Global Oxygenated Solvents Market, By Type (Alcohols, Esters, Glycols, Glycol Ethers, Ketones, Bio and Green Solvents, Others), Source (Conventional Solvent, Bio and Green Solvent), Application (Paints and Coatings, Pharmaceuticals, Personal Care, Crop Protection, Lubricants, Cleaners, Others) - Industry Trends and Forecast to 2029.
Oxygenated Solvents Market Analysis and Size
The global oxygenated solvents market is expected to witness significant growth during the forecast period. These are one of the most generally used solvents globally and found in several everyday products used by billions of people worldwide daily. The “bio and green solvents” is the highest growing source segment because of the increasing use of bio and green solvents due to the demand of renewable sources as raw material and their eco-friendly and non-toxic nature. Over the past few years, there has been profitable growth in the paints and coatings sector because of their increased usage across automotive, building and construction, and semiconductor sectors. The paints and coatings sector is prepared to see a seismic change with a rise of production rate which will further flourish the oxygenated solvents market.
Data Bridge Market Research analyses that the oxygenated solvents market is expected to undergo a CAGR of 7.85% during the forecast period. This indicates that the market value, which was USD 29.60 billion in 2021, would rocket up to USD 54.18 billion by 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include in-depth expert analysis, geographically represented company-wise production and capacity, network layouts of distributors and partners, detailed and updated price trend analysis and deficit analysis of supply chain and demand.
Oxygenated Solvents Market Scope and Segmentation
2022 to 2029
2020 (Customizable to 2014 - 2019)
Revenue in USD Billion, Volumes in Units, Pricing in USD
Type (Alcohols, Esters, Glycols, Glycol Ethers, Ketones, Bio and Green Solvents, Others), Source (Conventional Solvent, Bio and Green Solvent), Application (Paints and Coatings, Pharmaceuticals, Personal Care, Crop Protection, Lubricants, Cleaners, Others)
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
Market Players Covered
ExxonMobil Corporation (U.S.), Reliance Industries Limited (India), Marathon Petroleum Corporation (U.S.), Dupont (U.S.), PJSC Lukoil Oil Company (Russia), Valero (U.S.), Shell (UK), Chevron Corporation (U.S.), Honeywell International Inc. (U.S.), Janex S.A (Switzerland), SOLVAY (Belgium), Neste (Finland), Soltex Inc. (U.S.), Hengyi Industries Sdn Bhd (Malaysia), BASF SE (Germany), Ashland Inc., (U.S.), Adrol (U.S.), Koch Engineered Solutions (U.S.), Cosmique Pvt. Ltd. (India)
Oxygenated solvents are those whose chemical structure comprises hydrogen, carbon, and oxygen atoms. The major groups of oxygenated solvents are: esters, alcohols and ketones. Oxygenated solvents used industrially tend to have good solvency power, high purity and are partly or wholly miscible with water. These solvents constitute approx. 60% of the global market and are used in an extensive range of applications.
Global Oxygenated Solvents Market Dynamics
- High usage of oxygenated solvents in Personal Care Products
Oxygenated solvents are used in several cosmetic products as an ingredients and enable them to work correctly. Solvents are used in lotions and shaving creams, powders to offer suitable consistency for the product. Perfume manufacturers use ethanol which is oxygenated solvent because of its low odour. Furthermore, it is also used in nail polish removal fluids because of its high solvency power. The rising demand for cosmetic products increases the oxygenated solvents market.
- Increasing demand of oxygenated solvents in paint and coating sectors
These oxygenated solvents are widely used in the paints and coatings industry because they disperse the components used in formulations to avoid clumps and maintain the desired consistency. This rising demand for paints and coatings for the growing number of commercial and residential buildings due to rising urbanization and population are expected to drive the growth of the oxygenated solvents market.
