Aliphatic Hydrocarbon Solvents & Thinners: World Market to be Valued at $5.2 Billion by 2024

/EIN News/ -- Dublin, Sept. 17, 2019 (GLOBE NEWSWIRE) -- The "Aliphatic Hydrocarbon Solvents & Thinners Market by Type (Varnish Makers & Painters Naphtha, Mineral Spirit, Hexane, Hepteane), Application (Paints & Coatings, Cleaning & Degreasing, Adhesives, Aerosols, Rubber & Polymer) - Global Forecast to 2024" report has been added to ResearchAndMarkets.com's offering.

The global aliphatic solvents & thinners market was valued at USD 4.6 billion in 2018 and is projected to reach USD 5.2 billion by 2024, at a CAGR of 2.7% from 2019 to 2024.

The report defines, segments, and projects the size of the aliphatic hydrocarbon solvents & thinners market based on type, application, and region. It strategically profiles the key players and comprehensively analyzes their market share and core competencies. It also tracks and analyzes competitive developments, such as acquisitions, expansions, partnerships, and new product launches adopted by them in the market.

Key players such as Royal Dutch Shell PLC (Netherlands), Exxon Mobil Chemical (US), and SK GlobalChemical Co. Ltd (South Korea), among others, have adopted various growth strategies, including acquisitions and expansions, to strengthen their market position.

Market Dynamics

The increasing demand for aliphatic hydrocarbon solvents & thinners in applications, such as paints & coatings, cleaning & degreasing, and others drives the global aliphatic hydrocarbon solvents & thinners market. Stringent environmental regulations regarding the usage of aliphatic hydrocarbon solvents & thinners in varnishes and vehicle refinishing products are expected to restrain the growth of this market. These rules and regulations restrict the usage of some aliphatic hydrocarbon solvents & thinners, as they contain Volatile Organic Compounds (VOCs) which are hazardous for health and environment.

The paints & coatings segment is projected to lead the aliphatic hydrocarbon solvents & thinners market in terms of both, value and volume during the forecast period

Based on application, the paints & coatings segment led the aliphatic hydrocarbon solvents & thinners market in 2018 in terms of both, value and volume. 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. There is an increased demand for paints & coatings in the architectural paints & coatings segment, which is projected to lead the market during the forecast period. This growing demand for paints & coatings for the increasing number of residential and commercial buildings due to the rising population and urbanization majorly in China and India is expected to drive the global market during the forecast period.

The varnish makers' & painters' naphtha type segment is projected to lead the aliphatic hydrocarbon solvents & thinners market in terms of both, value and volume from 2019 to 2024

Based on type, the varnish makers' & painters' naphtha segment accounted for the largest share of the aliphatic hydrocarbon solvents & thinners market in 2018. The varnish makers' & painters' naphtha segment is projected to lead the market in terms of both, value and volume during the forecast period. Varnish makers' & painters' naphtha is obtained by the distillation of hydrocarbons. A major source of naphtha is crude oil, which is processed in refineries to break down the chains of hydrocarbons. Varnish makers' & painters' naphtha is majorly used in hydrocarbon cracking, laundry soaps, organic chemistry, cleaning fluids, and various other applications.

Asia Pacific is projected to lead the aliphatic hydrocarbon solvents & thinners market during the forecast period, in terms of both, value and volume

The Asia Pacific region is projected to lead the aliphatic hydrocarbon solvents & thinners market from 2019 to 2024, in terms of both, value and volume. This region is witnessing increasing car ownership due to the rising disposable income of the middle-class population and the increasing number of residential and commercial buildings. The market in this region is also projected to grow at the highest CAGR from 2019 to 2024, in terms of value, owing to the increased demand for aliphatic hydrocarbon solvents & thinners from countries, such as China, India, Japan, and South Korea.

