How big is the Solvent Market | Industry Trends & Forecast 2025

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Code: MTA9103

Publication Date: Sep 2025

What is the size of Solvent Market?

According to 6Wresearch internal database and industry insights, the Global Solvent Market was valued at USD 36 Billion in 2024 and is expected to reach USD 48 Billion by 2031, growing at a compound annual growth rate of 5.60% during the forecast period (2025-2031).

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The primary reasons for the growth in the Solvent Market are an increase in demand from the paints, coatings, and adhesives industries, and an increase in applications such as green solvents and bio-based solvents that meet regulatory and sustainability criteria.

Growth Factors for Solvents Industry

Increased use of solvents in paints, coatings, and printing inks.
Increasing pharmaceutical production requiring high-quality solvents.
Increased use of solvents in adhesives and sealants, particularly in construction and packaging.
A shift toward increasing use of bio-based solvent alternatives and environmentally safe solvents.
The creation of specialty solvents made for electronics or chemical processing.

Solvent Market Trends

The trends in the Solvent Market indicate a stronger movement to sustainable, eco-friendly formulations, with companies emphasizing principles of green chemistries to reduce volatile organic compounds (VOCs) while still meeting performance specifications in coatings and adhesives. Another important trend developing in the Solvent Market is the increased dependence by the pharmaceutical sector for high-quality solvents. The demand for solvents increasingly requires lower toxicity due to the safety standards imposed on the industry for drug development and manufacturing.

Emerging Developments in the Solvent Market

The Solvent Market developments include continuous innovation in bio-based solvents derived from renewable feedstocks such as corn, sugarcane, and soy. These solutions are increasingly being adopted in coatings, cleaning agents, and personal care applications. Further developments in the Solvent Market involve the expansion of customized solvent blends for electronic components and precision cleaning. Strategic collaborations are enhancing R&D and driving wider adoption across industries.