Citrus Solvents Industry Overview
The global citrus solvents market size was valued at USD 1.44 billion in 2021 and is expected to expand at a compound annual growth rate (CAGR) of 5.3% from 2022 to 2028.
The market is majorly driven by the increasing demand for natural products. Also, the growing demand for skin and hair care segment is propelling the industry growth during the forecast period. As hair and skin are vital parts of every individual, thus various consumers are looking for non-toxic and organic products. Owing to this reason market is anticipated to propel during the forecast timeline.
The product has its application in multiple industrial sectors mainly as an insect repellent, degreaser, fragrance, and paint thinner. These are also used as a key ingredient in many home care products. Various players in the market are introducing home cleaners that contain citrus solvents which are likely to push business sales.
Gather more insights about the market drivers, restrains and growth of the Global Citrus Solvents Market
Citrus solvents are also used in personal care products as a replacement of synthetic solvents. It offers certain properties such as antioxidant and fragrance which in turn increases the value of the product. Further, these are also used in various industries as cleaning agents. For example, it is used as thinner in the coating and paint industry.
These products are biodegradable and naturally occurring solvents. Citrus oil is its main ingredient. It has unique chemical properties and good citrus scents which are used in a wide range of chemical applications. They are primarily used to make solid paints and secondary cooling fluids.
Increasing investment in R&D by various players to develop new solvents coupled with the increasing demand for citrus solvents are likely to drive the market growth during the forecast period. Also, increasing income level plays important role in determining the purchase of citrus solvents. Moreover, rising technological advancement in developing the product is likely to drive market growth over the assessment period.
Browse through Grand View Research’s Food Additives & Nutricosmetics Industry Research Reports
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Key Companies Profile
Some prominent players operating in the global citrus solvents market include:
- LemonConcentrate
- Citrosuco S.A.
- Louis Dreyfus Company
- Peace River Citrus Products
- Archer Daniels Midland Company
- Citrus Oleo
- Mentha & Allied Products Ltd
- Norkem Group
- Sucocitrico Cutrale Ltd
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