High Purity Solvents Market

High-purity solvents are organic chemicals that have been synthetically distilled and have a wide range of industrial applications. They are essential for making complex Grignard reactions in the lab and are very important for improving the production of agrochemicals and pharmaceuticals.

The high-purity solvents market is divided into aromatics, aliphatic hydrocarbons, cycloalkanes, and others based on product type. The aromatics segment dominates the market with a share of over two-thirds of the total value in 2018. This segment includes ethylbenzene, isobutyl benzene, naphtha, and octane. Aliphatic hydrocarbons account for a significant portion of the cycloalkanes segment.

To capture a larger market share, such companies focus on developing new products and expanding their product portfolio. The main things driving the growth of this market are the growing use of advanced technologies in different industries, rising demand from the auto and aerospace industries, and rising spending on health care.

The high-purity solvents market is divided into product type and geography. First, the market is divided into three product categories: solvent-based paint and coatings, adhesives, sealants, and other adhesive products. On the geography front, it is segregated into North America, Europe, Asia Pacific, and Latin America.

BASF SE, Chevron Corporation, Idemitsu Kosan Co., Ltd., Mitsubishi Chemical Corp., and Teijin Limited are the market leaders in high-purity solvents.