According to latest research conducted on Aliphatic Solvent market, Aliphatic Solvent market size is estimated to grow with a CAGR of 3% to 5% during the forecast period 2021-2031.
The increasing requirement for varnishes and films from the decor industry and automotive is kindling the increase of the business across the globe.
Strengthening requirements for suburban and industrial constructions from developing marketplaces serve as a key macro-economic factor for growth of the aliphatic solvents market around the world during the forecast period.
What is Driving Demand for Aliphatic Solvents
Aliphatic solvents and thinners are diluted in paints for simple combination and lessening thickness.
These helps in ease in paint application after blending it in with the products will support the business and industry growth.
Subsequent growth in the automobile industry, subsequent growth in population, rise in disposable income and rising urbanization in non-industrial nations is speeding up the demand.
Demand in different segment including building & construction, and automotive will propel the market growth of these solvents which plays major roles in this sector. Expanding interest for rubber in different enterprises will essentially drive aliphatic hydrocarbon solvents and thinners market.
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Usage Across Various End Use Industries Driving Demand of Aliphatic Solvents
Aliphatic Solvents are also known as non-aromatic solvents. They are one of the most commonly used solvents worldwide and found in many of the everyday products.
They are used as solvents or diluents in paints and thinners, they are widely used in oil extraction, degreasing, rubber manufacturing and as carriers for aerosols and disinfectants.
Gasoline and kerosene are examples of aliphatic hydrocarbon solvents. Common aliphatic hydrocarbon solvents used in paints and coatings are mineral spirits, hexanes and heptane. These compounds are also used as corrosion inhibitors.
The growth of this segment can be attributed to the increasing demand for decorative, automotive, industrial, and protective paints & coatings in both, developed and emerging countries.
This growing demand for paints & coatings for the increasing number of residential and commercial buildings due to rising population and urbanization majorly in China and India is expected to drive the global market during the forecast period.
Asia Pacific Demand Market Outlook for Aliphatic Solvents:
Asia-Pacific region is expected to dominate the market for aliphatic hydrocarbon solvents and thinners during the forecast period.
Due to the high demand application from countries like China, India and Japan, the market for aliphatic hydrocarbon solvents and thinners has been increasing.
The largest producers of aliphatic hydrocarbon solvents and thinners are located in Asia-Pacific region.
Some of the leading companies in the production of aliphatic hydrocarbon solvents and thinner are Royal Dutch Shell, Recochem Inc., Phillips 66, MG Organics Pvt. Ltd. Apart from paints & coatings, these aliphatic hydrocarbon solvents and thinners are also used in adhesives & sealants, in rubber manufacturing and others which have multiple application in various end-user industries like automotive and others.
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Europe Demand Outlook for Aliphatic Solvents:
The demand for conventional hydrocarbon solvents is changing particularly in Europe and North America, where various environmental regulations and acts are stringent thereby allowing bio-green based hydrocarbon solvents to be implemented.
Aliphatic Solvents has a major dominance in the market and is expected to steadily rise while Aromatic is expected to decline gradually.
Paintings and Coatings form the largest application market of Hydrocarbon Solvents followed by pharmaceuticals, adhesives and printing inks respectively.
Who are the Key Manufacturers and Suppliers of Aliphatic Solvents
Major players in the aliphatic solvents market are
- ExxonMobil Chemical, Inc.
- SK Global Chemical Co., Ltd.
- Royal Dutch Shell Plc.
- Calumet Specialty Products Partners, L.P.
- Gotham Industries
- Gulf Chemicals and Industrial Oils Co.
- Recochem Inc.
- HCS Group
- W.M. Barr
- Ganga Rasayanie Ltd
- NOCO Energy Corporation
- Gadiv Petrochemical Industries Ltd.
- Hunt Refining Company
- Honeywell International Inc.
- BASF SE, and LyondellBasell Industries Holdings B.V. among others.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
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- Mineral Spirit
- Paints & Coatings
- Rubbers & Polymers
- Cleaning & Degreasing