De-aromatic Solvents: Global Market Driven by Steady Growth of Paints and Coatings Industry

“De-aromatic Solvents Demand Growing due to Concerns of ill-Effects of Traditional solvents with High VOC Content”

Globally, the revenue generated from sales of de-aromatic solvents has been estimated to be valued at US$ 1.56 Bn by 2016 end and is expected to increase at a CAGR of 5.9% during 2016 – 2022, Sales of De-aromatic Solvents is expected to Reach US$ 2,918 Mn by 2022.

Major players in de-aromatic solvents market have channelized efforts towards developing eco-friendly or green product offerings that employ bio-based raw materials for their synthesis and, thus, eventually do away with the use of conventional solvents in certain applications. Owing to the increasing demand for greener alternatives, the bio-based solvents market is slated to register a steady CAGR of around 6–7% over the forecast period. Another major factor that is projected to impede the growth of the de-aromatic solvents market, especially in paints & coatings application segment, is increasing demand for water-based paints & coatings, powder coatings, among others across the globe. Consumption of de-aromatic solvents is expected to increase from 1,718,100 metric tons in 2015 to 2,230,972 kilotons by 2022, increasing at a CAGR of 3.8% during the forecast period.

Asia-Pacific accounted for the largest revenue share of the global de-aromatic solvents market in 2014, and the market in the region is anticipated to increase at the highest CAGR over the forecast period. Consumption of de-aromatic solvents in Asia-Pacific is projected to increase by 1.4X between 2014 and 2022. Mature markets, i.e. North America and Europe, are expected to register relatively slower growth during the forecast period.

Browse through the full Global De-aromatic Solvents Market Report TOC@ http://www.persistencemarketresearch.com/market-research/dearomatic-solvents-market/toc

Exxon Mobil Corporation, Royal Dutch Shell plc. Total S.A., and Idemitsu Kosan Co., Ltd. are among the leading players in the global de-aromatic solvents market. Other market players include CEPSA, Gandhar Oil Refinery India Ltd, Neste Oyj, and SK Global Chemical Co., Ltd.

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This release was published on openPR.