Global Aprotic Solvents market trends 2024, Forecast To 2033
28 Feb, 2024
The aprotic solvents market size has grown marginally in recent years. It will grow from $20.27 billion in 2023 to$20.59 billion in 2024 at a compound annual growth rate (CAGR) of 1.6%. The growth in the historic period can be attributed to chemical manufacturing growth, industrial solvent usage, polymer and resin production, growing automotive sector, electronics manufacturing. The aprotic solvents market size is expected to see steady growth in the next few years. It will grow to $22.4 billion in 2028 at a compound annual growth rate (CAGR) of 2.1%. The growth in the forecast period can be attributed to growth in pharmaceutical industry, supply chain dynamics, regulatory shifts, global manufacturing trends. Major trends in the forecast period include innovation in paints and coatings, focus on green chemistry, advancements in lithium-ion batteries, focus on green solvents.
Global Aprotic Solvents Market Key Driver
The aprotic solvents market is anticipated to witness growth propelled by escalating infrastructural and construction activities. The upsurge in infrastructural and construction undertakings is attributed to population growth, economic expansions, and urbanization trends. Aprotic solvents find application in adhesives, sealants, paints, and coatings to enhance adhesion between the polymer matrix and fiber surfaces during construction processes. For example, according to Oxford Economics in October 2021, global construction output was projected to grow by 42% in volume, reaching 15.2 trillion by 2030, with key contributions from the United States, China, India, and Indonesia. Consequently, the mounting infrastructural and construction activities fuel the growth of the aprotic solvents market, mirroring its projected market sizes for 2023, 2024, and 2028.
Get A Free Sample Of The Global Aprotic Solvents Market ReportGlobal Aprotic Solvents Market Segments
The global aprotic solvents market covered in this report is segmented –
1) By Type: N-Methyl-2-Pyrrolidone (NMP) , Toluene, Benzene, Acetone, Other Types
2) By Source: Bio-Based, Synthetic
3) By Application: Oil And Gas, Plastics, Pharmaceuticals, Electronic Equipment, Paints And Coatings, Adhesives, Other Applications
By Geography: The regions covered in the aprotic solvents market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacific was the largest region in the aprotic solvents market in 2023. The regions covered in the aprotic solvents market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Aprotic Solvents Industry Players
BASF SE, Eastman Chemical Company, Royal Dutch Shell PLC, Ineos Chemicals Company, Celanese Corporation, DuPont de Nemours Inc., AlzChem AG, Asahi Kasei Corporation, Imperial Chemical Industries Ltd., Mitsubishi Chemicals Corporation, Nanjing Jinlong Chemical Co. Ltd., Ashland Global Holdings Inc., CNPC Jilin Chemical Group Co. Ltd., China National Petroleum Corporation, Merck Co. & KGaA, Dow Inc., Mitsui Chemicals Inc., Gaylord Chemical Company LLC, Finar Limited, Thermo Fisher Scientific Inc., Sigma-Aldrich Corporation, Avantor Performance Materials LLC, Honeywell International Inc., Solvay SA, Arkema SA, Huntsman Corporation, LyondellBasell Industries N.V., Sinopec Shanghai Petrochemical Company Limited, ExxonMobil Chemical Company, Chevron Phillips Chemical Company LLC, LG Chem Ltd., Sumitomo Chemical Co. Ltd., Toray Industries Inc., Ube Industries Ltd., Wacker Chemie AG
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Aprotic Solvents Market Overview
An aprotic solvent is a solvent with no hydrogen bonding, in which the proton is neither donated nor accepted (hydrogen). A solvent is a chemical compound in which a solute is dissolved. Solvents can be gaseous, solid, or liquid.
Aprotic Solvents Global Market Report 2023 provides data on the global aprotic solvents market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The aprotic solvents market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.