North America Industrial Solvents Market Size 2024
USD 12,157.17 Million
North America Industrial Solvents Market, CAGR
7.17%
North America Industrial Solvents Market Size 2032
USD 21,150.92 Million
Market Overview
North America Industrial Solvents Market size was valued at USD 12,157.17 million in 2024 and is anticipated to reach USD 21,150.92 million by 2032, at a CAGR of 7.17% during the forecast period (2024-2032).
The North America industrial solvents market is driven by robust demand across key end-use industries such as chemicals, pharmaceuticals, paints and coatings, and adhesives. The region’s strong manufacturing base, coupled with advancements in chemical processing technologies, supports consistent solvent consumption. Environmental regulations are prompting a shift toward bio-based and low-VOC solvents, fostering innovation and sustainable product development. The increasing adoption of green chemistry practices, along with the growing emphasis on operational efficiency and product performance, further accelerates market growth. Additionally, the rise of shale gas production in the U.S. ensures a stable supply of raw materials, enhancing cost competitiveness for domestic manufacturers. Trends such as solvent recycling, customized formulations, and automation in application processes are also reshaping the competitive landscape. With heightened focus on sustainability and regulatory compliance, industry players are actively investing in R&D to meet evolving market demands while aligning with environmental and safety standards.
The North American industrial solvents market is characterized by significant demand across the United States, Canada, and Mexico, driven by diverse industrial sectors such as automotive, construction, pharmaceuticals, and manufacturing. The U.S. remains the largest market, with its robust industrial base and focus on sustainable solutions. Canada’s solvent demand is influenced by its mining, automotive, and construction industries, while Mexico benefits from growing manufacturing sectors and its strategic trade agreements. Key players in the region include Dow Inc., ExxonMobil Corporation, Eastman Chemical Company, and Huntsman Corporation, which dominate the market with a wide range of solvent products. These companies are investing in eco-friendly technologies and innovative solvent solutions to meet the growing regulatory pressures and consumer demand for sustainable products. The competitive landscape is shaped by the increasing focus on reducing volatile organic compound emissions and improving cost-efficiency in solvent usage.Top of FormBottom of Form
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The North American industrial solvents market is valued at approximately 12,157.17 million in 2024, with a projected CAGR of 7.17% 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).
Increasing demand in the automotive, construction, and pharmaceutical sectors drives the growth of industrial solvents in the region.
The shift towards eco-friendly, bio-based solvents is a key market trend, as industries focus on sustainability and comply with stricter environmental regulations.
Growing use of advanced solvent recovery systems is boosting market efficiency and reducing operational costs in key industries.
Key players include Dow Inc., ExxonMobil, Eastman Chemical, and Huntsman Corporation, leading innovations in solvent formulations and sustainable solutions.
Volatile raw material prices and supply chain disruptions pose significant market restraints, impacting solvent production costs.
The U.S. dominates the market, with Canada and Mexico showing steady growth due to expanding manufacturing and industrial sectors.
Report Scope
This report segments the North America Industrial Solvents market as follows:
Market Drivers
Robust Industrial Growth and Manufacturing Expansion
North America’s industrial solvents market is primarily driven by robust industrial growth, particularly in manufacturing sectors like automotive, chemicals, and electronics. For instance, the U.S. automotive sector has seen increased reliance on solvent-based coatings and cleaning solutions due to rising production volumes and the expansion of electric vehicle (EV) manufacturing. The region’s advanced manufacturing capabilities, particularly in the U.S. and Canada, are significant contributors to solvent demand. The automotive industry, which is one of the largest consumers of industrial solvents for cleaning, coating, and paint applications, is expanding due to increased production of electric vehicles (EVs) and the ongoing demand for fuel-efficient and lightweight vehicles. Additionally, as the electronics sector grows, there is an increased need for solvents used in cleaning and component manufacturing processes. This industrial growth across various sectors promotes a steady demand for solvents, fueling market expansion.
