High Purity Solvent Global Market Report 2023

Major players in the high purity solvent market are Exxon Mobil Corporation, BASF SE, Asahi Kasei Chemicals company, Linde plc, Thermo Fisher Scientific Inc., The Dow Jones Industrial Average, Evonik Industries AG, The Merck Group, Tedia Company, Mitsubishi Chemical Corporation, Akzo Nobel N.

New York, March 29, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "High Purity Solvent Global Market Report 2023" - https://www.reportlinker.com/p06310802/?utm_source=GNW V., High Purity Laboratory Chemicals Pvt. Ltd., Apchem Life Science Pvt Ltd., Spectrum Chemical Mfg. Corp., and Central Drug Testing Laboratory.The global high purity solvent market grew from $50.98 billion in 2022 to $55.6 billion in 2023 at a compound annual growth rate (CAGR) of 9.1%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, and affecting many markets across the globe. The high purity solvent market is expected to grow to $77.17 billion in 2027 at a CAGR of 8.5%.The high purity solvent market consists of sales of methyl alcohol, butyl alcohol, and 2,2,4-trimethylpentanemethyl alcohol.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.The high purity solvents are used in the chromatography of gases and liquids. High purity solvents are synthetically-distilled organic chemicals that are manufactured using multistep purification processes to provide rapid, reproducible performance and separation in research and quality control applications.Asia-Pacific was the largest region in the high purity solvent market in 2022.Asia-Pacific is expected to be the fastest-growing region in the market.The regions covered in the high purity solvent market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main types of high purity solvents are acetone, acetonitrile, dimethyl sulfoxide, and others.Acetone provides a liquid solvent that can break down and dissolve other substances.The different categories include polar solvents and non-polar solvents and are applicable in liquid crystal displays, lithium-ion batteries, electroplating, polymer resins, catalysts, and other applications. It is employed in pharmaceuticals, chemicals, cosmetics and personal care, food and beverages, agriculture, paints and coatings, biotechnology, electrical and electronics, and other end-users.The increasing demand for paints and coatings is expected to propel the growth of the high purity solvent market going forward.Paints and coatings refer to a liquid, liquefiable, or solid mastic material that solidifies after being applied to a substrate in a thin layer.High purity solvents are used to dissolve various components used in paint and coating formulations. For instance, in June 2021, according to the American Coatings Association, a US-based non-profit organization, the United States coating industry is contributing significant revenues to the US economy by exporting over $2.2 billion in coating products. Therefore, the increasing demand for paints and coatings is driving the growth of the high purity solvent market.The introduction of bio-derived products has emerged as a key trend gaining popularity in the high purity solvent market.Major companies operating in the high purity solvents sector are focused on developing bio-derived products to reinforce their position.For instance, in February 2022, Clariant, a Switzerland-based specialty chemicals company, launched its new Vita 100% bio-based surfactants and polyethylene glycols (PEGs) to help directly address climate change by removing fossil carbon from the value chain.Vita products are made with renewable feedstocks and have a Renewable Carbon Index of at least 98%.Designed for natural formulations with a high Renewable Carbon Index (RCI), the new Vita products assist manufacturers in increasing the bio-based carbon content of consumer goods such as detergents, hair and body shampoo, paint, industrial lubricants, and crop formulations.In May 2021, Aceto, a US-based pharmaceutical company, acquired Finar Limited for an undisclosed amount.With this acquisition, Aceto expands their product offerings for the biopharmaceutical, pharmaceutical, and vaccine end markets.Finar Chemicals is an India-based company operating in high purity solvents.The countries covered in the high purity solvent market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.The high purity solvent market research report is one of a series of new reports that provides high purity solvent market statistics, including high purity solvent industry global market size, regional shares, competitors with a high purity solvent market share, detailed high purity solvent market segments, market trends and opportunities, and any further data you may need to thrive in the high purity solvent industry. This high purity solvent market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06310802/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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