세계의 용제 시장 규모, 점유율, 동향, 예측 : 제품, 원료, 용도, 지역별(2025-2033년)

The global solvent market size was valued at USD 49.9 Billion in 2024. Looking forward, IMARC Group estimates the market to reach USD 69.4 Billion by 2033, exhibiting a CAGR of 3.7% from 2025-2033. Asia Pacific currently dominates the market, holding a market share of over 42.7% in 2024. The escalating demand for solvents from numerous industries, the widespread product utilization to produce cosmetics and personal care products, and advancements in manufacturing techniques across the globe are some of the major factors contributing to a positive solvent market outlook.

Solvent Market Analysis:

Major Market Drivers: The increasing industrial activities and the rising product demand in the cosmetics industry are driving the market. The revenue in the global cosmetics market in 2024 is projected to reach US$108.40 billion. This, in turn, will propel the product demand.

Key Market Trends: The rise of bio-based solvents and the shift towards water-based solvents are key market trends.

Geographical Trends: Asia Pacific dominates the market due to the increasing demand for solvents in paints, coatings, adhesives, and packaging applications.

Competitive Landscape: Archer-Daniels-Midland Company, Ashland Inc., BASF SE, and Bharat Petroleum Corporation Limited are some of the key market players.

Challenges and Opportunities: The regulatory compliance is a challenge and the mergers and acquisitions by the market players are the opportunities.

Solvent Market Trends:

Rapid technological advancements

Rapid technological advancements are opening up valuable opportunities for growth in the solvent market. Both developed and developing regions benefit from a wealth of experience and expertise in this market. Advanced technologies and the application of new systems are catalyzing the demand for improved products. The burgeoning demand for superior products, fueled by advanced technologies and the implementation of innovative systems, is particularly pronounced in developing economies, where the solvent market growth is notably higher. In 2014, Shell developed Gas-to-Liquids (GTL) technology, which has helped the solvent market to grow even further. The growth of solvent technology is also marked by the creation of new formulations with improved characteristics.

Increasing demand for eco-friendly solvents

There is a growing demand for eco-friendly solvent products with little environmental effect. These dissolving agents are intended to be lesser hazardous and produce lesser emissions. Industries that previously relied on harsh chemicals are now looking for alternatives that provide the same efficacy without jeopardizing health or the environment. Bio-based dissolving agents made from renewable resources such as sugarcane, maize, or cellulose are gaining popularity. They have a lower carbon footprint and are becoming more cost-effective as manufacturing techniques advance. The aim is to develop bio-solvents that can match or outperform conventional ones in a variety of industrial applications, which can augment the solvent market revenue.

Rising product demand in the paints and coatings industry

Solvent is a popular choice in the paints and coatings industry due to its temperature resistance, durability, and low cost. The substance is widely used in paints to prevent clumps or globs and offer the desired consistency in a variety of applications. Furthermore, increased demand for paints due to rapid growth in the building industry and soaring infrastructure development in nations such as China, India, and the United States will drive solvent adoption. As a result, the increasing demand from the paints and coatings sector is likely to drive solvent demand and further market expansion.

Solvent Market Segmentation:

Breakup by Product:

• Alcohols
• Hydrocarbons
• Ketones
• Esters
• Chlorinated
• Others

Alcohols dominate the market

Alcohol is predicted to continue to dominate the global market and offer numerous solvent market recent opportunities. They are more polar than hydrocarbons or ketones, which accounts for their growth. Growth is also driven by rising demand for ethanol, methanol, n-butanol, and isopropanol for a variety of uses. Ethanol is widely used as a solvent since it is safe to use and can dissolve many organic compounds that are not soluble in water, making it a popular ingredient in cosmetics and perfumes. It is also used in perfumes, vegetable essences, and pharmaceuticals, while methanol is widely used in inks and adhesives. As a result, increased acceptance of these products will bolster the solvent market overview.

