Pharmaceutical Solvent Market

Analysis by Product Type (Alcohol, Amine, Ester, Ether, and Chlorinated Solvents); and by End User (Pharmaceutical, Research Laboratories, Chemical, and Others) – Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

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Report ID: 418 | Published On: Feb 13, 2023
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Global Pharmaceutical Solvent Market Size, Forecast, and Trend Highlights Over 2023 - 2035

The global pharmaceutical solvent market is estimated to garner a revenue of USD 12 Billion by the end of 2035 by growing at a CAGR of ~5% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 8 Billion in the year 2022. The growth of the market is primarily attributed to the increasing demand for pharmaceutical solvents in the manufacturing of drugs, vaccines, medicines, and others. Moreover, the rising sales of pharmaceutical drugs and medicines are expected to propel the demand for pharmaceutical solvents over the forecast period. The total worldwide pharmaceutical sales were estimated at approximately USD 900 billion in 2018 and reached around USD 1500 billion in 2021.

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A pharmaceutical solvent is a chemical substance that is used in the manufacturing of drugs. These solvents serve as a medium for the purification and extraction of specific materials without altering those materials chemically. There are several pharmaceutical solvent market trends, including increasing optimization of solvent use, advanced manufacturing technologies, and growing investments & deals which are expected to fuel the market growth during the forecast period. Moreover, the global pharmaceutical solvent market size is also expected to extend to the increasing aging population around the world. Among the elderly population, more diseases occur and more prescriptions are filled, which increases the demand for medicines and pharmaceutical drugs. According to the World Health Organization, the number of people aged over 60 years was 1 billion in 2019 and is expected to increase to 2.1 billion by 2050.

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Global Pharmaceutical Solvent Market: Key Insight

Base Year


Forecast Year




Base Year Market Size (2022)

~ USD 8 Billion

Forecast Year Market Size (2035)

~ USD 12 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)

Global Pharmaceutical Solvent Market: Growth Drivers and Challenges

Growth Drivers

  • Expansion and Innovation in Chemical Industry - It was observed that the investment in green technology in 2021 reached USD 750 billion, with a significant increase from 2020. Innovations in the chemical industry such as the growing utilization of green chemical processes for drugs and medicines manufacturing are estimated to increase the sales of pharmaceutical solvents during the forecast period.

  • Rise in Exportation of Pharmaceutical Products - It was observed that with a total value of USD 660 billion, pharmaceutical products ranked among the top five global trade products in 2020. The top exporters of pharmaceutical products in 2020 were Switzerland (USD 10%), Germany (USD 14%), Ireland (USD 10%), Belgium (USD 6.5%), and the United States (USD 10%).

  • Globally Rising Healthcare Expenditure - As per the data from World Bank global healthcare expenditures are currently estimated at 9.83% of the GDP (2019).

  • Growth and Expansion of the Pharmaceutical Industry - For instance, the pharmaceutical industry in India is expected to reach approximately USD 60 billion by 2025, and about USD 100 billion by 2031.

  • Rapid Development and Innovation in Generic Drugs - The FDA funded nearly USD 20 million in generic drug science and research programs and issued 149 product-specific guidance (PSGs) about generic drug development.


  • Stringent Regulations on the Use of Solvents in Developed Countries - Regulation in Europe is putting more pressure on manufacturers to replace specific chemicals. Despite being used in relatively modest amounts, they have a significant negative impact on the environment and human health. Therefore, the use of solvents still contributes significantly to volatile organic compound (VOC) emissions. Solvent emissions make up 35% of VOC emissions in the UK. 36 The European Environmental Agency for the European Economic Area revealed higher values of 42%.

  • Highly Volatile Solvents Pose a Transport and Storage Concern

  • Limited Use of Toxic and Hazardous Solvents

The global pharmaceutical solvent market is segmented and analyzed for demand and supply by product type into alcohol, amine, ester, ether, and chlorinated solvents. Out of these, the alcohol segment is anticipated to capture the largest market size in the global pharmaceutical solvent market owing to the extensive use of alcohol as a direct solvent in pharmaceuticals during the forecast period. Further, alcohol is increasingly being used in the manufacturing of over-the-counter (OTC) drugs. OTC drugs are widely consumed, which promotes extensive use of alcohol solvents in their production. A survey found that 2/3 of adults (~65%) and approximately 70% of parents rely on OTC drug medicines to treat their symptoms. Also, almost 80% of physicians consider that over-the-counter medicines play an important role in health care.

Global Pharmaceutical Solvent Market Regional Synopsis

The North America pharmaceutical solvent market, amongst the market in all the other regions, is projected to hold the largest market share by the end of 2035, owing to a large number of developed pharmaceutical industries in the region. Further, increased spending on pharmaceutical research and development is expected to stimulate the use of pharmaceutical solvents in the region. Congressional Budget Office reports that a total of USD 83 billion was spent by the pharmaceutical industry on research and development in 2019. Moreover, the rising sales and demand for pharmaceutical products are projected to propel the demand for pharmaceutical solvents in the region.

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Market Segmentation

Our in-depth analysis of the global pharmaceutical solvent market includes the following segments:

         By Product Type

  • Alcohol
  • Amine
  • Ester
  • Ether
  • Chlorinated Solvents

         By End User

  • Pharmaceutical
  • Research Laboratories
  • Chemical
  • Others

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Top Featured Companies Dominating the Global Pharmaceutical Solvent Market

    • BASF SE

      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Bayer AG
    • Clariant International Ltd
    • Exxon Mobil Corporation.
    • Dow Chemical Company
    • Brenntag SE
    • Pon Pure Chemicals Group
    • Mitsui Chemicals, Inc.
    • LyondellBasell Industries Holdings B.V. 
    • PPG Industries, Inc


In The News

  • Mitsui Chemicals, Inc. formed a new partnership with Mitsui-Soko Holdings which aims to calculate CO2 emissions from the international transportation of products.

  • Clariant International Ltd has finalized an agreement to purchase BASF's U.S. Attapulgite business assets for USD 60 million.

Global Economic Impact

Request Insights
Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the pharmaceutical solvent market?

Ans: Rising pharmaceutical exports along with increasing healthcare expenditures are the major factors driving the growth of the pharmaceutical solvent market.

2) What would be the CAGR of pharmaceutical solvent market over the forecast period?

Ans: The market is anticipated to attain a CAGR of ~5% over the forecast period, i.e., 2023 – 2035.

3) What are the challenges affecting the pharmaceutical solvent market growth?

Ans: Limited use of toxic and hazardous solvents and stringent regulations on the use of solvents is estimated to hamper the growth of the market.

4) Which region will provide more business opportunities for growth of pharmaceutical solvent market in future?

Ans: The market in North America is projected to hold the largest market share by the end of 2035 and provide more business opportunities in the future.

5) Who are the major players dominating the pharmaceutical solvent market?

Ans: The major players in the market are Bayer AG, Clariant International Ltd, Exxon Mobil Corporation., Dow Chemical Company, Brenntag SE, Pon Pure Chemicals Group, Mitsui Chemicals, Inc., LyondellBasell Industries Holdings B.V., and others.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, and the geographical presence of the company which determines the revenue-generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the pharmaceutical solvent market?

Ans: The market is segmented by product type, end user, and by region.

8) Which segment captures the largest market size in product type segment in the pharmaceutical solvent market?

Ans: The alcohol segment is anticipated to garner the largest market size by the end of 2035 and display significant growth opportunities.

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