Solvay SA revealed that their oxygenated solvents Augeo Crystal and Hexylene Glycol (HGL) secured the Vegan Trademark. The company will now be advancing its offer of sustainable solutions.
OQ Chemicals GmbH commenced a state-of-the-art pilot plant in Oberhausen, Germany to manufacture small quantities of esters. These esters will be customized as per customer needs and will be used for further assessment.
Author Credits: Smruti Ranjan, Rajrani Baghel
Report ID: 2731
Published Date: Apr 13, 2023
Report Format: PDF, PPT
Frequently Asked Questions (FAQ)
The growing demand for esters which is an oxygenated solvent used in the manufacturing of coatings with the expanding paint & coatings and construction industry is the major factor driving the growth of the market.
The market size of oxygenated solvents is anticipated to attain a CAGR of 7% over the forecast period, i.e., 2023-2035.
The major players in the market are BASF SE, Arkema Group, The Dow Chemical Company, Exxon Mobil Corporation, LyondellBasell Industries N.V., Shell International B.V., Petroliam Nasional Berhad (PETRONAS).
The bio & green solvents segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.
The market in the Asia Pacific region is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.