Dublin, Aug. 18, 2020 (GLOBE NEWSWIRE) -- The "Aprotic Solvents Market - Growth, Trends, and Forecast (2020-2025)" report has been added to ResearchAndMarkets.com's offering.
The global market for aprotic solvents is expected to grow at a CAGR more than 3% globally during the forecast period.
Owing to the versatile and favorable chemical properties of aprotic solvents, its application in adhesives, pharmaceutical and oil and gas is growing exponentially, consequently propelling the market growth.
However, rising demand for non-toxic substitutes to aprotic solvents and increasing environmental concerns related to aprotic solvents may hinder the growth of aprotic solvents market in the near future. Moreover, the unfavorable conditions arising due to the COVID-19 outbreak is also expected to hamper the market growth during the forecast period.
Polar-aprotic solvents have shown promise in their ability to solubilize cellulose or cellulosic biomass with high efficiencies are likely to provide opportunities for the aprotic solvents market over the next five years.
Asia-Pacific dominates the aprotic solvents market, owing to the soaring consumption of aprotic solvents in adhesive, pharmaceutical and oil and gas segment from countries, such as China, India and Vietnam.
Key Market Trends
Oil and Gas Segment to Dominate the Market
- Oil and gas segment stands to be the dominating segment, where its requirement is widely driven due to growing demand for petroleum products throughout the world.
- Various attributes of aprotic solvents such as high relative permeability, low reactivity and thermal stability along with the use of aprotic solvents in gas production and oil refining are expected to boost the demand for aprotic solvents.
- Toluene is used as a raw material in the manufacturing of benzene, trinitrotoluene (TNT) and xylene which further finds application in cosmetics, disinfectants, and in the production of pharmaceuticals. Thus, the sharp rise in demand for toluene is expected to surge the market growth for aprotic solvents.
- Among types, N-Methyl-2-Pyrrolidone (NMP) is one of the key products due to its property to dissolve a wide range of metals is anticipated to register large-scale adoption especially across the plastic and oil and gas industries.
- Growing demand from emerging economies such as Indonesia, China, South Korea, and India has resulted in increased consumption of aprotic solvents, further boosting the market.
Asia-Pacific to Dominate the Global Market
- Asia Pacific region stands to be the largest and fastest growing market for aprotic solvents. Factors, such as increasing utilization in pharmaceutical, paints and oil and gas segment are likely to drive the market growth.
- Aprotic solvents are utilized as a solvent for agricultural formulations and synthesis applications such as insecticides, fungicides and herbicides. Expanding agriculture industry in China and India and among others are anticipated to propel the demand for aprotic solvents. Moreover the growth in the agriculutre sector in ASEAN countries like Indonesia, Vietnam and Thailand is also expected to boost the deamnd for these solvents.
- In pharmaceutical industry, aprotic solvent is primarily used for topical and parental drug delivery-controlled release systems. Asia-Pacific region is witnessing a continuous growth of the pharmaceutical industry which in turn expected to propel the demand for aprotic solvent.
- Hence, all such market trends are expected to drive the demand for aprotic solvents market in the region during the forecast period.
Competitive Landscape
The global aprotic solvents market is consolidated in nature with some players dominating a significant share of the market demand. Some of the major companies are BASF SE, Dow, Eastman Chemical Company, AlzChem AG and Mitsui Chemicals, Inc. amongst others.
Key Topics Covered
1 INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Demand from Oil and Gas Industry
4.1.2 Increasing Consumption in Pharmaceutical Sector
4.2 Restraints
4.2.1 Non-Toxic Substitutes
4.2.2 Envrionmental Concerns
4.3 Industry Value Chain Analysis
4.4 Porters Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Degree of Competition
5 MARKET SEGMENTATION
5.1 Type
5.1.1 N-Methyl-2-Pyrrolidone (NMP)
5.1.2 Toluene
5.1.3 Benzene
5.1.4 Acetone
5.1.5 Others
5.2 Application
5.2.1 Oil and Gas
5.2.2 Plastics
5.2.3 Pharmaceutical
5.2.4 Electronic Equipments
5.2.5 Paints and Coatings
5.2.6 Adhesives
5.2.7 Others
5.3 Geography
5.3.1 Asia-Pacific
5.3.2 North America
5.3.3 Europe
5.3.4 South America
5.3.5 Middle-East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 AlzChem AG
6.4.2 Ashland
6.4.3 BASF SE
6.4.4 CNPC Jilin Chemical Group
6.4.5 Dow
6.4.6 Eastman Chemical Company
6.4.7 Gaylord Chemical
6.4.8 INEOS
6.4.9 Mitsui Chemicals, Inc.
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Polar-aprotic Solvents Ability to Solubilize Cellulose or Cellulosic Biomass
7.2 Other Oppurtunities
For more information about this report visit https://www.researchandmarkets.com/r/hbc7ps
Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.
CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900