The global Aliphatic Solvents & Thinners Market is estimated during the forecast period to grow from 4.6 billion in 2020 to USD 5.2 billion by 2025, at a compound annual growth rate of 2.7% from 2020 to 2025. The growth of the market is caused by the surge in demand for residential and commercial buildings in the developing nations across the world.
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 demands 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.
September 2017, SK Global Chemical Co. Ltd completed the purchase of Dow’s Ethylene Acrylic Acid business. The Dow’s EAA products provide applications in coatings, polymer paints, cleaners, and adhesives. This purchase reinforced the company in the high-value packaging material industry and helped improve the quality or extent of its product portfolio.
March 2017 Royal Dutch Shell Plc. opened the Shell Technology Centre, a new center in India, to expand its R&D activities in Asia. This is a fifty-two -acre, custom-built technology center, which can house up to one thousand and five hundred experts collaborating on innovative projects, globally. It is one of the three major technology hubs of the company, with the other 2 located in the Netherlands and the US.
July 2019, Toredo Fairs India Pvt. Ltd declared that they had organized “Expo Paint & Coatings 2019”. The expo was designed to provide a platform for global and local manufacturers to collaborate and build relationships, helping them exhibit their latest innovations in technology and product range.
Aliphatic Solvents and Thinners Market is segmented into the following categories until 2025.
Aliphatic Solvents & Thinners Market - By Application
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 giving fulfillment for increasing demands for improving the quality and value to extend performance.
Aliphatic Solvents & Thinners Market - By Type
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
Middle East & 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, burgeoning population, and hike in the 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
ExxonMobil Chemical, Inc. (US),
SK Global Chemical Co., Ltd. (South Korea),
Royal Dutch Shell Plc. (Netherlands),
Calumet Specialty Products Partners, L.P. (US),
Gotham Industries (Canada),
Gulf Chemicals and Industrial Oils Co. (Saudi Arabia),
Recochem Inc. (Canada),
HCS Group (Germany),
W.M. Barr (US),
Ganga Rasayanie (P) Ltd (India),
NOCO Energy Corporation (US),
Gadiv Petrochemical Industries Ltd. (Israel),
Hunt Refining Company (US),
Honeywell International Inc. (US),
BASF SE (Germany),
LyondellBasell Industries Holdings B.V. (Netherlands)
1.1 Market Definition
1.2 Scope of the report
1.3 Study Assumptions
1.4 Base Currency, Base Year and Forecast Periods
2. Research Methodology
2.1 Analysis Design
2.2 Research Phases
2.2.1 Secondary Research
2.2.2 Primary Research
2.2.3 Data Modelling
2.2.4 Expert Validation
2.3 Study Timeline
3. Report Overview
3.1 Executive Summary
3.2 Key Inferencees
4. Market Dynamics
4.1 Impact Analysis
4.2 Regulatory Environment
4.3 Technology Timeline & Recent Trends
5. Competitor Benchmarking Analysis
5.1 Key Player Benchmarking
5.1.1 Market share analysis
5.1.3 Regional Presence
5.2 Mergers & Acquistion Landscape
5.3 Joint Ventures & Collaborations
6. Market Segmentation
6.1 Aliphatic Solvents & Thinners Market, By Type
6.1.1 Varnish Makers’ & Painters’ Naphtha
6.1.2 Mineral Spirits
6.1.5 Market Size Estimations & Forecasts (2019-2024)
6.1.6 Y-o-Y Growth Rate Analysis
6.1.7 Market Attractiveness Index
6.2 Aliphatic Solvents & Thinners Market, By Application
6.2.1 Paints & Coatings
6.2.2 Cleaning & Degreasing
6.2.5 Rubbers & Polymers
6.2.6 Printing Inks
6.2.7 Market Size Estimations & Forecasts (2019-2024)
6.2.8 Y-o-Y Growth Rate Analysis
6.2.9 Market Attractiveness Index
7. Geographical Landscape
7.1 Global Identity Governance and Administration Market, by Region
7.2 North America - Market Analysis (2018 - 2024)
7.2.1 By Country
7.2.2 By Type
7.2.3 By Application
7.3.1 By Country
188.8.131.52 Rest of Europe
7.3.2 By Type
7.3.3 By Application
7.4 Asia Pacific
7.4.1 By Country
184.108.40.206 South Korea
220.127.116.11 South East Asia
18.104.22.168 Australia & NZ
22.214.171.124 Rest of Asia-Pacific
7.4.2 By Type
7.4.3 By Application
7.5 Latin America
7.5.1 By Country
126.96.36.199 Rest of Latin America
7.5.2 By Type
7.5.3 By Application
7.6 Middle East and Africa
7.6.1 By Country
188.8.131.52 Middle East
7.6.2 By Type
7.6.3 By Application
8. Key Player Analysis
8.1 ExxonMobil Chemical, Inc.
8.1.1 Business Description
8.1.4 SWOT Analysis
8.1.5 Recent Developments
8.1.6 Analyst Overview
8.2 Royal Dutch Shell Plc.
8.3 SK Global Chemical Co., Ltd
8.4 Gotham Industries
8.5 Calumet Specialty Products Partners, L.P.
8.6 Recochem Inc.
8.7 Gulf Chemicals
8.8 Industrial Oils Co.
8.9 HCS Group
8.10 BASF SE
9. Market Outlook & Investment Opportunities
List of Tables
List of Figures
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the major countries/regions in which this industry is blooming and to also identify the regions that are still untapped
The segment-level analysis in terms of By Type, By Application, and along with market size forecasts and estimations to detect key areas of industry growth in detail
Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
Study of the effect of exogenous and endogenous factors that affect the global market; which includes broadly demographics, economics, and political, among other macro-environmental factors presented in an extensive PESTLE Analysis
Study the microenvironment factors that determine the overall profitability of an Industry, using Porter’s five forces analysis for analyzing the level of competition and business strategy development
A comprehensive list of key market players along with with their product portfolio, current strategic interests, key financial information, legal issues, SWOT analysis and analyst overview to study and sustain the market environment
Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
An executive summary, abridging the entire report in such a way that decision-making personnel can rapidly become acquainted with background information, concise analysis, and main conclusions
Expertly devised analyst overview along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
Global Aliphatic Solvents & Thinners Market By Region, From 2020-2025 ( USD Billion )
Global Aliphatic Solvents & Thinners Market By Type, From 2020-2025 ( USD Billion )
Global Varnish Makers’ & Painters’ Naphtha Market By Region, From 2020-2025 ( USD Billion )
Global Mineral Spirits Market By Region, From 2020-2025 ( USD Billion )
Global Hexane Market By Region, From 2020-2025 ( USD Billion )
Global Heptane Market By Region, From 2020-2025 ( USD Billion )
Global Aliphatic Solvents & Thinners Market By Application, From 2020-2025 ( USD Billion )
Global Paints & Coatings Market By Region, From 2020-2025 ( USD Billion )
Global Cleaning & Degreasing Market By Region, From 2020-2025 ( USD Billion )
Global Adhesives Market By Region, From 2020-2025 ( USD Billion )
Global Aerosols Market By Region, From 2020-2025 ( USD Billion )
Global Rubbers & Polymers Market By Region, From 2020-2025 ( USD Billion )
Global Printing Inks Market By Region, From 2020-2025 ( USD Billion )