GITNUX MARKETDATA REPORT 2024

Industrial Solvents Industry Statistics

Industrial solvents industry statistics provide valuable insights on production levels, market demand, consumption patterns, and regulatory trends within the sector.

With sources from: grandviewresearch.com, quimser.com, precedenceresearch.com, psmarketresearch.com and many more

Statistic 1

The global industrial solvents market size was valued at USD 33.9 billion in 2019.

Statistic 2

The industry is expected to expand at a Compound Annual Growth Rate (CAGR) of 2.0% from 2020 to 2027.

Statistic 3

The industrial solvents market generated sales worth $13,737 million in 2019.

Statistic 4

Asian countries, particularly China and India, are driving the growth of the solvents market, with Asia-Pacific region accounting for over 40% of the global demand.

Statistic 5

Europe is the second-largest consumer of solvents after Asia.

Statistic 6

The U.S. industrial solvents market size was valued over USD 3 billion in 2019.

Statistic 7

Bio and Green Solvents will experience a CAGR of over 7% from 2020-2026.

Statistic 8

The Paints & Coatings sector accounted for over 40% of solvent usage in 2016.

Statistic 9

Alcohols take up around half the total market in terms of product segment within industrial solvents.

Statistic 10

The petrochemicals sector dominates in terms of global industrial solvents source with 60% of the total market.

Statistic 11

The pharmaceutical industry is expected to register a CAGR of over 4% during the period 2021-2026 in the industrial solvents market.

Statistic 12

The North American market for solvents was worth $9.6 billion in 2018.

Statistic 13

Aromatic solvents market is expected to grow at a CAGR of over 2% from 2020 to 2027.

Statistic 14

The recovery and recycling of industrial solvents was valued at $370m as of 2019.

Statistic 15

The solvent recovery systems market is projected to grow at a CAGR of 14.3% over the period 2020-2027.

Statistic 16

Cleaning products make up roughly 10 percent of the total organic solvents used.

Statistic 17

The industrial solvents market in the Middle East and Africa will expand at a CAGR of 3.9% between 2014 and 2022.

Statistic 18

By 2030, the demand for solvents in the global pharmaceutical industry is expected to reach over 4 million metric tonnes.

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In this post, we will explore key statistics and insights surrounding the global industrial solvents industry. From market size values to growth projections and regional trends, these statistics provide a comprehensive overview of the evolving landscape within this sector. Stay tuned to gain a deeper understanding of the factors shaping the industrial solvents market.

Statistic 1

"The global industrial solvents market size was valued at USD 33.9 billion in 2019."

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Statistic 2

"The industry is expected to expand at a Compound Annual Growth Rate (CAGR) of 2.0% from 2020 to 2027."

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Statistic 3

"The industrial solvents market generated sales worth $13,737 million in 2019."

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Statistic 4

"Asian countries, particularly China and India, are driving the growth of the solvents market, with Asia-Pacific region accounting for over 40% of the global demand."

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Statistic 5

"Europe is the second-largest consumer of solvents after Asia."

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Statistic 6

"The U.S. industrial solvents market size was valued over USD 3 billion in 2019."

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Statistic 7

"Bio and Green Solvents will experience a CAGR of over 7% from 2020-2026."

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Statistic 8

"The Paints & Coatings sector accounted for over 40% of solvent usage in 2016."

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Statistic 9

"Alcohols take up around half the total market in terms of product segment within industrial solvents."

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Statistic 10

"The petrochemicals sector dominates in terms of global industrial solvents source with 60% of the total market."

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Statistic 11

"The pharmaceutical industry is expected to register a CAGR of over 4% during the period 2021-2026 in the industrial solvents market."

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Statistic 12

"The North American market for solvents was worth $9.6 billion in 2018."

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Statistic 13

"Aromatic solvents market is expected to grow at a CAGR of over 2% from 2020 to 2027."

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Statistic 14

"The recovery and recycling of industrial solvents was valued at $370m as of 2019."

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Statistic 15

"The solvent recovery systems market is projected to grow at a CAGR of 14.3% over the period 2020-2027."

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Statistic 16

"Cleaning products make up roughly 10 percent of the total organic solvents used."

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Statistic 17

"The industrial solvents market in the Middle East and Africa will expand at a CAGR of 3.9% between 2014 and 2022."

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Statistic 18

"By 2030, the demand for solvents in the global pharmaceutical industry is expected to reach over 4 million metric tonnes."

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Interpretation

In conclusion, the industrial solvents market is showing steady growth, with notable contributions from key regions such as Asia-Pacific, Europe, and North America. The demand for solvents is being driven by various sectors such as paints & coatings, petrochemicals, and pharmaceuticals, with a growing shift towards bio and green solvents. The market also sees opportunities for growth in solvent recovery and recycling systems, as well as in the Middle East and Africa region. Overall, the industrial solvents industry is expected to witness significant developments and opportunities for expansion in the coming years.

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