Precision Business Insights has published a report on the global solvents market, estimating its value at USD 25.81 billion in 2024 and is expected to expand at a compound annual growth rate (CAGR) of 6.1% over the forecast period 2025-2031. The report explores the market growth and potential opportunities in the market industry. Additionally, it offers a detailed analysis of how these elements will affect market demand dynamics and market performance throughout the forecast period.

View the detailed report description here - https://www.precisionbusinessinsights.com/market-reports/solvents-market

Solvents are vital compounds that dissolve solids, liquids, and gases, making them indispensable in manufacturing, formulation, and cleaning processes. They are classified as oxygenated solvents (alcohols, ketones), hydrocarbon solvents (aliphatic, aromatic), and halogenated solvents.

Drivers:

• Growth in Pharmaceuticals and Healthcare
• Rapid growth in manufacturing and infrastructure in Asia-Pacific and Latin America is increasing solvent consumption across multiple sectors.

The global solvents market segmentation:

1) By Type: Alcohols, Aliphatic, Aromatic, Glycol Ethers, Ketones, and Others

2) By Source: Bio & Green Solvents, Petrochemical-Based Solvents, and Others

3) By Application: Adhesives, Agricultural chemicals, Metal cleaning, Paints & coatings, Personal care, Polymer manufacturing, Printing inks, and Others

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Regional Overview:
The report also examines the current concerns and their Future Effects on the solvents market by the region. The report covers all regions and countries, North America was the largest and Asia was the fastest-growing region in the solvents market. The market has been segmented into numerous primary regions and a detailed evaluation of primary countries.

• North America (U.S., Canada)
• Europe (Germany, U.K., France, Italy, Russia, Spain, Rest of Europe)
• Asia-Pacific (China, India, Japan, Australia, Southeast Asia, Rest of Asia Pacific)
• Latin America (Mexico, Brazil, Argentina, Columbia, Rest of Latin America)
• Middle East & Africa (GCC, Egypt, Nigeria, South Africa, Rest of Middle East and Africa)

The competitive landscape is dominated by major players like Royal Dutch Shell Plc, Eastman Chemical Company, BASF SE, ExxonMobil Corporation, LyondellBasell Industries Holdings B.V., Ashland Global Holdings Inc., Celanese Corporation, Huntsman Corporation, Solvay SA, Honeywell International Inc., INEOS Group AG, Olin Corporation, Bharat Petroleum Corporation Limited, Chevron Phillips Chemical Company, Reliance Industries Limited

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