Distillative Separation and Specialty Production Capabilities Help Manufacture High-purity Solvents
High purity solvents are important raw materials for a range of demanding applications. Pharmaceuticals and electronics industries hold lucrative incremental opportunities for manufacturers in the solvents market. As such, manufacturers are acquiring proficiency in distillative separation and specialty production capabilities to increase the availability of high purity solvents. They are boosting output capacities for high purity hydrocarbons whilst ensuring the security of supply for their production processes.
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Leading-edge Coatings and Paints Offer Long-lasting Protection Owing to Solvent Formulations
Solvents play an instrumental role in the production of paints and coatings. Manufacturers in the solvents market are establishing stable revenue sources in the paints coatings industry. However, paint manufacturers face issues of contamination in paint products due to unwanted or wrong aromatics. Hence, manufacturers are increasing the availability of high purity solvents with the help of strict quality checks.
Rising Demand for Solvents in Construction and Manufacturing Industries
The global solvents market is likely to witness steadily rising demand from construction and manufacturing industries. Therefore, exemplary growth of these industries in emerging markets will tip scales in favor of the global solvents market. The demand for solvents in the construction sector in BRIC nations is expected to rise considerably over the next few years. Solvents are increasingly used in pharmaceuticals, printing inks, adhesives sealants, and other applications. Besides these, demand for organic solvents is high across the globe, creating lucrative prospects for the market growth.
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Stringent Regulations to Hinder Market
On the downside, volatility in crude oil prices in international markets and soaring environmental concerns is likely to create obstacles in the growth for the global solvents market. Additionally, the market may find it difficult to continue at a strong pace in the U.S. due to rising legislations controlling the use and production of solvents in the country.
Favorable regulatory measures encouraging the use of organic solvents have bolstered opportunities for “green solvents”, which are more environment-friendly. Furthermore, the market is likely to derive benefits from the steady demand across developed markets.
The market is likely to gain impetus from the rise in residential and commercial projects worldwide. This, coupled with the increasing demand for automobiles in emerging nations, is expected to boost the market through the forecast period. Given the scenario, rise in demand for solvents in emerging nations such as India and China is estimated to drive the solvents market in the near future.
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Contingency Planning Overcomes Supply Chain Hiccups during Coronavirus Crisis
Manufacturers in the solvents market are maintaining optimum inventory levels for raw materials to ensure robust supply of products during the ongoing coronavirus crisis. They are focusing on key revenue generating industries such as pharmaceuticals, cleaning agents and paints to keep economies running. Companies in the solvents market are devising strategies to overcome supply chain hiccups. This is being achieved by adopting contingency planning which helps to overcome volatile demand and supply sentiments.
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Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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