Aliphatic solvents Market Size Analysis
According to a research analysis conducted by ChemView Consulting, in 2022, the worldwide aliphatic solvents market was worth US$ 3.5 Bn, and it is expected to grow at a CAGR of 4.9% over the forecast period. The market is expected to hit US$ 5.2 Bn by 2030 end.
The market is expanding owing to the growing demand for paints and coatings sector expects widespread implementation because of the increasing number of residential and non-residential infrastructure projects worldwide.
Furthermore, Aliphatic solvents are predicted to be used extensively in the paints and coatings industry. The growing popularity of odorless paints is driving adoption. Mineral spirits, hexanes, and heptanes are common solvents.
Market Dynamics
Which is the Key Factor driving the demand for Aliphatic solvents?
The growth of the aliphatic solvents market is likely to be fueled by interest in initiatives such as car and construction since the solvents are used to remove grease and oil. Increasing demand for aliphatic solvents from sectors such as glues, sealants, paints, and coatings is expected to fuel market growth due to their severe chemical characteristics.
Furthermore, the growing demand for varnishes and films from the decor enhancing sector, protective covering capitals, and automobiles fuel the business’s growth worldwide.
Asia-Pacific dominates the global aromatic and aliphatic solvents market in the regions. Because of the high volume of usage, notably in China, the Asia-Pacific region has a considerable offer in the global fragrant solvents market.
What are the opportunities in the Aliphatic solvents business?
Providing Replacement for Turpentine with Aliphatic Solvent Will create Market Opportunity in Forecast Period. Turpentine is widely used in the painting and art sectors, although it is notorious for emitting toxic fumes and pungent odor. Mineral spirits are aliphatic solvents that work similarly to turpentine but don’t produce any vapors or aromas. Turpentine irritates the skin, eyes, mucous membranes, and upper respiratory tract in humans. It can also impact the central nervous system, gastrointestinal, and urinary tract, causing cutaneous sensitivity. As a result of these causes, turpentine is being replaced with mineral spirits or odorless mineral spirits, boosting the aliphatic hydrocarbon solvent and thinners industry, which will create opportunities in the forecast period.
Segment-Wise Analysis
Why does Paints & Coatings segment estimate to grow at a high CAGR?
Paints & Coatings segment is expected to register a growth rate of 5.1% between 2022 and 2030. Paints and coatings, cleaning and degreasing agents, and adhesives are all needed in the construction sector, which drives up demand for aliphatic solvents and thinners.
Because the mix of solvents used in this industry is constantly changing, aliphatic solvents are used mainly as thinners in paints and coatings to meet increasing demands for enhanced performance. Increased demand for paints and coatings from various end-use industries such as decorative, automotive, industrial, and protective paints and coatings is driving the global growth of the aliphatic hydrocarbon solvents & thinners market.
Which application type creates the highest demand for Aliphatic solvents?
Paints & Coating Will Create Greate Demant in Near Future because the mix of solvents used in this sector is constantly changing. These fulfill rising needs for increased performance; aliphatic hydrocarbon solvents and thinners are predominantly utilized as thinners in paints and coatings. The paints & coatings sector of the aliphatic hydrocarbon solvents & thinners market is growing due to increased demand for paints & coatings from different end-use industries such as decorative, automotive, industrial, and protective paints & coatings.
Why is Recycled Rubber Bolstering the demand for Aliphatic Solvents?
Due to the increased demand for sustainable building materials, recycled rubber and construction debris sweep the aliphatic solvents industry. This helps to explain why the aliphatic solvents market is estimated to generate US$ 5.2 Bn in sales by 2030. New rubber is manufactured from canola oil and sulfur, which reduces its ability to be recycled. As a result, a group of researchers from Flinders University in South Australia developed a recyclable rubber polymer to handle building trash. To acquire a competitive edge worldwide, aliphatic solvent makers should work with such researchers.
How is China consolidating its aliphatic solvents market dominance in the Asia Pacific?
The primary growth drivers for increased consumption across China are extensive public and commercial infrastructural development and a thriving chemical manufacturing industry. The Chinese chemical sector was worth roughly US$ 1.5 trillion in sales.
The East Asian behemoth has contributed half of global chemical industry development since the turn of the decade, making it a perfect location. With the expanding magnitude of infrastructure projects boosting demand for the same, application throughout the paints and coatings sector is set to be at its peak.
Competition Analysis
To remain competitive in the industry, key market players are investing in expanding their market footprint. Several vital players invest a fair share of their revenue in research and development to boost their product portfolio. Market participants focus on technological development and utilizing a product in several applications.
Some of the key developments that have taken place in the aliphatic solvents market include:
- In 2020, ExxsolTM dearomatized fluids, including Exxsol D and Exxsol hexane, are available from ExxonMobil Chemical. Both grades have a shallow aromatic content (less than 1%) to reduce exposure concerns, low odor levels, and non-volatile materials for the most incredible extraction quality.
- In 2017, R.B. Products Inc., a leading provider of petrochemicals, specialty chemicals, and oil-related products, provided the RB C12 Tetramer and RB C15 Synthetic Olefin aliphatic solvents for use in paints and coatings, cleaners, and degreasers, and drilling fluids, among other applications.
A list of some of the critical suppliers present in the market are:
- Exxon Mobil Corp.
- 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
- 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.
- Total S.E.
- RB PRODUCTS INC.
- Ganga Rasayanie Private Limited
- Pon Pure Chemicals Group
- Carolina International Sales Company Inc.
- Gav Petrochemical Industries Ltd.
- HCS Group GmbH
Market Segments Covered in Report
By Type:
- Varnishes
- Hexane
- Heptane
- Mineral Spirit
- Others
By Application:
- Paint & Coating
- Aerosol
- Cleaning and Degreasing
- Adhesives
- Rubbers and Polymers
- Others
By Region and Country:
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Rest of Latin America)
- Europe (Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Rest of Asia-Pacific)
- Middle East (Saudi Arabia, Turkey, UAE, Rest of Middle East)
- Africa (South Africa, Nigeria, Egypt, Rest of Africa)
Global aliphatic solvents Market 2022-2030: Report Coverage and Highlights
- Assessment of the historical and current market size (2017-2021), market projections (2022-2030), and its contribution to the parent market
- Key drivers, restraints, opportunities, and key emerging trends impacting market growth
- Predictions on critical supply, demand, and technological trends and changes in consumer behavior
- Value chain analysis (list of manufacturers, distributors, end-users, average profitability margins, etc.)
- Segment-wise, country-wise, and region-wise market analysis
- Competition mapping, market share analysis, key strategies adopted by top players, and competitive tactical intelligence
- Key product innovations and regulatory framework
- Covid-19 impact on the market and how to navigate
- Strategic market analysis and recommendations on crucial winning strategies
| Research Scope | Details |
| Forecast period | 2022-2030 |
| Historical data available for | 2017-2021 |
| Market analysis | USD Million for Value and Tons for Volume, and CAGR from 2022 to 2030 |
| Key regions covered | North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa |
| Key countries covered | US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt |
| Key segments covered | Type, Application, and Region |
| Customization scope | Available upon Request |
| Pricing and purchase options | Available upon Request |
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