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U.S. Industrial Solvents Market

U.S. 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
U.S. Industrial Solvents Market Size 2024	USD 10,115.98 million
U.S. Industrial Solvents Market, CGR	7.35%
U.S. Industrial Solvents Market Size 2032	USD 17,836.57 million

Market Overview

U.S. Industrial Solvents market size was valued at USD 10,115.98 million in 2024 and is anticipated to reach USD 17,836.57 million by 2032, at a CAGR of 7.35% during the forecast period (2024-2032).

The U.S. industrial solvents market is experiencing steady growth, driven by rising demand across diverse end-use industries such as chemicals, pharmaceuticals, automotive, and paints and coatings. The increasing adoption of environmentally friendly and bio-based solvents, fueled by stringent environmental regulations and growing sustainability initiatives, is reshaping product innovation and formulation strategies. Additionally, the resurgence of the construction and manufacturing sectors is boosting the consumption of solvents in adhesives, coatings, and cleaning agents. Technological advancements in solvent recovery and recycling processes are further supporting market expansion by enhancing cost-efficiency and minimizing waste. Market players are also investing in R&D to develop high-performance solvents that align with health and safety standards, particularly in applications requiring low toxicity and high solvency power. As consumer awareness around VOC emissions grows, the shift toward green solvents is expected to gain momentum, reinforcing long-term trends in regulatory compliance and environmental responsibility.

The U.S. industrial solvents market is geographically diverse, with key players across the country focusing on different industries and regional demands. The Western United States leads in innovation and sustainability, driven by high-tech industries and stringent environmental regulations in states like California. The Midwestern United States remains a manufacturing hub, with a strong emphasis on automotive and agricultural solvents, while the Southern United States is home to major petrochemical facilities and chemical production plants, driving solvent demand in industrial coatings and pharmaceuticals. The Northeastern United States focuses on high-value applications like pharmaceuticals and specialty chemicals. Major players in the U.S. industrial solvents market include Dow Inc., ExxonMobil Corporation, Eastman Chemical Company, Huntsman Corporation, Celanese Corporation, and PPG Industries, Inc., among others. These companies lead in product development, sustainability efforts, and maintaining a competitive edge in various solvent applications across regional markets.

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Market Insights

The U.S. industrial solvents market was valued at USD 10,115.98 million in 2024 and is expected to reach USD 17,836.57 million by 2032, growing at a CAGR of 7.35% 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 for bio-based and low-VOC solvents is driving market growth due to regulatory pressures and environmental sustainability.
Technological innovations in solvent production, such as improved solvent recovery and recycling systems, are enhancing efficiency.
Green chemistry is becoming a major trend, with a growing focus on developing eco-friendly solvents in response to consumer and regulatory demands.
Major players like Dow Inc., ExxonMobil, and Eastman Chemical dominate the competitive landscape, with significant investments in R&D and sustainability.
The market faces challenges from volatile raw material prices and stringent environmental regulations, which can increase production costs.
The Western U.S. leads the market due to its high-tech industries, while the Midwest and South are strong in automotive and chemical production.

Report Scope

This report segments the U.S. Industrial Solvents market as follows:

Market Drivers

Expanding Demand from Key End-Use Industries

The U.S. industrial solvents market is being strongly driven by robust demand from major end-use sectors including paints and coatings, pharmaceuticals, chemicals, and automotive manufacturing. Solvents play a critical role in these industries by facilitating mixing, dissolution, and processing of various chemical compounds. The construction sector, in particular, continues to be a major consumer of solvents for applications such as surface coatings, sealants, and adhesives. For instance, the U.S. chemical industry has been actively investing in advanced solvent technologies to support growing industrial applications. Similarly, the pharmaceutical sector relies on solvents in drug formulation, purification, and extraction processes. With the ongoing advancements in drug development and infrastructure projects, the solvent market is expected to benefit from consistent downstream consumption across these sectors.

Technological Advancements and Product Innovation

Innovation in solvent formulation and processing technology is another key driver of market growth. Market players are investing significantly in research and development to produce solvents that offer higher efficiency, reduced toxicity, and improved environmental performance. The development of specialty solvents tailored for advanced industrial processes—such as electronics manufacturing, ink production, and precision cleaning—has broadened application areas and increased product value. Additionally, innovations in solvent recovery and recycling technologies are enabling industries to improve sustainability while maintaining operational efficiency. These advancements reduce production costs and regulatory compliance burdens, encouraging broader industrial adoption.