Furthermore, increasing demand for organic solvent from pharmaceuticals sector, swift industrialization in developed and developing nations are some of the major reason which is expected to drive the demand of oxygenated solvent in the market
- Increased use of bio and green solvents and technological innovations
Increasing introduction of latest equipment and the advanced technologies coupled with the wide application of new systems will create immense opportunities for the major market players during the forecast period of 2022 to 2029. Moreover, the increasing regulatory pressure about bio and green solvents' use will further increase the growth of the oxygenated solvents market.
Also, the mounting requirements of oxygenated solvents from developed and developing countries and economies will further create lucrative opportunities for the growth of the oxygenated solvents market.
- Strict rules associated with the use of oxygenated solvents
Strict government rules and regulations related to the VOC emission will restrain the growth of the oxygenated solvents market. Furthermore, major impact of bio and green solvents on the food security will challenge the oxygenated solvents market.
This oxygenated solvents market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the oxygenated solvents market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Impact and Current Market Scenario of Raw Material Shortage and Shipping Delays
Data Bridge Market Research offers a high-level analysis of the market and delivers information by keeping in account the impact and current market environment of raw material shortage and shipping delays. This translates into assessing strategic possibilities, creating effective action plans, and assisting businesses in making important decisions.
Apart from the standard report, we also offer in-depth analysis of the procurement level from forecasted shipping delays, distributor mapping by region, commodity analysis, production analysis, price mapping trends, sourcing, category performance analysis, supply chain risk management solutions, advanced benchmarking, and other services for procurement and strategic support.
COVID-19 Impact on Oxygenated Solvents Market
In the backdrop of the COVID-19 pandemic, paint and chemical and have shifted their focus toward special paint varieties and hygiene products. Major companies have entered in the competition to upsurge their product portfolio in personal protective equipment (PPE) and sanitizers. The covid-19 pandemic has increase the demand for hygiene paint products so the manufacturers in the oxygenated solvents market are launching paint variants such as anti-bacterial paints and anti-viral which cater to all surfaces, including home walls, wood, and metal. Chemical companies have forayed into the production of cleaning and disinfectants products to meet the demand from consumer.
Expected Impact of Economic Slowdown on the Pricing and Availability of Products
When economic activity slows, industries begin to suffer. The forecasted effects of the economic downturn on the pricing and accessibility of the products are taken into account in the market insight reports and intelligence services provided by DBMR. With this, our clients can typically keep one step ahead of their competitors, project their sales and revenue, and estimate their profit and loss expenditures.
Global Oxygenated Solvents Market Scope
The oxygenated solvents market is segmented on the basis of type, source and application. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
- Glycol Ethers
- Conventional Solvent
- Bio and Green Solvent
- Paints and Coatings
- Personal Care
- Crop Protection
Oxygenated Solvents Market Regional Analysis/Insights
The oxygenated solvents market is analysed and market size insights and trends are provided by country, type, source and application as referenced above.
The countries covered in the oxygenated solvents market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America dominates the oxygenated solvents market in terms of revenue and market share. This is due to the rising demand of oxygenated solvents from cosmetic industry in this region
North America will continue to project the highest growth rate due to the due to the increasing government spending on the pharmaceutical, agricultural, and building and construction sectors in this region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Oxygenated Solvents Market Share Analysis
The oxygenated solvents market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to oxygenated solvents market.
Some of the major players operating in the oxygenated solvents market are:
- ExxonMobil Corporation (U.S.)
- Reliance Industries Limited (India)
- Marathon Petroleum Corporation (U.S.)
- Dupont (U.S.)
- PJSC Lukoil Oil Company (Russia)
- Valero (U.S.)
- Shell (U.K.)
- Chevron Corporation (U.S.)
- Honeywell International Inc. (U.S.)
- Janex S.A (Switzerland)
- SOLVAY (Belgium)
- Neste (Finland)
- Soltex Inc. (U.S.)
- Hengyi Industries Sdn Bhd (Malaysia)
- BASF SE (Germany)
- Ashland Inc., (U.S.)
- Adrol (U.S.)
- Koch Engineered Solutions (U.S.)
- Cosmique Pvt. Ltd. (India)