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    Solvent Market

    ID: 7009
    185 Pages
    Research Team
    07/2025

    Solvent Market Research Report Information By Type (Alcohols, Ketones, Esters, Aromatic, Aliphatic and Other), By Source (Petrochemical-Based and Bio-based Solvents), By Application (Paints And Coatings, Adhesives, Pharmaceuticals, Cosmetics and Personal care and Other) and By Region - Forecast to 2030.

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    Market Summary

    Research Methodology on Solvent Market


    This research report is undertaken to analyze the current status of the solvent market and make predictions about its future trajectory. For the pertinent analysis of the market, a comprehensive research methodology was employed, consisting of primary and secondary research.


    The primary research information was gathered through structured questionnaires and detailed interviews with industry experts and stakeholders. The goal of the interviews was to acquire a better understanding of the factors that are driving and restraining the growth of the global solvent market. Additionally, the interviews also helped assess the impact of market dynamics on the overall industry. The secondary research was conducted through an extensive literature search, company databases, alliance databases, press releases, online communities, and various other sources. The secondary research helped supplement the primary research analysis by allowing better access to information sources.


    The geographical scope of the research is limited to multiple regions such as North America, Europe, Asia-Pacific, Middle East & Africa and South America. The scope included the country-level analysis across all the aforementioned regions to gain a better understanding of the micro-economic and macro-economic factors influencing market growth.


    The global solvent market analysis was based on multiple parameters including market size, market structure, intrinsic and extrinsic industry drivers, market dynamics, pricing analysis, strategies of growth, value chain analysis, competitive landscape, market segmentation and forecast.


    Market Size: Global solvent market size for the period 2023-2030 was estimated using the top-down and bottom-up approaches. The top-down approach was used to segment the global solvent market and make predictions about the market size for each segment during the forecast period. The bottom-up approach was used to calculate the overall market size from primary and secondary sources.


    Market Structure: The report presents a comprehensive overview of the global solvent market structure and also extensively discusses the regional and sub-segments. The analysis offers deep insights into the market by understanding the regional dynamics and their impact on the overall market.


    Value Chain Analysis: The report provides a comprehensive value chain analysis of the market. It includes the analysis of upstream and downstream processes that are required for the successful functioning of the market.


    Competitive Landscape: The report provides a detailed strategic analysis of the global solvent market and presents Porter’s five forces analysis. It includes the competitive strategies adopted by market players and their market positioning.


    Market Segmentation: The report provides a market segmentation of the global solvent market based on product type, application, and region. This helps to understand the market dynamics and their impact on the overall market.


    Pricing Analysis: The pricing analysis helps to identify the current pricing trends in the market and their impact on the overall market.


    Strategies of Growth: The report presents a detailed analysis of the strategies of growth that have contributed to the success of the industry players in the market.


    Primary Research: Focus group discussions, structured questionnaires, detailed interviews, and surveys were conducted with industry experts and stakeholders to acquire a better understanding of the current market dynamics and future prospects. Additionally, the primary research data gathered from the interviews and surveys was used to validate the secondary research data.


    Secondary Research: Extensive literature search helps in acquiring comprehensive information about the market and understanding the regional dynamics. Additionally, this helps to unveil the current market trends, product offerings, and market pricing. Secondary research includes company databases, alliance databases, press releases, online communities, and various other sources.


    Data Triangulation: Data triangulation was implemented to combine the primary and secondary sources of information and arrive at the final market estimates. Additionally, it was also used to validate the accuracy of the market size estimates.


    Forecast Analysis: For the forecast analysis, the market was divided into multiple segments and regions. The forecasts were derived through a combination of top-down and bottom-up approaches. The key assumptions used in the models are based on historical trends and current market dynamics.


    Market Estimation: The overall market estimation includes the assessment of all the drivers and restraints of the global solvent market. The market size was estimated based on top-down and bottom-up approaches.