Demand for Eco-Friendly Solvents and Sustainability Initiatives
As environmental concerns and regulatory pressures rise, North American industries are shifting toward greener, sustainable solvent options. Stringent regulations such as the U.S. Environmental Protection Agency’s (EPA) guidelines and the implementation of low-VOC (volatile organic compound) standards have driven the development and adoption of bio-based and low-emission solvents. Solvent manufacturers are investing in research and development (R&D) to innovate and produce environmentally friendly solutions to meet these growing regulations. The demand for eco-friendly solvents is particularly evident in industries like coatings, paints, adhesives, and cleaning, where environmentally safer alternatives are increasingly becoming the preferred choice. This trend towards sustainability has become a significant market driver as companies seek to comply with environmental standards and improve their corporate social responsibility (CSR) profiles.
Expanding Applications in the Paints and Coatings Industry
The North American paints and coatings industry remains one of the largest consumers of industrial solvents, driving considerable demand in the region. Solvents are essential in the production of paints and coatings for both architectural and industrial applications, including automotive, construction, and furniture. The ongoing construction boom, coupled with an increasing focus on home renovations and infrastructure development, propels solvent demand. Furthermore, the rising preference for high-performance coatings in automotive and industrial applications has led to the increased use of solvents in these processes. With innovations in solvent-based paint formulations, which improve durability and environmental performance, the demand for industrial solvents in the coatings industry is expected to grow consistently in the coming years.
Technological Advancements and Improved Solvent Recovery Methods
Technological advancements in solvent recovery and recycling technologies are becoming pivotal drivers in the North American industrial solvents market. The growing emphasis on reducing operational costs and improving sustainability has prompted companies to adopt advanced solvent recovery systems. For instance, North America’s solvent recovery market is expanding due to increasing adoption of closed-loop recycling systems and digitalized solvent management solutions. These systems enable industries to recycle and reuse solvents, reducing the need for fresh solvent procurement and minimizing waste disposal. Additionally, the integration of automation and digitalization in solvent management processes has improved efficiency, ensuring that solvents are used in a more controlled and effective manner. As industries strive for cost-effectiveness and regulatory compliance, the adoption of advanced solvent recovery technologies is expected to play a key role in shaping the market dynamics in North America.
Market Trends
Shift Toward Bio-Based and Green Solvents
A key trend in the North American industrial solvents market is the growing demand for bio-based and green solvents. With heightened environmental awareness and stricter regulations on VOCs (volatile organic compounds), industries are increasingly adopting sustainable alternatives to traditional petroleum-based solvents. Bio-based solvents, derived from renewable resources such as plants and agricultural by-products, are gaining popularity in various sectors, including paints, coatings, adhesives, and cleaning products. These eco-friendly solvents offer lower toxicity, reduced environmental impact, and improved safety profiles, aligning with both regulatory requirements and consumer preference for sustainable products. This trend is expected to accelerate as environmental standards tighten and companies prioritize sustainability in their operations.
Increasing Demand for High-Performance Solvents
Another significant trend is the rising demand for high-performance solvents, particularly in specialized applications. Industries such as automotive, electronics, and aerospace require solvents that can meet stringent performance standards, including enhanced cleaning abilities, higher purity, and improved stability under extreme conditions. As these sectors advance technologically, the need for solvents that can optimize production processes, reduce defects, and increase the lifespan of products is growing. In the automotive industry, for example, high-performance solvents are used in paint and coating applications to achieve better finishes and durability. This trend towards performance-driven solvents is expected to fuel market growth, especially as industrial applications become more sophisticated and demanding.
Technological Innovations in Solvent Recovery and Recycling
Technological advancements in solvent recovery and recycling are becoming increasingly prominent in the North American industrial solvents market. Companies are focusing on developing and implementing systems that allow for the efficient recovery and reuse of solvents, reducing the overall environmental footprint and operating costs. For instance, North America’s solvent recovery market is expanding due to increasing adoption of closed-loop recycling systems and digitalized solvent management solutions. Solvent recovery technologies, such as distillation, filtration, and absorption, enable industries to minimize waste and optimize solvent usage. With increased pressure to comply with environmental regulations and reduce costs, manufacturers are adopting these technologies to enhance their sustainability efforts. This trend is particularly strong in sectors with high solvent usage, such as paints, coatings, and cleaning, where solvent recycling can significantly reduce both costs and environmental impact.
