Special Boiling Point Solvents Market - Growth, Trends, and Forecast (2019 - 2024)

The market is segmented by Solvent Base (Petroleum Ether, Rubber Solvent, and VM & P Naphtha), by Application (Paints, Coatings, & Inks, Adhesives, Rubbers & Tires, Resins, Cleaning Agents, and Others), and Geography

Market Snapshot

Market Summary - Special Boiling Point Solvents Market
Study Period:


Base Year:


Fastest Growing Market:

Asia Pacific

Largest Market:

Asia Pacific

Key Players:

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Market Overview

The global special boiling point solvents market is expected to witness moderate growth, at an estimated CAGR of 3.02% over the forecast period of 2019-2024. One of the major factors driving the market is the growing demand for paints & coatings in various industries. A surging adhesives market and demand from the rubber industry are also expected to drive the market.

  • Environmental concerns, issues regarding health and safety, and the rising popularity of water as a solvent are anticipated to hinder the growth of the market studied.
  • Asia-Pacific accounted for the largest share of around 39% in 2018. The region is also expected to be growing the fastest with a CAGR of 3.91% over the forecast period.

Scope of the Report

The special boiling point solvents market report includes:

Solvent Base
Petroleum Ether
Rubber Solvent
VM & P Naphtha
Paints, Coatings, and Inks
Rubbers & Tires
Cleaning Agents
South Korea
ASEAN Countries
Rest of Asia-Pacific
North America
United States
Rest of North America
United Kingdom
Rest of Europe
South America
Rest of South America
Middle East & Africa (MEA)
Saudi Arabia
South Africa
Rest of Middle East & Africa

Report scope can be customized per your requirements. Click here.

Key Market Trends

Growing Demand for Paints & Coatings

  • Solvent-borne paints, also called oil-based paints, can have various combinations of solvents, as the diluent, including aliphatic, aromatics, alcohols, ketones, and white spirit. These include organic solvents, such as petroleum distillate, esters, and glycol ether.
  • Solvent-borne paints are manufactured by using liquefying agents that evaporate during a chemical reaction with oxygen. The air surrounding a solvent-borne coating helps to speed up the reaction, thereby, reducing the drying time.
  • Solvent-borne coatings are less susceptible to environmental conditions, such as temperature and humidity, during the curing phase, as compared to water-based coatings. This is a major advantage, due to which solvent-based coatings are preferred.
  • Asia-Pacific is one of the fastest-growing markets for paints & coatings, due to the rapid growth in decorative and industrial coatings.
  • Investments in the Chinese transportation sector have increased in the recent past. China’s transport ministry and National Development and Reform Commission (NDRC) invested USD 724 billion between 2016-2018, for constructing 303 key transportation projects, which include railways, highways, waterways, airports, and urban rail. The investment plan is expected to enhance the country’s connectivity between major cities, which helps for wider economic and social development of the region.
  • China accounts for almost 40% of global furniture production. The production is further increasing at a rapid rate, due to the rising domestic demand, coupled with the increasing export to European countries.
  • The number of packaged cans in China is likely to expand by more than 6% in the next few years. Additionally, major beverage-can manufacturers, such as Crown Holdings, are likely to expand the capacity of the beverage can production in the country, to meet the rapidly growing demand. These factors, in turn, are fueling the demand for paints and coatings in the country.
  • The production of automobiles in India reached a total of 29,075,605 with an increase of 14.78% in 2018. The rapid increase of automobiles impacts the growth of consumptions of the coatings market which in turn drives the special boiling point solvents market.
Special Boiling Point Solvents Market - Segmentation

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Asia-Pacific Region to Dominate the Market

