The solvents market is expected to grow at a promising CAGR of 6.2% during the forecast period.
A solvent is a substance that dissolves a solute and converts it to a solution. It is usually found in liquid form, but it can also be found in solid or gaseous forms. Solvents can be classified into methanol, ethanol, butanol, propylene glycols, glycol ethers, butyl glycol ethers, acetone, esters, toluene, and hydrocarbons. The increasing advancements in chemicals, paired with the growing demand for bio-based products, given the rising strictness of environmental regulations, is expected to drive the solvents market recovery and growth. Also, the rapidly growing paints & coatings industry is promoting increased usage of the product.
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