Press Release

Paints & Coatings Segment to Emanate High Demand for Solvent until 2024

Increasing utilization of solvents in various industry verticals such as manufacturing, automotive, among others to drive India solvent market through 2024

According to TechSci Research report, India Solvent Market By Product Type, By Application, Competition, Forecast & Opportunities, 2024, India solvent market is anticipated  to witness growth during the forecast period on account of growing utilization of solvent in various end user industries. Solvents are used to dissolve other substances without changing their physical properties, which is driving their demand across India. However, increasing health hazard concerns pertaining to the use of some solvents might hamper the growth of the market.

Browse market data Tables and Figures spread through 110 Pages and an in-depth TOC on " India Solvent Market "

India solvent market can be segmented based on the product type, application and regional analysis. On the basis of product type, the market can be segmented into alcohols, chlorinated solvent, ketones, hydrocarbon solvent, ester glycol, glycol ether, among others. Ester which is a type of oxygenated solvent is poised to grow at an impressive rate in the forthcoming years due to utilization of esters in applications such as paint and coating, among others. In terms of application, paints & coatings is one of the major applications of solvents in India as paints & coatings used in India are generally water based. Moreover, increasing demand for paint and coating is directly influencing the growth of the India solvent market.

Some of the players operating in India solvent market include BASF India Limited, Exxon Mobil Corporation, Royal Dutch Shell plc., The Dow Chemical Company, Solvay S.A., Ashland Inc., Bharat Petroleum Corporation Limited, India Glycols Limited, Hindustan Petroleum Corporation Limited, Eastman Chemical Company among others. Players operating in the market are focusing on raw material manufacturing and investing in R&D so as to ensure sound returns.

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 “India solvent market is anticipated to grow at rapid pace during forecast period on account of growing population, rapid urbanization and growth in sectors such as agriculture, construction and automotive, among others in the country. Moreover, presence of favorable regulations when compared with developed economies and steps taken by the government for the growth of chemical industry are further anticipated to positively influence the growth of India solvent market.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

India Solvent Market By Product Type, By Application, Competition, Forecast & Opportunities, 2024 has evaluated the future growth potential of India solvent market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decision. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in India solvent market.

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