DUBLIN, December 1, 2017 /PRNewswire/ --
The "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" report has been added to Research and Markets' offering.
The oxygenated solvents market is estimated to grow from USD 22.28 Billion in 2017 to USD 32.27 Billion by 2022, at a CAGR of 7.8%.
An oxygenated solvent contains oxygen molecule,with high solvency and low toxicity. These solvents are widely used in paints, inks, pharmaceuticals, perfumes, adhesives, cosmetics, detergents, and food processing. Alcohols,glycols, glycol ethers, ketones,bio & green sovlents and esters are the major types of oxygenated solvents.
By source, the bio & green solvents segment of the market is projected to grow at the highest CAGR during the forecast period. The growth is attributed to the increased use of bio & green solvents due to the use of renewable sources as raw material and their non-toxic and eco-friendly nature.
The alcohol solvents segment is estimated to be the largest, in terms of volume during the forecast period. The growth of this segment is attributed to the relatively low cost and high dissolution power alcohol solvents.
Asia-Pacific accounted for the largest share of the oxygenated solvents market in 2016. The increased demand for oxygenated solvents in Asia-Pacific can be attributed to the shifting of the manufacturing sector from developed economy to the region. Moreover, the increasing government spending on the agricultural, pharmaceutical, and building & construction sectors in the region is also expected to fuel the growth of the market during the forecast period.
The bio & green solvents are environment friendly and may hamper the demand for the conventional oxygenated solvents.
The key players in the market include BASF (Germany), OXEA (Germany), LyondellBasell (Netherlands), SINOPEC (China), Eastman Chemical Company (U.S.) and The Dow Chemical Company(U.S.).
Market Dynamics
Drivers
- Drivers for Conventional Solvent
- Growing Applications of Oxygenated Solvents
- Drivers for Bio & Green Solvents
- Increasing Environmental Regulations to Reduce Vocs
Restraints
- Restraints for Conventional Oxygenated Solvents
- High Voc Emission By Conventional Oxygenated Solvents
- Solvent Recycling Technology Affecting the Demand for New Solvents
- Restraint for Bio & Green Solvents
- Cost And Performance Issues
Opportunities
- Opportunities for Conventional Solvents
- Growing Demand for Conventional Oxygenated Solvents in Emerging Economies
- Lower Crude Oil Prices
- Opportunities for Bio & Green Solvents
- Improving Economies of Scales Due to High Demand
Challenges
- Impact of Bio & Green Solvents On Food Security
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
5 Market Overview
6 Oxygenated Solvents Market, By Source
7 Oxygenated Solvents Market, By Type
8 Oxygenated Solvents Market, By Application
9 Oxygenated Solvents Market, By Region
10 Competitive Landscape
11 Company Profiles
- Arkema Sa
- Basf
- Celanese Corporation
- China Petroleum & Chemical Corporation (Sinopec)
- Eastman Chemical Company
- Exxonmobil
- Formosa Plastics Group
- Huntsman Corporation
- Ineos
- Jilin Xingyun Chemical Co., Ltd.
- Lg Chem Ltd.
- Lyondellbasell
- Mitsubishi Chemical Corporation
- Mitsui Chemicals, Inc.
- Monument Chemical Inc.
- Nan Ya Plastic Corp.
- Oxea Gmbh
- Petrochina Sichuan Petrochemical Company
- Petroliam Nasional Berhad (Petronas)
- Reliance Industries
- Royal Dutch Shell
- Sasol Sa
- Solvay Sa
- The Dow Chemical Company
- Vertec Biosolvents
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