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(Medical-NewsWire.com, January 18, 2020 ) The report "Oxygenated Solvents Market by Source (Conventional and Bio & Green), Type (Alcohols, Esters, Glycols, Glycol Ethers, Ketones) Application (Paints & Coatings, Pharmaceuticals, Cleaners, and Crop Protection), Region - Global Forecast to 2022", The market size for oxygenated solvents is estimated to grow from USD 22.28 Billion in 2017 to USD 32.27 Billion by 2022, at a CAGR of 7.8%. The growth is driven by the increased demand from applications such as paints & coatings, pharmaceuticals, lubricants, crop protection, and personal care.
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The paints & coatings application segment is projected to lead the oxygenated solvents market from 2017 to 2022.
The paints & coatings segment is projected to lead the oxygenated solvents market during the forecast period. The growth can be attributed to the growth of the end-use industries such as construction and automotive. Oxygenated solvents are also used in paints & coatings to improve the flow and enable quick drying.
The bio & green solvent segment of the oxygenated solvents market is projected to grow at the highest CAGR between 2017 and 2022.
The bio & green solvents segment is projected to grow at the highest CAGR between 2017 and 2022. The growth can be attributed to its usage of renewable sources as raw materials and non-toxic and eco-friendly nature. The bio & green solvents are expected to replace the conventional oxygenated solvents in regions with stringent regulations on VOC emissions.
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Browse in-depth TOC on "Oxygenated Solvents Market”
126 - Market Data Tables
36 - Figures
177 - Pages
Asia-Pacific oxygenated solvents market is projected to grow at the highest CAGR between 2017 and 2022.
The Asia-Pacific oxygenated solvents market is projected to grow at the highest CAGR between 2017 and 2022. China is the largest market for oxygenated solvents in Asia-Pacific. In China and India, the demand for oxygenated solvents is expected to increase during the forecast period due to increasing investments by the private sector in the agriculture, construction, automotive, and pharmaceutical industries.
Key companies profiled in this research report on the oxygenated solvents market include BASF (Germany), The Dow Chemical Company (U.S.), OXEA (Germany), Royal Dutch Shell (Netherlands), ExxonMobil (U.S.), LyondellBasell (Netherlands), Eastman Chemical Company (U.S.), SINOPEC (China), and Petronas (Malaysia).
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