Aliphatic Hydrocarbon Solvents & Thinners Market Size, Share and Industry Analysis Report, Regional Outlook, Application Development Potential, Competitive Market Share & Forecast, 2023 – 2032

Aliphatic Hydrocarbon Solvents & Thinners Market size is anticipated to showcase stellar growth between 2023 and 2032 due to the increasing vehicular sales worldwide and the rapid advancements across the automotive sector.
 

The rising number of construction activities along with the thriving real estate activities, specifically in the Middle East has led to the increasing consumption of solvents or diluents in thinners and paints. The increasing rate of industrialization across the globe has also influenced the adoption of corrosion inhibitors and industrial rubber.
 

Aliphatic hydrocarbon solvents and thinners are largely employed as carriers for disinfectants and aerosols, and are hence used in degreasing, oil extraction, and rubber manufacturing.
 

They also act as hexanes, mineral spirits, and heptanes in paints and coatings, and record widespread applications across the oil & gas sector.  The growing adoption of mineral spirits and the consequent need to replace turpentine will further drive the product demand.
 

The Ukraine-Russia war hampered aliphatic hydrocarbon solvents & thinners market dynamics to a considerable extent as it significantly impacted various businesses across the globe, including construction, oil & gas, and manufacturing among various others. It significantly increased the costs to operate for the construction companies, while making way for spiked material costs and record fuel prices, hindering the market growth prospects.
 

On the basis of type, the industry is segmented into hexane, mineral spirits, heptane, varnish makers & painters naphtha, and others. Out of these, the demand for varnish makers & painters naphtha will pick substantial pace through 2032 ascribing to the burgeoning need to fuel camping cookstoves and lamps. Varnishes are increasingly utilized in the protective coatings industry owing to the rising application scope in decorative objects, such as wooden surfaces, and paintings. This is mainly due to their ability to enhance the appearance of interior wood paneling, wooden floors, and furniture. The rising need to eliminate greasy residues and the growing limitations of mineral spirits are other factors adding to the industry growth.
 

The aliphatic hydrocarbon solvents & thinners market share from paints & coatings applications will foresee huge traction up to 2032 owing to increasing demand from the automotive sector. The rapid strides across buildings & construction and the growing popularity of high-rise buildings has stirred the higher adoption of various materials that help in enhancing performance, color, and odor. The Government Construction Strategy suggested that the construction output across the U.K. exceeds £110 billion per annum, accounting for 7% of GDP. Hence the growing need for paints and coatings in buildings will outline the aliphatic hydrocarbon solvents & thinners market growth.
 

Asia Pacific aliphatic hydrocarbon solvents & thinners market will record notable gains in the forecasted timeline. The growth can be attributed to the thriving investments in the real estate sector. According to the IBEF (India Brand Equity Foundation), the real estate segment witnessed private equity investments worth US$ 3,241 million in Q4 FY21. With the increasing number of commercial and residential buildings, the regulatory and government support has significantly soared in the region. The surging household incomes, increasing product application in the rubber industry, and the rapid rate of industrialization will also add positive impetus to the market prospects in the looming years.
 

Aliphatic hydrocarbon solvents & thinners market key players includes ExxonMobil Chemical (ExxonMobil), SK Global Chemical Co. Ltd. (SK Innovation Co.), Kandla Energy & Chemicals Limited (Unit of Arham Petrochem Private Limited), Merck, Royal Dutch Shell, Mitsubishi Shoji Chemical Corporation, Umwelt Chemicals, Hi Tech Chemicals. These companies are placing targeted efforts on various inorganic marketing as well as growth measures, including mergers, capacity expansions and acquisitions for reinforced market presence and enhanced customer base.
 

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