Shift Toward Bio-Based and Low-VOC Solvents

Increasing environmental concerns and regulatory pressures have fueled a notable shift toward bio-based and low-volatile organic compound (VOC) solvents. Government regulations from agencies such as the Environmental Protection Agency (EPA) and the Occupational Safety and Health Administration (OSHA) are encouraging manufacturers to reduce VOC emissions and minimize exposure to hazardous chemicals. In response, companies are prioritizing the development of green solvents derived from renewable resources like corn, soybean, and sugarcane. For instance, the U.S. market is seeing increased adoption of bio-based solvents due to regulatory incentives and sustainability goals. These bio-based alternatives not only meet stringent environmental standards but also offer competitive performance and lower toxicity. As sustainability becomes a central focus for both manufacturers and consumers, demand for eco-friendly solvents is expected to accelerate.

Growth in Manufacturing and Industrial Output

The ongoing resurgence of the U.S. manufacturing sector—driven by reshoring trends, infrastructure development, and government support for domestic production—is contributing significantly to the growth of the industrial solvents market. Increased investment in sectors such as aerospace, automotive, electronics, and general manufacturing is driving the need for solvents used in degreasing, cleaning, metal treatment, and chemical synthesis. Additionally, the U.S. government’s infrastructure investment initiatives are supporting the expansion of construction and industrial facilities, further elevating demand for solvent-based products. This upward momentum in domestic industrial activity is expected to sustain long-term market growth for industrial solvents across the country.

Market Trends

Surging Demand for Green and Bio-Based Solvents

The U.S. industrial solvents market is witnessing a significant shift towards green and bio-based solvents, driven by increasing environmental awareness and stringent regulatory policies. Industries such as paints and coatings, pharmaceuticals, and personal care are adopting these eco-friendly alternatives to reduce volatile organic compound (VOC) emissions and align with sustainability goals. The U.S. Environmental Protection Agency (EPA) and other regulatory bodies are enforcing stricter guidelines, encouraging the transition to solvents derived from renewable resources like corn, soybeans, and citrus fruits. This trend is further supported by consumer demand for safer, biodegradable products, prompting manufacturers to innovate and expand their green solvent portfolios.

Technological Advancements Enhancing Solvent Efficiency

Advancements in green chemistry and biotechnology are playing a pivotal role in the evolution of industrial solvents. Innovations in microbial fermentation and enzymatic processes have enabled the production of high-purity, bio-based solvents with improved performance characteristics. These technological developments not only enhance solvent efficiency but also reduce production costs and environmental impact. For instance, U.S. industries are adopting solvent recovery systems to enhance efficiency and reduce waste. Furthermore, the integration of digital tools and automation in manufacturing processes is optimizing solvent production, ensuring consistent quality, and facilitating compliance with environmental regulations.

Regulatory Policies Driving Market Transformation

Stringent environmental regulations are significantly influencing the U.S. industrial solvents market. Policies aimed at reducing VOC emissions and promoting sustainable practices are compelling industries to reassess their solvent usage. Government incentives, such as tax credits and grants for green initiatives, are encouraging the adoption of bio-based solvents. Additionally, the phasing out of hazardous chemicals and the emphasis on green chemistry principles are prompting manufacturers to invest in research and development of safer, environmentally friendly solvent alternatives.

Expanding Applications Across Diverse Industries

The versatility of green and bio-based solvents is leading to their increased adoption across various industries beyond traditional applications. In the agriculture sector, these solvents are being utilized in the formulation of eco-friendly pesticides and fertilizers. The food processing industry is incorporating bio-based solvents for safer and more sustainable operations. For instance, U.S. industrial expansion efforts have led to increased demand for specialty solvents in advanced manufacturing sectors. Moreover, the electronics and automotive industries are exploring the use of green solvents in cleaning and manufacturing processes to meet environmental standards and consumer expectations. This diversification of applications is contributing to the robust growth of the U.S. industrial solvents market.

