Sellbyville, Delaware, Nov. 06, 2018 (GLOBE NEWSWIRE) --

Industrial Solvents Market is estimated to reach USD 35 billion by 2024; according to a new research report by Global Market Insights, Inc. Growing consumer demand towards cosmetic products and its formulations for various types of skincare product range may propel industrial solvents market growth. Increasing application usage in the cosmetics & personal care sector owing to enhancement of dry or damaged skin by reducing flaking and restoring suppleness should drive the industrial solvents market size.

Solvents are the substance when dissolved with a solute form a solution. Furthermore, the rise in the oil market, rapid industrialization, increasing population & urbanization, and high growth in major end-use industries including dry cleaning, nail enamels, paint thinners, paint & coatings and pharmaceutical are the major factors driving the industrial solvents market demand.

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Alcohol industrial solvents market size may surpass consumption at over 8.5 million tons by 2024. They evaporate quickly and when applied in antiseptic drug product they avert the growth of microorganisms. Oxygenated industrial solvents from cosmetic & fragrance application is posed to grow at 2.5% at the end of projected timeframe due to its solvency with other substance, the ability to decrease viscosity of liquids and diminish the propensity of finished products to produce foam when shaken, will foster the industrial solvents market growth.

Chlorinated based industrial solvents market share may exceed USD 335 million at the end of 2024. These are widely used for a variety of industrial purpose which include degreasing, cleaning solutions, paint thinners and agricultural chemicals. The chlorine chemical structure aids them to dissolve organic materials like greases and fats and are used as raw materials in the production of other compounds, thus stimulating industrial solvents market demand.

Lactate ester based green & bio solvents was valued at over USD 345 million in 2017. Lactate ester is a natural and organic acid which is biodegradable and is easy to recycle. As industrial solvents, it is formulated in products like coatings which enhances the performance owing to its high boiling point, high solvency rate and low surface tension properties. It is used in formulation of coatings for polystyrene surfaces owing its ability to scratch certain types of plastic substrates which improves adhesion, thereby driving the industrial solvents market size.

Browse key industry insights spread across 900 pages with 1269 market data tables and 51 figures & charts from the report, “Industrial Solvents Market Size By Product (Oxygenated Solvents [By Product {Alcohols, Ketones, Glycols}], [By Application {Paints & Coatings, Printing Inks, Agrochemicals, Cosmetics & Fragrances, Pharmaceuticals}], Halogenated Solvents [By Product {Chlorinated}], [By Application {Paints & Coatings, Printing Inks, Cosmetics & Fragrances, Cleaning Products}], Hydrocarbon Solvents [By Product {Aliphatic, Aromatic}], [By Application {Paints & Coatings, Cleaning Products, Rubber & Polymers, Adhesives, Printing Inks}], Green Solvents [By Product {Bio-Alcohols, Bio-Diols, Bio-Glycols, Methyl Soyate, D-Limonene, Lactate Esters}], By Application [Paints & Coatings, Pharmaceutical, Printing Inks, Household Care, Adhesives, Polymers, Industrial Cleaners, Extraction Food Products, Agrochemicals]), Industry Analysis Report, Regional Outlook (U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Russia, Poland, China, India, Japan, South Korea, Thailand, Indonesia, Malaysia, Brazil, Argentina, Saudi Arabia, UAE, South Africa), Application Potential, Price Trend, Competitive Market Share & Forecast, 2018 – 2024” in detail along with the table of contents:

U.S. industrial solvents market may witness growth at about 2.5% over the forecast period. Growing consumer spending towards skincare products as they enhance functionality, texture and sensorial attributes in skin which will stimulate the regional product demand. Superior moisturizing properties of the product aids to keep the skin hydrated and makes it an additive for restorative creams, thus propelling product demand.

Germany industrial solvents market share is anticipated to exceed USD 5 billion by the end of forecast timeframe. Increasing adhesives demand in automotive application as they are used to reduce overheating and friction in engines which is likely to drive the regional growth. They are easy to spread and have no corrosive qualities which can be used on any material without a chemical reaction, thereby increasing product demand in automotive application.

Brazil green solvents market size is anticipated to exceed USD 300 million by 2024. The replacement of bio ethanol for gasoline in cars and light weight vehicles may stimulate the industrial solvents market revenue. Technological advancement, which includes more efficient production and processing of sugarcane are the key driving factors for the availability of these products at low price. Moreover, the combustion of ethanol adds nearly no net carbon dioxide to the atmosphere which aids in reducing the threat of global warming, thus driving the industrial solvents demand.

LyondellBasell, MARZUEN, INEOS, Sasol and LG chem are the key operators in industrial solvents market. Most of the researchers are focused on to develop innovative products to upsurge the market demand which in turn may boost the product market over the predictable timeframe

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Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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