Global oxygenated solvents market expected to reach $71.20 billion by 2032 with CAGR 7.76%.

From GlobeNewswire: 2025-06-24 10:00:00

The global oxygenated solvents market was valued at USD 39.17 billion in 2024, projected to reach USD 71.20 billion by 2032 with a CAGR of 7.76%. Urbanization, infrastructure development, and rising healthcare demand are driving growth, with a shift towards bio-based and low-VOC solvents due to environmental concerns and regulatory support.

The U.S. market for oxygenated solvents was valued at USD 6.76 billion in 2024, expected to hit USD 13.84 billion by 2032 at a CAGR of 8.92%. Key players driving growth include BASF SE, Linde plc, and CF Industries Holdings, Inc., benefiting from a strong industrial base and high demand in key industries.

Bio-based and green solvents hold a 66% market share, with glycol ethers leading in revenues at 31.34%. Paints and coatings account for 34% of global market share, with Asia Pacific dominating at 42.23% due to rapid industrialization. Recent developments include BASF SE’s introduction of EcoSolv and LyondellBasell Industries N.V.’s facility upgrade plans.

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