Infinium Global Research Aromatic and Aliphatic Solvents Market | Page 11

A r omatic and Aliphatic Solvents Market Global Industry Analysis, Trends, Market Size & Forecasts to 2023
GLOBAL AROMATIC AND ALIPHATIC SOLVENTSMARKET CAGR GROWTH BY
REGIONS
GLOBAL AROMATIC AND ALIPHATIC SOLVENTSMARKET, CAGR GROWTH BY REGIONS (2017 – 2023)
x.x
%
x.x
%
x.x
%
North America
Europe
Asia
The demand for conventional solvents is making way for bio-based solvents in the
European aromatic and aliphatic solvents market. Germany drives the growth of
the European market, which is otherwise a matured market. In Asia-Pacific region,
the increased market penetration of aliphatic solvents is anticipated to drive the
growth of the market, with more potential left to tap in the middle-eastern
countries, which are having construction boom. Asia-Pacific region has a major
share in the global aromatic solvents market, due to high volume of consumption,
especially in China and Korea. Growth in automotive and construction industries is
expected to drive the growth of the market in the region. The U.S. is expected to
drive North-American aromatic and aliphatic solvents market to a moderate growth
due to the increasing demand from pharmaceuticals, conventional oil & gas, and
shale gas industries. In Latin America, the demand for aromatic solvents from
countries such as Argentina, Brazil and Venezuela are expected to drive the market
to a steady growth. Developing countries in rest of the world are expected to
provide growth opportunities for the major players in the market to expand, as
they have less stringent environmental regulations, when compared to the
matured economies, during the forecast period.
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