Allied Market Research

2024

Oxygenated Solvents Market

Oxygenated Solvents Market Size, Share, Competitive Landscape and Trend Analysis Report by Source, by Type and by Application : Global Opportunity Analysis and Industry Forecast, 2023-2032

MC : Renewable, Speciality and fine chemicals

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Author's: | Eswara Prasad
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Oxygenated solvents are made by distilling chemical components, which aid in the creation of balance and consistency between elements in the final product. Organic solvents that contain oxygen in their molecules are known as oxygenated solvents. Oxygenated solvents are known for their extremely high purity rate due to the critical solvent refining operations that minimize surplus water and particulate matter that occurs during various stages of manufacturing. There are several different types of oxygenated solvents in the market. Ketones, glycols, alcohols, glycol ethers, esters and other compounds fall in this category. Personal care items, paints and coatings, pharmaceuticals and other applications use oxygenated solvents extensively. They are also used in a variety of formulations as diluents and for chemical synthesis. Oxygenated solvents are generally more expensive than hydrocarbons. As a result, combinations are made wherever possible to save money. They do, however, have a higher solubility and are used as active solvents in the majority of synthetic resins. They are an exceptionally essential group of solvents for the paints and coatings industry because of their high solvency and wide range of volatilities.

COVID-19 Impact analysis

  • The oxygenated solvents market was negatively affected due to the outbreak of COVID-19 pandemic.
  • The industries such as paints & coatings, pharmaceuticals, personal care, crop protection, lubricants, food and beverages, cosmetics and others were shut down during the COVID-19 pandemic this decreases the demand for oxygenated solvents.
  • The COVID-19 pandemic has caused the imposition of lockdown due to which the production of oxygenated solvents decreased and the global supply chain was affected.
  • The oxygenated solvents market faced downfall of revenue due to the COVID-19 pandemic. 

Top Impacting Factors

The expanding construction sector in developing regions such as the Middle East, Asia-Pacific and elsewhere other region is driving the demand for paints and coatings, which will drive the use of oxygenated solvents in the near future. The expansion of the construction sector in the region is mostly due to rapid urbanization, smart city projects, and the renovation of existing structures. The California Air Resources Board (CARB), the US Environmental Protection Agency (EPA), and the Ozone Transport Commission (OTC), among others, are attempting to set rigorous limitations on the concentration of volatile organic compounds (VOCs) in industrial and architectural preservation coatings. Manufacturers are likely to face significant hurdles as a result of these environmental laws. Manufacturers of oxygenated solvents are attempting to develop environmentally friendly, cost-effective solvents.

These oxygenated solvents are non-volatile organic compound free, non-flammable, and have a low toxicity. Traditional solvents, such as N-Methylpyrrolidone, can be replaced with environmentally friendly oxygenated solvents.

These green alternative solvents can be used for a variety of tasks, including degreasing, paint stripping and cleaning.

Market Trends

  • Due to the consistent rise of end-use industries in developed countries such as the Germany, United States, Europe and North America are expected to see moderate growth in the oxygenated solvents market.
  • The Middle East and Africa are likely to have a minor part of the market. However, due to forthcoming development projects, it is expected that the region would grow at a high rate over the forecast period.
  • Over the next decade, Latin America's market is predicted to rise slowly.

To increase their market presence and share, key market participants in the oxygenated solvents sector are pursuing tactics such as mergers and acquisitions, strategic partnerships, collaborations, and R&D investments.

Key Benefits of the Report

  • This study presents the analytical depiction of the oxygenated 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 oxygenated solvents market share.
  • The current market is quantitatively analyzed to highlight the oxygenated solvents market growth scenario.
  • Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market. 
  • The report provides a detailed oxygenated solvents market analysis based on competitive intensity and how the competition will take shape in coming years.

Oxygenated Solvents Market Report Highlights

Aspects Details
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By Source
  • Conventional solvents
  • Bio solvents
  • Green solvents
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By Type
  • Alcohols
  • Esters
  • Glycols
  • Glycol Ethers
  • Ketones
  • Bio & Green Solvents
  • Others
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By Application
  • Paints & Coatings
  • Pharmaceuticals
  • Personal Care
  • Crop Protection
  • Lubricants
  • Foods and Beverages
  • Cosmetics
  • Others
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By Region
  • Asia-Pacific  (China, India, Japan, South Korea, Rest of Asia-Pacific)
  • North America  (United States, Canada, Mexico)
  • Europe  (Germany, United Kingdom, France, Italy, Rest of Europe)
  • South America  (Brazil, Argentina, Rest of South America)
  • Middle-East and Africa  (Saudi Arabia, South Africa, Rest of Middle-East and Africa)
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Key Market Players

Eastman Chemical Company, Petroliam Nasional Berhad, BASF, OXEA, Arkema Group, Royal Dutch Shell, The Dow Chemical Company, Petronas, Lneos, SINOPEC, LyondellBasell, ExxonMobil

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Oxygenated Solvents Market

Global Opportunity Analysis and Industry Forecast, 2023-2032