Global Aliphatic Hydrocarbon Solvents & Thinners Market is valued approximately at USD 3.4 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 4.5% over the forecast period 2021-2027. Solvents are organic additives that are added to paint after the manufacturing process and before packaging to keep all the paint's components in a liquid / viscous state. Solvents are commonly liquids, but they may also be solids or gases. In the chemical, pharmaceutical, oil, and gas industry, solvents are used in chemical syntheses and purification processes, among numerous activities. Growing need of paint and coating in construction industry and growing demand of other wide applications drive the market growth in the upcoming years. For instance, under the smart cities programmes, the Indian government declared a USD 31,650 billion investment to construct 100 cities in 2018. Over the next five years, 100 smart cities and 500 cities are expected to generate investments worth INR 2 trillion (USD 28.18 billion), enabling aliphatic hydrocarbon solvents and thinners to be used in paints and coatings. However, manufacturers switching to green solvents may impede market growth over the forecast period of 2021-2027.
Asia Pacific is expected to be the largest market for aliphatic hydrocarbon solvents and thinners. The primary users of aliphatic hydrocarbon solvents and thinners in this region are China, India, Japan, and South Korea. Growing urbanization, increasing in middle class population income of the region has led to increasing demand for residential and commercial building in Asia Pacific, thereby contributing to the growth of the aliphatic hydrocarbon solvents & thinners market in this region.
Major market player included in this report are:
SK Global Chemical Co., Ltd.
ExxonMobil Chemical, Inc.
Royal Dutch Shell Plc.
Calumet Specialty Products Partners, L.P.
Gulf Chemicals and Industrial Oils Co.,
Pure Chemicals Co.
Heritage Crystal Clean
Kandla Energy & Chemical Limited
RB Products, Inc
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Varnish Makers' & Painters' Naphtha
Paints & Coatings
Cleaning & Degreasing
Rubbers & polymers
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year - 2018, 2019
Base year - 2020
Forecast period - 2021 to 2027.
Target Audience of the Global Aliphatic Hydrocarbon Solvents & Thinners Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers