Shibuya-ku, Tokyo, Japan, Japan, Apr 08, 2022, 02:22 /Comserve / -- The oxygenated solvents market is estimated to grow from USD 22.28 billion in 2017 to USD 32.27 billion by 2022, at a CAGR of 7.8%.
With COVID-19 resulting in the economic fallout, numerous economies are working on game-changing improvements to protect their employees and clients. While focusing on the ongoing challenges, the leaders are embracing new plans in order to manage and stay afloat in this competitive environment.
The oxygenated solvents market is estimated to grow from USD 22.28 billion in 2017 to USD 32.27 billion by 2022, at a CAGR of 7.8%. The increased demand for oxygenated solvents for the paints & coatings, pharmaceuticals, personal care, lubricants, and crop protection applications is expected to drive the growth of the oxygenated solvents market across the globe. Improved properties offered by oxygenated solvents, which include low-toxicity and high solvency power contribute to the increased demand for these oxygenated solvents. However, regulations over the VOC emissions restrain the growth of the oxygenated solvents market during the forecast period.
“The crop protection application segment is projected at the highest CAGR during the forecast period from 2017 to 2022.”
The crop protection application segment is projected to grow at the highest CAGR during the forecast period, in terms of value. The use of oxygenated solvents in the crop protection products such as herbicide and insecticides helps in distribution of these products when sprayed on agricultural lands. The growth of this segment can be attributed to the increased usage of crop protection products due to increasing cultivable land globally.
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“The conventional oxygenated solvent segment is estimated to be the largest market between 2017 and 2022.”
The conventional oxygenated solvents segment is estimated to dominate the oxygenated solvents market between 2017 and 2022. The growth of this segment can be attributed to the relatively low cost of solvents in comparison to bio & green based solvents and lack of regulation in emerging economies such as India and Indonesia.
“The Asia Pacific oxygenated solvents market is projected to grow at the highest CAGR during the forecast period from 2017 to 2022.”
The Asia-Pacific oxygenated solvents market is projected to grow at the highest CAGR between 2017 and 2022. The growth is attributed to the growth of the paints & coatings, agricultural, and pharmaceutical industries that has resulted in various manufacturers to make significant investments in the region. Increasing urbanization and continuously growing population are expected increase the demand for oxygenated solvents in the region. This, in turn, is expected to contribute toward the growth of the Asia-Pacific oxygenated solvents market during the forecast period.
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Extensive primary interviews have been conducted to determine and verify the market size for several segments and subsegments.
The break-up of primary interviews has been given below.
• By Company Type: Tier 1 – 50%, Tier 2 – 37%, and Tier 3 – 13%
• By Designation: C Level – 46%, Director Level – 31%, and Others – 23%
• By Region: North America – 33%, Europe – 28%, Asia Pacific – 22%, South America– 11%, and Middle East & Africa – 6%
Research Coverage:
This research report has categorized the oxygenated solvents market on the basis of source, type, application, and region. It includes detailed information regarding the major factors, such as drivers, restraints, challenges, and opportunities, influencing the growth of the oxygenated solvents market. A detailed analysis of the key players has been done to provide insights on their business overviews, products & services offered, and key strategies, such as investments & expansions, and mergers & acquisitions adopted by them to strengthen their position in the oxygenated solvents market.
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