Market Size of Oxygenated Solvents Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
CAGR | 7.00 % |
Fastest Growing Market | Asia Pacific |
Largest Market | Asia Pacific |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Oxygenated Solvents Market Analysis
The market for oxygenated solvents is expected to register a CAGR of over 7% during the forecast period. The major factors driving the growth of the market studied include its growing applications across various end-user industries. On the flip side, unfavorable conditions arising due to the COVID-19 outbreak have been hindering the growth of the market studied.
- The paints and coatings segment is predicted to be the largest application of oxygenated solvents over the forecast period. It is used to maintain the desired consistency and flow characteristics of paints and coatings.
- The Asia-Pacific region is expected to be the largest market for the oxygenated solvents, owing to the growing consumption from countries, such as China, India, and Japan.
Oxygenated Solvents Industry Segmentation
The oxygenated solvents market report includes:
Type | |
Alcohols | |
Ketones | |
Glycols | |
Esters | |
Other Types |
Application | |
Paints and Coatings | |
Pharmaceuticals | |
Cleaning Products | |
Cosmetics | |
Agriculture | |
Other Applications |
Geography | |||||||
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Oxygenated Solvents Market Size Summary
The oxygenated solvents market is poised for significant growth, driven by its expanding applications across various end-user industries, particularly in paints and coatings. These solvents play a crucial role in maintaining the desired consistency and flow characteristics of paints, preventing clumping and ensuring smooth application. Despite challenges posed by the COVID-19 pandemic, the market is expected to experience a robust growth trajectory. The Asia-Pacific region is anticipated to be the largest market, fueled by increasing consumption in countries like China, India, and Japan, where the demand from the construction and pharmaceutical sectors is particularly strong.
The market landscape is characterized by a degree of fragmentation, with key players such as BASF SE, Exxon Mobil Corporation, Eastman Chemical Company, Arkema, and Royal Dutch Shell Plc actively participating. The paints and coatings segment is projected to remain the dominant application for oxygenated solvents, supported by the ongoing expansion of the construction industry and the rising demand for cosmetics in the Asia-Pacific region. As these solvents continue to be integral in adjusting the viscosity and curing properties of paints, their market presence is expected to grow, aligning with the broader industrial trends and economic developments in the region.
Oxygenated Solvents Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Drivers
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1.1.1 Growing Applications across Various Industries
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1.1.2 Other Drivers
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1.2 Restraints
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1.2.1 Unfavourable Conditions Arising due to the COVID-19 Outbreak
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1.2.2 Other Restraints
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1.3 Industry Value Chain Analysis
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1.4 Porter's Five Forces Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Degree of Competition
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Alcohols
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2.1.2 Ketones
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2.1.3 Glycols
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2.1.4 Esters
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2.1.5 Other Types
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2.2 Application
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2.2.1 Paints and Coatings
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2.2.2 Pharmaceuticals
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2.2.3 Cleaning Products
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2.2.4 Cosmetics
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2.2.5 Agriculture
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2.2.6 Other Applications
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2.3 Geography
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2.3.1 Asia-Pacific
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2.3.1.1 China
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2.3.1.2 India
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2.3.1.3 Japan
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2.3.1.4 South Korea
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2.3.1.5 Rest of Asia-Pacific
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2.3.2 North America
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2.3.2.1 United States
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2.3.2.2 Canada
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2.3.2.3 Mexico
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2.3.3 Europe
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2.3.3.1 Germany
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2.3.3.2 United Kingdom
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2.3.3.3 France
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2.3.3.4 Italy
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2.3.3.5 Rest of Europe
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2.3.4 South America
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2.3.4.1 Brazil
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2.3.4.2 Argentina
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2.3.4.3 Rest of South America
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2.3.5 Middle East & Africa
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2.3.5.1 Saudi Arabia
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2.3.5.2 South Africa
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2.3.5.3 Rest of Middle East & Africa
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Oxygenated Solvents Market Size FAQs
What is the current Oxygenated Solvents Market size?
The Oxygenated Solvents Market is projected to register a CAGR of greater than 7% during the forecast period (2024-2029)
Who are the key players in Oxygenated Solvents Market?
BASF SE, Exxon Mobil Corporation , Eastman Chemical Company, Royal Dutch Shell plc and Arkema Group are the major companies operating in the Oxygenated Solvents Market.