Home > Chemicals & Materials > Specialty Chemicals > Custom Synthesis > Industrial Solvents Market

Industrial Solvents Market Share

Report ID: GMI2706
Published Date: Oct 2024
Report Format: PDF

Download Free Sample

Industrial Solvents Market Share

Companies include, Shell, BASF, Arkema, and Honeywell have made significant contributions to the industrial solvents industry, focusing on innovation, sustainability, and performance enhancement. Shell has invested in developing bio-based solvents, aligning with the growing demand for environmentally friendly options.

BASF is known for its extensive portfolio of high-performance solvents that cater to diverse applications while emphasizing VOC reduction. Arkema has pioneered the use of specialty solvents, such as waterborne and low-VOC formulations, enhancing safety and environmental compliance across industries. Honeywell has introduced advanced solvent recovery technologies, enabling manufacturers to recycle solvents effectively, thus reducing waste and operational costs. Together, these companies are driving advancements in solvent technology, promoting sustainable practices, and responding to evolving regulatory standards, positioning themselves as leaders in a competitive market.

Industrial Solvents Market Companies

Top companies operating in the industrial solvents industry include:

Arkema
BASF SE
British Petroleum Plc
Cargill Inc.
DowDupont
ExxonMobil
Honeywell International Inc.
INEOS
Industrial Solvents & Chemicals Pvt. Ltd.
LG Chem
LyondellBasell Industries
MARUZEN PETROCHEMICAL CO., LTD.
Sasol
Shell
Total

Authors: Kiran Pulidindi, Manish Verma

Frequently Asked Questions (FAQ) :

The global market size for industrial solvents was valued at USD 26 billion in 2023 and is estimated to grow at a 3.6% CAGR from 2024 to 2032, driven by increasing demand in the paints & coatings, printing inks, and cosmetics industries.

The industrial solvents industry from oxygenated solvents segment is projected to capture USD 20.8 billion by 2032, demonstrating a 3.9% CAGR, due to their extensive use in paints, inks, pharmaceuticals, and cosmetics.

The U.S. market is projected to achieve USD 7.2 billion by 2032, with a CAGR of 5.5% from 2024 to 2032, driven by increased disposable income and expenditure on cosmetic products.

Top companies operating in the industrial solvents industry include Arkema, BASF SE, British Petroleum Plc, Cargill Inc., LyondellBasell Industries, MARUZEN PETROCHEMICAL CO., LTD., Sasol, Shell, and Total.