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Global Exempt Solvents Market Will Reach USD 2.42 Billion by 2022: Zion Market Research

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.

/EIN News/ -- Sarasota, FL, Aug. 04, 2017 (GLOBE NEWSWIRE) -- 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. 

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.  

Browse through 10 Market Tables and 13 Figures spread through 110 Pages and in-depth TOC on "Global Exempt Solvents Market: By Type, Application Size, Share, Supply, Demand, Analysis and Forecast 2016 – 2022”.

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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.

Browse the full " 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" report at https://www.zionmarketresearch.com/report/exempt-solvents-market

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. 

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Europe dominated the exempt solvent market in 2016 and is likely to experience lucrative growth in the forecast period. The Large automotive sector in this region is the key factor contributing to the high growth of exempt solvents. Moreover, the presence of a major player in Europe is expected to spur the exempt solvents market. 

North America is the second largest exempt solvents market in 2016. The key revenue contributing countries in the region are U.S., Canada, and Mexico. The automotive sector in U.S is expected to enhance the demand for exempt solvents for coating applications. In addition, the demand for cosmetics and consumer products in this region is expected to assist the growth of the exempt solvents market. The stringent regulations in the region are also expected to drive the demand for exempt solvents. Moreover, growing infrastructure in this region is expected to spur the growth of the exempt solvent in the forecast period.

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Asia Pacific is likely to witness lucrative growth for the exempt solvents market owing to sharp rise in demand for exempt solvent from the emerging economies in the region. Rising construction activities in China and India is expected to foster the growth of the exempt solvent in the upcoming years. The growing automotive sector in the region is also expected to drive the growth of the exempt solvents market. In addition, the growing demand for cosmetics, consumer goods, packaged food products etc. in Asia Pacific are also expected to boost the demand for exempt solvents in the coming years. Availability of workforce pulls the major manufacturing hub to invest in these regions.

Latin America is expected to witness moderate growth in the coming years. The construction activities fuelled by the growth of the tourism sector in the region are also anticipated to propel the growth of the exempt solvents market in the coming years. The Middle East and Africa is likely to witness modest growth in recent times. However, the Middle East and Africa is expected to experience decent growth in the forecast period owing to the infrastructure and remodeling activities in the GCC countries.

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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.

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

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