DUBLIN--(BUSINESS WIRE)--The "Aliphatic Hydrocarbon Solvents & Thinners Market by Type (Varnish Makers & Painters Naphtha, Mineral Spirit, Hexane, Hepteane), Application (Paints & Coatings, Cleaning & Degreasing, Adhesives, Aerosols, Rubber & Polymer) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.
The global aliphatic solvents & thinners market was valued at USD 4.6 billion in 2018 and is projected to reach USD 5.2 billion by 2024, at a CAGR of 2.7% from 2019 to 2024.
The Asia Pacific region accounted for the largest share of 47.5% of the aliphatic solvents & thinners market in 2018, followed by Europe that had a share of 19.1% in the same year. Asia Pacific is projected to be the fastest-growing market, in terms of value, growing at a CAGR of 3.1% from 2019 to 2024. It is also the largest market for aliphatic solvents & thinners, in terms of value.
Hydrocarbons are organic molecules consisting entirely of carbon and hydrogen atoms. There are two types of hydrocarbons, namely, aliphatic hydrocarbons and aromatic hydrocarbons. Aliphatic hydrocarbons consist of linear chains of carbon atoms and can be classified as methane (CH4) and ethane (C2H6). Aromatic hydrocarbons consist of closed rings of carbon atoms.
Examples of biological molecules that incorporate a benzene ring are the amino acids tyrosine and phenylalanine; cholesterol and its various derivatives (such as the sex hormones estrogen and testosterone); and herbicides. As an exception, the carotenoid beta-carotene is a hydrocarbon that has both, aliphatic and aromatic portions.
Varnish makers & painters' naphtha and mineral spirits, two common aliphatic solvents are widely used in paints and coatings applications, as they can be used with many alkyd and oil paints, enamels, and varnishes to help provide an enhanced finish to products.
The major factor driving the aliphatic solvents market is the increasing demand from the paints & coatings application in the automotive and construction industries. On the other hand, the growing focus of various end-use industries on bio solvents and green solvents due to the harmful effects of petrochemical-based solvents is a key restraint for the market.
Key players such as Royal Dutch Shell PLC (Netherlands), Exxon Mobil Chemical (US), and SK GlobalChemical Co. Ltd (South Korea), among others, have adopted various growth strategies, including acquisitions and expansions, to strengthen their market position.
Key Topics Covered:
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Attractive Opportunities in the Aliphatic Solvents & Thinners Market
4.2 Aliphatic Solvents & Thinners Market, By Type
4.3 Aliphatic Solvents & Thinners Market, By Application
4.4 Asia Pacific Aliphatic Solvents & Thinners Market
4.5 Aliphatic Solvents & Thinners Market Growth
5 Market Overview
5.2 Market Dynamics
220.127.116.11 Replacement of Turpentine With Mineral Spirits
18.104.22.168 Growth in the Paints & Coatings Industry
22.214.171.124 High Demand From the Asia Pacific Region
126.96.36.199 Manufacturers Switching to Green Solvents
188.8.131.52 Growth Opportunities From Emerging Economies in the Middle East
184.108.40.206 Environmental Regulations
6 Industry Trends
6.2 Supply Chain Analysis
6.3 Porter's Five Forces Analysis
7 Aliphatic Solvents & Thinners Market, By Type
7.2 Market Size and Projection
7.2.1 Varnish Makers' & Painters' Naphtha to Lead the Aliphatic Solvents & Thinners Market, By Type
7.3 Varnish Makers' & Painters' Naphtha
7.3.1 The Varnish Makers & Paints Naphtha Segment is Estimated to Account for the Largest Share of the Aliphatic Solvents & Thinners Market
7.4 Mineral Spirits
7.4.1 Mineral Spirits Type Segment Accounted for the Second Largest Share in the Process Oil Market
7.5.1 Growing Demand From Paints & Coatings Industry is Expected to Fuel the Growth of Hexane Segment Market
7.6.1 Asia Pacific to Lead the Heptane Segment Market During the Forecast Period
8 Aliphatic Solvents & Thinners Market, By Application
8.2 Market Size and Projection
8.2.1 Paints & Coatings Application to Lead the Aliphatic Solvents & Thinners Market, By Application
8.3 Paints & Coatings
8.3.1 Paints & Coatings is the Largest and the Fastest Growing Application Segment
8.4 Cleaning & Degreasing
8.4.1 Cleaning & Degreasing Application Segment Accounted for the Second Largest Share in the Aliphatic Solvents & Thinners Market
8.5.1 South America is the Fastest Growing Region in Adhesives Application Segment During the Forecast Period
8.6.1 Asia Pacific to Lead the Aerosols Application Segment During the Forecast Period
8.7 Rubbers & Polymers
8.7.1 Asia Pacific is Estimated to Be the Largest Market in Rubber & Polymer Application Segment in 2019
8.8 Printing Inks
8.8.1 Europe Region to Exhibit Negative Growth in Printing Inks Segment During the Forecast System
9 Aliphatic Solvents & Thinners Market, By Region
- BASF SE
- Calumet Specialty Products Partners, L.P.
- Exxonmobil Chemical, Inc.
- Gadiv Petrochemical Industries Ltd.
- Ganga Rasayanie (P) Ltd
- Gotham Industries
- Gulf Chemicals and Industrial Oils Company
- HCS Group
- Heritage Crystal Clean
- Honeywell International Inc.
- Hunt Refining Company
- Kandla Energy & Chemical Limited
- Lyondellbasell Industries N.V.
- Noco Energy Corporation
- Phillips 66
- Pure Chemicals Co.
- Rb Products, Inc.
- Recochem Inc.
- Royal Dutch Shell Plc
- SK Global Chemical Co. Ltd.
- Safra Co.Ltd
- Solvchem Inc.
- W.M. Barr
For more information about this report visit https://www.researchandmarkets.com/r/dakpmq