Market Challenges Analysis

Stringent Environmental Regulations and Compliance Costs

One of the most significant challenges facing the U.S. industrial solvents market is the tightening of environmental regulations at both federal and state levels. Agencies such as the Environmental Protection Agency (EPA) and the Occupational Safety and Health Administration (OSHA) are enforcing strict controls on volatile organic compound (VOC) emissions, hazardous air pollutants (HAPs), and worker exposure limits. While these regulations are essential for environmental and public health, they also impose compliance burdens on manufacturers. Adapting production processes, reformulating products to meet low-VOC standards, and investing in emission control technologies can significantly increase operational costs. Smaller manufacturers, in particular, may find it difficult to absorb these expenses, which can result in reduced competitiveness or product portfolio limitations. Furthermore, delays in regulatory approvals for new solvent formulations can hinder time-to-market and innovation momentum.

Volatility in Raw Material Prices and Supply Chain Disruptions

Another major challenge impacting the U.S. industrial solvents market is the volatility in raw material prices, especially petrochemical feedstocks such as ethylene, propylene, and benzene. These raw materials are highly sensitive to fluctuations in global crude oil prices and geopolitical events, which can disrupt supply stability and affect pricing strategies. For instance, the U.S. petrochemical sector has experienced fluctuations in feedstock availability due to global trade uncertainties and energy price shifts. Unpredictable shifts in input costs place pressure on manufacturers to either absorb losses or pass costs on to end users, potentially affecting demand elasticity. In addition, ongoing global supply chain disruptions stemming from events such as the COVID-19 pandemic, trade restrictions, and port congestion have strained the timely availability of raw materials and finished products. These disruptions can lead to production slowdowns, increased lead times, and inventory management challenges, particularly in sectors requiring just-in-time manufacturing. As companies work to build more resilient and localized supply chains, cost pressures and logistical complexity remain key barriers to consistent market growth.

Market Opportunities

The U.S. industrial solvents market presents substantial growth opportunities, particularly as industries transition toward sustainability and environmental compliance. The rising demand for bio-based and low-VOC solvents offers manufacturers a chance to differentiate themselves through innovation and green chemistry. Increasing regulatory pressure from agencies such as the Environmental Protection Agency (EPA) has prompted many end-use industries—such as paints and coatings, personal care, and cleaning products—to seek safer, more environmentally friendly alternatives. This shift creates a favorable environment for producers of renewable and biodegradable solvents. Furthermore, advancements in biotechnology and fermentation processes are enabling the scalable production of high-purity green solvents, opening new avenues for application in sectors that prioritize environmental safety, such as pharmaceuticals and electronics.

In addition to the regulatory push, market expansion is being supported by rising industrial activity and infrastructure development across the U.S. Government investments in manufacturing revitalization and clean energy projects are expected to fuel the demand for solvents in coatings, adhesives, degreasers, and cleaning agents. Moreover, the growing emphasis on circular economy practices is encouraging companies to invest in solvent recovery and recycling technologies, which not only reduce operational costs but also align with sustainability goals. Niche applications in emerging sectors—such as electric vehicle (EV) battery manufacturing, advanced materials processing, and medical device production—also offer high-margin opportunities for specialty solvent producers. As industries increasingly focus on both performance and environmental impact, suppliers that can offer innovative, compliant, and customizable solvent solutions are well-positioned to capture long-term value in this evolving market landscape.

Market Segmentation Analysis:

By Type:

The U.S. industrial solvents market is segmented into alcohols, ketones, esters, glycols, and others, each catering to distinct industrial functions. Among these, alcohol-based solvents hold a significant market share due to their widespread use in pharmaceuticals, personal care products, and surface coatings. Their favorable solvency, low toxicity, and compatibility with water-based systems make them ideal for diverse applications. Ketones, such as acetone and methyl ethyl ketone (MEK), are widely employed in paints, adhesives, and chemical manufacturing due to their strong solvency and rapid evaporation characteristics. Esters are gaining popularity in formulations that require improved environmental profiles, particularly in the coatings and cleaning sectors. Glycols, known for their high boiling points and miscibility, are predominantly used in antifreeze, coolants, and ink formulations. The “others” category—encompassing hydrocarbons, ethers, and chlorinated solvents—continues to serve specialized roles in degreasing, extraction, and precision cleaning. The growing focus on environmentally friendly and high-performance solvents is driving innovation across all solvent types.