    Expert Opinion: Expert opinions were sought for the market size estimation. The expert opinions were based on historic trends, current market dynamics, and expert judgement.

    Market Size & Forecast

    Report Attribute/Metric Details
    Market Size 2021 USD 23.4 billion
    Market Size 2022 USD 25.6 billion
    Market Size 2030 USD 50.01 billion
    Compound Annual Growth Rate (CAGR) 6.4 % (2022-2030)
    Base Year 2022
    Forecast Period 2023-2030
    Historical Data 2019 & 2021
    Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Segments Covered Type, Source, Application and Region
    Geographies Covered North America, Europe, Asia Pacific, Middle East & Africa and South America
    Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, Saudi Arabia, UAE, Argentina,
    Key Companies Profiled BASF SE (Germany), Solvay SA (Belgium), Eastman Chemical Company (US), Exxon Mobil Corporation (US), Royal Dutch Shell Plc (Netherlands), Sasol Solvents (South Africa), Ashland Inc. (US), Chevron Phillips Chemical Company LLC (US), Kuraray Co., Ltd. (Japan), LyondellBasell Industries Holdings B.V. (Netherlands), The Dow Chemical Company (US), TotalEnergies SE (France), INEOS AG (US) and Huntsman International LLC (US)
    Key Market Opportunities Technological Innovations and Increased Use of Organic Solvents
    Key Market Dynamics Rapidly flourishing paints and coating industry Technological advancements

    Major Players

    Solvent Market Segmentation

    Solvent type Outlook (USD Million, 2019-2030)

    • Alcohols

    • Ketones

    • Esters

    • Aromatic

    • Aliphatic

    • Other

    Solvent Source Outlook (USD Million, 2019-2030)

    • Petrochemical-Based

    • Bio-based Solvents

    Solvent Application Outlook (USD Million, 2019-2030)

    • Paints And Coatings

    • Adhesives

    • Pharmaceuticals

    • Cosmetics and Personal care

    • Other

    Solvent Regional Outlook (USD Million, 2019-2030)

    • North America Outlook (USD Million, 2019-2030)

      • North America Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • North America Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • North America Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • US Outlook (USD Million, 2019-2030)

      • US Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • US Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • US Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • Canada Outlook (USD Million, 2019-2030)

      • Canada Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Canada Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Canada Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

    • Europe Outlook (USD Million, 2019-2030)

      • Europe Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Europe Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Europe Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • Germany Outlook (USD Million, 2019-2030)

      • Germany Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Germany Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Germany Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • France Outlook (USD Million, 2019-2030)

      • France Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • France Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • France Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • UK Outlook (USD Million, 2019-2030)

      • UK Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • UK Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • UK Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • ITALY Outlook (USD Million, 2019-2030)

      • Italy Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Italy Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Italy Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

        •  

      • Spain Outlook (USD Million, 2019-2030)

      • Spain Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Spain Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Spain Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • Rest Of Europe Outlook (USD Million, 2019-2030)

      • Rest of Europe Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Rest of Europe Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Rest of Europe Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

    • Asia-Pacific Outlook (USD Million, 2019-2030)

      • Asia-Pacific Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Asia-Pacific Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Asia-Pacific Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • China Outlook (USD Million, 2019-2030)

      • China Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • China Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • China Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • Japan Outlook (USD Million, 2019-2030)

      • Japan Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Japan Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Japan Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • India Outlook (USD Million, 2019-2030)

      • India Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • India Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • India Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • Australia Outlook (USD Million, 2019-2030)

      • Australia Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Australia Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Australia Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • Rest of Asia-Pacific Outlook (USD Million, 2019-2030)

      • Rest of Asia-Pacific Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Rest of Asia-Pacific Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Rest of Asia-Pacific Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

    • Middle East & Africa Outlook (USD Million, 2019-2030)

      • Middle East & Africa Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Middle East & Africa Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Middle East & Africa Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • Saudi Arabia Outlook (USD Million, 2019-2030)

