Aprotic Solvents Market - Forecast(2023 - 2028)

Aprotic Solvents Market Overview

The Aprotic Solvents Market size is estimated to reach US$21.6 million by 2027, after growing at a CAGR of 3.6% during the forecast period 2022-2027. Aprotic solvents are those compounds that do not exhibit proton or hydrogen atoms and include acetone, acetonitrile, pyridine and other aliphatic or aromatic solvents which do not contain acidic or basic groups. The growing automotive sector is driving the growth of the aprotic solvents market, to be utilized in automotive care products such as paints and coatings, greases, automotive washing and cleaning products and others. Moreover, the increasing requirement for aprotic solvents in the electrical & electronics industry for the manufacturing of tablets, monitors, outdoor signage and other electrical and electronic devices is anticipated to upsurge the growth of the aprotic solvents industry during the forecast period. According to Invest India, domestic production of electronics hardware reached US$76 billion in 2019-2020, with a CAGR of around 23% and production-linked incentives of INR 40,951 crores (US$5544 million), funded over a period of 5 years. The global economic downturn caused by the COVID-19 pandemic resulted in a huge drop in building & construction, electronic devices, automotive and other end-use industries all across the world, which had a significant impact on the growth of the Aprotic Solvents market size.

Report Coverage

The “Aprotic Solvents Market Report – Forecast (2022 - 2027)” by IndustryARC, covers an in-depth analysis of the following segments in the Aprotic Solvents industry.

By Product Type: N-Methyl-2-Pyrrolidone, Toluene, Benzene, Acetone and Others.
By Source: Bio-based and Conventional.
By Application: Paints & Coatings, Adhesives & Sealants, Lubricants and Greases, Inks and Toners, Polishes & Waxes, Washing & Cleaning Products, Agrochemicals and Others.
By End-use Industry: Oil & Gas, Chemical & Petrochemical, Pharmaceutical & Healthcare, Building & Construction (Residential, Commercial, Industrial, Infrastructure), Electrical & Electronics, Agriculture, Textile & Apparel, Automotive (Passenger Vehicles, Light Commercial Vehicles, Heavy Commercial Vehicle) and Others.
By Geography: North America (the USA, Canada and Mexico), Europe (the UK, Germany, France, Italy, the Netherlands, Spain, Belgium and the Rest of Europe), Asia-Pacific (China, Japan, India, South Korea, Australia and New Zealand, Indonesia, Taiwan, Malaysia and the Rest of APAC), South America (Brazil, Argentina, Colombia, Chile and the Rest of South America) and the Rest of the World (the Middle East and Africa).

Key Takeaways

• The Asia-Pacific region dominates the Aprotic Solvents market owing to the rising growth in the building and construction industry. According to Invest India, by 2025, the building and construction industry is estimated to reach US$1.4 trillion.
• Rapidly rising demand for Aprotic Solvents in the automotive industry for automotive care products such as paints and coatings, greases, automotive washing and cleaning products and others has driven the growth of the Aprotic Solvents market.
• The increasing demand for Aprotic Solvents in the electrical & electronics sector, due to its usage in the production of tablets, monitors, mobile phones, televisions, outdoor signage and other electrical and electronic devices, has been a critical factor driving the growth of the Aprotic Solvents market in the upcoming years.
• However, the health and environmental issues associated with Aprotic Solvents can hinder the growth of the Aprotic Solvents market.

Figure: Aprotic Solvents Market Revenue Share by Geography, 2021 (%)

Aprotic Solvents Market Segment Analysis – by Application

The paints & coatings segment held the largest share of the Aprotic Solvents Market in 2021 and is estimated to grow at a CAGR of 3.8% during the forecast period 2022-2027. Aprotic solvents in paints & coatings have high longevity and durability and are non-flammable. These solvents such as acetone, acetonitrile, pyridine and others are utilized in paints and coatings to increase adhesion. Aprotic solvents enhance UV and thermal stability, chemical resistance, surface strength and corrosion and scratch resistance. The market for the paints and coatings segment is anticipated to rise, owing to rapidly rising modern advancements in paints & coatings technology and residential construction activities. According to the India Brand Equity Foundation, in 2021, under the Union Ministry of Housing and Urban Affairs' ambitious Pradhan Mantri Awas Yojana (PMAY) scheme, the federal government made a massive investment to build 20 million affordable houses in metropolitan areas across the country. Therefore, the residential building sector is set to expand dramatically. The rising construction activities require more paints & coatings, which is driving the growth of the Aprotic Solvents market, to be utilized in these paints & coatings.

