Oxygenated Solvents Market
Development in ventures like paints and coatings, drugs, individual consideration, ointments, and harvest security is projected to drive the oxygenated solvents market across the globe. Gainful properties, such as low poisonousness and high dissolvability power are likewise boosting the oxygenated solvents market. Nonetheless, execution of guidelines on VOC outflows is required to control the oxygenated solvents market. Oxygenated dissolvable is a natural dissolvable, which contains oxygen particles. It is widely utilized in paints, drugs, inks, aromas, glues, beautifying agents, cleansers, food, agrochemicals, and cleaning items. Oxygenated solvents incorporate alcohols, glycol ethers, methyl acetic acid derivation, ethyl acetic acid derivation, ketones, esters, and glycol ether/esters. They can likewise be utilized for substance blend. Besides, they can be utilized as diluents, coupling specialists, or other practical added substances in different sorts of definitions.
The bio and green dissolvable sector is likely to extend rapidly, attributed to the use of sustainable sources as crude materials. Bio and green solvents are assessed to supplant regular oxygenated solvents in locales with rigid guidelines on VOC discharges. Notwithstanding, this can be accomplished through diminished expense of solvents. The traditional solvents section is expected to extend at high speed in non-industrial nations like India and Indonesia, wherein there is absence of guideline, attributable to the generally minimal expense of solvents.
Oxygenated solvent is an organic solvent, which contains oxygen molecules. It is extensively used in paints, pharmaceuticals, inks, fragrances, adhesives, cosmetics, detergents, food, agrochemicals, and cleaning products. Oxygenated solvents include alcohols, glycol ethers, methyl acetate, ethyl acetate, ketones, esters, and glycol ether/esters. They can also be used for chemical synthesis. Furthermore, they can be employed as diluents, coupling agents, or other functional additives in various types of formulations.
Growth in industries such as paints & coatings, pharmaceuticals, personal care, lubricants, and crop protection is expected to drive the oxygenated solvents market across the globe. Beneficial properties such as low toxicity and high solvency power are also boosting the oxygenated solvents market. However, implementation of regulations on VOC emissions is expected to restrain the oxygenated solvents market during the forecast period.
Based on source, the oxygenated solvents market can be segmented into conventional solvents and bio & green solvents. In terms of product type, the market can be divided into alcohols, glycol ethers, acetates, glycol ether acetates, ketones, esters, aldehydes, and others. Based on key property, the oxygenated solvents market can be segregated into coupling agent, floatation froth building blocks, and shrinkage reduction admixture. In terms of end-user industries, the market can be split into automotive & transportation, building & construction, chemical & plastic, consumer goods, food & agrochemicals.
The bio & green solvent segment is expected to expand at a rapid pace in the near future. This growth can be ascribed to the usage of renewable sources as raw materials. Bio & green solvents are estimated to replace conventional oxygenated solvents in regions with stringent regulations on VOC emissions. However, this can be achieved through reduced cost of solvents. The conventional solvents segment is anticipated to expand at fast pace in developing countries such as India and Indonesia, wherein there is lack of regulation, owing to the relatively low cost of solvents.
In terms of region, in Asia Pacific, North America and Western Europe, the most number of major industries are located which are related to the applications of oxygenate solvents. Demand for oxygenated solvents is high in China and India. Asia Pacific has become the largest importer of oxygenated solvents. The oxygenated solvents market in the region is likely to expand at a fast pace, primarily driven by the high GDP growth rate and rising population with higher disposable income. Demand for personal care products and paints & coating agents is high which in turn leading to high demand for oxygenated solvents in the North America and Europe.
Key players operating in the oxygenated solvents market include BASF (Germany), OXEA (Germany), The Dow Chemical Company (the U.S.), ExxonMobil (the U.S.), Eastman Chemical Company (the U.S.), ARKEMA (France), Royal Dutch Shell (the Netherlands), lyondellbasell (the Netherlands), SINOPEC (China), and PETRONAS (Malaysia).
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The following regional segments are covered comprehensively:
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- Asia Pacific
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The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
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