      • Saudi Arabia Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Saudi Arabia Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Saudi Arabia Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • UAE Outlook (USD Million, 2019-2030)

      • UAE Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • UAE Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • UAE Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • South Africa Outlook (USD Million, 2019-2030)

      • South Africa Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • South Africa Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • South Africa Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • Rest of Middle East & Africa Outlook (USD Million, 2019-2030)

      • Rest of Middle East & Africa Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Rest of Middle East & Africa Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Rest of Middle East & Africa Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

    • South America Outlook (USD Million, 2019-2030)

      • South America Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • South America Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • South America Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • Brazil Outlook (USD Million, 2019-2030)

      • Brazil Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Brazil Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Brazil Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • Argentina Outlook (USD Million, 2019-2030)

      • Argentina Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Argentina Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Argentina Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

      • Rest of South America Outlook (USD Million, 2019-2030)

      • Rest of South America Solvent by Type

        • Alcohols

        • Ketones

        • Esters

        • Aromatic

        • Aliphatic

        • Other

      • Rest of South America Solvent by Source

        • Petrochemical-Based

        • Bio-based Solvents

      • Rest of South America Solvent by Application

        • Paints And Coatings

        • Adhesives

        • Pharmaceuticals

        • Cosmetics and Personal care

        • Other

    Market Trends

    Global Solvent Market Overview

    Solvent Market Size was valued at USD 23.4 billion in 2021. The Solvent industry is projected to grow from USD 25.6 billion in 2022 to USD 50.01 billion by 2030, exhibiting a compound annual growth rate (CAGR) of 6.4% during the forecast period (2022 - 2030). The primary force behind the growth of the solvent market worldwide is the bigtime application of solvents across the Paint and Coating industry. The increased use of paints and coatings in the building and construction, automotive, and semiconductor industries over the past few years has resulted in the industry's tremendous expansion. The market for solvents will continue to grow as the paints and coatings sector prepares for a seismic shift in the near future. The sector will also experience a certain surge in demand, which will boost revenues throughout the forecast period. Solvent Market Overview Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

    Solvent Market Trends

    Rapidly flourishing paints and coating industry to fuel the solvent market

    The market's growth is anticipated to be boosted by the expanding demand from the paints and coatings sector. This product is a top pick in the paints and coatings sector due to qualities including temperature resistance, robustness, and affordabili...

    Market Segment Insights

    Smartphone Sensors Smartphone Type Insights

    The Smartphone Sensors market segmentation, based on smartphone type, includes standard smartphone, rugged smartphone, smartwatches, and other wearable. The standard smartphone segment dominated the market, accounting for the maximum market revenue. A smartphone is a mobile phone with a built-in computer and advanced features, such as web browsing and operating system, which are not associated with its counterpart. The rising mobile internet use, rising disposable income in developing countries, and high ownership of premium design smartphones are a few factors that are anticipated to grow smartphone sales. Smartphones are helped by a mobile operating system that offers advanced computing facilities. A smartphone can also work as a digital media player for uploading photos, videos, and music through a single interface.

    Smartphone Sensors Market, By Device Type Outlook, 2024 & 2035
    Get detailed insights about Solvent Market

    Smartphone Sensors Manufacturer Insights

    The Smartphone Sensors market segmentation, based on the manufacturer, includes Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD Global, and others. The Apple Inc. segment generated the most revenue due to its superior quality. Apple’s iPhone stands out over all other smartphones in the market. Apple Inc. is the market leader because they use more sensors in their devices to provide unique features. For Instance: Apple’s iPhone 12 uses a lidar for depth sensing, proximity for 3D touch, a gyroscope for compass, GPS, face ID for biometrics, auto-off, a barometer, a magnetometer for compass & GPS, and an ambient light sensor for auto-dimming displays. The better user experience, increased accessibility, and more security these sensors offer consumers to boost the segment‘s growth.

