particularly in Mexico’s key industrial hubs such as Mexico City and Monterrey, where demand for industrial solvents is driven by robust manufacturing and construction activities. These strategies enable players to remain competitive and capture emerging growth opportunities in the Mexican market.

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 Mexico industrial solvents market exhibits a moderate level of market concentration, with a mix of global and regional players dominating the landscape. A few large multinational corporations hold significant market shares, benefiting from their advanced technological capabilities, established brand presence, and extensive distribution networks. These companies typically lead in the development of high-performance, eco-friendly, and bio-based solvents, which are increasingly in demand due to rising environmental concerns and regulatory pressures. Despite the dominance of key players, the market also offers opportunities for regional manufacturers and smaller players to capitalize on niche markets, particularly in sectors like pharmaceuticals and electronics. The market is characterized by a high level of innovation, with firms focusing on developing sustainable and compliant solutions to meet stringent environmental standards. Additionally, strong competition is driving companies to invest in R&D, product diversification, and improved production efficiencies to meet evolving customer needs and regional demands.

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 Mexico industrial solvents market is projected to experience steady growth, driven by increasing demand across various end-use industries.
Environmental regulations are prompting a shift towards eco-friendly and bio-based solvents, aligning with global sustainability trends.
Technological advancements in solvent formulations are enhancing performance while reducing environmental impact.
The pharmaceutical and personal care sectors are increasingly adopting bio-based solvents due to their non-toxic and biodegradable properties.
The growing focus on green chemistry is encouraging manufacturers to develop solvents that minimize waste and hazardous emissions.
Strategic collaborations and partnerships are being pursued to expand product portfolios and enhance technological capabilities.
Digitalization and automation in solvent production processes are improving efficiency and product quality.
The expansion of the paints and coatings industry is driving the demand for high-performance and low-VOC solvents.
Rising industrialization and urbanization are contributing to increased solvent consumption in construction and manufacturing sectors.
The adoption of chemical leasing models is promoting the efficient use of solvents and reducing environmental impact.

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. Mexico 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 Mexico 31

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

5.2. Export Analysis by Mexico 32

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

CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 33

6.1. Demand Analysis by Mexico 33

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

6.2. Supply Analysis by Mexico 34

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

CHAPTER NO. 7 : PRODUCTION ANALYSIS 35

7.1. Production Analysis by Mexico 35

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

CHAPTER NO. 8 : PRICE ANALYSIS 36

8.1. Price Analysis by Type 36

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

8.1.2. Mexico 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. Mexico Industrial Solvents Market: Company Market Share, by Volume, 2023 40

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

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

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

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

11.4. Mexico 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

Mexico 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 – MEXICO ANALYSIS 82

17.1. Type 82

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

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

17.3. Application 83

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

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

17.4. End-Use Industry 84

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

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

17.5. Source 85

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

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

CHAPTER NO. 18 : COMPANY PROFILES 86

18.1. Dow Inc. 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. ExxonMobil Corporation 88

18.3. Eastman Chemical Company 88

18.4. Ashland Mexico Holdings Inc. 88

18.5. Huntsman Corporation 88

18.6. LyondellBasell Industries 88

18.7. Celanese Corporation 88

18.8. PPG Industries, Inc. 88

18.9. Chevron Phillips Chemical Company 88

18.10. DuPont de Nemours, Inc. 88

List of Figures

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

FIG NO. 52. Mexico Industrial Solvents Market for Source 3, Revenue (USD Million) 2018 – 2032 83

FIG NO. 53. Mexico Industrial Solvents Market for Source 4, Revenue (USD Million) 2018 – 2032 84

FIG NO. 54. Mexico Industrial Solvents Market for Source 5, Revenue (USD Million) 2018 – 2032 85

FIG NO. 55. Industrial Solvents Market Revenue Share, By Distribution Channel, 2023 & 2032 87

FIG NO. 56. Market Attractiveness Analysis, By Distribution Channel 88

FIG NO. 57. Incremental Revenue Growth Opportunity by Distribution Channel, 2024 – 2032 88

FIG NO. 58. Industrial Solvents Market Revenue, By Distribution Channel, 2018, 2023, 2027 & 2032 89

FIG NO. 59. Mexico Industrial Solvents Market for Distribution Channel 1, Revenue (USD Million) 2018 – 2032 90

FIG NO. 60. Mexico Industrial Solvents Market for Distribution Channel 2, Revenue (USD Million) 2018 – 2032 91

FIG NO. 61. Mexico Industrial Solvents Market for Distribution Channel 3, Revenue (USD Million) 2018 – 2032 92

FIG NO. 62. Mexico Industrial Solvents Market for Distribution Channel 4, Revenue (USD Million) 2018 – 2032 93

FIG NO. 63. Mexico Industrial Solvents Market for Distribution Channel 5, Revenue (USD Million) 2018 – 2032 94

List of Tables

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

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

TABLE NO. 6. : Mexico Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 95

TABLE NO. 7. : Mexico Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 95

TABLE NO. 8. : Mexico Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 96

TABLE NO. 9. : Mexico Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 96

TABLE NO. 10. : Mexico Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 97

TABLE NO. 11. : Mexico Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 97

TABLE NO. 12. : Mexico Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 98

TABLE NO. 13. : Mexico Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 98

Frequently Asked Questions

What is the current size of the Mexico Industrial Solvents?

The Mexico Industrial Solvents market was valued at USD 874.07 million in 2024.

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

Growth is driven by industrial expansion, infrastructure development, and rising demand for eco-friendly and bio-based solvents.

What are some challenges faced by the Mexico Industrial Solvents?

Key challenges include strict environmental regulations and volatile raw material prices.

Who are the major players in the Mexico Industrial Solvents?

Major players include Dow Inc., ExxonMobil, Eastman Chemical, Ashland Mexico Holdings, and Celanese Corporation.

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