Aprotic Solvents Market Segment Analysis – by End-use Industry

The building & construction industry held the largest Aprotic Solvents Market share in 2021 and is estimated to grow at a CAGR of 4.1% during the forecast period 2022-2027. In the building & construction industry, aprotic solvents are utilized in adhesives & sealants, paints and coatings to increase the bonding between polymer matrix and fiber surface. It is also used in other applications to significantly reduce porosity in renders, concrete and plasters, making them water repellent. It is used for joining and sealing the passage of fluids, as a type of mechanical seal. According to the US Department of Commerce, the privately-owned housing units authorized by building permits in March 2022 were around 1,873,000 which is 0.4% above February 2022 of 1,865,000 units and 6.7% above March 2021 of around 1,755,000 units. Thus, the growing building and construction industry would require more aprotic solvents for adhesives & sealants, paints and coatings and polishes due to their exhibit characteristics, which would drive the demand for the Aprotic Solvents market growth during the forecast period.

Aprotic Solvents Market Segment Analysis – by Geography

Asia-Pacific region dominated the Aprotic Solvents Market with a share of 41.7% in 2021. It was due to the increasing requirement for aprotic solvents in developing countries such as China, Japan, India and South Korea. China is expected to continue its dominance in the aprotic solvents market during the forecast period. This is due to the growth of the building & construction industry in the country. According to the Australian Government, the building and construction sector remains healthy in Singapore, with strong government spending on public infrastructure, with about S$2 billion (US$1.43 billion) in contracts being awarded each month. Such increasing building & construction activities in the APAC countries are anticipated to increase the demand for aprotic solvents applications in the forecasted period and are proving to be a market booster for the Aprotic Solvents market size in this region.

Aprotic Solvents Market Drivers

Growing Automotive Industry:

In the automotive industry, Aprotic Solvents are utilized in automotive care products such as paints and coatings, greases, automotive washing and cleaning products and polishes and in other applications. According to the European Automobile Manufacturers' Association (ACEA), in 2021, 79.1 million motor vehicles were produced around the world, an increase of 1.3% compared to 2020. Also, according to the Organisation Internationale des Constructeurs d'Automobiles (OICA), in the USA, the production of motor vehicles increased from 62,39,401 units in 2020 to 68,57,182 units in 2021. With the increasing production of automobiles, it is estimated that the requirement for aprotic solvents in the automotive industry would rise in the upcoming years. It would, thus, boost the growth of the Aprotic Solvents industry.

Flourishing Electrical & Electronics Industry:

The electrical and electronics industry uses Aprotic Solvents like acetone, acetonitrile, pyridine and others due to their properties such as high temperature, UV and humidity resistance, high cohesion, peel strength and high transmittance. Aprotic solvents are used in the manufacturing of tablets, monitors, mobile phones, televisions, outdoor signage and other electrical and electronic devices. According to the Indian Brand Equity Foundation (IBEF), the Indian electronics manufacturing industry is projected to reach US$520 billion by 2025. Thus, increasing electrical and electronic device production would require more aprotic solvents and therefore, is estimated to boost the growth of the Aprotic Solvents market.

Aprotic Solvents Market Challenge

Health and Environmental Issues Associated with Aprotic Solvents:

The Aprotic Solvents exhibit various advantages and applications in different end-use industries. However, there is a potential danger to health from the use of aprotic solvents on humans and the environment. The toxic effects on human health include heart attack, kidney damage and an increased risk of high blood pressure. Environmental rules and regulations continue to implement limitations on the utilization and disposal of toxic chemicals and force the industrial sector to search for an environment-friendly and safer substitute. Aprotic solvents are flammable; therefore, their transporting is strenuous in the industries. Thus, the health and environmental issues associated with Aprotic Solvents would create hurdles for the growth of the market.

Aprotic Solvents Industry Outlook

Technology launches, acquisitions and R&D activities are key strategies players adopt in the Aprotic Solvents market. The top 10 companies in the Aprotic Solvents market are:

1. Dow
2. Eastman Chemical Company
3. BASF SE
4. Mitsubishi Chemical Corporation
5. AlzChem Group AG
6. INEOS
7. China National Petroleum Corporation
8. Merck KGaA
9. Celanese Corporation
10. Ashland

Recent Development

• In April 2022, Merck KGaA, a leading science and technology company, launched Cyrene, a sustainable dipolar Aprotic Solvent, manufactured in two steps from a renewable cellulose source.

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