    Smartphone Sensors Application Insights

    The Smartphone Sensors market segmentation, based on the manufacturer, includes Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD Global, and others. The Apple Inc. segment generated the most revenue due to its superior quality. Apple’s iPhone stands out over all other smartphones in the market. Apple Inc. is the market leader because they use more sensors in their devices to provide unique features. For Instance: Apple’s iPhone 12 uses a lidar for depth sensing, proximity for 3D touch, a gyroscope for compass, GPS, face ID for biometrics, auto-off, a barometer, a magnetometer for compass & GPS, and an ambient light sensor for auto-dimming displays. The better user experience, increased accessibility, and more security these sensors offer consumers to boost the segment‘s growth.

    Smartphone Sensors Regional Insights

    The Smartphone Sensors market segmentation, based on the manufacturer, includes Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD Global, and others. The Apple Inc. segment generated the most revenue due to its superior quality. Apple’s iPhone stands out over all other smartphones in the market. Apple Inc. is the market leader because they use more sensors in their devices to provide unique features. For Instance: Apple’s iPhone 12 uses a lidar for depth sensing, proximity for 3D touch, a gyroscope for compass, GPS, face ID for biometrics, auto-off, a barometer, a magnetometer for compass & GPS, and an ambient light sensor for auto-dimming displays. The better user experience, increased accessibility, and more security these sensors offer consumers to boost the segment‘s growth.

    Smartphone Sensors Market, By Device Type Outlook, 2024 & 2035
    Get detailed insights about Smartphone Sensors Market

    Smartphone Sensors Price Insights

    The Smartphone Sensors market segmentation, based on price, includes USD 300 to USD 500, USD 100 to USD 300, above USD 500, and under USD 100. The USD 300 to USD 500 segment dominated the market revenue in the projected period. Most smartphones sold in medium-end devices have a sensor within this range. For instance: Nubia launched a new flagship Android device powered by the latest Snapdragon 8Gen 2CPU. The OEM has also specified that this gadget, which peculiarly seems to go by the name Z50 even though its processor was the z40 Pro, will compete with the Xiaomi 13 and iQOO11 series with cutting-edge LPDDR5X RAM and storage with the most recent UFS 4.0 spec.

    Get more detailed insights about Solvent Market

    Key Players and Competitive Insights

    Leading market players are investing heavily in research and development to expand their product lines, which will help the Smartphone Sensors market, grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and growing market climate, the Smartphone Sensors industry must offer cost-effective items.

    Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Smartphone Sensors industry to benefit clients and increase the market sector. In recent years, the Smartphone Sensors industry has offered manufacturers some of the most significant advantages. Major players in the Smartphone Sensors market, including MS AG (Austria), Broadcom Inc. (US), DYNA IMAGE Corporation (China), Murata Electronics Oy (Finland), NEXT Biometrics Group ASA (Norway), Omron Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Sony Corporation (Japan)., and others, are attempting to increase market demand by investing in research and development operations.

    Samsung is dedicated to abiding by local laws and regulations and enforcing a strict code of conduct for all employees. Samsung adheres to a straightforward business tent: to usage its technology and expertise to develop top-notch goods and services that make a more cultured world. Samsung provides a high importance on its people and technologies to do this. For Instance: In January 2023, Samsung Electronics launched its new MICRO LED, Neo QLED, and Samsung OLED product lines, along with lifestyle products and accessories, before CES® 2023.

    Apple Inc. is a multinational American technology business with its main office in Cupertino, California. According to revenue, Apple will be the top technological business in the world in 2022, with US $ 394.3 billion in sales. According to market capitalization, Apple is the largest corporation in the world as of March 2023. For Instance: In September 2022, the iPhone 14 and iPhone 14 Plus, which come in two sizes, 6.1 and 6.7 inches and include a smart design, camera upgrades, and game-changing new safety measures, were introduced by Apple. The iPhone 14 and iPhone 14 Plus have a powerful camera system that incorporates the primary and front TrueDepth cameras, the Ultra Wide camera for uncommon perspectives, and the photonic engine, an enhanced picture pipeline.

