Insight by Abdul Wasay, Chief Operating Officer at The Business Research Company
In response to fluctuating tariffs and geopolitical trade developments, the High Purity Solvent Market Outlook 2025 analyses how businesses are adapting through supply chain diversification and strategic sourcing.
What Is the Forecasted Market Size and CAGR for the High Purity Solvent Market?
The High Purity Solvent market has seen solid growth in the past few years. The market size is projected to increase from $60.38 billion in 2024 to $64.82 billion in 2025, representing a compound annual growth rate (CAGR) of 7.3%.
What Is the Forecasted CAGR for the High Purity Solvent Market by 2029?
The High Purity Solvent market is projected to reach $99.78 billion in 2029, growing at a compound annual growth rate (CAGR) of 11.4%.
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What Are the Market Drivers in the High Purity Solvent Industry?
The key Drivers in the high purity solvent market are:
• Rising demand for paints and coatings
• Utilization of high purity solvents in creating paint and coating formulations
• Increased dissolution of multiple components used in paint production
• Significant expansion in the coatings industry
What Is the Segment-Wise Breakdown of the High Purity Solvent Market?
The high purity solventmarket covered in this report is segmented –
1) By Type: Acetone, Acetonitrile, Dimethyl Sulfoxide, Other Types
2) By Category: Polar Solvent, Non-Polar Solvent
3) By Applications: Liquid Crystal Displays, Lithium-Ion Batteries, Electroplating, Polymer Resins, Catalysts, Other Applications
4) By End-User: Pharmaceutical, Chemicals, Cosmetics And Personal Care, Food And beverages, Agriculture, Paints And Coatings, Biotechnology, Electrical And Electronics, Other End Users
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Which Emerging Trends Are Driving Growth in the High Purity Solvent Sector?
The key trends in the high purity solvent market are:
• The high purity solvents market is being shaped by progressive efforts towards the creation of bio-derived products.
• Many major companies in the sector are using renewable resources as alternatives to crude-oil based solvents.
• Innovations in the sector are encouraging the development of eco-friendly products that deal directly with the climate crisis.
• Consumer goods like detergents, shampoos, paints, and industrial lubricants are increasingly utilizing solvents produced with high bio-based carbon content.
Which Companies Are Dominating the High Purity Solvent Market in Terms of Revenue?
The key players in the high purity solvent market are:
• Exxon Mobil Corporation
• MP Biomedicals LLC
• BASF SE
• Dow Inc.
• Thermo Fisher Scientific Inc.
• Honeywell International Inc.
• The Merck Group
• Asahi Kasei Corporation
• Evonik Industries AG
• DuPont de Nemours Inc.
• Akzo Nobel N.V.
• Mitsubishi Chemical Corporation
• Avantor Inc.
• VWR International LLC
• Kanto Chemical Co. Inc.
• Alfa Aesar
• Spectrum Chemical Mfg. Corp.
• J.T.Baker
• Tokyo Chemical Industry Co. Ltd.
• GFS Chemicals Inc.
• Tedia Company Inc.
• High Purity Laboratory Chemicals Pvt. Ltd.
• Apchem Life Science Pvt. Ltd.
• Pharmco-AAPER
• EMD Millipore Corporation
• Ricca Chemical Company
• Fisher Scientific
• Macron Fine Chemicals
• Chem-Supply Pty. Ltd.
What Are the Regions Driving Demand in the High Purity Solvent Market?
Asia-Pacific was the largest region in the high purity solvent market in 2024
