Aliphatic Solvents & Thinners Market

Aliphatic Solvents & Thinners Market Size (2023-2028):

The aliphatic solvents & thinners Market is estimated during the forecast period to grow from 4.8 billion in 2022 to USD 8.2 billion by 2028, at a compound annual growth rate of 4.7% from 2023-2028

The aliphatic solvents & thinners market develops with the flooding interest for paints and coatings from ornamental, car, modern, and defensive paints and coatings ventures. The rising need for private and business structures from emerging economies is pushing growth in the worldwide aliphatic solvents and thinners business.

For the developing nations, the market demand is promoted by the extension in the car industry, developing populace, expanding discretionary cash flow, and rising urbanization. They are connected underway of tires to stick various pieces and layers of elastic for solidness.

Drivers in the Aliphatic Solvents & Thinners Market:

The main factor promoting the global aliphatic solvents & thinners market is the high demand and adoption of paints & coatings solutions from various end-users. The increasing rate of urbanization and high levels of expansion experienced by the automotive industry is another prominent factor in the international marketplace. Also, the high adoption rate of mineral spirits as a substitute and the expansion of the building and construction industry is also supporting the expansion of the worldwide aliphatic solvents & thinners market. Besides, the rising focus of manufacturers to shift their production towards environmental-friendly and green products is supposed to create lucrative opportunities in the coming years. The Asia Pacific and the Middle East and Africa are likely to offer immense growth potential in the foreseen years in this industry.

Restraints in the Aliphatic Solvents & Thinners Market:

On the other hand, the toxic structure of these products along with VOC emissions associated with the manufacturing of these products are considered as a major restraint in the growth of this business. Moreover, environmental regulations are also acting as a serious threat to the expansion of this industry.

ALIPHATIC SOLVENTS & THINNERS MARKET REPORT COVERAGE:

The aliphatic solvents and thinners market is segmented into the following categories until 2028.

Aliphatic Solvents & Thinners Market - By Application:

• Paints & Coatings

• Cleaning & Degreasing

• Adhesives

• Aerosols

• Rubbers & polymers

• Printing inks

• Others (Agrochemicals, Pharmaceuticals, and Automotive)

By application, the paints & coatings segment of the market is estimated to grow at the highest compound annual growth rate in terms of both value and volume. It’s primarily used as thinners in paints & coatings as the mix of solvents used in this industry are continually changing, and these give fulfillment for increasing demands for improving the quality and value to extend performance.

Aliphatic Solvents & Thinners Market - By Type:

• Varnish Makers’ & Painters’ Naphtha

• Mineral Spirits

• Hexane

• Heptane

• Others (Paraffinic Solvent, Pentane, and Solvent 140)

By type, the varnish makers’ & painters’ naphtha segment is estimated during the outlook period to lead the worldwide market.

Aliphatic Solvents & Thinners Market – By Region:

• North America

• Europe 

• Asia Pacific 

• Latin America 

• Middle East and Africa

The Asia Pacific region is estimated to be the largest market for aliphatic hydrocarbon solvents & thinners in the global market in 2019. China, India, Japan, and South Korea are the prominent contributors of the Asia Pacific aliphatic hydrocarbon solvents & thinners business. In the Asia Pacific, rapid urbanization, a burgeoning population, and a hike in middle-class income have led to an increase in residential and commercial buildings, contributing to the growth of the aliphatic hydrocarbon solvents & thinners market in the Asia Pacific.

Aliphatic Solvents & Thinners Market - Competitive Analysis:

The key players are increasingly expanding their reach to their customers and also trying to expand their production capacity for maintaining the demand-supply chain.

May 2019, Calumet Specialty Product Partners obtained Biosynthetic Technologies, LLC. The purchase of Biosynthetic Technologies, LLC, and its technological capabilities, is in the position of agreement with Calumet’s Specialty Products’ focused growth. The company also declared opening a new Research and development facility in Indianapolis. This development is predicted or assuming to create synergy to offer a competitive outside limit of an object in the aliphatic hydrocarbon solvents & thinners market in the North America region.

Aliphatic Solvents & Thinners Market - Key Market Players

1. ExxonMobil Chemical, Inc. (US),

2. SK Global Chemical Co., Ltd. (South Korea),

3. Royal Dutch Shell Plc. (Netherlands),

4. Calumet Specialty Products Partners, L.P. (US),

5. Gotham Industries (Canada),

6. Gulf Chemicals and Industrial Oils Co. (Saudi Arabia),

7. Recochem Inc. (Canada),

8. HCS Group (Germany),

9. W.M. Barr (US),

10. Ganga Rasayanie (P) Ltd (India),

11. NOCO Energy Corporation (US),

12. Gadiv Petrochemical Industries Ltd. (Israel),

13. Hunt Refining Company (US),

14. Honeywell International Inc. (US),

15. BASF SE (Germany),

16. LyondellBasell Industries Holdings B.V. (Netherlands)