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Aliphatic Hydrocarbon Solvents & Thinners Market by Type, Application - Global Forecast to 2024

Aliphatic Hydrocarbon Solvents & Thinners Market by Type, Application - Global Forecast to 2024

  • July 2019
  • 172 pages
  • ID: 4655401
  • Format: PDF
  • By MarketsandMarkets

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The aliphatic hydrocarbon solvents & thinners market is projected to grow at a CAGR of 2.7% from 2019 to 2024, in terms of value.

The aliphatic hydrocarbon solvents & thinners market is projected to grow from USD 4.6 billion in 2019 to USD 5.2 billion by 2024, at a CAGR of 2.7% from 2019 to 2024. The increasing demand for aliphatic hydrocarbon solvents & thinners in applications, such as paints & coatings, cleaning & degreasing, and others drives the global aliphatic hydrocarbon solvents & thinners market. Stringent environmental regulations regarding the usage of aliphatic hydrocarbon solvents & thinners in varnishes and vehicle refinishing products are expected to restrain growth of this market. These rules and regulations restrict the usage of some aliphatic hydrocarbon solvents & thinners, as they contain Volatile Organic Compounds (VOCs) which are hazardous for health and environment.

The paints & coatings segment is projected to lead the aliphatic hydrocarbon solvents & thinners market in terms of both, value and volume during the forecast period
Based on application, the paints & coatings segment led the aliphatic hydrocarbon solvents & thinners market in 2018 in terms of both, value and volume.Growth of this segment can be attributed to the increasing demand for decorative, automotive, industrial, and protective paints & coatings in both, developed and emerging countries.

There is an increased demand for paints & coatings in the architectural paints & coatings segment, which is projected to lead the market during the forecast period. This growing demand for paints & coatings for the increasing number of residential and commercial buildings due to rising population and urbanization majorly in China and India is expected to drive the global market during the forecast period.
The varnish makers’ & painters’ naphtha type segment is projected to lead the aliphatic hydrocarbon solvents & thinners market in terms of both, value and volume from 2019 to 2024
Based on type, the varnish makers’ & painters’ naphtha segment accounted for the largest share of the aliphatic hydrocarbon solvents & thinners market in 2018.The varnish makers’ & painters’ naphtha segment is projected to lead the market in terms of both, value and volume during the forecast period.

Varnish makers’ & painters’ naphtha is obtained by the distillation of hydrocarbons.A major source of naphtha is crude oil, which is processed in refineries to break down the chains of hydrocarbons.

Varnish makers’ & painters’ naphtha is majorly used in hydrocarbon cracking, laundry soaps, organic chemistry, cleaning fluids, and various other applications.
Asia Pacific is projected to lead the aliphatic hydrocarbon solvents & thinners market during the forecast period, in terms of both, value and volume
The Asia Pacific region is projected to lead the aliphatic hydrocarbon solvents & thinners market from 2019 to 2024, in terms of both, value and volume.This region is witnessing increasing car ownership due to the rising disposable income of the middle-class population and increasing number of residential and commercial buildings.

The market in this region is also projected to grow at the highest CAGR from 2019 to 2024, in terms of value, owing to the increased demand for aliphatic hydrocarbon solvents & thinners from countries, such as China, India, Japan, and South Korea.

Profile break-up of primary participants for the report:
• By Company Type: Tier 1 – 40%, Tier 2 – 35%, and Tier 3 – 25%
• By Designation: C-level Executives – 25%, Directors – 25%, and Others – 50%
• By Region: North America – 40%, Europe – 25%, Asia Pacific – 25%, the Middle East & Africa- 5%, and South America – 5%

Furthermore, as a part of the qualitative analysis of the aliphatic hydrocarbon solvents & thinners market, the research provides a comprehensive review of the drivers, restraints, opportunities, and challenges influencing the growth of the market across the globe. It also discusses competitive strategies adopted by the leading market players, such as 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), and LyondellBasell Industries Holdings B.V. (Netherlands).

Research Coverage:
The report defines, segments, and projects the size of the aliphatic hydrocarbon solvents & thinners market based on type, application, and region.It strategically profiles the key players and comprehensively analyzes their market share and core competencies.

It also tracks and analyzes competitive developments, such as acquisitions, expansions, partnerships, and new product launches adopted by them in the market.

Reasons to Buy the Report:
The report is expected to help market leaders/new entrants in the market by providing them the closest approximations of revenue numbers of the aliphatic hydrocarbon solvents & thinners market and its segments.This report is also expected to help stakeholders obtain an improved understanding of the competitive landscape of the market, gain insights to improve the positions of their businesses, and make suitable go-to-market strategies.

It also enables stakeholders to understand the pulse of the market and provide them information on key market drivers, restraints, challenges, and opportunities.

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