Organic Solvents Market Analysis 2020-2027:
Organic solvent, also known as carbon-based solvents, refers precisely to a chemical compound, which is used to absorb other substances or solutes without chemically developing them. These solvents are carbon-based and have carbon atoms embedded in their compound structure. They can be classified into both natural and synthetic solvents. Natural solvents are extracted from living organisms, and to produce synthetic solvents, they require chemical reactions from other compounds. They are applicable in many industries, notably cosmetics, pharmaceuticals, inks, adhesives, coatings, and paints. Moreover, they enable the solute in paints, other coatings, and inks to be spread over a surface. The solvent eventually evaporates, leaving behind only the solutes.
Key drivers of global organic solvents market
Increase in demand for solvents in the construction industry, medical use, and raised use across various applications such as printing inks, adhesives, sealants, and pharmacy is expected to fuel the growth of the global organic solvent market. In addition, rise in regulatory demand for the use of organic solvents, which are environmentally sustainable in nature, serves as a key growth factor of the global market. Moreover, rapid industrialization and rise in production set-up and investment from different countries boost the demand for organic solvents, which significantly contribute toward the overall growth of the market.
Market scenario: opportunities and challenges
Organic solvents are chemical substances based on the carbon molecular structure, which are used to dissolve material to remove one material from another and to create a solution. Hence, they are used for diverse application in research, industrial, and domestic industries. Development of the end-use industries such as pharmaceuticals, electronics, and cosmetics along with manufacturers shift in preference to renewable resources is expected to create lucrative opportunity for the expansion of the global organic solvents market. However, various health risks and environmental concerns associated with solvent are the factors that restrain the growth of the market, globally.
COVID-19 scenario analysis
Owing to the outbreak of the COVID-19 pandemic, the global organic solvents market is expected to witness a slowdown during the next couple of years. Governments of various countries have implemented lockdown, which has led to shutdown of factories in scores of cities and provinces across the world, thus leading to predictions of a sharp slowdown in the output of anything from commercial to industrial sector. Decline in growth of the cosmetic industry has negatively impacted electronics industry. This has consequently led to decrease in demand for organic solvent. In addition, market players are dealing with missing sales and disrupted supply chains as production activities are shutdown. On the contrary, some of the industries that have positive impact due to the outbreak of COVID-19 are pharmaceutical and medical, as the demand for organic solvents is expected to increase from the pharmaceutical and the medical industries.
Key benefits of the report
- This study presents the analytical depiction of the global organic solvents industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global organic solvents market share.
- The current market is quantitatively analyzed to highlight the global organic solvents market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed market analysis depending on competitive intensity and how the competition will take shape in coming years.
Questions answered in the global organic solvents market research report
- Which are the leading market players active in the global organic solvents market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What are the projections for the future that would help in taking further strategic steps?
Organic Solvents Market Report Highlights
Key Market Players
Honeywell, Sinopec, LyondellBasell, ExxonMobil, Solvay, Huntsman, Ineos, Eastman Chemical Company, Shell Chemicals, BioAmber