High Purity Solvents Market will be worth US$ 75.1 Bn by 2030 and will create an incremental $ opportunity of US$ 35.0 Bn in the next 8 years: Says ChemView Consulting

According to a research survey conducted by ChemView Consulting, in 2022, the Global High Purity Solvents Market was worth US$ 45.4 Bn and is expected to grow at a CAGR of 6.5% over the forecast period. The market is expected to hit US$ 75.1 Bn by 2030 end.

High purity solvents are organic compounds that have been synthetically distilled and have a wide range of industrial applications. They are critical for the laboratory synthesis of complex Grignard processes and enhancing agrochemical and pharmaceutical manufacturing quality. These solvents are also used to manufacture various commercial items, such as deodorants and perfumes.

High Purity Solvents Market 2017-2030: Report Key Highlights:

  • Detailed information on factors that will assist Global High Purity Solvents’ growth during the next eight years
  • Assessment of the historical and current Global High Purity Solvents Market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
  • The growth of the Global Cosmetic Ingredients across North America, Europe, East Asia, South Asia & Pacific, Latin America, Middle East, and Africa
  • Segment-wise, country-wise, and region-wise market analysis
  • Key drivers, restraints, opportunities, and key emerging trends impacting market growth
  • Predictions on critical supply, demand, and technological trends and changes in consumer behavior
  • Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
  • Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
  • Covid-19 impact on the market and how to navigate
  • Strategic market analysis and recommendations on crucial winning strategies

For More Details Visit Our Report Page: https://chemviewconsulting.com/reports/high-purity-solvents-market/

Key Takeaways

By Type: In 2020, the demand for spectrophotometric solvents dominated due to their quick analysis capability, which makes them easy to use and has broadened their application in numerous sectors.

Spectrophotometric grade liquids evaporate with little residue. These solvents are ideal for HPLC devices and spectrometers such as UV-Visible spectrophotometers, infrared spectrophotometers, and mass spectrometers. The use of spectrophotometric grade solvents ensures accurate readings.

By Application: Paints and coatings emerged as the largest solvent consumer, accounting for 62.5% of the market in 2020. Organic solvents are used in paints to dissolve pigments and binders while also providing consistency in application.

It is not only the market leader in solvent applications but is also predicted to be the fastest expanding application over the forecast period.

By Region: In terms of value and volume, the Asia Pacific region is estimated to hold the highest share of the high purity solvents market during the forecast period. In 2020, Asia Pacific accounted for more than 40.0% of the global solvents market.

The Asia Pacific solvents market is predicted to expand primarily due to rising demand for paints and coatings, as well as adhesives and sealants.

Because of the availability of raw materials, low labor costs, and favorable government policies in rising countries such as India, Indonesia, and Thailand, many firms from established nations are relocating their manufacturing operations to the Asia Pacific. Economic growth, expanding population, and increasing urbanization are major market drivers in the Asia Pacific region.

Competition Summary

Because of a significant number of multinational players, the worldwide market is moderately fragmented. These industry companies’ key tactics include long-term partnerships with raw material suppliers to generate economies of scale and, as a result, offer products at very competitive market costs.

Key companies covered in the market study are Exxon Mobil Corporation, BASF SE, Asahi Kasei Corporation, Linde, Thermo Fisher Scientific Inc., High Purity Laboratory Chemicals Pvt. Ltd., Dow, Apchem Pvt. Ltd., Evonik Industries AG, Merck KGaA, Spectrum Chemical Manufacturing Corp., Central Drug House, and Tedia

Segments Covered in Report

By Type:

  • Spectrophotometric Solvents
  • UHPLC and LC/MS Solvents
  • HPLC Solvents
  • GC Solvents
  • Others

By Category:

  • Polar Solvent
  • Non-Polar Solvent

By Application:

  • Liquid Crystal Displays
  • Lithium-Ion Batteries
  • Electroplating
  • Polymer Resins
  • Catalysts
  • Others

By End-User:

  • Pharmaceutical and Biopharmaceutical
  • Chemicals
  • Cosmetics & Personal Care
  • Food & Beverage
  • Agriculture
  • Paints & Coatings
  • Biotechnology
  • Electrical & Electronics
  • Others

By Region and Country:

  • North America (U.S., Canada)
  • Latin America (Brazil, Mexico, Rest of Latin America)
  • Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
  • Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
  • Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
  • Africa (South Africa, Nigeria, Egypt, Rest of Africa)

About ChemView Consulting’s Chemicals & Materials Domain

ChemView Consulting’s chemicals & materials domain provides unique, reliable, and in-depth analysis of the chemicals and materials business with the help of its in-house and experienced analysts and subject matter experts. The comprehensive coverage includes bulk, fine, specialty, petrochemicals, innovative materials, composites, and nanotechnology, focusing on “green alternatives,” recycling, and renewable technology advances. In addition, for developing – “The Future Growth Plan,” our research studies serve as market reference guides for chemical manufacturers, research institutes, channel partners, and government agencies.

About ChemView Consulting

ChemView Consulting is a leading information, market intelligence, and consulting company serving worldwide chemicals & materials, oil & gas, and alternate energy clients. ChemView Consulting serves clients in approximately 100 countries, with its office in the U.S. and delivery centers in India.

What sets ChemView Consulting apart?

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