Oxygenated Solvents Market to reach USD 71.38 Billion, Status and Forecast 2029

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Oxygenated Solvents Market by Source (Conventional solvent, Bio & Green solvent), Type (Alcohols, Esters, Glycols, Glycol Ethers, Ketones, Bio & Green Solvents, Others), Application (Paints & Coatings, Pharmaceuticals, Personal Care, Crop Protection, Lubricants, Others) and Region, Global trends and forecast from 2022 to 2029

The oxygenated solvents market is expected to grow at 8.43% CAGR from 2022 to 2029. It is expected to reach above USD 71.38 billion by 2029 from USD 27.14 billion in 2020.

Distilling chemical components produces oxygenated solvents, which help the final product’s components to be balanced and consistent. The term “oxygenated solvents” refers to organic solvents with oxygen molecules. Due to the essential solvent refining operations that minimize surplus water and particle matter that occur during various manufacturing stages, oxygenated solvents are noted for their exceptionally high purity rates.

Segment Analysis
The market is divided into two segments, based on the source: conventional solvent and bio & green solvent. The fastest expanding market segment is thought to be bio and green solvents, which have substituted the use of conventional solvents globally. Demand for traditional solvents in the manufacturing industries has been replaced by consumer responsiveness to adopting eco-friendly and safe products. Comparatively speaking, these conventional solvents include higher levels of VOCs, which can be minimized by utilizing bio and green solvents. Since they are made from renewable raw materials, bio and green solvents have a higher purity level than conventional solvents.

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