Regulatory Compliance Driving Innovation and Market Demand
The evolving regulatory landscape in North America is driving innovation and shaping market demand for industrial solvents. For instance, agencies like the U.S. Environmental Protection Agency (EPA) have implemented stricter regulations on solvent emissions, particularly concerning VOCs and other hazardous air pollutants. These regulations have prompted companies to invest in the development of low-VOC and non-toxic solvent alternatives that meet new standards while maintaining performance. As businesses work to comply with these regulations, the demand for advanced solvent technologies and environmentally friendly solutions continues to rise. This trend is expected to accelerate in the coming years, especially as stricter environmental policies are implemented and consumers demand more sustainable products.
Market Challenges Analysis
Regulatory Compliance and Environmental Pressure
One of the primary challenges facing the North American industrial solvents market is navigating the complex and ever-evolving regulatory environment. Stricter regulations regarding volatile organic compounds (VOCs), hazardous air pollutants (HAPs), and other emissions are increasing the compliance burden for companies. For instance, the U.S. Environmental Protection Agency (EPA) has implemented stringent VOC emission standards, requiring industries to transition toward low-VOC and bio-based solvent solutions. The U.S. Environmental Protection Agency (EPA) and various state-level agencies are consistently tightening environmental standards, making it more difficult for manufacturers to meet these regulations while maintaining product performance. This has led to increased costs associated with compliance, such as investments in research and development of low-VOC solvents, as well as the implementation of costly pollution control technologies. Smaller companies, in particular, may struggle to keep up with these stringent requirements, potentially hindering market participation and innovation.
Volatility in Raw Material Prices and Supply Chain Disruptions
Another significant challenge facing the industrial solvents market in North America is the volatility in raw material prices and supply chain disruptions. Solvents are primarily derived from petrochemical products, and fluctuations in the price of crude oil and natural gas directly impact solvent production costs. Any instability in the oil markets, whether due to geopolitical tensions, natural disasters, or other factors, can lead to price hikes that affect manufacturers’ profitability. Additionally, recent disruptions in global supply chains, including labor shortages and transportation bottlenecks, have exacerbated the challenge. These supply chain issues can lead to delays in the procurement of key raw materials, resulting in production setbacks and increased operational costs. As a result, manufacturers must adopt strategies to mitigate these risks, such as diversifying suppliers or investing in alternative sources of raw materials, which can increase costs and complicate operations.
Market Opportunities
The Middle East and Africa industrial solvents market presents several growth opportunities driven by the expanding industrial landscape and increasing demand for solvent-based products across various sectors. The region’s rapidly developing construction, automotive, and manufacturing industries are key drivers of this growth, particularly with the ongoing infrastructure development in countries like the United Arab Emirates, Saudi Arabia, and South Africa. As these industries expand, the demand for solvents used in paints, coatings, adhesives, and cleaning agents is expected to rise significantly. Furthermore, the oil and gas sector, a cornerstone of the region’s economy, continues to require solvents for extraction, refining, and equipment maintenance, creating a steady demand for industrial solvents. The shift towards sustainable and environmentally friendly solutions is also fostering opportunities, particularly with bio-based solvents and low-VOC alternatives gaining traction in response to stricter environmental regulations.
In addition, technological advancements in solvent recovery and recycling present significant opportunities for market growth. As industrial facilities increasingly seek to optimize costs and reduce environmental impact, there is a growing demand for efficient solvent recovery systems that enable the reuse and recycling of solvents. This not only improves operational efficiency but also aligns with the region’s broader goals of sustainability and waste reduction. The development of innovative solvent formulations that meet both performance and environmental standards is also a promising avenue for growth. As regulatory frameworks tighten and industries look for greener solutions, the market for advanced, eco-friendly industrial solvents is poised for significant expansion. With the region’s diverse industrial base and commitment to modernization, the Middle East and Africa market offers substantial potential for both existing and new solvent manufacturers.
