Austin, June 24, 2025 (GLOBE NEWSWIRE) -- The global oxygenated solvents market was valued at USD 39.17 billion in 2024 and is expected to be USD 71.20 billion by 2032, growing at a compound annual growth rate (CAGR) of 7.76% during the forecast period of 2025 to 2032.
The expansion is the rapid rate of urbanization and infrastructure development, especially in developing countries, which is speeding up the construction works and thus driving the application of paints, coatings, and sealants, all of which employ oxygenated solvents due to their improved solvency and fast rate of evaporation. In addition, the rising demand for health care and pharmaceutical manufacturing globally has encouraged the application of solvents like isopropanol and ethanol in medicals and disinfectants.
In addition, increasing environmental consciousness and support from governing bodies have triggered the transition towards bio-based and low-VOC oxygenated solvents, stimulating innovation and product development by market leaders. All these factors are playing a vital role in driving the market's continued growth.
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The size of the U.S. Market was at USD 6.76 billion in 2024 and is likely to reach USD 13.84 billion by 2032, growing at a CAGR of 8.92% during the forecast period of 2025-2032. It is attributed to its sound industrial base, advanced manufacturing technology, and high demand in key industries such as pharmaceuticals, paints and coatings, and agrochemicals. It also boasts a few of the biggest chemical and solvent industry giants in the global, which implies consistent production, innovation, and supply chain efficiency.
Key Players:
- BASF SE
- Linde plc
- CF Industries Holdings, Inc.
- Nutrien Ltd.
- Yara International ASA
- OCI Nitrogen
- Deepak Fertilizers and Petrochemicals Corporation Ltd.
- Dyno Nobel
- Sinopec
- Mitsubishi Chemical Corporation
Oxygenated Solvents Market Report Scope:
| Report Attributes | Details |
| Market Size in 2024 | USD 39.17 Billion |
| Market Size by 2032 | USD 71.20 Billion |
| CAGR | CAGR of 7.76% From 2025 to 2032 |
| Base Year | 2024 |
| Forecast Period | 2025-2032 |
| Historical Data | 2021-2023 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Drivers | • Rising demand from the paints & coatings industry drives the market growth. |
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Oxygenated Solvents Market Segmentation
By Source
Bio-based and green solvents held the largest market position of the oxygenated solvents industry at around 66% of the total market in 2024, driven by a worldwide trend towards chemical solutions that are environmentally friendly and sustainable. As erns about air pollution, worker safety, and the environmental impact of traditional petroleum-based solvents have grown, industries have been utilizing greener solvents with lower toxicity, lower VOC emissions, and biodegradability.
By Type
The glycol ethers segment had the largest proportion of the oxygenated solvents market in 2024, with approximately 31.34% of global revenues. This is attributed to its wide range of uses and satisfactory performance properties. Glycol ethers have broad applications in paints and coatings, printing inks, cleaners, and electronics owing to their strong solvency, low volatility, and satisfactory compatibility with water and organic solvents. Their ability to dissolve a wide range of resins and chemicals makes them essential in the production of high-performance coatings and cleaning formulations.
By Application
The paints and coatings sector were the biggest market for oxygenated solvents, representing about 34% of the global market share. This is due to the rapid growth in the construction, automotive, and industrial sectors of both developed economies and emerging economies. Oxygenated solvents are major ingredients in paint and coating formulations since they enhance flow, allow easy drying times, and ensure consistent application.
Regional Analysis
Asia Pacific dominated the world market's highest share in oxygenated solvents in 2024 with approximately 42.23% of revenues. It is propelled by the rapid industrialization, urbanization, and high expansion of prominent end-use industries such as construction, automobiles, pharmaceuticals, and electronics in the region. These countries are China, India, Japan, and South Korea, which are all major players supported by enormous manufacturing bases, fast-growing middle-class consumers, and increasing consumer goods and infrastructure investment needs. In particular, China is the largest oxygenated solvents producer and consumer due to its enormous chemical industry and fast-growing construction and auto industries.
Recent Developments
- In April 2025 saw BASF SE introduce EcoSolv, a glycol ether product range based on renewable raw materials. The action is part of increased customer pressure for sustainable solutions in coatings and industrial cleaning use.
- In December 2024 saw LyondellBasell Industries N.V. announced plans to spend USD 200 million on its Houston, Texas-based oxygenated solvents manufacturing facility upgrade.
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