Global Oxygenated Solvents Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Product Type;

Alcohols, Esters, Ketones, Glycol Ethers, Glycol & Bio, and Green Solvent.

By Source;

Conventional Solvent and Bio & Green Solvent.

By Application;

Paints & Coatings, Crop Protection, Pharmaceuticals, Cleaners, Personal Care, Lubricants, and Others.

By Geography;

North America, Europe, Asia Pacific, Middle East and Africa and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn139090654 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Oxygenated Solvents Market (USD Million), 2021 - 2031

In the year 2024, the Global Oxygenated Solvents Market was valued at USD 29,934.68 million. The size of this market is expected to increase to USD 45,608.54 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 6.2%.

The global oxygenated solvents market is experiencing significant growth, driven by their extensive application across various industries. Oxygenated solvents, known for their ability to dissolve organic and inorganic substances, are widely used in paints and coatings, pharmaceuticals, personal care products, and agrochemicals. These solvents are characterized by their superior solvency, low toxicity, and biodegradability, making them a preferred choice over traditional solvents. As industries continue to seek effective and environmentally friendly solutions, the demand for oxygenated solvents is expected to rise.

One of the primary factors propelling the market is the robust growth in the paints and coatings industry. Oxygenated solvents are essential in achieving the desired viscosity and stability in paint formulations, which are crucial for applications in construction and automotive sectors. Additionally, the pharmaceutical and personal care industries are major consumers of oxygenated solvents, utilizing them in the formulation of a wide range of products from medications to skincare items. The increasing global demand for these end-use products directly impacts the growth trajectory of the oxygenated solvents market.

Environmental concerns and stringent regulatory frameworks are also shaping the market dynamics. With growing awareness about the environmental impact of chemical products, there is a noticeable shift towards the adoption of eco-friendly and bio-based solvents. This trend is further supported by regulatory bodies enforcing stricter guidelines on the use of volatile organic compounds (VOCs). Manufacturers are thus investing in research and development to create innovative, sustainable solvents that comply with these regulations, thereby opening new avenues for market expansion.

Emerging markets in Asia-Pacific and Latin America present substantial growth opportunities due to rapid industrialization and urbanization. The increasing infrastructure development and rising disposable incomes in these regions are driving the demand for paints, coatings, and personal care products. Additionally, collaborations and partnerships among key players are fostering innovation and enhancing distribution networks. As companies leverage these opportunities, the global oxygenated solvents market is poised for sustained growth in the coming years.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product Type
    2. Market Snapshot, By Source
    3. Market Snapshot, By Application
    4. Market Snapshot, By Region
  4. Global Oxygenated Solvents Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Growth in Pharmaceutical and Personal Care Sectors
        2. Shift Towards Environmentally Friendly Solvents
        3. Technological Advancements
      2. Restraints
        1. Stringent Environmental Regulations
        2. Health and Safety Concerns
        3. Volatility in Raw Material Prices
      3. Opportunities
        1. Development of Bio-Based Solvents
        2. Expansion in End-Use Industries
        3. Collaborations and Partnerships
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Oxygenated Solvents Market, By Product Type, 2021- 2031(USD Million)
      1. Alcohols
      2. Esters
      3. Ketones
      4. Glycol Ethers
      5. Glycol
      6. Bio and Green Solvent
    2. Global Oxygenated Solvents Market, By Source, 2021- 2031(USD Million)
      1. Conventional solvent
      2. Bio & Green solvent
    3. Global Oxygenated Solvents Market, By Application, 2021- 2031(USD Million)
      1. Paints & Coatings
      2. Crop Protection
      3. Pharmaceuticals
      4. Cleaners
      5. Personal Care
      6. Lubricants
      7. Others
    4. Global Oxygenated Solvents Market, By Geography, 2021- 2031(USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape
    1. Company Profiles
      1. BASF SE
      2. The Dow Chemical Company
      3. Oxea GmbH
      4. Eastman Chemical Company
      5. LyondellBasell Industries N.V.
      6. Royal Dutch Shell PLC
      7. ExxonMobil
      8. INEOS
      9. China Petroleum & Chemical Corporation (Sinopec)
      10. Petroliam Nasional Berhad (PETRONAS)
  7. Analyst Views
  8. Future Outlook of the Market