  • Asia-Pacific region dominated the global market share in 2018. Special boiling point solvents are used to provide long-lasting protection and brilliant performance in extreme weather conditions to paints and coatings.
  • China currently produces more than half of the Asia-Pacific coatings, and is home to more than 10,000 paint companies, among which local producers occupies more than half of the domestic paint market share.
  • The coatings market is growing at a high rate in China, with increasing downstream demand. The booming construction and automotive industry is likely to propel the market of paints & coatings, which, in turn, is expected to drive the special boiling point solvents, during the forecast period.
  • Due to insufficient environmental protection measurements, many medium and small-sized coatings manufacturers are shutting down their facilities in China, which is likely to hinder the special boiling point solvents market growth.
  • However, the increased investment in the coating industry from giant companies is likely to stimulate the special boiling point solvents market in China.
  • PPG Zhangjiagang, a subsidiary of PPG Industries in China, has announced to expand its production capacity of packaging and industrial coatings and automotive paints to build the largest coating production base. 
  • All the factors mentioned above indicate a growing market in Asia-Pacific region.
Regional - Special Boiling Point Solvents Market

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Competitive Landscape

The special boiling point solvents market is consolidated and is focused on research and innovation. Major players of the market are Royal Dutch Shell PLC, ExxonMobil Chemical, Total SA, CEPSA, DHC Solvent Chemie GmbH, etc.

Major Players

  1. Royal Dutch Shell PLC
  2. ExxonMobil Chemical
  3. Total SA
  4. CEPSA
  5. DHC Solvent Chemie GmbH

* Complete list of players covered available in the table of contents below

Special Boiling Point Solvents Market - Market Concentration

Table of Contents


    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study




    1. 4.1 Drivers

      1. 4.1.1 Growing Global Demand for Paints & Coatings

      2. 4.1.2 Strong Adhesive Market

      3. 4.1.3 Growing Demand from the Rubber Industry

    2. 4.2 Restraints

      1. 4.2.1 Stringent Environmental Regulations on VOCs

      2. 4.2.2 Rising Popularity of Water as a Solvent

    3. 4.3 Industry Value-Chain Analysis

    4. 4.4 Porters 5 Force Analysis

      1. 4.4.1 Bargaining Power of Suppliers

      2. 4.4.2 Bargaining Power of Consumers

      3. 4.4.3 Threat of New Entrants

      4. 4.4.4 Threat of Substitute Products and Services

      5. 4.4.5 Degree of Competition


    1. 5.1 Solvent Base

      1. 5.1.1 Petroleum Ether

      2. 5.1.2 Rubber Solvent

      3. 5.1.3 VM & P Naphtha

    2. 5.2 Application

      1. 5.2.1 Paints, Coatings, and Inks

      2. 5.2.2 Adhesives

      3. 5.2.3 Rubbers & Tires

      4. 5.2.4 Resins

      5. 5.2.5 Cleaning Agents

      6. 5.2.6 Others

    3. 5.3 Geography

      1. 5.3.1 Asia-Pacific

        1. China

        2. India

        3. Japan

        4. South Korea

        5. ASEAN Countries

        6. Rest of Asia-Pacific

      2. 5.3.2 North America

        1. United States

        2. Canada

        3. Mexico

        4. Rest of North America

      3. 5.3.3 Europe

        1. Germany

        2. United Kingdom

        3. France

        4. Italy

        5. Spain

        6. Rest of Europe

      4. 5.3.4 South America

        1. Brazil

        2. Argentina

        3. Rest of South America

      5. 5.3.5 Middle East & Africa (MEA)

        1. Saudi Arabia

        2. South Africa

        3. Rest of Middle East & Africa


    1. 6.1 Mergers & Acquisitions, Joint Ventures, Collaborations, and Agreements

    2. 6.2 Market Share Analysis**

    3. 6.3 Strategies Adopted by Leading Players

    4. 6.4 Company Profiles

      1. 6.4.1 Bajrang Petrochemicals

      2. 6.4.2 Banner Chemical Group

      3. 6.4.3 BASF SE

      4. 6.4.4 Bharat Petroleum Corporation Limited

      5. 6.4.5 Calumet Specialty Products Partners LP

      6. 6.4.6 CEPSA

      7. 6.4.7 DHC Solvent Chemie GmbH

      8. 6.4.8 HCS GROUP GmbH

      9. 6.4.9 Exxonmobil Chemical

      10. 6.4.10 Ganga Rasayanie (P) Ltd

      11. 6.4.11 Royal Dutch Shell PLC

      12. 6.4.12 Total SA

    5. *List Not Exhaustive

**Subject to Availability

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