Aliphatic Hydrocarbon Market 2022 Analysis by Latest Trends, Future Growth, And Keyplayers |Philips 66 Company, MK Aromatics Ltd., HCS Group, Gadiv Petrochemical Industries Ltd., NOCO Inc

A comprehensive overview of the global aliphatic hydrocarbons market is presented in the latest research report from Market Research Future (MRFR). The global aliphatic hydrocarbon market is profiled in detail in the report, including an analysis of the major drivers and restraints of the market, the leading segments within the market, and the major players operating in the market and their competitive strategies. The growing aliphatic hydrocarbon market is assessed for readers looking to move ahead in the market; the report provides a detailed analysis of the major competitive strategies utilized by major players in the aliphatic hydrocarbon market. The major drivers and restraints affecting the global aliphatic hydrocarbon market are also profiled in detail in the report.

Aliphatic hydrocarbons are widely used in paints and coating, cleaning agents, adhesives, polymers and rubbers, and printing inks, among others. The high boiling point of aliphatic hydrocarbons makes them the perfect component for paints and other coatings that are intended to last long and provide strong protection from moisture, heat, and other elements. The growing demand from the paints and coatings industry is likely to be a major driver for the global aliphatic hydrocarbon market over the forecast period. Paints and coatings are widely used in construction and automotive industries, in addition to other industrial manufacturing, leading to widespread demand from consumers all over the world. The growing demand from the paints and coatings industry for stronger, longer-lasting formulations is likely to lead to a growing demand for aliphatic hydrocarbons in the coming years.

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The growing demand for commercial and domestic cleaners is also likely to be a major driver for the global aliphatic hydrocarbons market. The growing level of living standards in emerging economies such as India, Malaysia, China, Indonesia, Thailand, Japan, and South Korea has led to a growing demand for household cleaners. Increasing urbanization in developing countries is likely to remain a major driver for the aliphatic hydrocarbon market over the forecast period. The increasing government monitoring in the area of clean industrial sites and workplace safety standards is also likely to lead to a growing demand for industrial cleaners, thus driving the aliphatic hydrocarbon market.

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 Competitive Analysis:

Leading players in the global aliphatic hydrocarbons market include Pure Chemicals Co., Safra Co. Ltd., Philips 66 Company, MK Aromatics Ltd., HCS Group, Gadiv Petrochemical Industries Ltd., NOCO Inc., Ganga Rasaynie (P) Ltd., Kandla Energy and Chemicals Ltd., Gulf Chemicals and Industrial Oil Corporation, Gotham Industries, Shell Global, Calumet Specialty Products Partners LP, SK Global Chemical Co. Ltd., and Exxon Mobil Corporation.

Segmentation:

The global aliphatic hydrocarbon market is segmented on the basis of product type, applications, and region.

On the basis of product type, the market is segregated into varnish maker’s & painter’s naphtha, mineral spirit, hexane, heptane, and others.

Based on the application, the market is segmented into paints & coatings, commercial & domestic cleaning, polymer & rubber, adhesives, aerosols, printing inks, and others. The paints and coating segment held the largest share of 30% in the global aliphatic hydrocarbon market and is likely to remain the leading revenue generator due to the growing demand for paints and coatings in developing countries around the world. Commercial and domestic cleaning is the second largest application segment, followed by adhesives and aerosols.

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 Regional Analysis

The global aliphatic hydrocarbon market has been cataloged across five different geographies, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.

Asia-Pacific accounted for the major market share of the global aliphatic hydrocarbon market in 2018 and is expected to follow a similar trend during the forecast period. In 2018, the region accounted for a share of over 42% based on value. Rapid industrialization in the region due to lucrative investment policies, low production cost, and inexpensive labor costs are supporting the growth of the aliphatic hydrocarbons market in the region. Growing end-use industries such as packaging, automotive & transportation, building & construction, electricals & electronics, healthcare, and power are contributing to the high demand for aliphatic hydrocarbon-based chemical intermediates.

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 North America was the second-largest market for aliphatic hydrocarbons in 2018. The increasing number of ethylene manufacturing facilities to meet the domestic demand and for export is driving the product market growth in the region.

Europe followed North America in terms of the market size in 2018. The developed automotive & transportation industry is ensuring a stable revenue source for the aliphatic hydrocarbon market in the region. Aliphatic hydrocarbons are mostly utilized for manufacturing paints & coatings, adhesives & sealants, rubber & polymer, and others. Furthermore, the strong electricals & electronics industry is also supporting the market growth in the region.

Slow economic development in Latin America affected the growth of the aliphatic hydrocarbon market in 2018. Moreover, the region is expected to show increasing growth during the forecast period due to the rapid industrialization in countries such as Brazil, Mexico, and Venezuela.

The Middle East & Africa is expected to exhibit a rising demand for aliphatic hydrocarbons during the forecast period. The building & construction are likely to provide stable revenue source to the aliphatic hydrocarbons market during the forecast period.

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