The global special boiling point solvents market is expected to grow at an estimated CAGR of 3.02% over the forecast period of 2018-2023. 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 rubber industry are also expected to drive the market.
Growing Demand for Paints & Coatings
Solvent-borne paints, also called oil-based paints, can have various combinations of solvents, as the diluent, including aliphatics, 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. The demand for paints & coatings is increasing substantially from the construction and automotive industry across the globe. Hence, high growth in infrastructure, automotive, and industrial activities will likely boost the demand for paints & coatings across the world and will contribute to the demand for special boiling point solvents.
VM & P Naphtha – A Huge Market Potential
By solvent base, the VM & P naphtha segment accounted for the largest share, in terms of revenue, during 2017. This segment is also expected to register the fastest growth of 3.49% in revenue terms during the forecast period. VM & P naphtha is a medium evaporating (low boiling point solvent) hydrocarbon solvent. It has a high cycloparaffin content, and hence, obtains high solvency rates. It is a petroleum solvent, which is similar to mineral spirits but with a higher volatility. VM & P naphtha is used chiefly as a paint thinner (especially in spraying and brushing applications) or a cleaning agent. It is used as a paint thinner for oil-based paint, varnish, and enamels. Besides this, it finds application in the manufacturing of adhesives, lacquers, coatings, textiles, rubber, resins, and in printing inks.
China Dominates the Market
China stands to be the global leader in the SBPS market. It accounts for more than half of the coatings produced in the Asia-Pacific and is a home to more than 10,000 paint companies. 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.
The major players include – Total SA, ExxonMobil Chemical, Royal Dutch Shell PLC, BASF SE, and CEPSA, amongst others.
Special Boiling Point Solvents Market Report Summary
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Metrics |
Details |
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Industry |
Special Boiling Point Solvents Market |
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Study Period |
(2016 – 2023) |
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Regions Covered |
North America, South America, Asia-Pacific, Europe, and Middle East & Africa |
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Companies Covered |
Total SA, ExxonMobil Chemical, Royal Dutch Shell PLC, BASF SE, and CEPSA, etc. |
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Report Coverage |
Revenue forecast, market share analysis, and market dynamics |
Reasons to Purchase This Report
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Analyzing various perspectives of the market with the help of Porter’s five forces analysis
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The application segment that is expected to dominate the market
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The region that is expected to witness the fastest growth during the forecast period
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Identify the latest developments, market share, and strategies employed by the major market players.
- 3 months analyst support along with the Market Estimate sheet (in excel)
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1. Introduction
1.1 Scope of the Report
1.2 Study Assumptions
1.3 Study Deliverables
1.4 Research Phases
2. Executive Summary
3. Market Insights
3.1 Industry Value Chain Analysis
3.2 Industry Attractiveness – Porter’s Five Forces Analysis
3.2.1 Bargaining Power of Suppliers
3.2.2 Bargaining Power of Consumers
3.2.3 Threat of New Entrants
3.2.4 Threat of Substitute Products and Services
3.2.5 Degree of Competition
3.3 Production Process
3.3.1 SBRS with less than 0.02 wt% Aromatic Compounds
3.3.2 SBRS with up to 20 wt% Aromatic Compounds
3.3.3 SBRS with up to 50 wt% Aromatic Compounds
3.4 Patent Analysis
3.5 Regulatory Policy Analysis
4. Market Dynamics
4.1 Drivers
4.1.1 Growing Global Demand for Paints and Coatings
4.1.2 Strong Adhesive Market
4.1.3 Growing Demand from the Rubber Industry
4.2 Restraints
4.2.1 Stringent Environmental Regulations on VOCs
4.2.2 Rising Popularity of Water as a Solvent
4.3 Opportunities
5. Market Segmentation and Analysis (Market Size, Growth, and Forecast)
5.1 By Solvent Base
5.1.1 Petroleum Ether
5.1.2 Rubber Solvent
5.1.3 VM & P naphtha
5.2 By Application
5.2.1 Paints, Coatings, and Inks
5.2.2 Adhesives
5.2.3 Rubbers & Tires
5.2.4 Resins
5.2.5 Cleaning Agents
5.2.6 Other Applications
6. Regional Market Analysis (Market Size, Growth, and Forecast)
6.1 Asia-Pacific
6.1.1 China
6.1.2 India
6.1.3 Japan
6.1.4 South Korea
6.1.5 ASEAN Countries
6.1.6 Rest of Asia-Pacific
6.2 North America
6.2.1 United States
6.2.2 Canada
6.2.3 Mexico
6.2.4 Rest of North America
6.3 Europe
6.3.1 Germany
6.3.2 United Kingdom
6.3.3 France
6.3.4 Italy
6.3.5 Spain
6.3.6 Rest of Europe
6.4 South America
6.4.1 Brazil
6.4.2 Argentina
6.4.3 Rest of South America
6.5 Middle-East & Africa
6.5.1 Saudi Arabia
6.5.2 South Africa
6.5.3 Rest of Middle East & Africa
7. Future of the Market
8. Competitive Landscape
8.1 Market Share Analysis
8.2 Strategies Adopted by Leading Players
9. Company Profiles (Overview, Financials**, Products & Services, and Recent Developments)
9.1 Bajrang Petrochemicals
9.2 Banner Chemical Group
9.3 BASF SE
9.4 Bharat Petroleum Corporation Limited
9.5 Calumet Specialty Products Partners LP
9.6 CEPSA
9.7 DHC Solvent Chemie GmbH
9.8 HCS GROUP GmbH
9.9 Exxonmobil Chemical
9.10 Ganga Rasayanie (P) Ltd
9.11 Royal Dutch Shell PLC
9.12 Total SA
10. Disclaimer
**Subject to availability on public domain
