Solvent Market Size to be Worth $51.6 Billion by 2030 - Grand View Research, Inc.

Read full market research report for more insights, "Solvent Market Size, Share & Trends Analysis Report, By Type (Alcohols, Hydrocarbons), By Application (Paints & Coatings, Printing Inks, Pharmaceuticals), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research. Read full market research report for more insights, " Solvent Market Size, Share & Trends Analysis Report, By Type (Alcohols, Hydrocarbons), By Application (Paints & Coatings, Printing Inks,...

Read full market research report for more insights, "Solvent Market Size, Share & Trends Analysis Report, By Type (Alcohols, Hydrocarbons), By Application (Paints & Coatings, Printing Inks, Pharmaceuticals), By Region, And Segment Forecasts, 2023 - 2030", published by Grand View Research.

Solvent Market Growth & Trends

The continuously growing demand for organic solvents over chemical based is further propelling the demand glycol ethers and alcohols due to their organic nature. These solvents are manufactured mainly from oil & fats, cellulose, sugars, and agricultural products. Additionally, they are carbon-neutral, non-toxic, and have eco-friendly properties. The increasing VOC emissions and stringent government regulations are forcing manufacturers towards producing bio-based products over chemical ones. For example, in 2018 Circa Group a renewable chemicals company, introduced its bio-based dipolar aprotic solvent and alternative for chemical based solvents such as Dimethylformamide and N-Methyl-2-pyrrolidone to cater to the rising demand for bio-based products.

The chemical-based solvents are expected to hamper the growth of the product market over the forecasted period. They not only affect the environment but also has hazardous impact on the health of animals and human beings. Additionally, the workers who work on regular basis face several health issues due to long exposure to such substances. According to the U.S. Department of Labor, the exposure to solvents in workers leads to toxicity to the nervous system, reproductive damage, liver damage, respiratory impairment, kidney damage, cancer, and dermatitis.

Furthermore, in accordance with the Clean Air Act amendments, the EPA has implemented programmes to reduce VOC and related element emissions that contribute to ozone depletion. The agency has put in place the National Ambient Air Quality Standards (NAAQS) and may sanction areas where manufacturers must adhere to the set of standards. As a result, stringent regulations imposed by the EPA, EU, OSHA, and other regional agencies around the world are expected to impede product market growth.

Solvent Market Segmentation

Grand View Research has segmented the global solvent market on the basis of type, application, and region 

Solvent Market - Type Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

Solvent Market - Application Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030)

Solvent Market - Regional Outlook (Volume, Kilotons; Revenue, USD Million, 2018 - 2030) 

List of Key Players in Solvent Market 

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Browse through Grand View Research's Organic Chemicals Industry Research Reports.

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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