Industrial Solvents Market

ID: MRFR/CnM/6437-HCR

140 Pages

Chitranshi Jaiswal

October 2025

Industrial Solvents Market Research Report Information Type (Oxygenated [Alcohols, Glycols, Ketones, Ethers, Glycol Esters] and Hydrocarbon [Aromatic and Aliphatic]), End-Use Industry (Chemical, Paints & Coatings Textile, Pulp & Paper, Pharmaceuticals, Oil & Gas and other Industrial) and Region (Asia-Pacific, North America, Europe, Latin America, and others) - Forecast till 2035

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Summary Table of Contents Segmentation Download PDF

1. Market Overview

2. Market Trends

3. Market Segment Insights

4. Key Players and Competitive Insights

5. Industry Developments

6. Market Segmentation

7. Report Scope

8. Market Highlights

9. FAQs

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Industrial Solvents Market Summary

The Global Industrial Solvents Market is projected to grow from 51.84 USD Billion in 2024 to 103.85 USD Billion by 2035, reflecting a robust growth trajectory.

Key Market Trends & Highlights

Industrial Solvents Key Trends and Highlights

The market is expected to experience a compound annual growth rate (CAGR) of 6.67% from 2025 to 2035.
By 2035, the market valuation is anticipated to reach 105.4 USD Billion, indicating substantial growth potential.
in 2024, the market is valued at 51.84 USD Billion, laying a solid foundation for future expansion.
Growing adoption of eco-friendly solvents due to increasing environmental regulations is a major market driver.

Industrial Solvents Market

CAGR

6.52%

Market Size & Forecast

2024 Market Size	51.84 (USD Billion)
2035 Market Size	103.85 (USD Billion)
CAGR (2025-2035)	6.52%

Major Players

BASF SE (Germany), BP Plc (UK), Exxon Mobil Corporation (US), LyondellBasell Industries (The Netherlands), Royal Dutch Shell Plc (The Netherlands), Petroleo Brasileiro S.A (Brazil), DowDuPont (US), Total S.A. (France), SABIC (Saudi Arabia), Diacel Chemical Industries Ltd (Japan), Harmony Organics Pvt Ltd (India), Eternis Fine Chemicals (India), IGPL (India), Vinati Organics (India), Sinopec (China), SK Innovation (South Korea), LG Chemicals (Japan)

Industrial Solvents Market Drivers

Rising Demand from End-User Industries

The Global Industrial Solvents Market Industry experiences a robust demand driven by various end-user sectors, including paints and coatings, pharmaceuticals, and adhesives. As these industries expand, the need for solvents to facilitate production processes increases. For instance, the paints and coatings sector alone is projected to account for a significant share of the market, reflecting a growing trend towards eco-friendly and high-performance products. This demand is expected to contribute to the market's valuation of 51.8 USD Billion in 2024, with projections indicating a potential growth to 105.4 USD Billion by 2035, highlighting the critical role of solvents in these applications.

Key Companies in the Industrial Solvents Market market include

Industry Developments

Berkem group launched its new range of bio-based alkyd resins, which are all 100% based on renewable raw materials for architectural paints in March 2022 Groupe Berkem has developed a new range of alkyd resins that are made using only renewable raw materials – such as bio-based oils which would otherwise have been considered waste products from organic chemistry processes carried out using a solvent derived completely from biomass that results to at least one environment-friendly solution provided for architectural paints through oxidation process happening through air drying these films providing drying agents available within it thereby promoting even curing globally.

Berger Paints invested $39 million in developing their facility in India last year also painted; thus, increasing paint & coatings sectoral presence within themselves will fuel market demand during the projected period.

Braskem and NXT LEVEL Biochem, a Dutch company, conducted market research on renewable solvents in March 2021. Paints and coatings, agrochemicals, personal care products, and home care products are among the industrial segments whereby these bio-based products are targeted under this cooperation. In Latin America, several joint projects intend to offer greener solvent alternatives manufactured from sustainable raw materials.

BASF launched its new solutions for home care, industrial and institutional cleaning, and personal care at the SEPAWA Congress in Berlin in October 2023. BASF adds more sustainable alternatives to detergents, cleaners and personal care products with enzyme technology, biodegradable polymer, and a O/W emulsifiers.

