Current California Industrial Degreasing Solvents Market Trends and Future Aspects Analysis 2027 – KSU
According to the report published by Allied Market Research, the California Industrial Degreasing Solvents Market generated $ 7.1 million in 2019 and is expected to reach $ 8.9 million by 2027, with a CAGR of 2.8% from 2020 to 2027. The report offers a detailed analysis of the changing dynamics market, competitive scenario, major segments, key investment pockets, value chain and regional landscape.
Rising average vehicle age and surging demand for water-based degreasers are driving the growth of the California industrial degreasing solvent market. However, increasing environmental and health concerns regarding solvent based degreasers is hampering market growth. On the other hand, the emergence of the electronics sector presents new opportunities in the years to come.
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- Manufacturing activities for various types of products have come to a standstill partially or completely due to government-imposed lockdowns in many countries. In addition, a shortage of raw materials occurred.
- As day-to-day operations in end-use industries such as paints, coatings, automotive and others have ceased, the demand for industrial degreasing solvents has declined. However, demand would increase steadily during the post-lockdown.
The report offers detailed segmentation of the California Industrial Degreasing Solvents market on the basis of product industry and end use.
On a product basis, the oxygenated degreasing solvents segment accounted for the highest market share in 2019, contributing more than two-fifths of the total market share, and is expected to maintain its leading status during the period of forecast. However, the green degreasing solvents segment is expected to post the highest CAGR of 4.4% from 2020 to 2027.
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On the basis of end-use industry, the automotive repair and maintenance segment held the highest share in 2019, accounting for over a fifth of the industrial degreasing solvents market in California, and is expected to maintain its leading position during the forecast period. However, the pharmaceutical and drug manufacturing segment is expected to experience Fastest CAGR 4.2% from 2020 to 2027.
The major California industrial degreasing solvents market players analyzed in the research include BASF SE, Royal Dutch Shell Plc, RB Products, Inc., Jayne Products, Wego Chemical Group, CRC Industries, Inc., Keteca Water Works, LyondellBasell Industries NV , Columbus Chemical Industries, Honeywell International Inc., Dow Inc., Arkema and Eastman Chemical Company.
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