(MENAFN Editorial) DUBLIN, December 1, 2017 /PRNewswire/ --

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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%.

An oxygenated solvent contains oxygen molecule,with high solvency and low toxicity. These solvents are widely used in paints, inks, pharmaceuticals, perfumes, adhesives, cosmetics, detergents, and food processing. Alcohols,glycols, glycol ethers, ketones,bio & green sovlents and esters are the major types of oxygenated solvents.

By source, the bio & green solvents segment of the market is projected to grow at the highest CAGR during the forecast period. The growth is attributed to the increased use of bio & green solvents due to the use of renewable sources as raw material and their non-toxic and eco-friendly nature.

The alcohol solvents segment is estimated to be the largest, in terms of volume during the forecast period. The growth of this segment is attributed to the relatively low cost and high dissolution power alcohol solvents.

Asia-Pacific accounted for the largest share of the oxygenated solvents market in 2016. The increased demand for oxygenated solvents in Asia-Pacific can be attributed to the shifting of the manufacturing sector from developed economy to the region. Moreover, the increasing government spending on the agricultural, pharmaceutical, and building & construction sectors in the region is also expected to fuel the growth of the market during the forecast period.

The bio & green solvents are environment friendly and may hamper the demand for the conventional oxygenated solvents.

The key players in the market include BASF (Germany), OXEA (Germany), LyondellBasell (Netherlands), SINOPEC (China), Eastman Chemical Company (U.S.) and The Dow Chemical Company(U.S.).

Market Dynamics

Drivers

Drivers for Conventional Solvent

Growing Applications of Oxygenated Solvents

Drivers for Bio & Green Solvents

Increasing Environmental Regulations to Reduce Vocs

Restraints

Restraints for Conventional Oxygenated Solvents

High Voc Emission By Conventional Oxygenated Solvents

Solvent Recycling Technology Affecting the Demand for New Solvents

Restraint for Bio & Green Solvents

Cost And Performance Issues

Opportunities

Opportunities for Conventional Solvents

Growing Demand for Conventional Oxygenated Solvents in Emerging Economies

Lower Crude Oil Prices

Opportunities for Bio & Green Solvents

Improving Economies of Scales Due to High Demand

Challenges

Impact of Bio & Green Solvents On Food Security

Key Topics Covered:

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Oxygenated Solvents Market, By Source

7 Oxygenated Solvents Market, By Type

8 Oxygenated Solvents Market, By Application

9 Oxygenated Solvents Market, By Region

10 Competitive Landscape

11 Company Profiles

Arkema Sa

Basf

Celanese Corporation

China Petroleum & Chemical Corporation (Sinopec)

Eastman Chemical Company

Exxonmobil

Formosa Plastics Group

Huntsman Corporation

Ineos

Jilin Xingyun Chemical Co., Ltd.

Lg Chem Ltd.

Lyondellbasell

Mitsubishi Chemical Corporation

Mitsui Chemicals, Inc.

Monument Chemical Inc.

Nan Ya Plastic Corp.

Oxea Gmbh

Petrochina Sichuan Petrochemical Company

Petroliam Nasional Berhad (Petronas)

Reliance Industries

Royal Dutch Shell

Sasol Sa

Solvay Sa

The Dow Chemical Company

Vertec Biosolvents

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