Market Segmentation Analysis:
By Type:
The North American industrial solvents market is segmented by type into alcohols, ketones, esters, glycols, and others. Alcohols, such as methanol, ethanol, and isopropanol, are widely used due to their excellent solvent properties, making them essential in industries like paints, coatings, and pharmaceuticals. Alcohols are particularly favored for their ability to dissolve a wide range of compounds, making them versatile in cleaning agents, sanitizers, and drug formulation. Ketones, including acetone and methyl ethyl ketone (MEK), are known for their fast evaporation rates and are key in coatings, adhesives, and cleaning agents. Esters, such as ethyl acetate, are commonly used in paints and coatings due to their balanced solvency power, low toxicity, and favorable evaporation rates. Glycols, such as ethylene glycol, are primarily used in antifreeze, hydraulic fluids, and as a base in various chemical processes. The “others” category includes aliphatic hydrocarbons and aromatic hydrocarbons, which serve in a range of applications, including degreasing and extraction.
By Application:
In North America, the industrial solvents market is further segmented based on application, with significant demand in paints and coatings, pharmaceuticals, printing inks, adhesives and sealants, and others. The paints and coatings industry is the largest consumer of industrial solvents, particularly driven by the construction and automotive sectors. Solvents are essential in thinning paints, facilitating smooth finishes, and optimizing performance. Pharmaceuticals also account for a substantial share of solvent demand, with solvents being integral in drug formulation and extraction processes. The printing ink industry relies heavily on solvents for dissolving resins, pigments, and additives. Adhesives and sealants, primarily used in construction, automotive, and packaging, also significantly contribute to the demand for industrial solvents. The “others” category covers a variety of industries, including cleaning products, personal care, and agriculture, each utilizing solvents for processes such as degreasing, extraction, and formulation.
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:
U.S.
Canada
Mexico
Regional Analysis
United States
The United States dominates the North American industrial solvents market, accounting for approximately 70% of the total market share. The country’s large and diverse industrial base, including automotive manufacturing, construction, pharmaceuticals, and paints and coatings, drives substantial demand for industrial solvents. The U.S. is home to several major solvent-consuming industries, such as automotive production, where solvents are essential in painting, cleaning, and degreasing. The paints and coatings industry, driven by the booming construction and infrastructure sectors, also represents a significant portion of the demand. Additionally, the pharmaceutical industry, which continues to grow with innovations in drug manufacturing, further supports the U.S. market’s dominance. Regulatory pressures and a shift toward eco-friendly solvents are also influencing demand, as industries look for sustainable solutions.
Canada
Canada holds approximately 15% of the North American industrial solvents market. The country’s industrial solvent consumption is driven by sectors such as automotive manufacturing, mining, and construction. The automotive sector, particularly in regions like Ontario and Quebec, relies heavily on solvents for paint formulations and vehicle cleaning. Additionally, Canada’s mining industry, which is one of the largest in the world, uses industrial solvents for extraction processes and equipment cleaning. With the country’s focus on green energy and sustainable practices, there is also an increasing trend toward adopting bio-based and eco-friendly solvents, which are expected to boost growth in the coming years.
Mexico
Mexico represents around 15% of the industrial solvents market in North America. The country has a rapidly growing manufacturing base, with the automotive, construction, and chemical industries as major consumers of industrial solvents. Mexico is a key player in the automotive industry, especially for vehicle assembly and parts manufacturing, where solvents are used in coatings and cleaning processes. The construction sector, supported by increased infrastructure development and residential projects, also contributes to solvent demand, particularly in paints and coatings. Additionally, Mexico’s expanding pharmaceutical sector is driving the demand for solvents used in drug formulation and production. The market is expected to see steady growth due to increasing industrialization and the country’s strategic trade agreements, which enhance cross-border trade with the U.S. and Canada.
Key Player Analysis
Dow Inc.
ExxonMobil Corporation
Eastman Chemical Company
Ashland North America Holdings Inc.
Huntsman Corporation
LyondellBasell Industries
Celanese Corporation
PPG Industries, Inc.
Chevron Phillips Chemical Company
DuPont de Nemours, Inc.
