Market Trends of Aliphatic Hydrocarbon Solvents and Thinners Industry
This section covers the major market trends shaping the Aliphatic Hydrocarbon Solvents & Thinners Market according to our research experts:
Growing Application in Paints & Coatings
- Aliphatic solvents are in the category of aliphatic compounds. Aliphatic solvents do not contain a benzene ring. They are mixtures of saturated, long straight chain (normal-paraffin), branched chain (iso-paraffin) or cyclic paraffins. These solvents are produced by the distillation of crude oil by the appropriate boiling point range fraction, and then are treated to improve their color and odor.
- The increasing buildings & construction sector is attributing to the growing application ofaliphatic solvents as thinners and diluents in paints and coatings thereby increasing its market.
- In addition to the construction adhesives, paints and coatings optimized for the construction industry, processors also use these solvents as cleaning and degreasing agents
- It is estimated that in United Kingdom around 27,000 - 50,000 new homes are built year-over-year from 2018 which in turn increases scope for this market
- Growing demand for paints and coatings from automotive sector and other industries are in turn increasing the application ofaliphatic hydrocarbon solvents and thinners
- Hence, growing application of paints & coatings in buildings & construction sector in countries like China, United Kingdom, United States, India, Japan are playing a major role in this market.
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Asia-Pacific Region to Dominate the Market
- Asia-Pacific region is expected to dominate the market foraliphatic hydrocarbon solvents and thinnersduring the forecast period. Due to the high demand application from countries like China, India and Japan the market foraliphatic hydrocarbon solvents and thinnershas been increasing.
- The largest producers of aliphatic hydrocarbon solvents and thinners are located in Asia-Pacific region. Some of the leading companies in the production of aliphatic hydrocarbon solvents and thinner are Royal Dutch Shell, Recochem Inc, Phillips 66, mg organics pvt. ltd
- In 2018, the Indian government has announced an investment worth USD 31,650 billion for the construction of 100 cities, under the smart cities plan. 100 smart cities and 500 cities are likely to invite investments worth INR 2 trillion (~USD 28.18 billion), over the coming five years creating scope for the application ofaliphatic hydrocarbon solvents and thinnersin paints andcoatings.
- The Chinese government has rolled out massive construction plans, including making provisions for the movement of 250 million people to its new megacities, over the next ten years creating a major scope for construction activity thereby increasing the market foraliphatic hydrocarbon solvents and thinnersover the coming years.
- Apart from paints & coatings these aliphatic hydrocarbon solvents and thinners are also used in adhesives & sealants, in rubber manufacturing and others which have multiple application in various end-user industries like automotive and others
- In automotive industry apart from paints and coatings thesealiphatic hydrocarbon solventsand thinners are used as cleansers and degreasing agents
- The aforementioned factors coupled with government support are contributing to the increasing demand for aliphatic hydrocarbon solvents and thinners market during the forecast period (2020-2025).
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