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(Medical-NewsWire.com, September 18, 2018 ) Industry Trend Analysis:
The organic solvents market was valued as USD 32.12 billion in 2014 and expected to reach USD 47.96 billion by 2023, registering a compound annual growth rate of 4.56%. Solvents in simple terms are defined as a substance which has the capability in dissolving other substances. Organic solvents contains specifically contains carbon compounds. Organic solvents are used mostly used in the manufacturing field and for dry cleaning. They are divided into two categories such as natural and synthetic solvents. Synthetic solvents are those which are prepared by chemical formations and natural solvents are mostly derived from living organisms. As organic solvents find its application in various end users industries, due to which the demand for the product is rising. However its volatile nature of the prime raw material will be challenging factor due to various environmental issues.
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Type Outlook and Trend Analysis:
Based on the type the organic solvents are categorized into hydrocarbons, alcohols, aromatic hydrocarbons, esters, ethers and others. Among the other categories the alcohols have acquired the largest share of the market and will continue to grow at a significant CAGR over the forecast period. Hydrocarbons based solvents will achieve a steady growth in the market because of its high toxicity which can affect the nature or the environment. Furthermore, esters will also have high demand in the market in the near future. Aromatic solvents are widely used in the industrial application as paints, degreasing, adhesives or insecticides.
End User Outlook and Trend Analysis:
Organic solvents are used in wide variety of end user application such as paintings & coatings, cosmetics, pharmaceuticals, electronics and others. Among this the paintings and coatings have acquired the largest share of the market. The major reason behind the growth is water and powdered based paints are being replaced with solvents based paints. Due to the growth of organic solvents in cosmetics, pharmaceutical and electronics are the factor for the growth of the market.
Regional Outlook and Trend Analysis:
Asia-Pacific region has dominated the entire global organic solvent market by acquiring the maximum share across and will continue to grow at a higher compound annual growth rate. The growth in the construction segment across Japan, India, and China are one of the major reasons for the growth in this region. On the other hand regions such as North-America and Europe will acquire steady growth in the market. Rise in industrialization in Qatar and in Saudi Arabia will influence the Middle East regions.
Competition Insights:
The leading competitors in the organic solvents market are ExxonMobil, BASF, Sinopec and Dow Chemical Company. Due to mergers and as new participant have also entered into the market, thus there is rise in the market. The other competitors in this field are Maruzen Petrochemical Co., Shell Chemicals, Celanese Corporation and others.
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The Organic Solvents Market is segmented as follows:
By Type:
Alcohols
Hydrocarbons
Aromatic Hydrocarbons
Esters and Ethers
Others
BY End User:
Paints and Coatings
Pharmaceuticals
Printing Inks
Electronics
Adhesives and Cosmetics
Others
By Regions:
North America
U.S
Canada
Mexico
Europe
Germany
France
UK
Italy
Spain
Rest of Europe
Asia-Pacific
Japan
China
Australia
India
South Korea
Southeast Asia
Rest of Asia Pacific
South America
Brazil
Argentina
Columbia
South Africa
Rest of South America
Middle East and Africa
Saudi Arabia
UAE
Egypt
Nigeria
South Africa
Rest of MEA
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Some of the key questions answered by the report are:
What was the market size in 2014 and forecast from 2015 to 2023?
What will be the industry market growth from 2015 to 2023?
What are the major drivers, restraints, opportunities, challenges, and industry trends and their impact on the market forecast?
What are the major segments leading the market growth and why?
Which are the leading players in the market and what are the major strategies adopted by them to sustain the market competition?
Qurate Business Intelligence
Nehal Chinoy
+919881074592
nehal@qurateresearch.com
Source: EmailWire.Com 
Source: EmailWire.com
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