Oil & Gas Industry Accounts for Over One-third Revenue Share of Global Aprotic Solvents Market: Fact.MR

As per in-depth industry analysis by Fact.MR, a market research and competitive intelligence provider, the global demand for aprotic solvents is anticipated to rise at a CAGR of 4.2% from 2022 to 2032.

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.

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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

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Key Segments Covered in Aprotic Solvents Industry Research

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

• Aprotic Solvents Market by Source :
o Bio-based Aprotic Solvents
o Conventional Aprotic Solvents

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

• Aprotic Solvents Market by Region :
o North America
o Europe
o Asia Pacific
o Latin America
o Middle East & Africa

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Winning Strategy

Companies are increasingly focusing on various strategies to increase their global reach in order to target emerging markets with strong development potential and a thriving industrial sector.
Mergers and acquisitions are on the upswing, as are strategic collaborations and greener alternatives to popular product types being sought. Growth prospects in the pharmaceutical and oil and gas sectors could help aprotic solvent suppliers achieve long-term success.
For instance,
• In 2019, HE-70S, a largely sustainable solvent made from sugarcane ethanol, was introduced by Braskem. This new product will aid the company’s chemical product portfolio expansion.

For More Insights
https://www.globenewswire.com/news-release/2022/05/26/2450859/0/en/Irreversible-Thermochromic-Materials-to-Hold-More-Than-50-Market-through-2032-States-Fact-MR.html

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global aprotic solvents market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of product (N-methyl-2-pyrrolidone, toluene, benzene, acetone, and others), source (bio-based and conventional), and end use (oil & gas, pharmaceuticals, paints & coatings, electrical & electronics, and other end uses), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).

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