By Application:

Based on application, the U.S. industrial solvents market is segmented into paints and coatings, pharmaceuticals, printing inks, adhesives and sealants, and others. Paints and coatings represent the largest segment, fueled by robust demand in construction, automotive, and industrial maintenance. Solvents in this category enhance application properties and film formation, playing a critical role in product performance. The pharmaceutical sector is another key consumer, where solvents are used in drug formulation, purification, and synthesis. Strict quality standards and the need for controlled purity drive solvent selection in this industry. Printing inks benefit from solvents that enable fast drying and color consistency, while adhesives and sealants utilize solvents for viscosity control and bonding strength. The “others” segment includes applications in agrochemicals, cleaning products, and electronics manufacturing. As these industries grow and shift toward sustainability, solvent producers have opportunities to offer targeted, compliant, and high-performance solutions across all major application areas.

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:

Western United States
Midwestern United States
Southern United States
Northeastern United States

Regional Analysis

Western United States

The Western United States accounts for approximately 30% of the U.S. industrial solvents market, making it the largest regional contributor. This dominance is driven by the region’s strong presence in the chemicals, electronics, and aerospace industries—particularly in states like California and Washington. The high concentration of technology manufacturing hubs and environmental innovation centers has fostered demand for high-performance, eco-friendly solvents. Moreover, California’s strict air quality and environmental regulations have accelerated the adoption of low-VOC and bio-based solvents, further encouraging innovation and reformulation among regional manufacturers. The West’s focus on sustainability and green chemistry, coupled with its well-developed infrastructure and access to Pacific trade routes, continues to position it as a leading and progressive market for industrial solvents.

Midwestern United States

The Midwestern United States holds a 27% market share and remains a critical region for industrial solvent consumption due to its large base of manufacturing, automotive, and agricultural operations. States such as Illinois, Ohio, and Michigan house a significant number of solvent-using industries, particularly in paints, coatings, adhesives, and automotive surface treatments. The region’s industrial heritage and ongoing investments in advanced manufacturing make it a consistent demand center. Additionally, the Midwest benefits from well-established supply chain networks and proximity to raw material sources, enabling efficient production and distribution. While environmental regulations are less restrictive compared to the West, increasing pressure to align with federal standards is prompting greater interest in green solvents and sustainable practices.

Southern United States

The Southern United States represents approximately 23% of the U.S. industrial solvents market. This region is characterized by rapid industrial growth, a strong presence of petrochemical refining, and a favorable business climate that supports chemical manufacturing. States such as Texas and Louisiana host some of the largest chemical plants and refineries in the country, providing easy access to raw materials used in solvent production. The South also serves as a hub for industrial coatings, pharmaceuticals, and adhesives, which sustain solvent demand. Although environmental compliance is gradually tightening, the region’s regulatory environment remains comparatively lenient, giving manufacturers some flexibility in formulation and production.

Northeastern United States

The Northeastern United States contributes around 20% to the overall market share. This region has a well-established base in pharmaceuticals, printing, and specialty chemicals—industries where solvent use remains essential. States like New York, New Jersey, and Massachusetts host numerous R&D centers and production facilities focused on high-value formulations, particularly for healthcare and biotech. The Northeast’s strict environmental policies and consumer demand for safer products are driving the transition toward low-toxicity and sustainable solvents. While smaller in manufacturing scale than other regions, the Northeast’s emphasis on innovation, compliance, and value-added production ensures steady solvent demand in niche and high-specification applications.

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Key Player Analysis

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

Competitive Analysis

The U.S. industrial solvents market is highly competitive, with several key players dominating the landscape. Dow Inc., ExxonMobil Corporation, Eastman Chemical Company, Ashland U.S. Holdings Inc., Huntsman Corporation, LyondellBasell Industries, Celanese Corporation, PPG Industries, Inc., Chevron Phillips Chemical Company, and DuPont de Nemours, Inc. are the leading companies driving market innovation and growth. Key strategies include expanding portfolios to include eco-friendly solvents, such as bio-based and low-VOC alternatives, which are increasingly in demand due to stricter environmental regulations. Additionally, technological advancements in solvent recovery and recycling systems are gaining traction, helping companies reduce costs while adhering to sustainability goals. Firms are also concentrating on developing high-performance solvents tailored for niche applications, such as pharmaceuticals, electronics, and specialty coatings. This targeted approach allows companies to serve growing industries and meet specific customer demands. Competitive dynamics are further influenced by ongoing research and development efforts aimed at improving solvent efficiency, reducing toxicity, and meeting regulatory requirements in various regions. The market is also shaped by strategic collaborations, partnerships, and acquisitions as companies seek to expand their market presence, particularly in high-demand regions like the Western and Southern U.S. Competitive pricing and high-quality standards are essential factors for gaining market share. As regulatory pressures increase, companies that can offer compliant, cost-effective, and sustainable solutions are well-positioned for long-term success in the U.S. industrial solvents 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 U.S. industrial solvents market is moderately concentrated, with a mix of large multinational corporations and specialized regional players dominating the landscape. While a few major companies hold substantial market share, the industry remains fragmented due to the diversity of applications and the varying demands of end-use sectors. This results in a competitive environment where companies continually innovate to meet evolving customer needs and regulatory standards. The market is characterized by a strong focus on sustainability, with increasing emphasis on bio-based and low-VOC solvents to align with environmental regulations. Companies also invest in research and development to create high-performance solvents that cater to niche applications, such as pharmaceuticals, electronics, and specialty coatings. Market players are also adopting strategies such as partnerships, mergers, and acquisitions to expand their product offerings and geographical reach. As environmental and regulatory pressures intensify, players must balance innovation with cost-effectiveness to maintain their competitive position.