Breakup by Source:

• Petrochemical-based
• Bio and Green

Petrochemical-based holds the largest share in the market

The petrochemical-based category led the market and is expected to maintain its dominance in the anticipated period in the solvent market report, followed by bio-based solvents. The majority of solvents are derived from synthetic chemicals and petroleum. These derived sources are properly prepared to broaden solvent applications into newer sectors. Hydrocarbon fractions generated from petroleum are employed in industrial and commercial formulations to suspend, dissolve, or transport other components. The expansion of refinery operations aimed primarily at converting low-octane feedstocks to high-octane fuels, as well as environmental constraints and concerns, has led to a considerable increase in the diversity of petroleum solvents in recent years. This, in turn, is contributing to many solvent market recent developments.

Breakup by Application:

• Paints and Coatings
• Printing Inks
• Pharmaceuticals
• Cosmetics and Adhesives
• Others

Paints and coatings hold the biggest share in the market

The paints and coatings segment held the largest solvent market share and is predicted to grow at the fastest CAGR due to its widespread use in the construction industry. The rapid rise of the construction industry, combined with advances in paint technology to make them more sustainable, is driving the growth of this application segment. Construction activity is increasing in economies such as the United States, India, China, and Brazil, propelling market growth. The rising construction industry is driving the demand for paints and coatings, a key solvent application market. This product is a top choice in the paints and coatings industry due to its temperature resistance, durability, and cost.

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

Asia Pacific leads the market, accounting for the largest solvent market share

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share.

The Asia-Pacific solvent market has the largest market share and is expected to witness the highest revenue share throughout the solvent market forecast period. This is due to the region's growing demand for solvents in the industries of home care, personal care, and cosmetics. Growing urbanization and changed lifestyles are two major reasons contributing to the demand for solvents across the region. Market expansion in the region is expected to be aided by rising construction investment in countries such as China and India, as well as growing industrialization. End-user sectors in emerging countries, such as paints, coatings, and adhesives, are expanding, and this is expected to boost product demand in the future.

Competitive Landscape:

The market research report has provided a comprehensive analysis of the competitive landscape. Detailed profiles of all major companies have also been provided. Some of the key players in the market include:

• 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.

Major solvent companies are involved in capacity expansion, product innovation, acquisitions, mergers, and partnerships on a global scale. In 2019, for example, BASF SE increased the capacity of its integrated ethylene oxide and derivatives complex at its Verbund plant in Antwerp. The corporation specializes in the production and distribution of chemicals. Its operations span 80 countries in North America, Europe, Asia Pacific, the Middle East, and Africa. Some of the key players are also focusing on developing sustainable products. For instance, Solvay launched a new Renewable Materials and Biotechnology platform in 2022, with the goal of producing innovative and sustainable solutions for a variety of markets via the use of renewable feedstock and biotechnology.

Key Questions Answered in This Report

• 1.What is solvent?
• 2.How big is the solvent market?
• 3.What is the expected growth rate of the global solvent market during 2025-2033?
• 4.What are the key factors driving the global solvent market?
• 5.What is the leading segment of the global solvent market based on product?
• 6.What is the leading segment of the global solvent market based on source?
• 7.What is the leading segment of the global solvent market based on application?
• 8.What are the key regions in the global solvent market?
• 9.Who are the key players/companies in the global solvent market?

Table of Contents

1 Preface

2 Scope and Methodology

• 2.1 Objectives of the Study
• 2.2 Stakeholders
• 2.3 Data Sources
  • 2.3.1 Primary Sources
  • 2.3.2 Secondary Sources
• 2.4 Market Estimation
  • 2.4.1 Bottom-Up Approach
  • 2.4.2 Top-Down Approach
• 2.5 Forecasting Methodology

3 Executive Summary

4 Introduction

• 4.1 Overview
• 4.2 Key Industry Trends

5 Global Solvent Market

• 5.1 Market Overview
• 5.2 Market Performance
• 5.3 Impact of COVID-19
• 5.4 Market Forecast