    Key Companies in the Smartphone Sensors market include

    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)

    Industry Developments

    • September 2022: Comcast and Samsung Electronics announced their partnership to create 5G Radio Access Network (RAN) technologies to enhance 5G connection for Xfinity Mobile and Comcast Business Mobile users in Comcast service zones. Samsung will provide 5G RAN technology, and Comcast will deploy Citizens Broadband Radio Service (CBRS) and 600 MHz spectrum to provide 5G access to consumer and business users in the US.
    • October 2022: Huawei announced the release of the newest antenna solutions, including the Maxwell platform and the X2 antenna series, for the subsequent 5G antenna innovation stage. The new technologies speed up 5G deployment by improving antenna and setup capabilities.

    Market Segmentation

    Smartphone Type Outlook

    • Standard Smartphone
    • Rugged Smartphone
    • Smartwatches
    • Other Wearable

    Price Outlook

    • USD 300 to USD 500
    • USD 100 to USD 300
    • Above USD 500
    • Under USD 100

    Manufacturer Outlook

    • Apple Inc.
    • Samsung Electronics
    • Huawei Technology
    • Xiaomi Inc.
    • Oppo
    • Sony Corporation
    • HMD Global

    Application Outlook

    • High-Level
    • Mid-Level
    • Low-Level

    Manufacturer Outlook

    North America
    • US
    • Canada
    Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
    Asia-Pacific
    • China
    • Japan
    • India
    • Italy
    • Australia
    • South Korea
    • Rest of Asia-Pacific
    Rest of the World
    • Middle East
    • Africa
    • Latin America

    Report Scope

    Report Attribute/Metric Details
    Market Size 2021 USD 23.4 billion
    Market Size 2022 USD 25.6 billion
    Market Size 2030 USD 50.01 billion
    Compound Annual Growth Rate (CAGR) 6.4 % (2022-2030)
    Base Year 2022
    Forecast Period 2023-2030
    Historical Data 2019 & 2021
    Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
    Segments Covered Type, Source, Application and Region
    Geographies Covered North America, Europe, Asia Pacific, Middle East & Africa and South America
    Countries Covered The U.S, Canada, Germany, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, Brazil, Saudi Arabia, UAE, Argentina,
    Key Companies Profiled BASF SE (Germany), Solvay SA (Belgium), Eastman Chemical Company (US), Exxon Mobil Corporation (US), Royal Dutch Shell Plc (Netherlands), Sasol Solvents (South Africa), Ashland Inc. (US), Chevron Phillips Chemical Company LLC (US), Kuraray Co., Ltd. (Japan), LyondellBasell Industries Holdings B.V. (Netherlands), The Dow Chemical Company (US), TotalEnergies SE (France), INEOS AG (US) and Huntsman International LLC (US)
    Key Market Opportunities Technological Innovations and Increased Use of Organic Solvents
    Key Market Dynamics Rapidly flourishing paints and coating industry Technological advancements

    Market Highlights

    Author

    Aarti Dhapte
    Team Lead - Research

    She holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

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    Latest Comments

    John Doe
    john@example.com

    This is a great article! Really helped me understand the topic better.

    Posted on July 23, 2025, 10:15 AM
    Jane Smith
    jane@domain.com

    Thanks for sharing this. I’ve bookmarked it for later reference.

    Posted on July 22, 2025, 7:45 PM
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    FAQs

    What is the valuation of the market?

    The global solvents market is expected to be worth more than USD 48 million by 2025.

    What is the CAGR of the market?

    The market is expected to exhibit a strong 4% CAGR over the forecast period from 2019 to 2025.

    What is the major driver for the market?

    The growing paints and coatings and pharmaceutical industries are the major driver for the solvents market.

