Aliphatic Hydrocarbon Solvents & Thinners Market Size and Overview:
The global aliphatic hydrocarbon solvents & thinners market estimated to be valued round US$ 5.9 Bn in 2019 and poised to grow at significant CAGR over 2020-2026. Some of the key factors influencing the market growth include growing demand for aliphatic hydrocarbon solvents & thinners as it a crucial coating and painting from the protection of numerous compounds by various undesirable conditions such as rust, UV radiations & abrasion. Additionally, increase in acceptance of aliphatic hydrocarbon solvents & thinners as it less harmful for the environment, increase the shelf life of the end products and rising in the manufacturing industries will further boost the market growth in the forecast period. However, volatile prices of aliphatic hydrocarbon solvents & thinners and quality benchmark establishment are the major factors hindering the market growth.
Aliphatic Hydrocarbon Solvents & Thinners Market Report Description
Global aliphatic hydrocarbon solvents & thinners market report gives comprehensive outlook on aliphatic hydrocarbon solvents & thinners across the globe with special emphasis on key regions such as North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. The report on global market gives historical, current, and future market sizes (US$ Mn) on the basis of type, application and region. This report studies global market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, global market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed global market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product opportunities). Key stakeholders of the global market report include suppliers, manufacturers, marketers, policy makers, and end users engaged in global aliphatic hydrocarbon solvents & thinners products.
Benefits Offered by Aliphatic Hydrocarbon Solvents & Thinners are Fueling the Market Growth
Aliphatic hydrocarbon solvents & thinners are thin layered coating on the surface of the end product which provide crucial properties such as corrosive resistance, UV resistance, hydrophobic, and others. They are extremely used by end users such as automobile manufacturers, healthcare, marine, electronic, militaries and others. Due to increasing in the technological advancement aliphatic hydrocarbon solvents & thinners are widely utilized by electronic industrials segment. Additionally, rising usage of aliphatic hydrocarbon solvents & thinners in marine sectors to resist the microbial growth and damage of ships due to sea water. Rising use of aliphatic hydrocarbon solvents & thinners for development of greenery constructions boosting the market growth. In addition, high growth in emerging economies provides huge growth opportunity for the market.
Asia Pacific accounted for larger revenue share in global aliphatic hydrocarbon solvents & thinners market with considerable CAGR. The growth in this region can be attributed to rising demand for ecofriendly products and emerging economies. Also, rising awareness among European customers about the insulation properties and increasing manufacturing industries in this region is the other important factor responsible for the market growth. North America held significant market share during estimated period as the rapid growing manufacturing industries, strict regulation for environment protection, and key manufacturers are adopting various strategies for the expansion are of the market in the region.
Key player’s profiled in the report include:
- BASF SE (Germany)
- Calumet Specialty Products Partners, L.P. (US)
- ExxonMobil Chemical, Inc. (US)
- Gadiv Petrochemical Industries Ltd. (Israel)
- Ganga Rasayanie (P) Ltd (India)
- Gotham Industries (Canada)
- Gulf Chemicals and Industrial Oils Co. (Saudi Arabia)
- HCS Group (Germany)
- Honeywell International Inc. (US)
- Hunt Refining Company (US)
- LyondellBasell Industries Holdings B.V. (Netherlands)
- NOCO Energy Corporation (US)
- Recochem Inc. (Canada)
- Royal Dutch Shell Plc. (Netherlands)
- SK Global Chemical Co., Ltd. (South Korea)
- M. Barr (US).
Global aliphatic hydrocarbon solvents & thinners market is surging owing to frequent acquisitions and launchings by the market players. For Instance, In September 2017, SK Global Chemical Co. Ltd completed the acquisition of Dow’s Ethylene Acrylic Acid (EAA) business. The products offered by Dow’EAA find applications in coatings, polymer paints, cleaners, and adhesives. This acquisition strengthened the company in the high-value packaging material industry and helped enhance its product portfolio.
- Mineral Spirits
- Varnish Makers’ & Painters’ Naphtha
- Others (Paraffinic Solvent, Pentane, and Solvent 140)
- Cleaning & Degreasing
- Paints & Coatings
- Printing inks
- Rubbers & polymers
- Others (Agrochemicals, Pharmaceuticals, and Automotive)
- Rest of Europe
- Australia & New Zealand
- ASEAN (Includes Indonesia, Thailand, Vietnam, Philippines, Malaysia, and Others)
- South Korea
- Rest of Asia-Pacific
- Rest of Latin America
Middle East and Africa (MEA)
- Gulf Cooperation Council (GCC) Countries
- South Africa
- Rest of MEA
Key Findings of the Report:
- Global aliphatic hydrocarbon solvents & thinners market expanding at significant CAGR over 2020 to 2026 due to increase in usage of aliphatic hydrocarbon solvents & thinners in the paints & coatings production due to booming construction industries.
- Based on application paintings and coatings segment accounted for larger market revenue share in 2019 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in global aliphatic hydrocarbon solvents & thinners market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2015-2019) and forecast (2020-2026)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market