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Aliphatic Hydrocarbon Solvents & Thinners Market Size, Share and Industry Analysis Report, Regional Outlook, Application Development Potential, Competitive Market Share & Forecast, 2022 – 2028

  • Report ID: GMI2049

Aliphatic hydrocarbon solvents and thinners market is expected to trace an exponential growth curve from 2021 to 2027 on account of the rising industrialization and the booming automotive sector. The increasing requirement to replace turpentine in various applications has led to the optimum adoption of mineral spirits. Higher utility across the oil & gas sector along with the accelerating demand for industrial rubber will contribute to a significant boom for the market expansion.

The expansion in the number of buildings and the substantial rise in real estate activities, mainly across the Middle East are other key prospects driving the demand spurt for aliphatic hydrocarbon solvents & thinners.

Based on type, the industry for aliphatic hydrocarbon solvents and thinners is segmented into varnish makers & painters naphtha, hexane, mineral spirits, heptane, and others. Among these, the market size from varnish makers & painters (VM&P) naphtha is expected to grow at a robust momentum through 2027 due to increasing presence across the paints sector. The product is increasingly preferred over mineral spirits as it is less oily and helps in faster drying of paints and eliminates the chances of runs. Moreover, the rising usage of VM&P naphtha for cleaning up the greasy residue and in the fueling of camping cookstoves and lamps will add to the segmental growth.

With regards to application, the paints & coatings sector is anticipated to collect significant gains for the aliphatic hydrocarbon solvents and thinners industry. This is mainly ascribing to the increasing advancements across the buildings & construction sector. According to the Government Construction Strategy, the construction output in the U.K. accounts for over £110 billion per annum while bestowing 7% of GDP. The higher need for enhancing color, performance, and odor as well as increasing utility across the automotive vertical will positively influence the aliphatic hydrocarbon solvents & thinners market share.

In terms of regional segmentation, Asia Pacific will capture a considerable share in the aliphatic hydrocarbon solvents and thinners industry with higher penetration across the rubber applications. The increasing government support along with the surge in the number of commercial and residential buildings are other promising drivers for the industry growth in APAC.

ExxonMobil Chemical (ExxonMobil), Merck, Kandla Energy & Chemicals Limited (Unit of Arham Petrochem Private Limited), Mitsubishi Shoji Chemical Corporation, Royal Dutch Shell, Umwelt Chemicals, Hi Tech Chemicals, and SK Global Chemical Co. Ltd. (SK Innovation Co.) are some of the leading providers of aliphatic hydrocarbon solvents and thinners.

These global aliphatic hydrocarbon solvents & thinners industry participants are striving towards inorganic marketing and growth measures, such as mergers, acquisitions, and capacity expansions to reinforce their market position and for increased brand recognition.

COVID-19 crisis and its effects on the aliphatic hydrocarbon solvents and thinners industry forecast

The ongoing COVID-19 pandemic set major unprecedented blows on multiple business verticals across the world and gave rise to massive global economic turbulence. It also drew significant damages to the demand and production of aliphatic hydrocarbon solvents and thinners. This can be accounted for the hampered industrial operations across the construction, paints, and automotive sector given the limitations of labor and raw materials.

However, driven by the gradual recovery of these business avenues and the resumption of their activities considering the relaxation of the trade barriers, the industry for aliphatic hydrocarbon solvents and thinners will pick up considerable steam in the post-pandemic era.

What Information does this report contain?

Historical data coverage: 2017 to 2021; Growth Projections: 2022 to 2028.
Expert analysis: industry, governing, innovation and technological trends; factors impacting development; drawbacks, SWOT.
6-7 year performance forecasts: major segments covering applications, top products and geographies.
Competitive landscape reporting: market leaders and important players, competencies and capacities of these companies in terms of production as well as sustainability and prospects.

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