The global aprotic solvents market is projected to increase from a valuation of US$ 18.15 billion in 2021 to US$ 28.18 billion by 2032, expanding at a CAGR of 4.2%.
Aprotic solvent usage in the oil & gas industry is likely to increase at 4.5% CAGR owing to rising demand for fossil fuels and petrochemical products.
Considering all these factors, the global market for aprotic solvents is projected to witness a CAGR of 4.2% to reach a valuation of US$ 28.18 billion by 2032.
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manufacturing technology and several innovations in aprotic solvents are driving market growth
Significant advancements in manufacturing technology and several innovations in aprotic solvents are driving market growth. Aprotic solvents are used in agriculture to increase output, improve product quality, and lower production costs. Other factors such as rising demand for consumer goods such as perfumes, as well as intensive research and development (R&D) efforts and greater focus on sustainable development, are expected to propel the market forward.
The pharmaceutical business is increasing its demand for aprotic solvents. Aprotic solvents are utilized in the production of a wide range of medications and goods. Antibacterial lotions and ointments are made with them. Purification and extraction of chemical substances are also performed with these solvents.
Growing regulatory monitoring and rising public awareness of issues such as health and the environment are driving demand for bio-based solvents in paints & coatings and other industries. The toxic volatile organic chemicals released by various synthetic solvents are a growing source of concern in the industry, and aprotic solvents are being considered a viable remedy. Huge global large pharmaceutical sector and improved production extensions in terms of technological innovation are some of the significant factors that are expected to accelerate the demand for bio-based polar aprotic solvents over the coming years.
Key Takeaways from Market Study
• Global sales of aprotic solvents to reach valuation of US$ 28.18 billion by 2032.
• Market for aprotic solvents in North America is projected to increase at CAGR of 4.1% over forecast period.
• Sales of Aprotic Solvents in APAC accounts for 28.5% share of global market.
• Oil & gas industry expected to rise at CAGR of 4.5% from 2022 to 2032.
“Growing usage of green solvents due to their biodegradability, recyclability, and corrosion resistance, as well as increased R&D activities, are likely to create significant opportunities for aprotic solvent manufacturers over the coming years,” says a Fact.MR analyst
The global market for aprotic solvents is fragmented, characterized by the presence of well-established and diverse regional and international manufacturers. Aprotic solvent manufacturers are focusing on product quality and development to strengthen their market positions.
For instance :
- In April 2019, Merck introduced Cyrene, a novel dipolar aprotic solvent. This novel bio-derived product is not poisonous.
Key Companies Profiled
- Eastman Chemical Company
- BASF SE
- AlzChem Group AG
- China National Petroleum Corporation
- Merck KGaA
- Celanese Corporation
- Vizag Chemical International