Global Industrial Solvents Market, Size By Type, By Application, By Geographic Scope And Forecast 2024

Global Industrial Solvents Market, Size By Type, By Application, By Geographic Scope And Forecast 2024

According to Global Market Insights, Inc. report, industrial solvents market is projected to register remarkable growth over the span of 2018 to 2024, given its massive demand across the paints and coating and pharmaceutical industries

Industrial solvents market is set to gain massive traction over projected timeframe of 2018 to 2024. This can be credited to enormous product demand across several industries such as paints, pharmaceuticals, cosmetics, printing inks, cleaners, pesticides, etc. Solvents are the chemical compounds which are generally available in liquid form and are mainly used to dissolve, extract or suspend the materials without changing their chemical properties.

 

There are large number of products which rely heavily on solvents for their proper functioning and retention of their properties and also for the type of solvent being used. Oxygenated solvents, in this regard, are estimated to foresee a commendable growth over upcoming years owing to their high usability. For instance, oxygenated solvents can be used in chemical synthesis or as coupling agents, diluents or other additives. Moreover, they have high purity ranging from 99.0% to 99.9% as well as high solvent power.

 

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Paints and coatings segment faring across the overall industrial solvents market

Solvents find massive application in paints and coatings industry owing to their ability to dissolve components present in paint formulation which helps in producing paints with required consistency and eliminates globs and clumps. For example, spray paints commonly consist of glycol ether esters which prevents drying of these paints in mid-air. Further, solvents are also used in automotive coating due to their slow evaporation rate which offers flawless and durable finish to surface coatings.

Industry solvents witnessing burgeoning demand for pharmaceutical segment

Industrial solvents in pharmaceutical industry are likely to observe increased demand considering their usability in large number of pharmaceutical products and several medicines of daily use such as topical ointments, cough syrup, aspirin, penicillin, etc. For instance, butyl acetate is very useful in purification of penicillin as it separates the impurities from the solution enabling selective removal of penicillin.

Key insights into the regional landscape of industrial solvents market

Global industrial solvents industry is diversified into vivid economies including North America, Europe, Asia Pacific, and others. Given below is a mention of how these regions would perform in the overall industry over the foreseeable time frame.

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North America

North America industrial solvents market from cosmetics and personal care industry is anticipated to grow significantly in the years to come. This can be credited to shifting consumer preference towards beauty trends and products in the region. Besides, several useful applications of solvent across different types of cosmetic products will serve as another prominent growth factor for the industry.

For instance, it is predominantly used in, powders, lotions and shaving creams for providing desired consistency owing to its excellent dissolving capacity. Further, the solvent Ethanol is highly preferred in perfume manufacturing companies due to its low odor as well as lower boiling point because of which it evaporates faster and does not remain on skin. Another example is ethyl acetate which is used in nail polish and is especially for its ability to dry faster.

About Global Market Insights

Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.