    Which is the leading regional market?

    Asia Pacific accounted for the largest share in the global solvent market in 2018.

    What are the leading market players?

    Leading players in the solvent market include Celanese, Eastman, and Shell, among others.

    Solvent Market Segmentation

    Solvent type Outlook (USD Million, 2019-2030)

    • Alcohols
    • Ketones
    • Esters
    • Aromatic
    • Aliphatic
    • Other

    Solvent Source Outlook (USD Million, 2019-2030)

    • Petrochemical-Based
    • Bio-based Solvents

    Solvent Application Outlook (USD Million, 2019-2030)

    • Paints And Coatings
    • Adhesives
    • Pharmaceuticals
    • Cosmetics and Personal care
    • Other

    Solvent Regional Outlook (USD Million, 2019-2030)

    • North America Outlook (USD Million, 2019-2030)

      • North America Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • North America Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • North America Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • US Outlook (USD Million, 2019-2030)

      • US Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • US Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • US Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • Canada Outlook (USD Million, 2019-2030)

      • Canada Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Canada Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Canada Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

    • Europe Outlook (USD Million, 2019-2030)

      • Europe Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Europe Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Europe Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • Germany Outlook (USD Million, 2019-2030)

      • Germany Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Germany Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Germany Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • France Outlook (USD Million, 2019-2030)

      • France Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • France Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • France Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • UK Outlook (USD Million, 2019-2030)

      • UK Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • UK Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • UK Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • ITALY Outlook (USD Million, 2019-2030)

      • Italy Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Italy Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Italy Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other
        •  

      • Spain Outlook (USD Million, 2019-2030)

      • Spain Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Spain Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Spain Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • Rest Of Europe Outlook (USD Million, 2019-2030)

      • Rest of Europe Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Rest of Europe Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Rest of Europe Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

    • Asia-Pacific Outlook (USD Million, 2019-2030)

      • Asia-Pacific Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Asia-Pacific Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Asia-Pacific Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • China Outlook (USD Million, 2019-2030)

      • China Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • China Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • China Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • Japan Outlook (USD Million, 2019-2030)

      • Japan Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Japan Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Japan Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • India Outlook (USD Million, 2019-2030)

      • India Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • India Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • India Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • Australia Outlook (USD Million, 2019-2030)

      • Australia Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Australia Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Australia Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • Rest of Asia-Pacific Outlook (USD Million, 2019-2030)

      • Rest of Asia-Pacific Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Rest of Asia-Pacific Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Rest of Asia-Pacific Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

    • Middle East & Africa Outlook (USD Million, 2019-2030)

      • Middle East & Africa Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Middle East & Africa Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Middle East & Africa Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • Saudi Arabia Outlook (USD Million, 2019-2030)

      • Saudi Arabia Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Saudi Arabia Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Saudi Arabia Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • UAE Outlook (USD Million, 2019-2030)

      • UAE Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • UAE Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • UAE Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • South Africa Outlook (USD Million, 2019-2030)

      • South Africa Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • South Africa Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • South Africa Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • Rest of Middle East & Africa Outlook (USD Million, 2019-2030)

      • Rest of Middle East & Africa Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Rest of Middle East & Africa Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Rest of Middle East & Africa Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

    • South America Outlook (USD Million, 2019-2030)

      • South America Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • South America Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • South America Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • Brazil Outlook (USD Million, 2019-2030)

      • Brazil Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Brazil Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Brazil Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • Argentina Outlook (USD Million, 2019-2030)

      • Argentina Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Argentina Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Argentina Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

      • Rest of South America Outlook (USD Million, 2019-2030)

      • Rest of South America Solvent by Type
        • Alcohols
        • Ketones
        • Esters
        • Aromatic
        • Aliphatic
        • Other
      • Rest of South America Solvent by Source
        • Petrochemical-Based
        • Bio-based Solvents
      • Rest of South America Solvent by Application
        • Paints And Coatings
        • Adhesives
        • Pharmaceuticals
        • Cosmetics and Personal care
        • Other

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