A new research study has been recently added by Transparency Market Research to its vast collection of market intelligence reports. The study, titled “Solvent Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025,” offers a detailed overview of the market. The key segmentation, regional outlook, and the competitive landscape of the global solvent market have been discussed in the scope of the study. In addition to this, the growth prospects, opportunities, challenges, and the current trends in the market have been mentioned in the length of the research report. A list of the leading players have also been provided in the market research study.
A significant rise in the demand for conventional solvents in the automotive and construction industries is considered as one of the major factors estimated to accelerate the growth of the global solvent market in the coming years. In addition to this, the growing demand for solvents from the chemicals and agriculture sectors is another factor predicted to encourage the overall growth of the market in the near future. The reducing cost of crude oil is another key factor driving the global solvent market.
On the other hand, the rising preference of consumers towards bio-green alternatives as they are non-VOC and less reactive in nature is considered as one of the key restraint, which is likely to curtail the growth of the overall market in the coming years. Nonetheless, the rising number of opportunities by developing nations, such as China and India is projected to accelerate the growth of the global solvent market in the coming years.
The global solvent market has been classified on the basis of geography into Europe, North America, the Middle East and Africa, Latin America, and Asia Pacific. Among these, Asia Pacific is expected to witness significant growth throughout the forecast period. The high growth of this region can be attributed to the rapid urbanization and tremendously rising population. According to the research study, this region is likely to maintain its leading position in the coming years. The share and growth rate of the key segments have been provided in the research study.
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The global market for solvents is competitive in nature and is expected to remain in the similar scenario throughout the forecast period. The increasing number of players is predicted to enhance the competitive scenario of the overall market in the coming years. Some of the leading players operating in the solvent market across the globe are BASF SE (Germany), Royal Dutch Shell Plc (Netherlands), Huntsman Corporation (U.S.), The Dow Chemical Company (U.S.), and Celanese Corporation (U.S.). These players are focusing on research and development activities in order to expand their product horizon and attain a leading position across the globe. In addition, the mergers and acquisitions and strategic collaborations are expected to contribute significantly towards the growth of the overall market in the near future.