Competitive Analysis
The North American industrial solvents market is highly competitive, with several key players driving innovation, product development, and market growth. Leading companies include Dow Inc., ExxonMobil Corporation, Eastman Chemical Company, Huntsman Corporation, LyondellBasell Industries, Celanese Corporation, PPG Industries, Inc., Chevron Phillips Chemical Company, and DuPont de Nemours, Inc. These companies dominate the market by offering a diverse range of solvents across various industries, including automotive, pharmaceuticals, construction, and coatings. Market leaders are investing heavily in research and development to align with increasing regulatory pressures related to environmental sustainability. As a result, many companies are transitioning to eco-friendly and low-VOC solvents to meet consumer demand and comply with stringent environmental regulations.
The competition is also driven by technological advancements, such as solvent recovery systems, which help manufacturers optimize their operations by reducing waste and improving cost-efficiency. Companies with strong supply chains and manufacturing capabilities are gaining a competitive edge, especially as raw material costs and supply chain disruptions continue to challenge the industry. Additionally, collaboration and strategic partnerships are common in this market, allowing companies to expand their product offerings and access new markets. As the market evolves, players are focusing on enhancing product performance, reducing environmental impact, and ensuring regulatory compliance to maintain their competitive positions.
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 North American industrial solvents market is characterized by moderate concentration, with a few large multinational companies dominating the sector, while a number of smaller regional players also contribute to market dynamics. The market is primarily driven by key players that focus on offering a wide range of solvents, including petroleum-based, bio-based, and high-performance options, to cater to various industries such as automotive, pharmaceuticals, and construction. These companies often have established supply chains, significant production capabilities, and a global reach. However, the market also sees a growing presence of specialty solvent manufacturers that provide niche solutions, particularly in response to the increasing demand for eco-friendly and low-VOC solvents. The competitive landscape is marked by continuous innovation, as companies strive to meet regulatory requirements and consumer preferences for sustainable products. Additionally, strategic partnerships, mergers, and acquisitions are common as companies seek to strengthen their market positions and expand product offerings.
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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 demand for eco-friendly and low-VOC solvents is expected to grow as industries adopt more sustainable practices.
Increased regulatory pressures will push companies to innovate and develop greener solvent alternatives.
The rise of advanced solvent recovery technologies will drive operational efficiency and reduce waste in industrial processes.
Growth in the automotive, construction, and pharmaceutical sectors will continue to fuel solvent demand in North America.
There will be a shift towards bio-based solvents, driven by consumer demand and environmental concerns.
The market will see a rise in the use of solvents in emerging applications, such as 3D printing and electronics manufacturing.
Mergers, acquisitions, and strategic partnerships will be key strategies for companies to strengthen their market positions.
Automation and digitalization in manufacturing processes will enhance solvent usage efficiency and lower costs.
Continued expansion of manufacturing facilities in Mexico will support market growth in the region.
The demand for solvent-based coatings and paints will remain strong, particularly in infrastructure and residential construction.
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. North 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 North America 32
5.1.1. North America Industrial Solvents Market Import Volume/Revenue, By North America, 2018 – 2023 32
5.2. Export Analysis by North America 33
5.2.1. North America Industrial Solvents Market Export Volume/Revenue, By North America, 2018 – 2023 33 CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 34