6 Market Breakup by Product

• 6.1 Alcohols
  • 6.1.1 Market Trends
  • 6.1.2 Market Forecast
• 6.2 Hydrocarbons
  • 6.2.1 Market Trends
  • 6.2.2 Market Forecast
• 6.3 Ketones
  • 6.3.1 Market Trends
  • 6.3.2 Market Forecast
• 6.4 Esters
  • 6.4.1 Market Trends
  • 6.4.2 Market Forecast
• 6.5 Chlorinated
  • 6.5.1 Market Trends
  • 6.5.2 Market Forecast
• 6.6 Others
  • 6.6.1 Market Trends
  • 6.6.2 Market Forecast

7 Market Breakup by Source

• 7.1 Petrochemical-based
  • 7.1.1 Market Trends
  • 7.1.2 Market Forecast
• 7.2 Bio and Green
  • 7.2.1 Market Trends
  • 7.2.2 Market Forecast

8 Market Breakup by Application

• 8.1 Paints and Coatings
  • 8.1.1 Market Trends
  • 8.1.2 Market Forecast
• 8.2 Printing Inks
  • 8.2.1 Market Trends
  • 8.2.2 Market Forecast
• 8.3 Pharmaceuticals
  • 8.3.1 Market Trends
  • 8.3.2 Market Forecast
• 8.4 Cosmetics and Adhesives
  • 8.4.1 Market Trends
  • 8.4.2 Market Forecast
• 8.5 Others
  • 8.5.1 Market Trends
  • 8.5.2 Market Forecast

9 Market Breakup by Region

• 9.1 North America
  • 9.1.1 United States
    • 9.1.1.1 Market Trends
    • 9.1.1.2 Market Forecast
  • 9.1.2 Canada
    • 9.1.2.1 Market Trends
    • 9.1.2.2 Market Forecast
• 9.2 Asia-Pacific
  • 9.2.1 China
    • 9.2.1.1 Market Trends
    • 9.2.1.2 Market Forecast
  • 9.2.2 Japan
    • 9.2.2.1 Market Trends
    • 9.2.2.2 Market Forecast
  • 9.2.3 India
    • 9.2.3.1 Market Trends
    • 9.2.3.2 Market Forecast
  • 9.2.4 South Korea
    • 9.2.4.1 Market Trends
    • 9.2.4.2 Market Forecast
  • 9.2.5 Australia
    • 9.2.5.1 Market Trends
    • 9.2.5.2 Market Forecast
  • 9.2.6 Indonesia
    • 9.2.6.1 Market Trends
    • 9.2.6.2 Market Forecast
  • 9.2.7 Others
    • 9.2.7.1 Market Trends
    • 9.2.7.2 Market Forecast
• 9.3 Europe
  • 9.3.1 Germany
    • 9.3.1.1 Market Trends
    • 9.3.1.2 Market Forecast
  • 9.3.2 France
    • 9.3.2.1 Market Trends
    • 9.3.2.2 Market Forecast
  • 9.3.3 United Kingdom
    • 9.3.3.1 Market Trends
    • 9.3.3.2 Market Forecast
  • 9.3.4 Italy
    • 9.3.4.1 Market Trends
    • 9.3.4.2 Market Forecast
  • 9.3.5 Spain
    • 9.3.5.1 Market Trends
    • 9.3.5.2 Market Forecast
  • 9.3.6 Russia
    • 9.3.6.1 Market Trends
    • 9.3.6.2 Market Forecast
  • 9.3.7 Others
    • 9.3.7.1 Market Trends
    • 9.3.7.2 Market Forecast
• 9.4 Latin America
  • 9.4.1 Brazil
    • 9.4.1.1 Market Trends
    • 9.4.1.2 Market Forecast
  • 9.4.2 Mexico
    • 9.4.2.1 Market Trends
    • 9.4.2.2 Market Forecast
  • 9.4.3 Others
    • 9.4.3.1 Market Trends
    • 9.4.3.2 Market Forecast
• 9.5 Middle East and Africa
  • 9.5.1 Market Trends
  • 9.5.2 Market Breakup by Country
  • 9.5.3 Market Forecast

