Aliphatic Hydrocarbon Solvents & Thinners Market Size – Industry Structure Evaluation, Demand Drivers Analysis, Regional Growth Analysis and Identification, Competitive Positioning Review & Global Market Size Forecast to 2030
Overview
The Aliphatic Hydrocarbon Solvents & Thinners Market size was valued at USD 3.97 Billion in 2023 and the total Aliphatic Hydrocarbon Solvents & Thinners revenue is expected to grow at a CAGR of 3% from 2024 to 2030, reaching nearly USD 4.89 Billion.
The report includes the analysis of impact of COVID-19 lock-down on the revenue of market leaders, followers, and disrupters. Since lock down was implemented differently in different regions and countries, impact of same is also different by regions and segments. The report has covered the current short term and long term impact on the market, same will help decision makers to prepare the outline for short term and long term strategies for companies by region.
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Aliphatic Hydrocarbon Solvents & Thinners Market Dynamics:
The factors expected to drive the growth of market are replacement of turpentine by mineral spirits, high growth in the paints & coatings production, and rising penetration of aliphatic hydrocarbon solvents & thinners in Asia-Pacific region. Booming construction industry and the countries in Middle East region are some of untapped openings for aliphatic hydrocarbon solvents & thinners industry.
According to type varnish makers & paints naphtha segment held the largest share in 2023 and is expected to be the largest segment in aliphatic hydrocarbon solvents & thinners market, by 2030. Properties of varnish makers & painter's naptha make it a desired solvent for several end-user industries, majorly the paints & coatings industry.
Based on application, paints & coatings segment of aliphatic hydrocarbon solvents & thinners industry is expected to grow at the maximum CAGR from 2024 to 2030, in terms of both, value and volume. Aliphatic hydrocarbon solvents & thinners are mainly utilized in production of paints & coatings because the mix of solvents being used in this industry are frequently changing, and these satisfy growing demands for improved performance.
Increasing demand for paints & coatings from different end-use industries, like decorative, automotive, industrial, and protective paints & coatings is fueling the growth of the paints & coatings segment of aliphatic hydrocarbon solvents & thinners market, globally.
Aliphatic Hydrocarbon Solvents & Thinners Market Regional Insights:
Asia-Pacific and Middle East & Africa are expected to be the fastest-growing regional aliphatic hydrocarbon solvents & thinners market by 2030. Huge infrastructure projects and growth of the paints & coatings industry in these regions are boosting the growth of the aliphatic hydrocarbon solvents & thinners market in these regions.
The objective of the report is to present a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, industry-validated market data and projections with a suitable set of assumptions and methodology. The report also helps in understanding Aliphatic Hydrocarbon Solvents & Thinners Market dynamics, structure by identifying and analyzing the market segments and project the global market size. Further, the report also focuses on the competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence. The report also provides PEST analysis, PORTER’s analysis, and SWOT analysis to address the question of shareholders to prioritizing the efforts and investment in the near future to the emerging segment in Aliphatic Hydrocarbon Solvents & Thinners Market.
Aliphatic Hydrocarbon Solvents & Thinners Market, Key Highlights:
Global Market analysis and forecast, in terms of value.
Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the Global Market
Global Market segmentation on the basis of type, source, end-user, and region (country-wise) has been provided.
Global Market strategic analysis with respect to individual growth trends, future prospects along with the contribution of various sub-market stakeholders have been considered under the scope of study.
Global Market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the Global Market are also profiled.
Aliphatic Hydrocarbon Solvents & Thinners Market Scope: Inquire before buying
| Global Aliphatic Hydrocarbon Solvents & Thinners Market | |||
|---|---|---|---|
| Report Coverage | Details | ||
| Base Year: | 2023 | Forecast Period: | 2024-2030 |
| Historical Data: | 2018 to 2023 | Market Size in 2023: | USD 3.97 Bn. |
| Forecast Period 2024 to 2030 CAGR: | 3% | Market Size in 2030: | USD 4.89 Bn. |
| Segments Covered: | by Type | Varnish Makers & Painters Naphtha Mineral Spirit Hexane Heptane |
|
| by Application | Paints & Coatings Cleaning & Degreasing Adhesives Aerosols Rubber & Polymer |
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Aliphatic Hydrocarbon Solvents & Thinners Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Aliphatic Hydrocarbon Solvents & Thinners Market, Key Players are
1. ExxonMobil Chemical, Inc.
2. SK Global Chemical Co
3. Royal Dutch Shell Plc.
4. Calumet Specialty Products Partners
5. Gotham Industries
6. Gulf Chemicals and Industrial Oils Co
7. Recochem Inc.
8. HCS Group
9. W.M. Barr
10. Ganga Rasayanie (P) Ltd (India),
11. NOCO Energy Corporation
11. Gadiv Petrochemical Industries Ltd.
12. Hunt Refining Company
13. Honeywell International Inc.
14. BASF SE
15. LyondellBasell Industries Holdings B.V.
16. MK Aromatics
17. Kandla Energy & Chemicals
18. Haltermann Carless
19. NOCO Energy Corporation
20. Shell
Frequently Asked Questions:
1. Which region has the largest share in Global Market?
Ans: Asia-Pacific region held the highest share in 2023.
2. What is the growth rate of Global Market?
Ans: The Global Market is growing at a CAGR of 3% during forecasting period 2024-2030.
3. What is scope of the Global market report?
Ans: Global Market report helps with the PESTEL, PORTER, COVID-19 Impact analysis, Recommendations for Investors & Leaders, and market estimation of the forecast period.
4. Who are the key players in Global market?
Ans: The important key players in the Global Market are – ExxonMobil Chemical, Inc., SK Global Chemical Co, Royal Dutch Shell Plc., Calumet Specialty Products Partners, Gotham Industries, Gulf Chemicals and Industrial Oils Co, Recochem Inc., HCS Group, W.M. Barr, Ganga Rasayanie (P) Ltd (India),, NOCO Energy Corporation ,, Gadiv Petrochemical Industries Ltd., Hunt Refining Company, Honeywell International Inc., BASF SE, LyondellBasell Industries Holdings B.V., MK Aromatics, and Kandla Energy & Chemicals
5. What was the Global Aliphatic Hydrocarbon Solvents & Thinners Market size in 2023?
Ans: The Global Aliphatic Hydrocarbon Solvents & Thinners Market size was USD 3.97 Billion in 2023.