What is Organic Solvent Market?
Organic solvent, also known as carbon-based solvents, is a chemical capable of dissolving or dispersing one or more other chemical substances. These types of solvents have carbon atoms present in the structure of their compound. These solvents are used regularly in commercial industries for various purposes such as to dissolve substances, to disperse coatings, as media for chemical reactions and as cleaning agents. Organic solvents also regularly used in the manufacturing of pharmaceutical products, footwear, paints, varnishes and adhesives.
The market study is being classified by Type (Aliphatic Hydrocarbons, Cyclic Hydrocarbons, Aromatic Hydrocarbons, Halogenated Hydrocarbons, Ketones, Amines, Esters, Alcohols, Aldehydes and Ethers), by Application (Pharmaceutical Products, Footwear, Paints, Varnishes, Adhesives and Others) and major geographies with country level break-up.
Solvay Chemicals (Belgium), Celanese Corporation (United States), Sasol (South Africa), BASF (Germany), Royal Dutch Shell PLC (Netherlands), Maruzen Petrochemical Co., Ltd. (Japan), DuPont (United States), Huntsman Corporation (United States), Honeywell (United States) and Eastman Chemical Company (United States) are some of the key players profiled in the study.
Research Analyst at AMA predicts that United States Vendors will contribute to the maximum growth of Global Organic Solvent market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Organic Solvent market by Type, Application and Region.
On the basis of geography, the market of Organic Solvent has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Lower Critical Point and Mild Reactions Conditions
- High Demand for Numerous Industrial Applications
Market Trend
- Rise in the Demand for Bio-Based Solvents
Restraints
- High Cost of the Organic Solvents
- Stringent Government Rules and Regulations about Environmental Safety
Opportunities
- Growing Demand from the Pharmaceutical Industry
- Increasing Demand from End-User Industry Including Food Flavoring, Paints, Lubricants Etc.
Challenges
- Organic Solvents React in the Atmosphere in Sunlight Producing Ground-Level Ozone That Seriously Affect Human, Plant and Animal Health
Market Leaders and some development strategies
On 2nd January 2019, Celanese Corporation, a global chemical and specialty materials company, has announced that it has completed the acquisition of Next Polymers Ltd., one of India’s largest engineering thermoplastics (ETP) compounders.
Key Target Audience
Organic Solvent Manufacturers, Research Professionals, Emerging Companies, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user