India Solvent Market Size, Share, Trends & Report 2033

India Solvent Market Size, Share, Trends and Forecast by Product Type, Application, and Region, 2025-2033

Report Format: PDF+Excel | Report ID: SR112025A35319

India Solvent Market Overview:

The India solvent market size reached USD 4.50 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 6.10 Billion by 2033, exhibiting a growth rate (CAGR) of 3.10% during 2025-2033. The demand is fueled by fast industrial growth, particularly in pharmaceuticals, agrochemicals, and paints and coatings, where solvents have an important application in production processes. Increased demand for specialty and high-performance chemicals, combined with increased exports of formulated products, increases solvent usage. Moreover, increasing urbanization, infrastructural growth, and growth in personal care products drive the demand for solvents. Green chemistry regulatory support and the drive towards bio-based solvents also promote innovation and investment, additionally driving India solvent market share.

Report Attribute	Key Statistics
Base Year	2024
Forecast Years	2025-2033
Historical Years	2019-2024
Market Size in 2024	USD 4.50 Billion
Market Forecast in 2033	USD 6.10 Billion
Market Growth Rate 2025-2033	3.10%

India Solvent Market Trends:

Shift Toward Green and Bio-Based Solvents

India is witnessing a significant switch from conventional petroleum-based solvents to greener and bio-based ones. The reason behind this change is increasing environmental awareness, regulatory forces, and greater knowledge about health risks associated with traditional solvents such as toluene or xylene. Pharmaceuticals, paints and coatings, and adhesives are making investments in environmentally friendly solvents from agricultural biomass, such as ethyl lactate and D-limonene. Government efforts towards sustainability and international pressure for cleaner production processes are driving this transition. Moreover, India's vast agricultural sector provides significant raw material for bio-solvent production, which is fueling indigenous supply chains. Although bio-solvents are as of now more costly, technology innovations in production and scaling of operations should make it possible for them to compete. This is part of India's larger effort towards green chemistry and is consistent with international initiatives towards sustainability.

India Solvent Market Size

Growth in Pharmaceutical and Personal Care Sectors

India's pharmaceutical and personal care sectors are key drivers of rising solvent demand. As of 2023, India is the world’s third-largest drug producer by volume, holding a 20% global share in generic drug exports. Valued at USD 50 billion, the pharmaceutical industry is projected to reach USD 130 billion by 2030. Solvents like acetone, ethanol, and isopropanol are crucial in drug formulation, extraction, and purification. Post-COVID, increased healthcare investments and advanced manufacturing have amplified the need for high-purity solvents. Simultaneously, India’s growing personal care industry boosted by urbanization, higher disposable incomes, and lifestyle changes is spurring demand for cosmetic-grade solvents in products like perfumes, lotions, and hygiene items. This dual-sector expansion is pushing manufacturers to enhance production capacity and solvent quality. As both industries scale, solvent consumption especially of pharmaceutical- and cosmetic-safe variants is expected to grow steadily, aligning with India’s industrial and economic growth trajectory.

Volatility in Raw Material Prices and Supply Chains

One of the largest trends affecting the Indian solvent market is the volatility of raw material prices and the susceptibility of global supply chains. The majority of traditional solvents are petrochemical derivatives, so their pricing is extremely sensitive to crude oil price movements. Global geopolitical tensions, including conflicts within oil-producing countries or trade embargos, have a great effect on feedstock availability and pricing. Furthermore, post-pandemic supply chain disruptions and changing trade policies (e.g., China+1 approach) have prompted several Indian solvent producers to re-evaluate their reliance on imports. In an effort to hedge risks, businesses are localizing supply chains, diversifying raw material sources, and looking into alternative modes of production. The volatility has also accelerated the drive for innovation in solvent recovery and recycling to lower dependence on virgin raw materials thus strengthening the India solvent market growth.

India Solvent Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on product type and application.

Product Type Insights:

Alcohols
Chlorinated Solvent
Ketones
Hydrocarbon Solvent
Others

The report has provided a detailed breakup and analysis of the market based on the product type. This includes alcohols, chlorinated solvent, ketones, hydrocarbon solvent, and others.

Application Insights:

Printing Ink
Paints and Coatings
Metal Working
Industrial Cleaning
Adhesives and Sealants
Others

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes printing ink, paints and coatings, metal working, industrial cleaning, adhesives and sealants, and others.

