India De-aromatic Solvents Market Sale to Top INR 6.07 Bn by 2027-end|Key Players- Exxon Mobil, Total S.A. and more

De-aromatic Solvents Market in India Forecast to 2027

The report titled "De-aromatic Solvents Market: India Industry Analysis and Forecast, 2016-2024" reveals that in 2020, INR 2,925.9 Mn were garnered from the sales of de-aromatic solvents in India, which is projected to reach INR 6.07 Bn by 2027-end, reflecting a CAGR of 7.1%. India De-aromatic Solvents Market is a rapidly growing industry in India, due to the rising demand for specialty solvents.

De-aromatic solvents are highly hygroscopic compounds with low-odor properties which make them suitable for various industrial applications. These include paint removers, adhesives, degreasers, floor cleaners and other cleaning products. India has been producing de-aromatic solvents since the early 2000s, and its production capacity continues to grow year over year.

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The de-aromatic market in the western part of the country is expected to witness the highest growth, while the Northern and the Southern parts will also continue to account for respectable market shares. On the other hand, growth of the market will be sluggish in the eastern part of India over 2024.

Demand for India's de-aromatic solvents has been driven primarily by the international market, particularly China, Japan and the US. India's share of global exports of these products has also grown steadily over time. The Indian government has taken steps to support the growth of this sector through incentives such as tax exemptions on investments in de-aromatic solvents manufacturing units and reduced import duties.

Key Companies- 

• Exxon Mobil Corporation
• Total S.A.
• Royal Dutch Shell plc
• Isu Exachem
• Mehta Petro Refineries
• Avani Petrocehm Pvt Ltd.
• Raj Petro Specialties P. Ltd.
• Eastern Petroleum Private Limited
• Others

These companies have invested heavily in research and development to improve their process chemistry for better quality products. As a result, India has become an important player in the global market for these products.

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In addition to these suppliers, there are numerous small local manufacturers who produce de-aromatized solvents on a smaller scale but at competitive prices due to their low operational costs and flexibility when it comes to customizing product specifications.

Various factors have contributed towards India's success in manufacturing de-aromatized solvents, including access to cheap labor; cost effective manufacturing processes; availability of raw materials; well established infrastructure; supportive government policies; export subsidies; liberalization policies; free trade agreements with other countries; increasing FDI inflows into India from abroad; use of advanced technologies etc.

However, there are certain challenges which need to be addressed before India can realize its full potential in this sector: lack of knowledge about new technologies used in production process leading to delayed modernizations and increased costs; lack of awareness about quality standards among customers leading to lack of trust between buyers and sellers resulting in price volatility; frequent changes in government regulations making investments risky at times etc.

Despite these challenges, it is clear that India's potential is huge as far as production of de-aromatized solvents is concerned. There is immense scope for further investments which will help create employment opportunities and strengthen India's economy while bringing down pollution levels through cleaner processes and methods used during manufacturing process. With proper planning and execution along with reliable infrastructure support this industry can achieve its desired growth trajectory within next few years resulting in significant economic benefits for India as well as contributing positively towards environmental conservation efforts around the world due to reduced emissions caused by usage of clean technology during production process .

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India De-Aromatic Solvents Market: Key Trends

• Rising preference for high flash point products for metal working and drilling fluids applications expected to provide an impetus on the market.
• Some of the leading market participants are actively focusing on offering de-aromatic solvents that cater to specific end-use requirements.
• Of late, companies that are operating de-aromatic solvents market globally, are laying emphasis on further quality improvement and boosting the production of solvents using natural gas-based feedstock, which is synthesized using Gas-To-Liquid (GTL) technology as against conventional oil-based feedstock.
• The region of Asia Pacific is expected to be an attractive destination for manufacturers and suppliers of de-aromatic solvents, owing to its growing demand from some of emerging countries such as China, India and South Korea.
• Also, manufacturers are channelizing resources towards ramping up production capacities in order to cater to the soaring demand from a diverse set of industries.

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