Oxygenated solvent is an organic solvent, which contains oxygen molecules. It is extensively used in paints, pharmaceuticals, inks, fragrances, adhesives, cosmetics, detergents, food, agrochemicals, and cleaning products. Oxygenated solvents include alcohols, glycol ethers, methyl acetate, ethyl acetate, ketones, esters, and glycol ether/esters. They can also be used for chemical synthesis. Furthermore, they can be employed as diluents, coupling agents, or other functional additives in various types of formulations.

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Growth in industries such as paints & coatings, pharmaceuticals, personal care, lubricants, and crop protection is expected to drive the oxygenated solvents market across the globe. Beneficial properties such as low toxicity and high solvency power are also boosting the oxygenated solvents market. However, implementation of regulations on VOC emissions is expected to restrain the oxygenated solvents market during the forecast period.

Based on source, the oxygenated solvents market can be segmented into conventional solvents and bio & green solvents. In terms of product type, the market can be divided into alcohols, glycol ethers, acetates, glycol ether acetates, ketones, esters, aldehydes, and others. Based on key property, the oxygenated solvents market can be segregated into coupling agent, floatation froth building blocks, and shrinkage reduction admixture. In terms of end-user industries, the market can be split into automotive & transportation, building & construction, chemical & plastic, consumer goods, food & agrochemicals.

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The bio & green solvent segment is expected to expand at a rapid pace in the near future. This growth can be ascribed to the usage of renewable sources as raw materials. Bio & green solvents are estimated to replace conventional oxygenated solvents in regions with stringent regulations on VOC emissions. However, this can be achieved through reduced cost of solvents. The conventional solvents segment is anticipated to expand at fast pace in developing countries such as India and Indonesia, wherein there is lack of regulation, owing to the relatively low cost of solvents.

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