Oxygenated Solvents Industry - Regional Synopsis
APAC Market Forecast
The market share of oxygenated solvents in Asia Pacific industry is set to hold largest revenue share of 39% by 2037. The increasing advances in urban areas in emerging economies such as China, followed by the escalation in the construction industry in the region are major factors augmenting the oxygenated solvent demand as they are widely used to enhance the effectiveness of paints& coatings, and adhesives. Construction activity in Northeast Asia was estimated to surge by approximately 4.6% to USD 4.88 trillion in 2022, up from USD 4.50 trillion in 2021.
North American Market Statistics
The North America oxygenated solvents market is foreseen to be the second largest, registering a share of about 28% by the end of 2037. The surge in the demand for organic products from various end-use industries including the pharmaceutical, agrochemicals, and beauty product industries especially in the United States is predicted to expand the size of the oxygenated solvents market in the region. As oxygenated solvents are organic solvents that include oxygen molecules, and are processed from chemical reactions from olefins their demand to enhance the efficiency and effectiveness of consumer and industrial products is elevating in developed countries of North America.