6.1. Demand Analysis by North America 34
6.1.1. North America Industrial Solvents Market Demand Volume/Revenue, By North America, 2018 – 2023 34
6.2. Supply Analysis by North America 35
6.2.1. North America Industrial Solvents Market Supply Volume/Revenue, By North America, 2018 – 2023 35 CHAPTER NO. 7 : PRODUCTION ANALYSIS 36
7.1. Production Analysis by North America 36
7.1.1. North America Industrial Solvents Market Production Volume/Revenue, By North America, 2018 – 2023 36 CHAPTER NO. 8 : PRICE ANALYSIS 37
8.1. Price Analysis by Type 37
8.1.1. North America Industrial Solvents Market Price, By Type, 2018 – 2023 37
8.1.2. North 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. North America Industrial Solvents Market: Company Market Share, by Volume, 2023 41
11.2.2. North America Industrial Solvents Market: Company Market Share, by Revenue, 2023 42
11.2.3. North America Industrial Solvents Market: Top 6 Company Market Share, by Revenue, 2023 42
11.2.4. North America Industrial Solvents Market: Top 3 Company Market Share, by Revenue, 2023 43
11.3. North America Industrial Solvents Market Company Volume Market Share, 2023 44
11.4. North 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 North 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
16.4. Source 3 83
16.5. Source 4 84
16.6. Source 5 85 CHAPTER NO. 17 : INDUSTRIAL SOLVENTS MARKET – BY DISTRIBUTION CHANNEL SEGMENT ANALYSIS 86
17.1. Industrial Solvents Market Overview, by Distribution Channel Segment 86
17.1.1. Industrial Solvents Market Revenue Share, By Distribution Channel, 2023 & 2032 87
17.1.2. Industrial Solvents Market Attractiveness Analysis, By Distribution Channel 88
17.1.3. Incremental Revenue Growth Opportunity, by Distribution Channel, 2024 – 2032 88
17.1.4. Industrial Solvents Market Revenue, By Distribution Channel, 2018, 2023, 2027 & 2032 89
17.2. Distribution Channel 1 90
17.3. Distribution Channel 2 91
17.4. Distribution Channel 3 92
17.5. Distribution Channel 4 93
17.6. Distribution Channel 5 94 CHAPTER NO. 18 : INDUSTRIAL SOLVENTS MARKET – NORTH AMERICA ANALYSIS 95
18.1. Type 95
18.1.1. North America Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 95
18.2. North America Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 95
18.3. Application 96
18.3.1. North America Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 96
18.3.2. North America Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 96
18.4. End-Use Industry 97
18.4.1. North America Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 97
18.4.2. North America Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 97
18.5. Source 98
18.5.1. North America Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 98
18.5.2. North America Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 98
18.6. U.S. 98
18.7. Canada 98
18.8. Mexico 98 CHAPTER NO. 19 : COMPANY PROFILES 99
19.1. Dow Inc. 99
19.1.1. Company Overview 99
19.1.2. Product Portfolio 99
19.1.3. Swot Analysis 99
19.1.4. Business Strategy 100
19.1.5. Financial Overview 100
19.2. ExxonMobil Corporation 101
19.3. Eastman Chemical Company 101
19.4. Ashland North America Holdings Inc. 101
19.5. Huntsman Corporation 101
19.6. LyondellBasell Industries 101
19.7. Celanese Corporation 101
19.8. PPG Industries, Inc. 101
19.9. Chevron Phillips Chemical Company 101
19.10. DuPont de Nemours, Inc. 101
List of Figures
FIG NO. 1. North America Industrial Solvents Market Revenue, 2018 – 2032 (USD Million) 23
FIG NO. 2. Porter’s Five Forces Analysis for North America Industrial Solvents Market 30
FIG NO. 3. North America Industrial Solvents Market Import Volume/Revenue, By North America, 2018 – 2023 32
FIG NO. 4. North America Industrial Solvents Market Export Volume/Revenue, By North America, 2018 – 2023 33
FIG NO. 5. North America Industrial Solvents Market Demand Volume/Revenue, By North America, 2018 – 2023 34
FIG NO. 6. North America Industrial Solvents Market Supply Volume/Revenue, By North America, 2018 – 2023 35
FIG NO. 7. North America Industrial Solvents Market Production Volume/Revenue, By North America, 2018 – 2023 36
FIG NO. 8. North 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 North 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. North America Industrial Solvents Market for Alcohols, Revenue (USD Million) 2018 – 2032 54
FIG NO. 24. North America Industrial Solvents Market for Ketones, Revenue (USD Million) 2018 – 2032 55
FIG NO. 25. North America Industrial Solvents Market for Esters, Revenue (USD Million) 2018 – 2032 56
