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Biofuels Market worth USD 245 48 Billion by 2027,
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Biofuels Market worth USD 245 48 Billion by 2027, registering a CAGR of 7 81% - Report by Market Research Future (MRFR)
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Biofuels Market worth USD 245 48 Billion by 2027, registering a CAGR of 7 81% – Report by Market Research Future (MRFR)
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Solvents Market worth $30.0 billion by 2025
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According to the new market research report Solvents Market by Type (Alcohols, Ketones, Esters, Glycol Ethers, Aromatic, Aliphatic), Application (Paints & Coatings, Polymer Manufacturing, Printing Inks), and Region - Global Forecast to 2025″, to reach USD 30.0 billion by 2025, at a CAGR of 6.6% from an estimated value of USD 21.8 billion in 2020. Growing demand for home care, personal care, pharmaceuticals are projected to drive the demand for solvents across regions. Volatile Organic Compounds (VOCs) are compounds which form ground-level ozone and particulate matter and are main constituents of smog. Stringent regulations in Europe and North America for the reduction of VOCs are projected to drive the demand for bio & green solvents.
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The report reviews, analyzes and projects the global Specialty Chemicals market for the period 2017-2026 in terms of value in US$; and the compound annual growth rates (CAGRs) projected from 2020 through 2026. The report focuses on COVID-19 impact on the market with concentrating on YOY growth rates for 2019-2020.
Impact of COVID-19 pandemic on Specialty Chemicals market was moderate and the demand declined by about 1% y-o-y in 2020 compared to 2019. All major regions witnessed the negative growth around 2% in 2020, while Asia-Pacific withstand a slight growth of about 1%.
The evolutionary nature of the Specialty Chemicals business has meant that the traditionally dominant regions of North America, Europe and Japan have made way for fast growth in emerging Asian, South America and Middle Eastern & African economies. Asia-Pacific, in fact, is estimated as the largest, as also the fastest growing, global mar