Oil and gas industry accounts for more than a third of global aprotic solvents market revenue: Fact.MR

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Aprotic Solvents Market

The global aprotic solvents market is expected to grow from a valuation of US$18.15 billion in 2021 to US$28.18 billion by 2032.

ROCKVILLE, MARYLAND, USA, May 26, 2022 /EINPresswire.com/ — According to in-depth industry analysis by Fact.MR, a market research and competitive intelligence provider, global demand for aprotic solvents is expected to increase at a CAGR of 4.2% from 2022 to 2032.

Significant advancements in manufacturing technology and several innovations in aprotic solvents are driving the growth of the market. Aprotic solvents are used in agriculture to increase production, improve product quality and reduce production costs. Other factors such as growing demand for consumer goods such as fragrances, along with intensive research and development (R&D) efforts and greater focus on sustainability, are expected to propel the market forward.

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The pharmaceutical industry is increasing its demand for aprotic solvents. Aprotic solvents are used in the production of a wide range of drugs and products. Antibacterial lotions and ointments are made with them. Purification and extraction of chemical substances are also carried out with these solvents.

Growing regulatory scrutiny and growing public awareness of issues such as health and environment are driving the demand for bio-based solvents in paints and coatings and other industries. Toxic volatile organic chemicals released by various synthetic solvents are a growing source of concern in industry, and aprotic solvents are considered a viable remedy. The huge global pharmaceutical sector and improving production expansions in terms of technological innovation are some of the important factors that are expected to accelerate the demand for bio-based polar aprotic solvents in the coming years.

Key insights from market research

• Global sales of aprotic solvents will reach a valuation of US$28.18 billion by 2032.
• The North America aprotic solvents market is expected to grow at a CAGR of 4.1% during the forecast period.
• Sales of aprotic solvents in APAC represent 28.5% of the world market.
• The oil and gas industry is expected to grow at a CAGR of 4.5% from 2022 to 2032.

“The increasing use of green solvents due to their biodegradability, recyclability and corrosion resistance, as well as the increase in R&D activities, are likely to create significant opportunities for manufacturers of aprotic solvents during the next few years,” says a Fact.MR analyst.

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Key Segments Covered by the Aprotic Solvents Industry Research

• Aprotic solvents market by product:
o N-methyl-2-pyrrolidone
o Toluene
o Benzene
o Acetone
o Others

• Aprotic Solvents Market by Source:
o Biobased aprotic solvents
o Conventional aprotic solvents

• Aprotic Solvents Market by End Use:
o Oil and Gas
o Pharmaceuticals
o Paints and coatings
o Electrical & Electronic
o Other end uses

• Aprotic solvents market by region:
o North America
o Europe
o Asia-Pacific
o Latin America
o Middle East and Africa

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Winning strategy

Companies are increasingly relying on various strategies to increase their global reach in order to target emerging markets with strong development potential and a flourishing industrial sector.
Mergers and acquisitions are on the rise, as are strategic collaborations and greener alternatives to popular in-demand product types. Growth prospects in the pharmaceutical, oil and gas sectors could help suppliers of aprotic solvents succeed in the long term.
For example,
• In 2019, HE-70S, a largely sustainable solvent made from sugar cane ethanol, was introduced by Braskem. This new product will contribute to the expansion of the company’s chemical product portfolio.

More valuable information about the offer

Fact.MR in its new offering presents an unbiased analysis of the global aprotic solvents market, showcasing historical demand data (2017-2021) and forecast statistics for the period 2022-2032.
The study discloses essential market information on the basis of product (N-methyl-2-pyrrolidone, toluene, benzene, acetone, and others), source (bio-based and conventional), and end-use (petroleum and gases, pharmaceuticals, paints and coatings, electrical and electronics and other end uses), in five major regions of the world (North America, Europe, Asia-Pacific, Latin America and MEA).

For more information
https://www.globenewswire.com/news-release/2022/05/26/2450859/0/en/Irreversible-Thermochromic-Materials-to-Hold-More-Than-50-Market-through-2032-States- Done-MR.html

Supriya Bhor Prominent Research and Consulting Services
LEADING RESEARCH AND CONSULTANCY SERVICES
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