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Aprotic Solvents Market

Aprotic Solvents Market

Aprotic Solvents Market By Product (N-Methyl-2-Pyrrolidone, Toluene, Benzene, Acetone), By Source (Bio-based, Conventional Aprotic Solvents), By End Use, By Region - Global Forecast 2022-2032

Aprotic Solvents Market
FACT7360MR

Aprotic Solvents Market Outlook (2022-2032)

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%.

Report Attributes

Details

Aprotic Solvents Market Size (2022)

US$ 18.72 Billion

Projected Market Value (2032)

US$ 28.18 Billion

Global Market Growth Rate (2022-2032)

4.2% CAGR

APAC Market Share (2022)

28.5%

Key Companies Profiled

  • Dow
  • Eastman Chemical Company
  • BASF SE
  • AlzChem Group AG
  • INEOS
  • China National Petroleum Corporation
  • Merck KGaA
  • Celanese Corporation
  • Ashland
  • Vizag Chemical International

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.

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Revenue Analysis of Aprotic Solvents (2017-2021) Vs Market Outlook (2022-2032)

From 2017 to 2021, the global aprotic solvents market registered a CAGR of 3.4%.

Aprotic solvents are those that lack an acidic hydrogen atom and are unable to supply a suitable hydrogen atom. There are two types of aprotic solvents by sources, such as bio-based aprotic solvents and conventional aprotic solvents. Aprotic solvents are more reactive and used to dissolve a wide range of compounds.

Rise of the construction and agriculture industries has increased the demand for agrochemicals as well as paints and coatings. Paints and agrochemicals are made with aprotic solvents. As a result, sales of aprotic solvents are expected to increase steadily over the coming years.

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.

Aprotic solvents market forecast by Fact.MR

Which Key Contributors are Driving Aprotic Solvent Consumption?

“Rising Penetration of Bio-based and Green Solvents across the World”

Growing demand for sustainable solutions, increased use of polar-aprotic solvents due to innovative features such as high dielectric permittivity, chemical inertness, and thermal properties, as well as growing usage in the production of gas and oil refining are driving the sales of aprotic solvents.

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.

Rapid expansion in the pharmaceutical industry, which is considered to be the fastest-growing application sector, will further contribute by offering enormous opportunities that will augment the sales of aprotic solvents over the forecast period.

What Roadblocks are Encountered by Aprotic Solvent Manufacturers?

“Raw Material Price Volatility Along With Stringent Regulations”

One of the major constraints to the overall development of the global aprotic solvents market is the potential danger of health risks from commonly used aprotic solvents to human and environmental health.

Environmental regulations continue to impose restrictions on the use and disposal of toxic chemicals, forcing the industrial sector to search for greener and safer alternatives.

Since aprotic solvents are both dangerous and flammable, transporting them is difficult for businesses in the industry. Price changes in raw materials may also limit industry expansion over the coming years.

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Which Region Accounts for High Consumption of Aprotic Solvents?

“Rising Initiatives for Construction Project Development Driving Market Growth in North America”

North America accounts for 34.5% share of the global aprotic solvents market owing to rising demand from several industries in the region, including oil & gas, automobiles, construction, and electronics. Because of established research institutes, new technology, and the presence of key players, North America dominates the aprotic solvents industry, with the United States being a prominent contributor.

Rising initiatives by government organizations for the development of construction projects and public infrastructure are driving market growth. Rising demand for eco-friendly paints & coatings driving the European aprotic solvents market.

Country-wise Insights

Why is the U.S. a Lucrative Market for Aprotic Solvent Suppliers?

“High Demand for Hydrocarbon Solvents in Pharmaceutical Industry

The U.S aprotic solvents market is anticipated to increase at a CAGR of 4% from 2022 to 2032, due to significant technological innovations and aprotic solvent research and development efforts.

Hydrocarbon solvents are largely employed in the pharmaceutical sector for topical and parental drug delivery-controlled release systems. The United States market has strong development potential and is projected to see lucrative expansion in the pharmaceutical and oil and gas industries, which is likely to boost demand for aprotic solvents.

