Aliphatic Hydrocarbon Solvents and Thinners Market Size Forecast to Reach $5.39 Billion by 2025

Aliphatic Hydrocarbon Solvents and Thinners Market size is forecast to reach $5.39 billion by 2025, after growing at a CAGR of 2.70% during 2020-2025. Surging demand for paints & coatings from decorative, automotive, industrial, and protective Paints & coatings industries is fueling the growth of the market across the globe. Increasing demand for residential and commercial buildings from emerging economies acts as an opportunity for the growth of the aliphatic hydrocarbon solvents & thinners market. Growing oil & gas industry will drive aliphatic hydrocarbon solvents & thinners market. They are usually added in mineral spirits, petroleum naphtha, octane and petroleum distillates to enhance its performance.

Full Report Link @ https://www.industryarc.com/Research/Aliphatic-Hydrocarbon-Solvents-Thinners-Market-Research-500269

By Type - Segment Analysis

Varnish makers & painters naphtha segment held a significant share in aliphatic hydrocarbon solvents and thinners market in 2019. The rising demand for varnish makers & painters naphtha for use in paints & coatings, and cleaning & degreasing is expected to drive the growth of this segment of the market. Varnish makers & painters naphtha has a high number of applications wherein it can be used. It is used as a thinner for paints & coatings, as a solvent in hydrocarbon cracking, in laundry soaps, organic chemistry, cleaning fluids, and various other applications. It is also used to make varnish and to fuel camping cook stoves and lamps as well as to process fuels, such as gasoline and kerosene. A majority of the manufacturers across the globe produce aliphatic hydrocarbon solvents & thinners, which is a type of varnish makers & painters naphtha.

Request for Sample of the Report @ https://www.industryarc.com/pdfdownload.php?id=500269
Report Price: $ 4500 (Single User License)

By Application - Segment Analysis

Paints & Coatings segment held a significant share in aliphatic hydrocarbon solvents and thinners market in 2019 growing at a CAGR of 2.96% during the forecast period. Aliphatic solvents are in the category of aliphatic compounds. Aliphatic solvents do not contain a benzene ring. They are mixtures of saturated, long straight chain (normal-paraffin), branched chain (iso-paraffin) or cyclic paraffins. These solvents are produced by the distillation of crude oil by the appropriate boiling point range fraction, and then are treated to improve their color and odor. The increasing buildings & construction sector is attributing to the growing application of aliphatic solvents as thinners and diluents in paints and coatings thereby increasing its market. In addition to the construction adhesives, paints and coatings optimized for the construction industry, processors also use these solvents as cleaning and degreasing agents. It is estimated that in United Kingdom around 27,000 – 50,000 new homes are built year-over-year from 2018 which in turn increases scope for this market.

Geography- Segment Analysis

Asia Pacific dominated the aliphatic hydrocarbon solvents and thinners market with a share of more than 37%, followed by North America and Europe. Due to the high demand application from countries like China, India and Japan the market for aliphatic hydrocarbon solvents and thinners has been increasing. Rise in urbanization, population, and increase in the income of the middle-class population of the region have resulted in increased demand for residential and commercial buildings in the Asia Pacific, thereby contributing to the growth of the aliphatic hydrocarbon solvents & thinners market in this region.

In 2018, the Indian government has announced an investment worth USD 31,650 billion for the construction of 100 cities, under the smart cities plan. 100 smart cities and 500 cities are likely to invite investments worth INR 2 trillion (~USD 28.18 billion), over the coming five years creating scope for the application of aliphatic hydrocarbon solvents and thinners in paints and coatings. The Chinese government has rolled out massive construction plans, including making provisions for the movement of 250 million people to its new megacities, over the next ten years creating a major scope for construction activity thereby increasing the market for aliphatic hydrocarbon solvents and thinners over the coming years.

Inquiry Before Buying @ https://www.industryarc.com/reports/request-quote?id=500269

Drivers – Aliphatic Hydrocarbon Solvents and Thinners Market

Increasing usage of aliphatic hydrocarbon solvents and thinners in various applications

Aliphatic hydrocarbon solvents and thinners components are diluted in paints for easy mixture and reducing thickness. In addition, ease in paint application after mixing it with the product will boost the industry growth. Expansion in automotive industry, growing population, increasing disposable income and rising urbanization in developing countries is accelerating industrial rubber demand. Component plays vital role in rubber manufacturing; they are applied in production of tires to glue different pieces and layers of rubber for durability. Increasing demand for rubber in various industries will significantly propel aliphatic hydrocarbon solvents & thinners market. The product is extensively used as carriers for aerosols and disinfectants. Aerosol is a substance enclosed under pressure and released as a fin spray of a propellant gas. Container holding aerosol should be strong enough to carry it. Mishandling of aerosol can lead to severe consequences that can lead to harmful effects on human and its surroundings.

Challenges – Aliphatic Hydrocarbon Solvents and Thinners Market

Health effects

Adverse effects on the human health may restrain aliphatic hydrocarbon solvents & thinners market. Their short-term exposure causes dizziness, headache, and irritation to skin, eyes and unconsciousness. Its long-term exposure causes muscular weakness, distorted vision, damages to lungs & skin, numbness, fatigue and neurological disorder. Further, strict government regulations on these products may restrain the industry growth.

Market Landscape

Technology launches, acquisitions and R&D activities are key strategies adopted by players in the aliphatic hydrocarbon solvents and thinners market. In 2019, the market of aliphatic hydrocarbon solvents and thinners has been consolidated by the top five players accounting for xx% of the share. Major players in the aliphatic hydrocarbon solvents and thinners market are ExxonMobil Chemical, Inc., SK Global Chemical Co., Ltd., Royal Dutch Shell Plc., Calumet Specialty Products Partners, L.P., Gotham Industries, Gulf Chemicals and Industrial Oils Co., Recochem Inc., HCS Group, W.M. Barr, Ganga Rasayanie Ltd, NOCO Energy Corporation, Gadiv Petrochemical Industries Ltd., Hunt Refining Company, Honeywell International Inc., BASF SE, and LyondellBasell Industries Holdings B.V. among others.

Geographical Expansion/ Acquisition

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.

In March 2017, Royal Dutch Shell Plc. opened the Shell Technology Centre, a new technology hub in Bangalore, India, thereby expanding its R&D activities in Asia. This is a 52-acre, custom-built technology center, which can house up to 1,500 experts collaborating on innovative projects, globally. It is one of the 3 major technology hubs of the company, with the other 2 located in the Netherlands and the US.

Key Takeaways

Aliphatic hydrocarbon solvents and thinners market is expected to grow during the forecast period owing to growing application in paints and coatings across the globe.

Varnish makers & painters naphtha is the most widely used type of aliphatic hydrocarbon solvent and thinner globally.

Asia Pacific dominated the aliphatic hydrocarbon solvents and thinners market.

Related Reports :

A. Coating Materials Market
https://www.industryarc.com/Report/18620/coating-materials-market.html

B. Paint Protection Film Market
https://www.industryarc.com/Research/Paint-Protection-Film-Market-Research-503421

For more Chemicals and Materials Market reports @ https://www.industryarc.com/Domain/4/chemicals-materials-market-research.html

Venkat Reddy
Sales Director
Email: venkat@industryarc.com
Website: https://www.industryarc.com
Phone: (+1) 970-236-3677

About IndustryARC: IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to sales@industryarc.com to discuss more about our consulting services.

This release was published on openPR.