$2.42 Bn for Global Exempt Solvents Market by 2022

Zion Market Research has published a new report titled “Exempt Solvents Market (Methyl Chloroform, Methyl Chloride, Methyl Acetate, Acetone, Parachlorobenzotrifluoride and Other Products) for Coating Industry: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2016 – 2022”. According to the report, global exempt solvents market was valued at over USD 1.54 billion in 2016, is expected to reach USD 2.42 billion in 2022 and is anticipated to grow at a CAGR of slightly above 3.0% between 2017 and 2022.

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Solvents are an important component in coating formulations. But evidence of their contribution to ozone formation continues to spur new environmental regulations. Exempts solvents are gaining huge demand in recent times worldwide, owing to its negligible VOC emissions. Exempt solvents are low in cost as compared to conventional solvents. Several regulations led on conventional solvents has resulted in high usage of exempt solvents, moreover, growing environmental concern among the manufacturers is likely to exhibit positive impact on the exempt solvent.

Rapidly growing industrialization in emerging economies, especially in India and China, has led to a noteworthy demand for exempt solvents market. The surging demand for exempt solvents in coating industry drives the exempt solvents market. Moreover, strict regulations led by developed economies on the usage of solvents has spontaneously led to the high use of exempt solvents which is expected to positively impact on the growth of the exempt solvent market in developed economies.

Moreover, rising concern for environmental issues caused due to solvents may positively influence the growth of the exempt solvents in the forecast period.

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However, a sharp rise in the demand for green solvents may obstruct the growth of the exempt solvents. Nevertheless, stringent regulations on the use of VOCs could provide abundant opportunities for the exempt solvents market in the future.

The exempt solvents market can be segmented on the basis of products into methyl chloroform, methyl chloride, methyl acetate, acetone, parachlorobenzotrifluoride and other products. Methyl acetate is the leading segment owing to high demand from the end users due to its superior properties as compared to other solvents. Methyl acetate is a readily biodegradable solvent that can be used in blends to develop environmentally friendly cleaners. Moreover, methyl acetate is preferred where a mild odor, the fast evaporating solvent is required for formulators of coating and ink products. Others segment include dimethyl carbonate (DMC), tertiary butyl acetate etc. The others segment is likely to witness splendid growth over the forecast period. The major factor contributing is a huge demand for dimethyl carbonate and tertiary butyl acetate owing to its diverse properties.

The exempt solvent market was dominated by Europe in 2016 followed by North America. Stringent regulations imposed by the governing bodies on the use of solvents has led to huge demand for low VOC emission solvents, this factor is expected to bolster the growth of the exempt solvents in upcoming years. Asia Pacific is anticipated to witness spectacular growth in foresee period. Some of the major factors attributing to the foster growth of exempt solvents are tremendously growing industrialization and urbanization along with growing awareness for use of non VOC emission solvents. Latin America is expected to grow at a moderate rate owing to growing urbanization in Brazil. However, due to lack of awareness, Middle East, and Africa are experiencing sluggish growth in the exempt solvent market.

Kowa India Pvt. Ltd,  Miami Chemical, Inc, The Dow Chemical Company, Dowd and Guild Inc, Eastman Chemical Company, Hubbard-Hall Inc., Pacific Coast Chemicals, Startex Chemical Inc., TH Hilson Company, Univar and Parchem fine & specialty chemicals among others are some of the key players in the exempt solvents market.

Browse the full ” Exempt Solvents Market” report at https://www.zionmarketresearch.com/report/exempt-solvents-market

The global exempt solvents market for coating industry has been segmented as follows:

Exempt Solvents Market for Coating Industry: Product Analysis

  • Methyl chloroform
  • Methyl chloride
  • Methyl Acetate
  • Acetone
  • Parachlorobenzotrifluoride
  • Others

Exempt Solvents Market for Coating Industry: Regional Analysis

  • North America
    • S.
  • Europe
    • UK
    • France
    • Germany
  • Asia Pacific
    • China
    • Japan
    • India
  • Latin America
    • Brazil
  • The Middle East and Africa

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