According to estimates, the market for de-aromatic solvents will be worth US$ 2.2 billion in 2023 and will increase to US$ 4.0 billion by the end of 2033 at a CAGR of 6.2%. De-aromatic solvents can go by the titles ultra-low aromatic solvents and de-aromatized hydrocarbon solvents. These are a subclass of hydrocarbon solvents having a very low (less than 1%) aromatic content and a high concentration of naphthenic, paraffinic, and iso-paraffinic components.
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The report’s framework includes the methodical gathering and analysis of data from social and opinion research about specific people or organisations. The paper includes a number of definitions, industry segmentations or categories, industry applications, and value chain topologies. The market report carefully investigates and analyses a range of industries related to the Chemical & Materials sector. The FactMR team carefully considers all market-related elements when producing a De-aromatic Solvents Market research document for a client.
Consumers are also made aware of how the product is utilized in the current market environment by the market drivers and restraints examined in this market study, which also provide predictions about how the practice will develop in the future. The De-aromatic Solvents market survey report offers descriptions of market definitions, classifications, applications, interactions, and market trends as a window into the market.
Market Players: –
- Exxon Mobil Corporation
- Shell plc
- Idemitsu Kosan Co., Ltd.
- Raj Petro Specialities Pvt. Ltd.
- DHC Solvent Chemie GmbH
- Avani Petrochem Pvt. Ltd.
- Calumet Specialty Products Partners, L.P.
Segmentation of De-aromatic Solvent Industry Research
- By Flash Point :
- Low Flash Point Solvent
- Medium Flash Point Solvent
- High Flash Point Solvent
- By Boiling Point :
- Type 1 (150-200°C)
- Type 2 (200-240°C)
- Type 3 (> 240°C)
- By Application :
- Paint & Coatings Formulation
- Printing Inks Formulation
- Varnishes Formulation
- Wood Preservatives Formulation
- adhesives and sealants Formulation
- Cleaning Solvents Formulation
- Drilling Fluids
By 2033, it is anticipated that the US de-aromatic solvent market would grow at a GAGR of 5.5%.
One of the biggest crude oil systems in the world is found in the United States. The country has the highest daily oil production and a sizeable reservoir share of 14.0% of global reserves (18.6 million barrels per day). This in turn satisfied the market for de-aromatic solvents’ need for raw materials.
De-aromatic solvents are also odourless, and as a result of this quality, they are widely utilized in the manufacture of adhesives and sealants. The growing demand for adhesives and sealants in the United States is expected to lead to a significant market increase for de-aromatic solvents. Around US$ 13.0 billion worth of adhesives and sealants were consumed in the US in 2016.
This increase in demand may be ascribed to rising building activity. This factor is anticipated to drive the market of de-aromatic solvents.
Growing Use of De-aromatic Solvent in Paint & Coatings Sector”
De-aromatic solvents are widely used in paint formulations. De-aromatic solvents have various properties such as fast drying time, low VOC content, and low odor. All of these characteristics make de-aromatic solvent a preferred choice for paint and coatings formulations. The market is anticipated to increase as a result of rising demand for paints & coatings from both the residential and commercial sectors.
The growing paint and coating industry is anticipated to project high growth opportunities. For instance, the global paints and coatings market reached a valuation of US$ 184.0 billion in 2021, which is around 20.0% larger than the market value of 2019.
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Regional analysis includes
- North America (U.S., Canada)
- Latin America (Brazil, Mexico, Argentina, Chile, Peru, Rest of LATAM)
- EU – (Germany, France, Italy, Spain), UK, BENELUX (Belgium, Netherlands, Luxemburg), NORDIC (Norway, Denmark, Iceland, Sweden), Eastern Europe (Poland, Ukraine, Czech Rep. etc.), Rest of Europe
- CIS & Russia
- Asia Pacific Excluding Japan (Greater China, India, S. Korea, ASEAN Countries, Rest of APEJ)
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