Aliphatic Hydrocarbon Solvents & Thinners Market Size, Industry Analysis Report, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2020 - 2026
Report ID: GMI2049
Aliphatic Hydrocarbon Solvents & Thinners Market size will witness significant growth owing to its wide usage in paints and coatings industry. Wide usage of paints, coatings in general industries, marine, coil, wood, aerospace and rail have raised its demand and simultaneously boosted aliphatic hydrocarbon solvents & thinners market. Components are diluted in paints for easy mixture and reducing thickness. In addition, ease in paint application after mixing it with the product will boost the industry growth.
Growing oil & gas industry will drive aliphatic hydrocarbon solvents & thinners market. They are usually added in mineral spirits, petroleum naphtha, octane and petroleum distillates to enhance its performance
Expansion in automotive industry, growing population, increasing disposable income and rising urbanization in developing countries is accelerating industrial rubber demand. Component plays vital role in rubber manufacturing, they are applied in production of tires to glue different pieces and layers of rubber for durability. Increasing demand for rubber in various industry will significantly propel aliphatic hydrocarbon solvents & thinners market.
These are blends of either saturated, long straight chain, cycle paraffin’s or branched chain. They are produced by distillation of crude oil at appropriate boiling point and then they are treated to improve colors and odor. For instance, gasoline and kerosene are the major product types.
The product is extensively used as carriers for aerosols and disinfectants. Aerosol is a substance enclosed under pressure and released as a fin spray of a propellant gas. Container holding aerosol should be strong enough to carry it. Mishandling of aerosol can lead to severe consequences that can lead to harmful effects on human and its surroundings.
However, adverse effects on the human health may restrain aliphatic hydrocarbon solvents & thinners market. Their short-term exposure causes dizziness, headache, irritation to skin, eyes and unconsciousness. Its long-term exposure causes muscular weakness, distorted vision, damages to lungs & skin, numbness, fatigue and neurological disorder. Further, strict government regulations on these products may restrain the industry growth.
Aliphatic hydrocarbon solvents & thinners are available in two types, including n-hexane and n-heptane. The product is used in various applications that include, paints & coatings, cleaning, degreasing, aerosols & disinfects carrier and rubber & oil extraction.
Asia Pacific led by India, Thailand and Indonesia for Aliphatic hydrocarbon solvents & thinners market are the largest rubber producers of the world, accounting for over 7.5%, 25% and 26% respectively. The product is extensively used to stick layers and pieces of tyres in rubber industry. Increase in automotive sales and growing population is accelerating rubber demand that is simultaneously boosting aliphatic hydrocarbon solvents & thinners market.
North America aliphatic hydrocarbon solvents & thinners market will witness substantial growth due to increasing paint coating industry. The component is used as an additive in the powder coating for resistance and stability. Its chemical properties of thinning paints and coats has boosted its demand in the industry.
Saudi Arabia is largest producer of oil in the world, with production over 10, 00,000 bbl. of oil annually. The product is widely used in oil extraction and is a major element in gasoline. They are regularly added in mineral spirits, petroleum naphtha, octane and petroleum distillates. Country’s economy is mainly driven by oil exports and production that further provides a lucrative opportunity for industry growth.
Prominent players for aliphatic hydrocarbon solvents & thinners market are Mitsubishi Shoji Chemical Corporation, Royal Dutch Shell, Calumet specialty Products Partners, SK Global Chemical Co. Ltd., ExxonMobil Chemical, Hi Tech Chemicals, Kandla Energy & Chemicals Limited, Umwelt Chemicals and Merck.
Companies are adopting various strategies to capture aliphatic hydrocarbon solvents & thinners market emerging market. Some of the strategies include merger, acquisition, expansion and new product launch. For instance, ExxonMobil acquires Jurong petrochemical plant in 2017. Acquisition will enable cost competitive growth to the company. It will also provide proximity to company’s refining and petrochemical complex to strengthen both sites with product and logistical synergies. Company will continue to make strategic investments to ensure its position to meet increasing global demand for chemical products.
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