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights
4.1 Attractive Opportunities in the Aliphatic Solvents & Thinners Market
4.2 Aliphatic Solvents & Thinners Market, By Type
4.3 Aliphatic Solvents & Thinners Market, By Application
4.4 Asia Pacific Aliphatic Solvents & Thinners Market
4.5 Aliphatic Solvents & Thinners Market Growth

5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 Replacement of Turpentine With Mineral Spirits
5.2.1.2 Growth in the Paints & Coatings Industry
5.2.1.3 High Demand From the Asia Pacific Region
5.2.2 Restraints
5.2.2.1 Manufacturers Switching to Green Solvents
5.2.3 Opportunities
5.2.3.1 Growth Opportunities From Emerging Economies in the Middle East
5.2.4 Challenges
5.2.4.1 Environmental Regulations

6 Industry Trends
6.1 Introduction
6.2 Supply Chain Analysis
6.3 Porter's Five Forces Analysis
6.3.1 Threat 0f New Entrants
6.3.2 Threat of Substitutes
6.3.3 Bargaining Power of Buyers
6.3.4 Bargaining Power of Suppliers
6.3.5 Intensity of Competitive Rivalry

7 Aliphatic Solvents & Thinners Market, By Type
7.1 Introduction
7.2 Market Size and Projection
7.2.1 Varnish Makers' & Painters' Naphtha to Lead the Aliphatic Solvents & Thinners Market, By Type
7.3 Varnish Makers' & Painters' Naphtha
7.3.1 The Varnish Makers & Paints Naphtha Segment is Estimated to Account for the Largest Share of the Aliphatic Solvents & Thinners Market
7.4 Mineral Spirits
7.4.1 Mineral Spirits Type Segment Accounted for the Second Largest Share in the Process Oil Market
7.5 Hexane
7.5.1 Growing Demand From Paints & Coatings Industry is Expected to Fuel the Growth of Hexane Segment Market
7.6 Heptane
7.6.1 Asia Pacific to Lead the Heptane Segment Market During the Forecast Period
7.7 Others

8 Aliphatic Solvents & Thinners Market, By Application
8.1 Introduction
8.2 Market Size and Projection
8.2.1 Paints & Coatings Application to Lead the Aliphatic Solvents & Thinners Market, By Application
8.3 Paints & Coatings
8.3.1 Paints & Coatings is the Largest and the Fastest Growing Application Segment
8.4 Cleaning & Degreasing
8.4.1 Cleaning & Degreasing Application Segment Accounted for the Second Largest Share in the Aliphatic Solvents & Thinners Market
8.5 Adhesives
8.5.1 South America is the Fastest Growing Region in Adhesives Application Segment During the Forecast Period
8.6 Aerosols
8.6.1 Asia Pacific to Lead the Aerosols Application Segment During the Forecast Period
8.7 Rubbers & Polymers
8.7.1 Asia Pacific is Estimated to Be the Largest Market in Rubber & Polymer Application Segment in 2019
8.8 Printing Inks
8.8.1 Europe Region to Exhibit Negative Growth in Printing Inks Segment During the Forecast System
8.9 Others

