Global High Purity Solvents Market to exceed USD xx billion by 2030 from USD xx billion in 2020 at a CAGR of 7.4% in the coming years, i.e., 2021-30.
Many end-user industries rely heavily on high-purity chemicals. High-Performance Liquid Chromatography (HPLC) solvent is in high demand in the pharmaceutical, biotechnology, cosmetics, and chemical industries. HPLC solvents such as acetonitrile and methanol are purified using modern technology to ensure that they are free of UV-absorbing contaminants. Dry-etching gases are another significant high purity chemical. These gases are in significant demand in the semiconductor industry for ultrafine manufacture of LSI devices and other IC products. Silicon wafers in semiconductor devices are cleaned with high purity aqueous ammonium. It has been refined to the point that no residues of metal ion particles can be found.
Global High Purity Solvents market is expected to project a notable CAGR of 7.4% in 2030.
The growing application of n-heptane solvent as a test fuel component in anti-knock engine testing is boosting the market for high purity solvents forward. The life sciences segment’s growing application of high purity solvents for the fabrication of lab consumables could be a market driver for high purity solvents.
Global High Purity Solvents: Segments
Spectrophotometric segment to grow with the highest CAGR during 2020-30
Global High Purity Solvents market is segmented by type into spectrophotometric solvents, UHPLC and LC/MS solvents, HPLC solvents, GC solvents, and others. The spectrophotometric segment held the largest market share in the year 2020. The demand for spectrophotometric solvents is soaring because to its speedy analytical capabilities, which make it simple to use and have broadened its applicability in a variety of industries.
Catalysts segment to grow with the highest CAGR during 2020-30
Global High Purity Solvents market is divided by application into liquid crystals, lithium-ion batteries, electroplating, resins, catalysts, and others. The catalysts segment held the largest market share in the year 2020 because of its suitability for various types of products that can be manufactured at normal temperature, which has been increasing in industrial manufacturing processes.
Usage in high-performance coating and reliance in various industries
Their use in the production of high-performance coatings is fueling demand across the globe. Because solvents are utilized in paints and coatings applications in various industries, the market is strongly reliant on growth in construction, automobile, shipbuilding, and aviation production. Despite the fact that the COVID-19 situation has had a negative impact on the market in these areas, there will be a huge need for these high-quality Solvents in the long run.
Increased usage in life sciences
The increasing usage of n-heptane solvent as a test fuel component in anti-knock engine testing is one of the market’s driving forces. The increased use of high purity solvents in the life sciences segment for the fabrication of lab consumables is also a key driver for this market.
Health risks in nervous and reproductive system
The widespread use of high purity solvents has health risks, such as toxicity in reproductive and nervous systems, which may reduce demand for high purity solvents and stifle growth in the global market.
Global High Purity Solvents: Key Players
Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis
The Dow Chemical Company
Bayer Material Science
Ineos Group AG
Other Prominent Players
Global High Purity Solvents: Regions
Global High Purity Solvents market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. The market for High Purity Solvents is dominated by APAC due to the rising demand for paints and coatings, as well as adhesives and sealants While the use of these solvents to make printing inks and a variety of pharmaceutical goods is predicted to gain traction, the market is expected to rise due to rising demand for paints and coatings from the automotive and construction industries.
Global High Purity Solvents is further segmented by region into:
North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil, and Rest of Latin America
Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey, and Rest of Europe
Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia, and Rest of APAC
Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa, and Rest of MENA
Global High Purity Solvents report also contains analysis on:
High Purity Solvents Segments:
UHPLC and LC/MS solvents
High Purity Solvents Dynamics
High Purity Solvents Size
Supply & Demand
Competition & Companies Involved in the Market
Value Chain of the Market
Market Drivers and Restraints
High Purity Solvents Market Report Scope and Segmentation
Report Attribute Details
Market size value in 2020 USD xx billion
Revenue forecast in 2030 USD xx billion
Growth Rate CAGR of 7.4% from 2021 to 2030
Base year for estimation 2020
Quantitative units Revenue in USD million and CAGR from 2021 to 2030
Report coverage Revenue forecast, company ranking, competitive landscape, growth factors, and trends
Segments covered Type, application, and Region
Regional scope North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
Key companies profiled Sabic, BASF SE, Asahi Kasei Corporation, Linde, Thermo Fisher Scientific Inc., High Purity Laboratory Chemicals Pvt. Ltd., Apchem Pvt. Ltd., Evonik Industries AG, Merck KGaA, and Other Prominent Players