The global aliphatic solvent market is expected to register a CAGR of 7.5% by garnering a market value of USD 7.5 billion by 2033. As of 2023, a valuation of USD 3.63 billion has been expected for the market.
The market’s growth can be attributed to:
| Data Points | Key Statistics |
|---|---|
| Expected Market Value in 2023 | USD 3.64 billion |
| Projected Market Value in 2033 | USD 7.5 billion |
| Growth Rate (2023 to 2033) | CAGR of 7.5% |
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Aliphatic solvents are widely used in the pharmaceutical industry as a medium for various chemical reactions and as a solvent for various active pharmaceutical ingredients.
Aliphatic solvents are widely used in the production of adhesives and sealants, and the increasing demand for high-quality adhesives and sealants is expected to drive the growth of the Aliphatic Solvent market. In addition, they are considered to be environmentally friendly as they have low toxicity levels, low volatility, and low ozone depletion potential compared to other solvents.
Aliphatic solvents are less flammable compared to other solvents, making them safer to handle and transport. Aliphatic solvents can provide improved performance compared to other solvents, such as improved solvency, better compatibility with a wide range of materials, and improved stability. Furthermore, aliphatic solvents are cost-effective compared to other solvents, as they are readily available and can be easily manufactured.
The North America aliphatic solvents market is a growing market, driven by increasing demand from various end-use industries such as paints and coatings, cleaning and degreasing, printing inks, pharmaceuticals, and adhesives and sealants. The region is home to a large number of leading players in these industries, which are expected to drive the growth of the aliphatic solvents market in the region.
The growing demand for environmentally friendly solvents in North America is expected to drive the growth of the aliphatic solvents market in the region. Additionally, the increasing demand for high-quality paints and coatings, printing inks, and adhesives and sealants, along with the growing construction and infrastructure industry, is expected to further drive the demand for aliphatic solvents in the region.
The USA is the largest market for aliphatic solvents in North America, followed by Canada and Mexico. The growth of various end-use industries, such as automotive, aerospace, and construction, is expected to drive the demand for aliphatic solvents in these countries.
Overall, the North America aliphatic solvents market is expected to grow at a steady pace in the coming years, driven by increasing demand from various end-use industries and the growing demand for environmentally friendly solvents.
Principal Consultant
The future of the aliphatic solvent market looks promising, driven by increasing demand from various end-use industries such as paints and coatings, cleaning and degreasing, printing inks, pharmaceuticals, and adhesives and sealants.
The increasing demand for aliphatic solvents in emerging markets, such as Asia-Pacific and the Middle East, is expected to provide new growth opportunities for the aliphatic solvents market. The development of new applications for aliphatic solvents, such as in the cosmetics and personal care industry, is expected to further drive the growth of the market.
The increasing focus on sustainability and the growing demand for environmentally friendly solvents are expected to drive the development of new and innovative aliphatic solvents in the coming years. The development of bio-based aliphatic solvents is expected to provide new growth opportunities for the aliphatic solvents market.
The increasing requirement for varnishes and films from the decor industry and automotive is kindling the increase of the business across the globe. Strengthening requirements for suburban and industrial constructions from developing marketplaces serve as a key macro-economic factor for growth of the aliphatic solvents market around the world during the forecast period.
Aliphatic solvents and thinners are diluted in paints for simple combination and lessening thickness. These helps in ease in paint application after blending it in with the products will support the business and industry growth.
Subsequent growth in the automobile industry, subsequent growth in population, rise in disposable income and rising urbanization in non-industrial nations is speeding up the demand.
Demand in different segment including building & construction, and automotive will propel the market growth of these solvents which plays major roles in this sector. Expanding interest for rubber in different enterprises will essentially drive aliphatic hydrocarbon solvents and thinners market.
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Aliphatic Solvents are also known as non-aromatic solvents. They are one of the most commonly used solvents worldwide and found in many of the everyday products.
They are used as solvents or diluents in paints and thinners, they are widely used in oil extraction, degreasing, rubber manufacturing and as carriers for aerosols and disinfectants.
Gasoline and kerosene are examples of aliphatic hydrocarbon solvents. Common aliphatic hydrocarbon solvents used in paints and coatings are mineral spirits, hexanes and heptane. These compounds are also used as corrosion inhibitors.
The growth of this segment can be attributed to the increasing demand for decorative, automotive, industrial, and protective paints & coatings in both, developed and emerging countries.
This growing demand for paints & coatings for the increasing number of residential and commercial buildings due to rising population and urbanization majorly in China and India is expected to drive the global market during the forecast period.
Asia-Pacific region is expected to dominate the market for aliphatic hydrocarbon solvents and thinners during the forecast period. Due to the high demand application from countries like China, India and Japan, the market for aliphatic hydrocarbon solvents and thinners has been increasing. The largest producers of aliphatic hydrocarbon solvents and thinners are located in Asia-Pacific region.
Some of the leading companies in the production of aliphatic hydrocarbon solvents and thinner are Royal Dutch Shell, Recochem Inc., Phillips 66, MG Organics Pvt. Ltd. Apart from paints & coatings, these aliphatic hydrocarbon solvents and thinners are also used in adhesives & sealants, in rubber manufacturing and others which have multiple application in various end-user industries like automotive and others.
The demand for conventional hydrocarbon solvents is changing particularly in Europe and North America, where various environmental regulations and acts are stringent thereby allowing bio-green based hydrocarbon solvents to be implemented.
Aliphatic Solvents has a major dominance in the market and is expected to steadily rise while Aromatic is expected to decline gradually. Paintings and Coatings form the largest application market of Hydrocarbon Solvents followed by pharmaceuticals, adhesives and printing inks respectively.
Major players in the aliphatic solvents market are -
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain.
The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. Type 6.2. Application 7. Global Market Analysis and Forecast, By Type 7.1. Varnishes 7.2. Hexane 7.3. Heptane 7.4. Mineral Spirit 7.5. Others 8. Global Market Analysis and Forecast, By Application 8.1. Paints & Coatings 8.2. Adhesives 8.3. Rubbers & Polymers 8.4. Aerosol 8.5. Cleaning & Degreasing 9. Global Market Analysis and Forecast, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. Asia-Pacific 9.6. Japan 9.7. The Middle East and Africa 10. North America Sales Analysis and Forecast, by Key Segments and Countries 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries 12. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 13. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 14. Asia-Pacific Sales Analysis and Forecast, by Key Segments and Countries 15. Japan Sales Analysis and Forecast, by Key Segments and Countries 16. The Middle East and Africa Sales Analysis and Forecast, by Key Segments and Countries 17. Sales Forecast by Type and Application for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. ExxonMobil Chemical, Inc. 19.2. SK Global Chemical Co., Ltd. 19.3. Royal Dutch Shell Plc. 19.4. Calumet Specialty Products Partners, L.P. 19.5. Gotham Industries 19.6. Gulf Chemicals and Industrial Oils Co. 19.7. Recochem Inc. 19.8. HCS Group 19.9. W.M. Barr 19.10. Ganga Rasayanie Ltd 19.11. NOCO Energy Corporation 19.12. Gadiv Petrochemical Industries Ltd. 19.13. Hunt Refining Company 19.14. Honeywell International Inc. 19.15. BASF SE, and LyondellBasell Industries Holdings B.V.
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Aliphatic Solvent Market
