Oxygenated Solvents Market size was valued at US$ 21.82Bn in 2018 and is expected to reach USD XX Bn by 2026, at a CAGR of XX %.
An oxygenated solvent contains oxygen as a part of molecule structure, with low toxicity and high solvency. These solvents are commonly used in pharmaceuticals, perfumes, paints, inks and food processing. Glycols, alcohols, ketones, bio & green solvents, and esters are various types of oxygenated solvents. Owing to its low toxicity and high solvency coupled with high-end use industry demand drives the market for the oxygenated solvent market.
Plastisol Market, By Geography
By source, bio & green solvent is expected to be one of the fastest-growing segments during the forecast period. Growth of this segment can be attributed to its use of renewable sources as raw materials along with its non-toxic and eco-friendly nature. Alcohol solvent segment is expected to be the largest, in terms of volume owing to its low cost and high dissolution.
Asia-Pacific will form the largest market for oxygenated solvents along with monitoring one of the fastest growths. This can be accredited to the high investment of the private sector in construction, automotive, agriculture, and pharmaceutical industry. India and China are two major countries within the Asia Pacific region that have contributed to the growing demand for this market during the forecast period.