Solvay announces the manufacture of Rhodiasolv IRIS, a solvent that is eco-friendly and forms part of the next generation. The company made this announcement from its site in Melle (France) in April 2022. The solvent does not burn easily besides being readily degradable or nonvolatile, being used in many applications, including formulating phytosanitary products, paint stripping remover & graffiti & resin clean-up industrial cleaning agrochemistry.

Intended Audience

Industrial solvents producers

Traders and distributors of industrial solvents

Industrial solvents associations

Industrial solvents potential investors

Raw material suppliers

Industrial solvents recycling

Future Outlook

Industrial Solvents Market Future Outlook

The Global Industrial Solvents Market is projected to grow at a 6.52% CAGR from 2025 to 2035, driven by increasing demand in various industries and advancements in solvent formulations.

New opportunities lie in:

Develop eco-friendly solvents to meet regulatory demands and consumer preferences.
Invest in R&D for high-performance solvents in emerging applications.
Expand distribution networks in developing regions to capture new market segments.

By 2035, the market is expected to exhibit robust growth, reflecting evolving industry needs and sustainable practices.

Report Scope

Report Attribute/Metric	Details
Market Size 2024	USD 51.84 Billion
Market Size 2035	103.85
CAGR	6.52% (2025 - 2035)
Base Year	2024
Forecast Period	2025 - 2035
Historical Data	2019 & 2020
Forecast Units	Value (USD Billion)
Report Coverage	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered	type, end-use industry, and region
Geographies Covered	North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Key Vendors	LG Chemicals (Japan), BASF SE (Germany), Exxon Mobil Corporation (US), BP Plc (UK), Petroleo Brasileiro S.A. (Brazil), LyondellBasell Industries (The Netherlands), Royal Dutch Shell Plc (The Netherlands), SABIC (Saudi Arabia), DowDuPont (US), Total S.A. (France), Diacel Chemical Industries Ltd (Japan), Eternis Fine Chemicals (India), Harmony Organics Pvt Ltd (India), IGPL (India), Vinati Organics (India), Sinopec (China), and SK Innovation (South Korea).
Key Market Opportunities	The growth of the industrial solvents market is expected to create new opportunities
Key Market Drivers	Rapid industrialization in emerging economies has increased the demand for industrial solvents.
Market Size 2025	55.22

Market Highlights

Author

Chitranshi Jaiswal

Research Analyst Level I

In her 3 years of experience in the market research field, she has handled critical cross-domain projects. She has an in-depth knowledge of market estimation & analysis, problem-solving, primary as well as secondary research, and team management.She holds an engineering degree and is an MBA professional from a well-known university, capable of evaluating the market and competitive conditions. An exceptional strategist with excellent communication skills and a passion for delivering cutting-edge & practical insights for the market. Proficient in multi-tasking, and can successfully deal with competing demands, while maintaining complete confidentiality. Generated business through active client and project development, networking, and high-quality responses. Her knowledge and skills have helped in making solid business decisions, securing funding from investors, and avoiding business failures.

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FAQs

What was the value of the Global Industrial Solvents Market in 2032?

Valuation of the Global Industrial Solvents Market had reached USD 87.27 Billion by 2032.

At what CAGR is the Global Industrial Solvents Market projected to grow during the forecast period?

Industrial Solvents Market is projected to expand at over 6.5% CAGR during the assessment period

Which is the largest end-use industry segment in the Global Industrial Solvents Market?

Paints & coatings is the largest end-use industry segment in the Global Industrial Solvents Market.

Which region holds the largest share in the Global Industrial Solvents Market?

Asia Pacific holds the largest share in the Global Industrial Solvents Market, followed by North America and Europe, respectively.

Who are the top players in the Global Industrial Solvents Market?

BASF SE (Germany), LG Chemicals (Japan), Exxon Mobil Corporation (US), Petroleo Brasileiro S.A. (Brazil), BP Plc (UK), LyondellBasell Industries (The Netherlands), SABIC (Saudi Arabia), Royal Dutch Shell Plc (The Netherlands), DowDuPont (US), Diacel Chemical Industries Ltd (Japan), Total S.A. (France), Eternis Fine Chemicals (India), IGPL (India), Harmony Organics Pvt. Ltd. (India), Vinati Organics (India), SK Innovation (South Korea), and Sinopec (China), are some of the major players operating in the Industrial Solvents Market.

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