FIG NO. 26. North America Industrial Solvents Market for Glycols, Revenue (USD Million) 2018 – 2032 57
FIG NO. 27. North 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. North America Industrial Solvents Market for Paints & Coatings, Revenue (USD Million) 2018 – 2032 63
FIG NO. 33. North America Industrial Solvents Market for Pharmaceuticals, Revenue (USD Million) 2018 – 2032 64
FIG NO. 34. North America Industrial Solvents Market for Printing Inks, Revenue (USD Million) 2018 – 2032 65
FIG NO. 35. North America Industrial Solvents Market for Adhesives & Sealants, Revenue (USD Million) 2018 – 2032 66
FIG NO. 36. North 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. North America Industrial Solvents Market for Construction, Revenue (USD Million) 2018 – 2032 72
FIG NO. 42. North America Industrial Solvents Market for Automotive, Revenue (USD Million) 2018 – 2032 73
FIG NO. 43. North America Industrial Solvents Market for Electronics, Revenue (USD Million) 2018 – 2032 74
FIG NO. 44. North America Industrial Solvents Market for Agriculture, Revenue (USD Million) 2018 – 2032 75
FIG NO. 45. North 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. North America Industrial Solvents Market for Petrochemical-Based Solvents, Revenue (USD Million) 2018 – 2032 81
FIG NO. 51. North America Industrial Solvents Market for Bio-Based Solvents, Revenue (USD Million) 2018 – 2032 82
FIG NO. 52. North America Industrial Solvents Market for Source 3, Revenue (USD Million) 2018 – 2032 83
FIG NO. 53. North America Industrial Solvents Market for Source 4, Revenue (USD Million) 2018 – 2032 84
FIG NO. 54. North America 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. North America Industrial Solvents Market for Distribution Channel 1, Revenue (USD Million) 2018 – 2032 90
FIG NO. 60. North America Industrial Solvents Market for Distribution Channel 2, Revenue (USD Million) 2018 – 2032 91
FIG NO. 61. North America Industrial Solvents Market for Distribution Channel 3, Revenue (USD Million) 2018 – 2032 92
FIG NO. 62. North America Industrial Solvents Market for Distribution Channel 4, Revenue (USD Million) 2018 – 2032 93
FIG NO. 63. North America Industrial Solvents Market for Distribution Channel 5, Revenue (USD Million) 2018 – 2032 94
List of Tables
TABLE NO. 1. : North 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. : North America Industrial Solvents Market Revenue, By Type, 2018 – 2023 37
TABLE NO. 5. : Key Raw Materials & Suppliers 38
TABLE NO. 6. : North America Industrial Solvents Market Revenue, By Type, 2018 – 2023 (USD Million) 95
TABLE NO. 7. : North America Industrial Solvents Market Revenue, By Type, 2024 – 2032 (USD Million) 95
TABLE NO. 8. : North America Industrial Solvents Market Revenue, By Application, 2018 – 2023 (USD Million) 96
TABLE NO. 9. : North America Industrial Solvents Market Revenue, By Application, 2024 – 2032 (USD Million) 96
TABLE NO. 10. : North America Industrial Solvents Market Revenue, By End-Use Industry, 2018 – 2023 (USD Million) 97
TABLE NO. 11. : North America Industrial Solvents Market Revenue, By End-Use Industry, 2024 – 2032 (USD Million) 97
TABLE NO. 12. : North America Industrial Solvents Market Revenue, By Source, 2018 – 2023 (USD Million) 98
TABLE NO. 13. : North America Industrial Solvents Market Revenue, By Source, 2024 – 2032 (USD Million) 98
Frequently Asked Questions:
What is the current size of the North America Industrial Solvents?
The market was valued at USD 12,157.17 million in 2024 and is projected to reach USD 21,150.92 million by 2032.
What factors are driving the growth of the North America Industrial Solvents?
Key drivers include rising demand from automotive, construction, and pharmaceutical sectors, along with a shift toward sustainable and bio-based solvents.
What are the key segments within the North America Industrial Solvents?
The market is segmented by type (alcohols, ketones, esters, glycols, others), application, end-use industry, source, and geography.
What are some challenges faced by the North America Industrial Solvents?
Major challenges include regulatory compliance related to VOCs and volatility in raw material prices and global supply chain disruptions.
Who are the major players in the North America Industrial Solvents?
Leading players include Dow Inc., ExxonMobil, Eastman Chemical Company, Huntsman Corporation, and DuPont de Nemours, Inc.
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