High Purity Solvent Market Report 2025

The high purity solvent market size has grown strongly in recent years. It will grow from $60.38 billion in 2024 to $65.82 billion in 2025 at a compound annual growth rate (CAGR) of 9%. The growth in the historic period can be attributed to stringent quality standard, growing electronic manufacturing, pharmaceutical industry growth, increasing analytical chemistry applications, globalization of chemical industries.

The high purity solvent market size is expected to see rapid growth in the next few years. It will grow to $102.6 billion in 2029 at a compound annual growth rate (CAGR) of 11.7%. The growth in the forecast period can be attributed to emergence of green chemistry, increasing demand in nanotechnology, bio-based solvents, focus on specialty chemicals manufacturing, environmental and safety regulations. Major trends in the forecast period include increasing adoption in clean energy technologies, technological innovations in solvent purification, increasing use in research and analytical chemistry, technological advancements in production processes, emergence of customized solvent solutions.

The rising demand for paints and coatings is anticipated to drive the growth of the high-purity solvent market in the future. Paints and coatings are defined as liquid, liquefiable, or solid mastic materials that solidify when applied to a substrate in a thin layer. High-purity solvents are essential for dissolving various components used in the formulations of paints and coatings. For example, in October 2023, the American Coatings Association, a U.S.-based non-profit organization, reported an estimated 25% increase in the value of the coatings industry from 2021 to 2023. Therefore, the growing demand for paints and coatings is propelling the expansion of the high-purity solvent market.

The high purity solvent market is expected to grow due to the rapid expansion of the pharmaceutical sector. The pharmaceutical sector focuses on drug and medicine research, development, production, and marketing within the healthcare business. High-purity solvents play a critical role in ensuring the safety and efficacy of medications during various stages of pharmaceutical development and production by minimizing the risk of contamination or unwanted interactions. According to the European Federation of Pharmaceutical Industries and Associations in June 2023, North America accounted for 52.3% of global pharmaceutical revenues in 2022, while Europe accounted for 22.4%. The rapid expansion of the pharmaceutical sector is driving the high purity solvent market.

The high purity solvent market is witnessing a key trend with the introduction of bio-derived products. Major companies in this sector are dedicated to developing bio-derived products to strengthen their positions. For example, in February 2022, Clariant, a Switzerland-based specialty chemicals company, launched Vita, a new line of 100% bio-based surfactants and polyethylene glycols (PEGs). These products directly address climate change by removing fossil carbon from the value chain. Vita products, made with renewable feedstocks, have a Renewable Carbon Index of at least 98%, assisting manufacturers in increasing the bio-based carbon content of consumer goods.

Key players in the antiviral and high-purity solvents market are increasingly focusing on partnership agreements to better address the needs of their existing customers. This strategy aims to promote innovation within the market. For example, in 2024, Solvay, a multinational chemical company based in Europe, partnered with MCassab, a leading chemical distributor, to introduce innovative oxygenated solvents tailored for the Brazilian pet care market. The new products, Augeo Clean Multi and Hexylene Glycol, are designed to improve formulation effectiveness while catering to the rising demand for sustainable solutions in pet care. This collaboration underscores their dedication to innovation in a rapidly growing market.

In July 2023, Eastman Chemical Company, a specialty materials company based in the U.S., acquired Ai-Red Technology (Dalian) Co., Ltd. for an undisclosed amount. This acquisition allows Eastman to expand its product offerings in the paint protection and window film markets within the automotive and architectural sectors in the Asia Pacific region. Ai-Red Technology specializes in the manufacturing and supply of advanced materials, which aligns with Eastman’s goal of fostering growth in performance films.

Major companies operating in the high purity solvent market include Exxon Mobil Corporation, MP Biomedicals LLC, BASF SE, Dow Inc., Thermo Fisher Scientific Inc., Honeywell International Inc., The Merck Group, Asahi Kasei Corporation, Evonik Industries AG, DuPont de Nemours Inc., Akzo Nobel N.V., Mitsubishi Chemical Corporation, Avantor Inc., VWR International LLC, Kanto Chemical Co. Inc., Alfa Aesar, Spectrum Chemical Mfg. Corp., J.T.Baker, Tokyo Chemical Industry Co. Ltd., GFS Chemicals Inc., Tedia Company Inc., High Purity Laboratory Chemicals Pvt. Ltd., Apchem Life Science Pvt. Ltd., Pharmco-AAPER, EMD Millipore Corporation, Ricca Chemical Company, Fisher Scientific, Macron Fine Chemicals, Chem-Supply Pty. Ltd.

Asia-Pacific was the largest region in the high purity solvent market in 2024. Asia-Pacific is expected to be the fastest-growing region in the market. The regions covered in the high purity solvent market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the high purity solvent market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

High purity solvents are synthetically-distilled organic chemicals used in gas and liquid chromatography. Manufactured through multistep purification processes, these solvents provide rapid, reproducible performance and separation in research and quality control applications.

The primary types of high purity solvents are acetone, acetonitrile, dimethyl sulfoxide, and others. Acetone serves as a liquid solvent breaking down and dissolving other substances. Categories include polar solvents and non-polar solvents, applicable in liquid crystal displays, lithium-ion batteries, electroplating, polymer resins, catalysts, and other industries. They are employed across pharmaceuticals, chemicals, cosmetics and personal care, food and beverages, agriculture, paints and coatings, biotechnology, electrical and electronics, and other end-users.

The high purity solvent market research report is one of a series of new reports that provides high purity solvent market statistics, including high purity solvent industry global market size, regional shares, competitors with a high purity solvent market share, detailed high purity solvent market segments, market trends and opportunities, and any further data you may need to thrive in the high purity solvent industry. This high purity solvent market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The high purity solvent market consists of sales of methyl alcohol, butyl alcohol, and 2,2,4-trimethylpentanemethyl alcohol. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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