According to a new report published by Allied Market Research titled, California Industrial Degreasing Solvents Market by Product and End-Use Industry: Global Opportunity Analysis and Industry Forecast, 2020–2027,”
The California industrial degreasing solvents market was valued at $7.1 million in 2019 and is projected to reach $8.9 million by 2027, growing at a CAGR of 2.8% from 2020 to 2027.
Degreasing solvents can be defined as a solvent-based cleaning/degreasing fluid ideal for removing heavy deposits of oil, dirt, grease, and grime from vehicle engines, turbines, lathes, tools, and others. Solvent-base breaks down sludge, oil, and grease with ease. It can be required at any point throughout the production, maintenance, repair, and servicing in industries such as electronics, automotive, and others. Degreasing solvents can be used for numerous applications such as brake and parts cleaning, coil cleaning, heavy duty industrial applications, and others.
The presence of established consumer base such as presence of automotive repairers and manufacturing industries drives the growth of the degreasing solvents market. The California industrial degreasing solvents market is segmented on the basis of product and end-use industry. Depending on product, the market is categorized into oxygenated solvents, halogenated solvents, hydrocarbon solvents, and green solvents. Various end-use industries studied in the California industrial degreasing solvents market include paint, coating, and adhesive manufacturing; other chemical product and preparation manufacturing; pesticide, fertilizer, and other agricultural chemical manufacturing; pharmaceutical and medicine manufacturing; automotive repair and maintenance; basic chemical manufacturing; and others. California industrial degreasing solvents market share is analyzed for all the product types and end-use industries.
On the basis of product, the oxygenated segment garnered the highest market share in 2019 in terms of volume. Based on the end-use industry, automotive repair and maintenance garnered 21.0% in terms of volume in 2019. This is owing to presence of large established consumer base in California.
The California industrial degreasing solvents market analysis covers in-depth information of the major industry participants. The key players operating and profiled in the market include BASF SE, RB Products, Inc., Royal Dutch Shell Plc, Wego Chemical Group, Jayne Products, Keteca Water Works, CRC Industries, Inc., Columbus Chemical Industries, LyondellBasell Industries N.V., Dow Inc., Honeywell International Inc., Arkema, and Eastman Chemical Company
Key findings of the study
- The report outlines the market trends of the California industrial degreasing solvents market of 2019 to understand the prevailing opportunities and potential investment pockets.
- A comprehensive analysis of the factors that drive and restrain the California industrial degreasing solvents market growth is provided in the report
- The qualitative data in this report aims at the market dynamics, California industrial degreasing solvents market trends, and developments in the industry
- The California industrial degreasing solvents market is analyzed from 2019 to 2027
- The California industrial degreasing solvents market size is provided in terms of revenue and volume.
- On the basis of product, the hydrocarbon degreasing solvent segment garnered 31.6% share in terms of revenue.
- On the basis of end-use industry, the other chemical product and preparation manufacturing segment gained 16.5% share in 2019 in terms of volume.
- On the basis of product, the green solvent segment garnered a share 8.6% in 2019 in terms of volume.
- On the basis of end-use industry, the pharmaceutical and medicine manufacturing segment gained 12.4% share in 2019 in terms of revenue.