What is the Aprotic Solvents Market Outlook for China?

“Rapid Expansion of Agriculture Industry to Drive Aprotic Solvent Consumption

The market in China is expected to rise at 5% CAGR over the forecast period of 2022 to 2032. Paints and coatings, as well as the pharmaceutical industry, are predicted to increase rapidly. In addition, the market is likely to benefit from rising demand from the electronics industry. The presence of a significant number of major paints and coatings companies is driving the demand for aliphatic solvents.

Aprotic solvents are used in agricultural mixtures and synthesis for insecticides, fungicides, and herbicides, among other things. Expansion of the agriculture industry in China is expected to augment demand for aprotic solvents.

Category-wise Insights

Which Aprotic Solvent Accounts for Highest Revenue Generation?

“N-Methyl-2-Pyrrolidone Dominant Owing to High Solvent Properties

The global aprotic solvents market is likely to be dominated by the N-methyl-2-pyrrolidone segment. Because of its high solvent capabilities, N-Methyl-2-pyrrolidone (NMP) is seeing increased demand from the oil & gas sector, which will help the industry grow.

Furthermore, extending the usage of NMP as a reaction solvent for agricultural and pharmaceutical chemicals, as well as a cleaning solution for electronic parts, is expected to drive aprotic solvents market revenue growth during the forecast period.

Which Aprotic Solvent End Use Accounts for Substantial Market Share?

“Expanding Usage of Aprotic Solvents in Oil & Gas Industry

The oil & gas industry accounts for 34.6% of the global aprotic solvents market. The oil and gas industry is expected to be the most significant, with the growing demand for petroleum products. Increased use of aprotic solvents in gas generation and oil refining is predicted to improve aprotic solvents demand.

NMP is one of the important products, and its ability to dissolve a wide spectrum of metals is expected to see widespread usage, particularly in the plastic and oil and gas industries. As a result, the oil and gas industry is predicted to expand its need for aprotic solvents during the projection period.

COVID-19 Impact on Consumption of Aprotic Solvents

The COVID-19 pandemic had a negative impact on the oil and gas industry. There was extremely little mobility of automobiles due to the government's lockout and limitations. This had a significant impact on the oil and gas industry, as well as the aprotic solvents market growth.

Furthermore, the pandemic harmed other end-user sectors such as adhesives, paints and coatings and plastics because construction operations were halted in most countries around the world.

However, increased medicine sales have boosted pharmaceutical industry growth, with bio-based dipolar aprotic solvents being frequently used as intermediates in drug formulations. One of the primary reasons driving an optimistic outlook for the market is the increased need for bio and green aprotic solvents across sectors.

This is expected to boost aprotic solvents industry growth over the coming years.

Competitive Landscape

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 Segments Covered in Aprotic Solvents Industry Research

  • Aprotic Solvents Market by Product :

    • N-Methyl-2-Pyrrolidone
    • Toluene
    • Benzene
    • Acetone
    • Others
  • Aprotic Solvents Market by Source :

    • Bio-based Aprotic Solvents
    • Conventional Aprotic Solvents
  • Aprotic Solvents Market by End Use :

    • Oil & Gas
    • Pharmaceuticals
    • Paints & Coatings
    • Electrical & Electronics
    • Other End Uses
  • Aprotic Solvents Market by Region :

    • North America
    • Europe
    • Asia Pacific
    • Latin America
    • Middle East & Africa

- FAQs -

The global aprotic solvents market is estimated to be worth US$ 18.72 billion in 2022.
Dow, Eastman Chemical Company, BASF SE, AlzChem Group AG, and INEOS are prominent manufacturers of aprotic solvents.
The aprotic solvents market is anticipated to increase at a CAGR of 4.2% through 2032.
North America accounts for 34.5% share of the global aprotic solvents market.
The U.S., Germany, Mexico, China, and U.K. account for most of the demand for aprotic solvents.
Growing demand from the oil and gas industry and increasing consumption in the pharmaceutical sector are driving market growth.

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