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CHEMICALS AND ADVANCED MATERIALS

Oxygenated Solvents Market Segmentation By Type (Alcohols, Glycols, Esters, Ketones, Glycol Ethers, and Others); By Source (Conventional and Bio & Green Solvent); By Application (Paints & Coatings, Pharmaceuticals, Cleaners, Cosmetics, and Others) - Global Demand Analysis & Opportunity Outlook 2028

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Extensive insights into the Growth of Oxygenated Solvents Market amidst COVID-19

Before we witness the stabilization of economic growth in Europe and North America, Asia Pacific is estimated to bounce back progressively with countries such as China, India, South Korea and Japan witnessing more opportunities to recover from the losses sustained during COVID-19.

Being the biggest market in Eastern Europe, Russia is estimated to take the lowest hit, offering a sigh of relief to the businesses operating in the country. Whereas, GCC is estimated to observe low investments due to the sliding prices of crude oil.

We evaluate the strategies and commitment of the Giant Players in the market towards creating products and services that customers value and rely on.

In an attempt to control and eliminate the surge of coronavirus cases and meet the demand for required medical devices along with providing efficient medical services, there is a drastic shift of investments from authoritative bodies towards the healthcare sector. Where the aftermath of this pandemic may take years to be measured, Research Nester estimates notable expansion of e-health, gaming, and media and entertainment industries till the whole situation is contained and the plan of action for the recovery process is determined. There is an estimated probability of the growth in businesses going back a year if the condition is controlled in the next 2-3 months.                                                         Request Insights

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IN THE NEWS

June 17, 2020: Dow, a world leader in materials science, announced their new commitments in the form of new sustainability targets, keeping both the current climate change and plastic waste in mind, to become the supreme advanced, customer-centric, inclusive, and ecological materials science company across the globe.

June 9, 2020: In a joint collaboration, BASF SE and ExxonMobil introduced a new amine gas treating technology – OASE sulfexx, which is aimed at helping petroleum refiners and gas processors in order to meet future regulatory necessities, lesser operating costs, and increased capacity. It selectively eliminates hydrogen sulfide, while reducing co-absorption of carbon dioxide from the gas streams.

Oxygenated Solvents Market Overview

Oxygenated solvents are organic solvents whose chemical assembly contains oxygen atoms. These solvents are created through chemical reactions from olefins, providing us the sub-groups of alcohols, ketones, esters, ethers, glycol ethers, and others. Oxygenated solvents are branded for their considerably high rate of purity on account of the critical solvent refinement processes which remove excess water and particulate matter, occurring in several stages of production. These solvents are widely used in numerous applications, such as paints & coatings, personal care products, pharmaceuticals, among others. They are also employed as diluents besides for chemical synthesis in different types of formulations.

Market Size and Forecast

The oxygenated solvents market is expected to observe an attainable high CAGR during the forecast period, i.e., 2020-2028. The market is segmented by type, source, application, and region. Among product source, the conventional segment is accounted for the major share as they are more readily available and are also available in developing nations, where the demand is soaring and regulations are very low. The bio & green segment on the other hand is expected to witness a remarkable boost in the much-developed countries owed to stringent environmental protocols, more awareness about green substitutes, and greater capacity to purchase.

Growth Drivers

Rising demand for oxygenated solvents in various end-use industries

Rapid industrial development in developed and developing nations coupled with increasing demand for organic solvent from the pharmaceutical industry are key attributes boosting the market growth of the global oxygenated solvents. The biggest demand has been observed in the Asia-Pacific region, specifically in the developing nations owed to huge industrial and construction projects taking place.CLICK TO DOWNLOAD SAMPLE REPORT

Furthermore, the burgeoning cosmetic industry in developed nations, which has increased their utilization of oxygenated solvents, owing to low toxicity property is another end-use industry supporting the growth.

Additionally, the booming agronomy segment in developing countries and the wide application of oxygenated solvents in the protection of crops is another aspect likely to support the growth of the global market.

Innovational Advancements

Manufacturers in the field of oxygenated solvents are operating upon the development of green solvents which are also cost-effective. These oxygenated solvents are non-flammable, non-VOC, and also have low toxicity which makes them a superb alternative to the traditional solvents. These green alternative solvents can be consumed in various applications, which include paint stripping, cleaning, degreasing, and others.

Restraints

Environment protectors

Several organizations, such as the U.S. Environmental Protection Agency (EPA), California Air Resources Board (CARB) and Ozone Transport Commission (OTC), and many other small scale organizations are working to set preventive limits on Volatile Organic Compounds (VOCs) present in industrial and architectural maintenance coatings. These conservational regulations are anticipated to be one of the key challenges for manufacturers.

Market Segmentation

Our in-depth analysis of the oxygenated solvents market includes the following segments:

By Type

  • Alcohols
  • Glycols
  • Esters
  • Ketones
  • Glycol Ethers
  • Others

By Source

  • Conventional
  • Bio & Green Solvent

By Application

  • Paints & Coatings
  • Pharmaceuticals
  • Cleaners
  • Cosmetics
  • Others

By Region

Geographically, the oxygenated solvents market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region.

North America and Europe are projected to observe a moderate growth in the oxygenated solvents market owed to the sturdy growth of the end-use industries in developed countries, such as the U.S. and Germany. Additionally, growing demand from the cosmetic industry, the occurrence of dominant players operating in the countries, and rising merger and acquisition undertakings among regional and international players is anticipated to further sustain the growth of the target market in these regions.

Oxygenated solvents demand is distinctly evident in the Asia Pacific region, where increasing economic prosperity is hosting new opportunities for manufacturers and tremendous openings are coming up in the distribution of the oxygenated solvents market. Rapid advances in urban areas, smart city projects, and revamp of aging structures are the main reasons responsible for the growth of the construction business in the region. Owing to all these factors, Asia-Pacific is expected to witness the fastest growth during the forecast period.

The oxygenated solvents market is further classified based on region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis
  • the Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of the Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis

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