Isoparaffin Solvents Market: Global Industry Analysis and Forecast (2023-2029)

 

Isoparaffin Solvents Market was valued at USD 4.01 Billion in 2022, and it is expected to reach USD 5.3 Billion by 2029, exhibiting a CAGR of 4.06 % during the forecast period (2023-2029).

Isoparaffin solvent is branched-chain aliphatic hydrocarbons obtained by crude oil distillation. Isoparaffins are commonly used in alkylation, polymerization, and extraction processes. The benefit of better fuel characteristics of isoparaffin solvents over those of paraffin is a significant proposition accounting for their booming demand The report explores the Isoparaffin Solvents Market’s segments (Connectivity and Content, and by Applications). Data has been provided by market participants, and by Application (North America, Asia Pacific, Europe, Middle East & Africa, and South America). The MMR market report provides a thorough analysis of the rapid advances that are currently taking place across all healthcare systems sectors. Facts and figures, illustrations, and presentations are used to provide key data analysis for the historical period from 2022 to 2029. The report investigates the Isoparaffin Solvents Market’s drivers, limitations, prospects, and barriers. This MMR report includes investor recommendations based on a thorough examination of the Isoparaffin Solvents Market’s contemporary competitive scenario.

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In the report, 2022 is considered as a base year to forecast the market from 2023 to 2029. 2022’s market size is estimated on real numbers and outputs of the key players and major players across the globe. Past five years' trends are considered while forecasting the market through 2029.
Isoparaffin Solvents Market Dynamics
During the forecast period, the rising demand for better synthetic solvents is a critical factor driving the isoparaffin solvents market. The global market is garnering constant substantial gains from rapid-fire strides in oil painting product and exploration industries in varied parts of the world. The growing demand for isoparaffin solvents in various industrial sectors in developing and developed regions is also bolstering the growth of the isoparaffin detergents request. In the artificial sector, wide demand for these solvents is contributed by manufactured cleaning and metalworking applications. Rising use of isoparaffinic petroleum hydrocarbons for inks for food contact materials is also propelling the uptake of isoparaffin solvents in the food industry.

The global isoparaffin solvents market is expected to gain substantial profit from their rising demand for polymerization. Rapid strides made by the petro- chemicals and automotive industries will fuel the speedy expansion of the market. still, over the past few years, the consumption of isoparaffin solvents has dampened to an extent, owing to their advanced cost than that of paraffin components. In recent years, vendors are increasingly looking to offer high- value solvents and meet the current customization product portfolio needs. This is likely to produce new avenues in the market.
Isoparaffin Solvents Market Segment Analysis:
By Application, the industrial segment is expected to grow at the highest CAGR of XX % during the forecast period. This growth is attributed to the growth of industrialization across developed and developing economies. Additionally, the adhesives and sealants industry has been witnessing healthy growth over the past few decades and is projected to continue doing so during 2022-2029.
The COVID-19 pandemic has resulted in increased sales of pharma and personal care product like skincare products. In April 2020, as per the L'Oreal quarterly report published, brands such as Lancôme, Kiehl’s and Helena Rubinstein, which have a large proportion of skincare products. Thus, the skincare section with commodity brands and brands focusing on personal hygiene and cleansing is expected to fuel demand for isoparaffin solvents in pharma and personal care sector.

Based on Product Type, the C9-C11 segment dominated the isoparaffin solvents market during the forecast period, accounting for a share of XX.19%. The C9-C11 remains the top-selling product in isoparaffin solvents space. The C12 is expected to be the second best selling product type, however, C4-C8 continues to register moderate demand in future, as indicated by the MMR report for market. Likewise, the MMR report will provide an accurate prediction of the contribution of the various segments to the growth of the market size.
Regional Insights:
Geographically, North America accounted for the largest market share in 2022, was valued at US$ XX Mn, thanks to rapid suburbanization and the extensive presence of the automobile industry. The growing awareness of maintaining personal care in economies such as the U.S. and Canada is helping the further growth of the isoparaffin solvents market in North American. However, Europe occupied the second largest market share of XX % in 2022. With an extensive presence of the agrochemical industry in EU regions, the demands for isoparaffin solvents are witnessing an increase in the region.

The research study includes the profiles of leading companies operating in the global market. Such as Total S.A company provides the ISEAN range of isoparaffin solvents, mainly for resins paints, and metalworking applications. Idemitsu Kosan Co., Ltd, one of the leading participants in the market, provides IP 1620, which finds uses, mainly in coatings and paint. The objective of the report is to present a comprehensive analysis of the Global arket including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
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Global Isoparaffin Solvents Market


Report Coverage
Details


Base Year:
2022
Forecast Period:
2023-2029


Historical Data:
2018 to 2022
Market Size in 2022:
US$ 4.01 Bn.


Forecast Period 2023 to 2029 CAGR:
4.06 %
Market Size in 2029:
US$ 5.3 Bn.


 Segments Covered:
by Product
C4-C8
C9-C11
C12
C13-C14
C15 <


by Application
Paints & Coating
Industrial
Metal Working Fluids
Industrial Cleaning
Adhesives & Sealant
Polymerization
Agrochemical
Pharma and Personal Care Product
Others



Isoparaffin Solvents Market, by Region
Asia Pacific (China, South Korea, Japan, India, Australia, Indonesia, Malaysia, Vietnam, Taiwan, Bangladesh, Pakistan and Rest of APAC)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria and Rest of Europe)
North America (United States, Canada and Mexico)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina Rest of South America)
Isoparaffin Solvents Market Key Players
1. ExxonMobil Chemical
2. Emerson
3. Synchrony
4. Braskem
5. Chevron Phillips Chemical Company
6. Total S.A
7. Idemitsu
8. Bosch Rexroth
9. Shell Chemicals
10. Maruzen Petrochemical CO., LTD
11. Fuji Electric
12. INEOS
13. RB Products, Braskem
14. Meidensha
15. Jing-Jin Electric
16. Mehta Petro Refineries Limited
17. Idemitsu Kosan Co. Ltd
18. Royal Dutch Shell Chemicals
19. Nidec
20. Luan Group
21. Neste Oyj

Frequently Asked Questions:

1] What segments are covered in the Global Isoparaffin Solvents Market report?
Ans. The segments covered in the market report are based on Product and by Application.

2] Which by Application is expected to hold the highest share in the Global Isoparaffin Solvents Market?
Ans. The Asia Pacific by Application is expected to hold the highest share in the market.

3] What is the market size of the Global Isoparaffin Solvents Market by 2029?
Ans. The market size of the market by 2029 is expected to reach USD 5.3 Bn.

4] What is the forecast period for the Global Isoparaffin Solvents Market?
Ans. The forecast period for the market is 2023-2029.

5] What was the market size of the Global Isoparaffin Solvents Market in 2022?
Ans. The market size of the market in 2022 was valued at USD 4.01 Bn.