According to the new market research
report “Aliphatic Solvents & Thinners Market by
Type (Varnish Makers’& Painters’ Naphtha, Mineral Spirits, Hexane, Heptane,
Paraffinic Solvent, Pentane, and Solvent 140), Application, Region – Global
Forecast to 2025″, published by MarketsandMarkets™, the Aliphatic Solvents &
Thinners Market is projected to grow from USD 3.4 billion in 2020 to USD 4.3
billion by 2025, at a CAGR of 4.5% from 2020 to 2025. Increased demand for
paints & coatings, which require aliphatic hydrocarbon solvents &
thinners, from various end-use industries, such as decorative, automotive, and
industrial, is one of the key factors driving the growth of the aliphatic
hydrocarbon solvents & thinners market across the globe.
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205 – Tables
44 – Figures
206 – Pages
The paints & coatings segment is
projected to lead the aliphatic hydrocarbon solvents & thinners market in
terms of both value and volume during the forecast period
Based on application, the paints & coatings segment of the aliphatic
hydrocarbon solvents & thinners market is projected to grow at the highest
CAGR from 2020 to 2025 in terms of both, value and volume. Aliphatic
hydrocarbon solvents & thinners are primarily used in the production of
paints & coatings because the mix of solvents used in this industry are
continually changing, and these satisfy increasing demands for enhanced
performance. Increased demand for paints & coatings from various end-use
industries, such as decorative, automotive, industrial, and protective paints
& coatings, is driving the growth of the paints & coatings segment of
the aliphatic hydrocarbon solvents & thinners market worldwide.
The varnish makers’ & painters’
naphtha segment is projected to lead the aliphatic hydrocarbon solvents &
thinners market in terms of both value and volume from 2020 to 2025
Based on type, the varnish makers’ & painters’ naphtha segment of the
aliphatic hydrocarbon solvents & thinners market is projected to grow at a
higher CAGR than all other segments during the forecast period in terms of both
value and volume. Varnish makers’ & painters’ naphtha has a high number of
applications wherein it can be used. It is used as a thinner for paints &
coatings, as a solvent in hydrocarbon cracking, in laundry soaps, organic
chemistry, cleaning fluids, and various other applications. It is also used to
make varnish and to fuel camping cook stoves and lamps as well as to process
fuels, such as gasoline and kerosene. A majority of the manufacturers across
the globe produce aliphatic hydrocarbon solvents & thinners, which is a
type of varnish makers’ & painters’ naphtha.
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The aliphatic hydrocarbon solvents &
thinners market in the Asia Pacific is projected to grow at the highest CAGR in
terms of both value and volume during the forecast period
The aliphatic hydrocarbon solvents & thinners market in the Asia Pacific is
projected to grow at the highest CAGR in terms of both value and volume from
2020 to 2025. China, India, Japan, and South Korea are key countries
contributing to the increased demand for aliphatic hydrocarbon solvents &
thinners in this region. Innovations in production techniques of electronic
appliances, rise in population, and increase in the income of the middle-class
population, have resulted in increased demand for consumer durables and
automobiles in the Asia Pacific, thereby contributing to the growth of the
aliphatic hydrocarbon solvents & thinners market in this region.
ExxonMobil Chemical, Inc. (US), SK Global Chemical Co., Ltd. (South Korea),
Royal Dutch Shell Plc (Netherlands), Calumet Specialty Products Partners, L.P.
(US), Gotham Industries (Canada), Gulf Chemicals and Industrial Oils Co. (Saudi
Arabia), Recochem Inc. (Canada), HCS Group (Germany), W.M. Barr (US), Ganga
Rasayanie (P) Ltd (India), NOCO Energy Corporation (US), Gadiv Petrochemical
Industries Ltd. (Israel), Hunt Refining Company (US), Honeywell International
Inc. (US), BASF SE (Germany), and LyondellBasell Industries Holdings B.V.
(Netherlands) are some of the leading players operating in the aliphatic
hydrocarbon solvents & thinners market.
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