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 demand for bio-based and low-VOC solvents is expected to continue growing as industries prioritize sustainability and comply with stricter environmental regulations.
Technological advancements in solvent recovery and recycling will drive cost-efficiency and environmental benefits, leading to increased adoption across industries.
The shift towards green chemistry will spur innovation, with companies focusing on developing safer, biodegradable solvents for a variety of applications.
The pharmaceutical and personal care industries will remain key drivers of solvent demand due to the need for high-purity, specialized formulations.
Increased investment in electric vehicle (EV) and battery manufacturing will create new opportunities for industrial solvents in coatings, adhesives, and cleaning applications.
Rising urbanization and infrastructure development will fuel demand for solvents in construction-related applications such as paints and coatings.
As regulatory pressures increase, companies will be pushed to reformulate products to meet sustainability standards, influencing product development strategies.
The Midwest and Western U.S. will continue to be critical hubs for manufacturing and innovation, supporting strong demand for industrial solvents.
Strategic collaborations and acquisitions will help companies expand their market reach and strengthen their portfolios of sustainable solvent solutions.
As competition intensifies, companies will focus on differentiating their products by offering specialized and environmentally friendly solvent solutions.

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. U.S. 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 U.S. 31

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

5.2. Export Analysis by U.S. 32

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

CHAPTER NO. 6 : DEMAND SUPPLY ANALYSIS 33

6.1. Demand Analysis by U.S. 33

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

6.2. Supply Analysis by U.S. 34

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

CHAPTER NO. 7 : PRODUCTION ANALYSIS 35

7.1. Production Analysis by U.S. 35

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

CHAPTER NO. 8 : PRICE ANALYSIS 36

8.1. Price Analysis by Type 36

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

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

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

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

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

11.3. U.S. Industrial Solvents Market Company Volume Market Share, 2023 43

11.4. U.S. 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

U.S. 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 – U.S. ANALYSIS 82

17.1. Type 82

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

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

17.3. Application 83

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

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

17.4. End-Use Industry 84

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

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

17.5. Source 85

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

17.5.2. U.S. 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 U.S. 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. U.S. Industrial Solvents Market Revenue, 2018 – 2032 (USD Million) 23

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

FIG NO. 54. U.S. 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. U.S. Industrial Solvents Market for Distribution Channel 1, Revenue (USD Million) 2018 – 2032 90

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

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

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

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

List of Tables

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

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

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

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

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

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

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

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

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

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

Frequently Asked Questions

What is the current size of the U.S. Industrial Solvents?

The U.S. industrial solvents market was valued at USD 10,115.98 million in 2024 and is projected to reach USD 17,836.57 million by 2032, growing at a CAGR of 7.35%.

What factors are driving the growth of the U.S. Industrial Solvents?

Key growth drivers include rising demand from end-use industries, the shift toward bio-based solvents, and advancements in solvent recovery technologies.

What are the key segments within the U.S. Industrial Solvents?

The market is segmented by type (alcohols, ketones, esters), application (paints & coatings, pharmaceuticals), end-use, source, and geography.

Who are the major players in the U.S. Industrial Solvents?

Leading players include Dow Inc., ExxonMobil Corporation, Eastman Chemical Company, Huntsman Corporation, Celanese Corporation, and DuPont de Nemours, Inc.

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