Global Aliphatic Hydrocarbon Solvents and Thinners Market - 2019-2026
The Global Aliphatic Hydrocarbon Solvents and Thinners Market is expected to grow at a CAGR of XX% to reach a market value of USD XX million by 2026.
Solvents are defined as chemicals compound that are introduced during manufacture of the paint itself and before packaging, in order to maintain all components of the paint in a liquid / viscous state such as we know it. A solvent is usually a liquid but can also be a solid or a gas. Solvents find various applications in chemical, pharmaceutical, oil, and gas industries, including in chemical syntheses and purification processes.
Thinners are defined as chemical compounds that are introduced into the paint prior to application, in order to modify the viscosity and other properties related to the rate of curing that may affect the functionality and aesthetics of the final layer painting. Paint thinner, a solvent used in painting and decorating, for thinning oil-based paint and cleaning brushes. A Thinner may be a single solvent or a combination of solvent types. Often, specific thinners are required by the manufacturer of a coating to prevent damage to coating properties that may occur when an inappropriate thinner is used. Solvents (for cleaning up or softening) and Thinners (for diluting or extending) are useful not only in painting but in other areas such as Wooden Furniture industry, Automobile industry, Ink industry, Rubber industry.
The global Aliphatic Hydrocarbon Solvents and Thinners Market is primarily driven by heavy investments in the infrastructure in the developing nations like China, Brazil and India due to increase in urbanization, industrialization, rising population and the increase in disposal income of the middle-class people. Moreover, rising demands for automotive has also boosted the market for Aliphatic Hydrocarbon Solvents and Thinners.
However, the strict environmental regulations in various countries pertaining to presence of VOC (volatile organic compounds) in these solvent and thinners, which is harmful to environment will hamper the growth of Aliphatic Hydrocarbon Solvents and Thinners.
By Type, the global Aliphatic Hydrocarbon Solvents and Thinners Market is segmented into Varnish Makers and Paints Naphtha, Mineral Spirits, Hexane, Heptane, and Others. The mineral spirits accounts segment is estimated to be the fastest-growing segment in this market, due to the effective solvent properties & cleaning capabilities. Varnish makers & paints accounts for the largest share in the global aliphatic hydrocarbon solvents and thinners market but considering the cost and economic factors the mineral spirits continues to grow at tremendous pace during the forecast period. It is expected that Varnish makers and paints pigment will grow at a CAGR of ~XX% during the forecast period.
By application, the global Aliphatic Hydrocarbon Solvents and Thinners Market is segmented into Paints & Coatings, Pharmaceuticals, Adhesives, Printing Inks, and Others. Paints & Coating have higher dominance in the application of Aliphatic Hydrocarbon Solvents and Thinners due to high growth of automobile industry and the rising demand for the Aliphatic Hydrocarbon Solvents and Thinners.
By geography, the global Aliphatic Hydrocarbon Solvents and Thinners Market is segmented into North America, Asia-Pacific (APAC), Europe, South America, and Middle East and Africa (MEA).
APAC holds the largest market share for Aliphatic Hydrocarbon Solvents and Thinners Market due to economy rise and rising activity in infrastructure and industrial development in the developing nation like China and India has high demands for Aliphatic Hydrocarbon Solvents and Thinners and has made APAC to hold most of the market share.
FDI inflows to developing Asia remained stable at $476 billion in 2017, thanks to the high-tech sector in China, a rebound in Indonesia, and increases in most ASEAN countries. This was enough to offset declines in other large recipient economies in the region, including Hong Kong (China), Singapore, India and Saudi Arabia. Against the backdrop of a significant decline in worldwide FDI, the region's share in global inflows rose from 25 per cent in 2016 to 33 per cent in 2017. A number of large transactions took place in Hong Kong (China), India and Singapore. The five largest recipients - China, Hong Kong (China), Singapore, India and Indonesia - absorbed four-fifths of FDI inflows to the region.
However, Europe is after APAC in terms of market share of Aliphatic Hydrocarbon Solvents and Thinners Market, due to large investment for the infrastructure development and also due to increase in the urban population, increasing the demand in residential construction will create large demand for Aliphatic Hydrocarbon Solvents and Thinners.
Statistics published by the National Records for Scotland, for example, reveal the influence of these changing demographics, with future household demand rising faster than population growth. By 2037, Scotland's population growth is forecast to be 9 per cent, with growth in the number of households forecast to be 17 per cent. This 8 per cent difference is in effect the household growth demand from the existing population.
In England, between now and 2041, the population is expected to increase by 16 per cent, with projected household growth at 23 per cent, resulting in a 7 per cent difference in demand.
Key players are adopting strategies such as Acquisition, new product launches, and investment in R&D to stand out as strong competitors in the market. The major players include Exxon Mobil, SK global chemical, Shell, Calumet Specialty Products Partners. Other key players in the market include Gotham Industries, Aned, Gadiv Petrochemical Industries, Ganga Rasayanie, Gulf Chemicals and Industrial Oils Company, Haltermann Carless, Kandla Energy & Chemicals, and MK Aromatics.