10 SWOT Analysis

• 10.1 Overview
• 10.2 Strengths
• 10.3 Weaknesses
• 10.4 Opportunities
• 10.5 Threats

11 Value Chain Analysis

12 Porters Five Forces Analysis

• 12.1 Overview
• 12.2 Bargaining Power of Buyers
• 12.3 Bargaining Power of Suppliers
• 12.4 Degree of Competition
• 12.5 Threat of New Entrants
• 12.6 Threat of Substitutes

13 Price Analysis

14 Competitive Landscape

• 14.1 Market Structure
• 14.2 Key Players
• 14.3 Profiles of Key Players
  • 14.3.1 Archer-Daniels-Midland Company
    • 14.3.1.1 Company Overview
    • 14.3.1.2 Product Portfolio
    • 14.3.1.3 Financials
    • 14.3.1.4 SWOT Analysis
  • 14.3.2 Ashland Inc.
    • 14.3.2.1 Company Overview
    • 14.3.2.2 Product Portfolio
    • 14.3.2.3 Financials
    • 14.3.2.4 SWOT Analysis
  • 14.3.3 BASF SE
    • 14.3.3.1 Company Overview
    • 14.3.3.2 Product Portfolio
    • 14.3.3.3 Financials
    • 14.3.3.4 SWOT Analysis
  • 14.3.4 Bharat Petroleum Corporation Limited
    • 14.3.4.1 Company Overview
    • 14.3.4.2 Product Portfolio
    • 14.3.4.3 Financials
    • 14.3.4.4 SWOT Analysis
  • 14.3.5 bp p.l.c.
    • 14.3.5.1 Company Overview
    • 14.3.5.2 Product Portfolio
    • 14.3.5.3 Financials
    • 14.3.5.4 SWOT Analysis
  • 14.3.6 Celanese Corporation
    • 14.3.6.1 Company Overview
    • 14.3.6.2 Product Portfolio
    • 14.3.6.3 Financials
    • 14.3.6.4 SWOT Analysis
  • 14.3.7 Dow Inc.
    • 14.3.7.1 Company Overview
    • 14.3.7.2 Product Portfolio
    • 14.3.7.3 Financials
    • 14.3.7.4 SWOT Analysis
  • 14.3.8 Eastman Chemical Company
    • 14.3.8.1 Company Overview
    • 14.3.8.2 Product Portfolio
    • 14.3.8.3 Financials
    • 14.3.8.4 SWOT Analysis
  • 14.3.9 Exxon Mobil Corporation
    • 14.3.9.1 Company Overview
    • 14.3.9.2 Product Portfolio
    • 14.3.9.3 Financials
    • 14.3.9.4 SWOT Analysis
  • 14.3.10 Honeywell International Inc.
    • 14.3.10.1 Company Overview
    • 14.3.10.2 Product Portfolio
    • 14.3.10.3 Financials
    • 14.3.10.4 SWOT Analysis
  • 14.3.11 Huntsman Corporation
    • 14.3.11.1 Company Overview
    • 14.3.11.2 Product Portfolio
    • 14.3.11.3 Financials
    • 14.3.11.4 SWOT Analysis
  • 14.3.12 LyondellBasell Industries N.V.
    • 14.3.12.1 Company Overview
    • 14.3.12.2 Product Portfolio
    • 14.3.12.3 Financials
    • 14.3.12.4 SWOT Analysis
  • 14.3.13 Royal Dutch Shell plc
    • 14.3.13.1 Company Overview
    • 14.3.13.2 Product Portfolio
    • 14.3.13.3 Financials
  • 14.3.14 Sasol Limited
    • 14.3.14.1 Company Overview
    • 14.3.14.2 Product Portfolio
    • 14.3.14.3 Financials
    • 14.3.14.4 SWOT Analysis
  • 14.3.15 Solvay S.A.
    • 14.3.15.1 Company Overview
    • 14.3.15.2 Product Portfolio
    • 14.3.15.3 Financials
    • 14.3.15.4 SWOT Analysis