Regional Insights:

North India
South India
East India
West India

The report has also provided a comprehensive analysis of all the major regional markets, which include North, South, East, and West India.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

India Solvent Market News:

In May 2025, Bengaluru-based CRDMO Steerlife launched a groundbreaking solvent-free melt fusion technology that eliminates harmful organic solvents in drug production. This continuous processing platform enhances formulation safety, efficiency, and scalability, especially for high-potency and complex molecules. CEO Indu Bhushan highlighted its significance in overcoming long-standing pharmaceutical challenges. Unlike traditional batch processing, the new system simplifies manufacturing from 8–9 steps to just 3–4, marking a major leap in drug development innovation in India.
In August 2024, Eastman launched a high-purity electronic grade isopropyl alcohol (IPA) as part of its EastaPure solvent portfolio, designed to meet strict semiconductor industry standards. Made in the U.S., this solvent supports wafer fabrication and semiconductor production by providing reliable, contaminant-free cleaning and drying. Eastman’s domestic production ensures consistent quality and supply, reducing reliance on imports, and meeting the growing demand for advanced, high-yield semiconductor manufacturing.

India Solvent Market Report Coverage:

Report Features	Details
Base Year of the Analysis	2024
Historical Period	2019-2024
Forecast Period	2025-2033
Units	Billion USD
Scope of the Report	Exploration of Historical Trends and Market Outlook, Industry Catalysts and Challenges, Segment-Wise Historical and Future Market Assessment: Product Type Application Region
Product Types Covered	Alcohols, Chlorinated Solvent, Ketones, Hydrocarbon Solvent, Others
Applications Covered	Printing Ink, Paints and Coatings, Metal Working, Industrial Cleaning, Adhesives and Sealants, Others
Regions Covered	North India, South India, East India, West India
Customization Scope	10% Free Customization
Post-Sale Analyst Support	10-12 Weeks
Delivery Format	PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

Key Questions Answered in This Report:

How has the India solvent market performed so far and how will it perform in the coming years?
What is the breakup of the India solvent market on the basis of product type?
What is the breakup of the India solvent market on the basis of application?
What is the breakup of the India solvent market on the basis of region?
What are the various stages in the value chain of the India solvent market?
What are the key driving factors and challenges in the India solvent?
What is the structure of the India solvent market and who are the key players?
What is the degree of competition in the India solvent market?

Key Benefits for Stakeholders:

IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India solvent market from 2019-2033.
The research report provides the latest information on the market drivers, challenges, and opportunities in the India solvent market.
Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India solvent industry and its attractiveness.
Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.

Need more help?

Speak to our experienced analysts for insights on the current market scenarios.
Include additional segments and countries to customize the report as per your requirement.
Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
For further assistance, please connect with our analysts.

Purchase Options Discount
Offer

Inquire Before Buying

Speak to an Analyst

Request Brochure

Request Customization

Benefits of Customization

Personalize this research
Triangulate with your data
Get data as per your format and definition
Gain a deeper dive into a specific application, geography, customer, or competitor
Any level of personalization

Get in Touch With Us

UNITED STATES

Phone: +1-631-791-1145

INDIA

Phone: +91-120-433-0800

UNITED KINGDOM

Phone: +44-753-714-6104

Email: sales@imarcgroup.com

Client Testimonials

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

IMARC did an outstanding job in preparing our study. They were punctual and precise, delivering all the data we required in a clear and well-organized format. Their attention to detail and ability to meet deadlines was impressive, making them a reliable partner for our project.

I wanted to express my sincere appreciation for your efforts in handling this matter. Your dedication and commitment have truly been commendable. It is evident that you have put in a tremendous amount of hard work and expertise into resolving the issues at hand. I would also like to take this opportunity to inform you that we are greatly interested

Overall, the deliverable was well organized and my experience with the project team was good. In particular, I appreciated how they responded when I requested additional information and the Japanese version.

The IMARC team were extremely professional and very cooperative. The team were also extremely flexible in making changes and modifications wherever required. The entire experience right from project kick-off to after sales support was fruitful and smooth.

I’d like to express my gratitude for the work you accomplished with the industry report. The way you responded to the requirements and delivered under tight timelines shows your expertise, exceptional work ethic and commitment to your customer’s success. The entire team and company are incredibly thankful for your dedication. Once again, thank you

The market reports from IMARC have been instrumental in guiding our business strategies. We found the reports comprehensive and data-driven, which helped us make informed decisions. The detailed insights and actionable data have consistently provided us with a competitive edge in a rapidly changing alcohol market.

One of the best things about IMARC is their flexibility and predisposition to tailor the reports and adapt to our needs. They are not just great in their researching and consulting solutions, but their service is unparallelled. We’ve worked with them a couple of times and we will keep working with them in future projects.

We recently commissioned multiple market research reports from IMARC, and the insights we received were invaluable. The depth of analysis, accuracy of data, and actionable recommendations have greatly enhanced our strategic decision-making.

The market estimates provided by your team were pretty much in line with what we were theorizing internally. Really appreciate the work on this.

The sale account manager and the service was excellent. The data and market trends gathered from the report was insightful and really assisted while planning future product and growth strategies.

The report is excellent and has good amount of data and our team is extremely happy with the information provided.

Thank you very much for your cooperation and post purchase support. We were really happy with the final deliverable, and the takeaways from the report.