9 Aliphatic Solvents & Thinners Market, By Region
9.1 Introduction
9.2 Asia Pacific
9.2.1 China
9.2.1.1 China is Projected to Be the Largest Market During the Forecast Period in Asia Pacific Aliphatic Solvents & Thinners Market
9.2.2 India
9.2.2.1 India is Projected to Grow at the Highest Cagr During the Forecast Period in Asia Pacific Aliphatic Solvents & Thinners Market
9.2.3 South Korea
9.2.3.1 Increasing Demand From the Paints & Coatings Industry has Fuelled the Growth of the Aliphatic Solvents & Thinners Market in South Korea
9.2.4 Japan.
9.2.4.1 Paints & Coatings is Estimated to Be Largest Application in Japan in 2019
9.2.5 Thailand
9.2.5.1 Increasing Demand From the Paints & Coatings Industry is Driving the Aliphatic Solvents & Thinners Market in Thailand
9.2.6 Indonesia
9.2.6.1 Adhesives Application Segment is Estimated to Emerge as A Key Market in Indonesia
9.2.7 Rest of Asia Pacific
9.3 Europe
9.3.1 UK
9.3.1.1 UK is Projected to Be the Largest Market During the Forecast Period in Europe Aliphatic Solvents & Thinners Market
9.3.2 France
9.3.2.1 Printing Inks Application Segment to Exhibit Negative Growth During the Forecast Period
9.3.3 Germany
9.3.3.1 Paints & Coatings Application to Lead the German Aliphatic Solvents & Thinners Market During the Forecast Period
9.3.4 Italy
9.3.4.1 Paints & Coatings Application is Projected to Be the Fastest Growing Market in Italy Aliphatic Solvents & Thinners Market
9.3.5 Turkey
9.3.5.1 Printing Inks Application Segment to Exhibit Negative Growth During the Forecast Period in Turkey Aliphatic Solvents & Thinners Market
9.3.6 Rest of Europe
9.4 North America
9.4.1 US
9.4.1.1 Us is Projected to Be the Largest Market During the Forecast Period in North America Aliphatic Solvents & Thinners Market
9.4.2 Canada
9.4.2.1 Paints & Coatings Application is Projected to Be the Fastest Growing Market in Canada Aliphatic Solvents & Thinners Market
9.4.3 Mexico
9.4.3.1 Mexico is Projected to Grow at the Highest Cagr During the Forecast Period in North America Aliphatic Solvents & Thinners Market
9.5 Middle East & Africa
9.5.1 Saudi Arabia
9.5.1.1 Saudi Arabia is Projected to Be the Largest Market During the Forecast Period in Middle East & Africa Aliphatic Solvents & Thinners Market
9.5.2 UAE
9.5.2.1 Saudi Arabia is Projected to Be the Second Largest Market During the Forecast Period in Middle East & Africa Aliphatic Solvents & Thinners Market 107
9.5.3 Qatar
9.5.3.1 Paints & Coatings Application Segment is Estimated to Lead the Qatar Aliphatic Solvents & Thinners Market
9.5.4 Kuwait
9.5.4.1 Paints & Coatings Application is Projected to Be the Fastest Growing Market in Kuwait Aliphatic Solvents & Thinners Market
9.5.5 South Africa
9.5.5.1 Paints & Coatings Application Segment is Estimated to Lead the South Africa Aliphatic Solvents & Thinners Market
9.5.6 Rest of Middle East & Africa
9.6 South America
9.6.1 Brazil
9.6.1.1 Brazil is Projected to Be the Largest Market During the Forecast Period in South America Aliphatic Solvents & Thinners Market
9.6.2 Argentina
9.6.2.1 Paints & Coatings Application to Lead the Argentina Aliphatic Solvents & Thinners Market During the Forecast Period
9.6.3 Rest of South America

10 Competitive Landscape
10.1 Overview
10.2 Competitive Landscape Mapping, 2019
10.2.1 Visionary Leaders
10.2.2 Innovators
10.2.3 Dynamic Differentiators
10.2.4 Emerging Companies
10.3 Competitive Benchmarking
10.3.1 Strength of Product Portfolio
10.3.2 Business Strategy Excellence
10.4 Emerging Companies Matrix, 2019
10.4.1 Leaders
10.4.2 Contenders
10.4.3 Pacesetters
10.4.4 Masters
10.5 Market Ranking Analysis
10.6 Competitive Situations & Trends
10.6.1 Acquisitions
10.6.2 New Product Launches
10.6.3 Expansions
10.6.4 Agreements & Contracts

11 Company Profiles
11.1 Exxonmobil Chemical Inc.
11.2 SK Global Chemical Co. Ltd.
11.3 Royal Dutch Shell PLC
11.4 Calumet Specialty Products Partners L.P.
11.5 Gotham Industries
11.6 Gulf Chemicals and Industrial Oils Company
11.7 Recochem Inc.
11.8 HCS Group
11.9 W.M. Barr
11.10 Honeywell International Inc.
11.11 BASF SE
11.12 Lyondellbasell Industries N.V.
11.13 Ganga Rasayanie (P) Ltd.
11.14 Noco Energy Corporation
11.15 Gadiv Petrochemical Industries Ltd.
11.16 Hunt Refining Company
11.17 Other Companies
11.17.1 Pure Chemicals Co.
11.17.2 Heritage Crystal Clean
11.17.3 Solvchem Inc.
11.17.4 Rb Products Inc.
11.17.5 Safra Co. Ltd.
11.17.6 Phillips 66
11.17.7 Kandla Energy & Chemical Limited

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