The ‘Global Aprotic Solvents Market Report and Forecast 2023-2028’ by Expert Market Research gives an extensive outlook of the global aprotic solvents market, assessing the market on the basis of its segments like sources, solvent types, applications, and major regions.
Aprotic Solvents Market Size, Trends, Industry Report, Key Player, Major Segments, and Forecast
The key highlights of the report include:
Market Overview (2018-2028)
Forecast CAGR (2023-2028): 2.8%
Report Attribute
Details
Historical Period
2018-2022
Forecast Period
2023-2028
Base Year
2022
Revenue Forecast in 2028
USD 25.57 billion
Growth Rate CAGR
2.8%
Major Players
BASF SE, Eastman Chemical Company, Dow Chemical Company, Ashland Global Holdings Inc., Mitsubishi Chemicals Corporation, AlzChem Group AG, and others.
Aprotic solvents are widely utilised in numerous industries such as oil and gas, pharmaceutical, and paints and coatings, among others. Downstream products of aprotic solvents such as toluene and benzene are used in the manufacturing of various construction components such as paints, roofs, and coatings. Hence, the growing expansion of the construction industry across the emerging economies is driving the global aprotic solvents market. The increasing spending on interior and exterior decoration is further boosting the demand for aprotic solvents.
In addition, aprotic solvents are used in the manufacturing of various industrial electronic components such as electric and non-electric fragrance diffusers, and oil-based electric heaters, among others. In this regard, rapid digitalisation across the industrial sector is fuelling the demand for aprotic solvents.
Over the forecast period, there is a projected increase in demand for N-methyl-2-pyrrolidone for the treatment of textiles, resins, and plastics. This is likely to further increase the applications of aprotic solvents in various end use sectors.
Aprotic SolventsIndustry Definition and Major Segments
Aprotic solvents are a type of solvents which do not have any hydrogen, nitrogen, or oxygen atoms. Aprotic solvents have the ability to absorb various solutes to produce a variety of downstream products. They can be used as a liquid, solid, or gaseous solvent which is its major advantage propelling the aprotic solvents market growth.
Based on source, the market can be segmented into:
Bio and Green
Conventional
On the basis of solvent type, the market has been classified into:
N-Methyl-2-Pyrrolidone
Benzene
Toluene
Acetone
Chloroform
Others
Based on applications, the market is segmented into:
Oil and Gas
Plastics
Pharmaceuticals
Electronic Equipment
Paints and Coatings
Adhesives
Others
On the basis of region, the market can be categorised into:
North America
Europe
Asia Pacific
Latin America
Middle East and Africa
Aprotic SolventsMarket Trends
The key trends in the global aprotic solvents market include its increasing applications in the pharmaceutical industry as a principal solvent, for the manufacturing of a wide range of pharmaceutical products. Meanwhile, the growing research and development activities in this industry, owing to the increasing cases of chronic diseases, are escalating the demand for aprotic solvents.
Technological advancements in the automotive industry are crucial market driving trends. These advancements are likely to lead to a greater application of aprotic solvents in the automotive sector to manufacture advanced and upgraded automotive components.
At a regional level, the Asia Pacific is expected to witness a stable growth in the forecast period. The aprotic solvents market in the Asia Pacific is likely to be driven by the large populations across emerging economies of the region spearheading the growth of various end use industries of the product. Moreover, the rising oil and gas production in the region is further boosting the domestic demand for aprotic solvents.
Key Market Players
The major players in the aprotic solvents market report are BASF SE, Eastman Chemical Company, Dow Chemical Company, Ashland Global Holdings Inc., Mitsubishi Chemicals Corporation, and AlzChem Group AG, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analysis the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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