(MENAFN- IMARC Group)
IMARC Group, a leading market research company, has recently releases a report titled“ Sodium Silicate Market Report by Type (Liquid, Solid), Grade (Neutral, Alkaline), Form (Crystalline, Anhydrous), Application (Detergent, Paints, Adhesives, Catalyst, Refractories, Tube Winding, and Others), End User (Pulp and Paper, Construction, Automotive, and Others), and Region 2024-2032. ” The study provides a detailed analysis of the industry, including the global solvent industry size, report, share, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the s olvent m arket?
The global sodium silicate market size reached US$ 7.9 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 11.4 Billion by 2032, exhibiting a growth rate (CAGR) of 4.1% during 2024-2032.
What is
Solvent ?
A solvent can dissolve other substances, known as solutes, forming a homogeneous mixture known as a solution. It is highly effective in removing dirt, oils, greases, and other contaminants from surfaces, which makes it valuable in cleaning applications, ranging from degreasing machinery to spot-cleaning fabrics. It improves the consistency, viscosity, and stability of formulations like paints, coatings, and adhesives. It contributes to the stability of formulations by preventing the separation of components and maintaining a consistent mixture. It is also utilized in extraction processes to separate valuable compounds from natural sources. Besides this, it is employed in the extraction of essential oils, flavors, and fragrances from plants. It is widely used in various industries, including chemical, pharmaceuticals, and manufacturing.
Solvent Market
Trends and Industry Demand:
Rapid urbanization and the increasing reliance of several industries, such as chemical, pharmaceutical, automotive, and electronics, on solvents for various manufacturing and cleaning processes, represent one of the primary factors contributing to the market growth. Additionally, the expanding global population and the increasing construction of residential and commercial buildings are driving the demand for propane. Along with this, the rising utilization of propane in paint and coating formulations is offering a favorable market outlook. Apart from this, the implementation of stringent environmental regulations and the growing need for sustainable practices are leading to the development of eco-friendly solvents. Furthermore, continuous technological advancements are leading to the development of high-performance solvents tailored to specific applications. These innovations are expanding the potential uses of solvents in various industries.
Moreover, the rising focus on reducing reliance on fossil fuels is driving the demand for bio-based solvents derived from renewable resources. Moreover, the widespread use of solvents in the pharmaceutical industry is strengthening the growth of the market. Solvents are widely used in drug formulation and manufacturing processes. Besides this, the escalating demand for solvents with exceptional performance characteristics is influencing the market positively. In addition, several manufacturers are developing customized solvent formulations to meet the unique requirements of different industries, enhancing their market competitiveness.
Along with this, the widespread adoption of digital technologies and automation in manufacturing processes is creating a positive outlook for the market. These advancements improve efficiency and quality control in solvent-related processes. Furthermore, the rising collaborative research activities between industry players, academic institutions, and government agencies are driving innovation in solvents. These partnerships are leading to the development of novel solvent solutions.
Moreover, the rising need for increased food production is catalyzing the demand for agricultural chemicals. Solvents find applications in the formulation of pesticides, herbicides, and fertilizers in the agricultural sector. Apart from this, the increasing reliance of the renewable energy sector on solvents to produce solar panels, wind turbine blades, and energy storage systems is propelling the market growth.
Request for a sample copy of this report:
Who are the leaders in the s olvent
market?
Archer-Daniels-Midland Company Ashland Inc. BASF SE Bharat Petroleum Corporation Limited bp p.l.c. Celanese Corporation Dow Inc. Eastman Chemical Company Exxon Mobil Corporation Honeywell International Inc. Huntsman Corporation LyondellBasell Industries N.V. Royal Dutch Shell plc Sasol Limited Solvay S.A.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
Alcohols Hydrocarbons Ketones Esters Chlorinated Others
Breakup by Source:
Petrochemical-based Bio and Green
Breakup by Application:
Paints and Coatings Printing Inks Pharmaceuticals Cosmetics and Adhesives Others
Breakup by Region:
North America: (United States, Canada) Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others) Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others) Latin America: (Brazil, Mexico, Others) Middle East and Africa
Key highlights of the report:
Market Performance Market Outlook Porter's Five Forces Analysis Market Drivers and Success Factors SWOT Analysis Value Chain Comprehensive Mapping of the Competitive Landscape
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
About Us
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic, and technological developments for business leaders in pharmaceutical, industrial, and high-technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology, and novel processing methods are at the top of the company's expertise.
Contact US
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: No:(D) +91 120 433 0800
United States: +1-631-791-1145 | United Kingdom: +44-753-713-2163
MENAFN09022024004122016232ID1107831798
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.