Press release
India De-aromatic Solvents Market Anticipated to Hit US$ 116.3 Mn by 2031 - Persistence Market Research
India De-aromatic Solvents Market
The India de-aromatic solvents market has witnessed substantial growth in recent years, driven by increasing demand across multiple industries, including paints and coatings, adhesives, printing inks, and metalworking fluids. De-aromatic solvents, known for their low toxicity and environmental benefits compared to traditional aromatic solvents, are gaining popularity in industrial applications. This report provides a detailed analysis of the India de-aromatic solvents market, covering key drivers, challenges, market trends, technological advancements, and regional insights.
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De-aromatic solvents are highly refined hydrocarbon-based solvents with low aromatic content, making them less hazardous and more environmentally friendly. Their low odor, high flash points, and reduced volatile organic compound (VOC) emissions make them a preferred choice for industrial applications.
As industries seek sustainable and compliant solutions, the demand for de-aromatic solvents in India is expected to rise, supporting both economic growth and environmental sustainability.
Market Projections and Forecast
According to Persistence Market Research's projections, the India de-aromatic solvents market is poised for significant expansion. The market is estimated to reach a valuation of USD 78.4 million in 2024 and is expected to grow at a compound annual growth rate (CAGR) of 7.30% during the forecast period, reaching approximately USD 156.9 million by 2031.
This growth trajectory is supported by stringent regulatory policies aimed at reducing emissions and promoting environmentally friendly industrial solvents. Additionally, the increasing adoption of de-aromatic solvents in key end-use industries is expected to drive market expansion across the country.
Market Dynamics
Drivers of Market Growth
Stringent Environmental Regulations: With the Indian government implementing stricter environmental norms to reduce emissions and VOCs, industries are shifting toward low-aromatic and eco-friendly solvents. This transition is fueling demand for de-aromatic solvents in various applications.
Rising Demand in Paints and Coatings Industry: The construction and automotive sectors are expanding rapidly in India, increasing the demand for high-performance coatings and paints. De-aromatic solvents provide improved safety and environmental benefits, making them a preferred choice for manufacturers.
Growth in the Adhesives and Sealants Market: The booming packaging, construction, and automotive sectors are driving demand for adhesives and sealants. De-aromatic solvents are widely used in these applications due to their low toxicity and high efficiency.
Expanding Use in Metalworking Fluids: The metal fabrication and manufacturing industries require high-quality lubricants and coolants. De-aromatic solvents enhance the performance and safety of metalworking fluids, leading to increased adoption in this sector.
Improved Worker Safety and Health Regulations: Industrial workplaces are increasingly focusing on employee safety and well-being. The low odor and toxicity of de-aromatic solvents make them a safer alternative to conventional solvents, contributing to their growing usage.
Challenges in the Market
High Production Costs: De-aromatic solvents undergo extensive refining processes, leading to higher production costs. This price factor can pose a challenge for widespread adoption, especially among cost-sensitive industries.
Availability of Alternative Solvents: The presence of alternative eco-friendly solvents such as water-based and bio-based solvents can limit market growth, as some industries may opt for these options due to cost-effectiveness and regulatory compliance.
Volatility in Raw Material Prices: The prices of crude oil-based raw materials used in manufacturing de-aromatic solvents are subject to fluctuations. This volatility can impact the pricing structure and profitability of market players.
Market Trends and Technological Innovations
Shift Toward Bio-Based Solvents: The market is witnessing an increasing shift towards bio-based and sustainable solvent alternatives. While de-aromatic solvents offer low toxicity, advancements in green chemistry are leading to the development of more sustainable options.
Advancements in Formulation Technologies: Continuous research and development efforts are improving the formulation of de-aromatic solvents, enhancing their solvency power, performance, and safety profile for industrial applications.
Increased Focus on Low-VOC Solutions: The rising emphasis on reducing VOC emissions is pushing manufacturers to develop ultra-low VOC de-aromatic solvents that comply with environmental regulations while maintaining high efficiency.
Growing Adoption in the Pharmaceutical Industry: The pharmaceutical sector is beginning to explore de-aromatic solvents for applications such as drug formulation and cleaning processes due to their purity and low toxicity.
India De-aromatic Solvents Market Segmentation
By Type
Low Flash Point De-aromatic Solvents
Medium Flash Point De-aromatic Solvents
High Flash Point De-aromatic Solvents
By Application
Paints & Coatings
Adhesives & Sealants
Printing Inks
Metalworking Fluids
Cleaning & Degreasing
Pharmaceuticals
Others
Regional Analysis
North India
North India is a key market for de-aromatic solvents due to the strong presence of manufacturing industries, automotive hubs, and infrastructure development. The region's expanding industrial sector is expected to drive market growth.
South India
South India, particularly Tamil Nadu and Karnataka, is witnessing rising demand for de-aromatic solvents in electronics, chemicals, and pharmaceutical industries. The region's emphasis on environmental regulations is further supporting market expansion.
West India
West India, led by Maharashtra and Gujarat, is a major contributor to the India de-aromatic solvents market. The presence of numerous industrial zones, petrochemical plants, and coatings manufacturers makes it a significant growth region.
East India
While East India has a relatively smaller market share, ongoing industrialization and infrastructure projects are expected to boost demand for de-aromatic solvents in the coming years.
Key Companies Profiled in the Report
ExxonMobil Corporation
Shell Plc
TotalEnergies SE
Idemitsu Kosan Co., Ltd.
Neste Corporation
Raj Petro Specialities Pvt Ltd
Eastern Petroleum Pvt Ltd
Avani Petrochem Pvt Ltd
Hindustan Petroleum Corporation Limited (HPCL)
Indian Oil Corporation Ltd (IOCL)
Future Outlook
The future of the India de-aromatic solvents market looks promising, with steady growth expected across various industrial applications. Technological advancements in solvent formulations, coupled with increasing regulatory support for low-VOC solutions, will drive market expansion.
Moreover, as industries prioritize worker safety, environmental sustainability, and operational efficiency, the adoption of de-aromatic solvents is likely to accelerate. Market players are focusing on product innovation, cost-effective manufacturing, and strategic partnerships to gain a competitive edge in the evolving landscape.
Conclusion
The India de-aromatic solvents market is experiencing strong growth, driven by rising industrial demand, stringent environmental regulations, and the need for safer alternatives to traditional solvents. While challenges such as high costs and competition from alternative solvents persist, the market's long-term outlook remains positive.
With advancements in formulation technologies and a growing focus on sustainability, de-aromatic solvents are set to play a crucial role in India's industrial sector. As demand continues to rise, manufacturers and stakeholders must innovate and adapt to emerging trends, ensuring sustainable growth and compliance with evolving environmental standards.
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About Persistence Market Research:
At Persistence Market Research, we specialize in creating research studies that serve as strategic tools for driving business growth. Established as a proprietary firm in 2012, we have evolved into a registered company in England and Wales in 2023 under the name Persistence Research & Consultancy Services Ltd. With a solid foundation, we have completed over 3600 custom and syndicate market research projects, and delivered more than 2700 projects for other leading market research companies' clients.
Our approach combines traditional market research methods with modern tools to offer comprehensive research solutions. With a decade of experience, we pride ourselves on deriving actionable insights from data to help businesses stay ahead of the competition. Our client base spans multinational corporations, leading consulting firms, investment funds, and government departments. A significant portion of our sales comes from repeat clients, a testament to the value and trust we've built over the years.
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