“Aromatic and Aliphatic Solvents Market report provides the latest market data along with industry future trends, which keeps tracking of users driving revenue growth rate of Aromatic and Aliphatic Solvents Market by source (bio-based, conventional source), by application (metal cleaning, paints & coatings, pharmaceuticals, personal care, printing inks and rubber & polymer), by type(mineral spirits, paraffinic solvents, varnish & paints) market status and outlook of global and major regions, from manufacturers, and end industries. As this report is expected to help key players among the Aromatic and Aliphatic Solvents Market it includes the five years Industry analysis and the 6 years annual forecast from 2017 to 2023. Some of the prominent participants in the Global Aromatic and Aliphatic Solvents Market are BASF SE, Celanese Corporation, Chevron Phillips Chemical Company, Eastman Chemical Company, Exxonmobil Corporation, Honeywell International Inc, Ineos AG, LyondellBasell Industries N.V, Royal Dutch Shell and Sasol Ltd.” According to the report the Global Aromatic and Aliphatic Solvents Market is projected to grow at a CAGR of between 2.5% to 3.5% in terms of value over the period of 2017-2023. The growth in the world market is primarily driven by significant contribution by North America (Leading region) region to this market.
Increasing Demand from Industries such as Adhesives, Sealants, Paint and Coatings for Aliphatic Solvents, due to its Intense Chemical and Properties is expected to drive the Growth of the Aromatic and Aliphatic Solvents Market
The aromatic solvents market size was more than USD 5.40 billion in 2015. The global aromatic and aliphatic solvents market is projected to reach USD x.xx billion by 2023, growing with a CAGR between 2.5% to 3.5% from 2017 to 2023. The demand in the industries such as automotive and construction sector are expected to drive the growth in the aromatic and aliphatic solvents market, as the solvents are utilized for removing grease and oil. Among aromatic solvents, solvent naphtha and xylene are generating huge demand from various end user industries and it is expected to drive the growth of the market. The increasing demand for agrochemicals and cosmetics are expected to enhance the growth of market. Varnish and naphtha end user segments are expected to grow at a faster pace among aliphatic solvents during the forecast period. Mineral spirits replacing turpentine as thinner in the paint industry is expected to provide growth opportunities for the market. The health hazards related to solvents such as benzene due to their toxic nature and the stringent government regulations for organic chemicals are expected to be the restraining factors in the aromatic and aliphatic solvents market. The availability of environmental friendly alternatives for aromatic and aliphatic solvents poses a major challenge to the growth of the market, due to increasing government regulations in various countries. However, the acceptance of bio-based aromatic and aliphatic solvents in matured economies, where there are stringent government regulations regarding chemicals, provides a positive outlook for aromatic and aliphatic solvents during the forecast period.
Asia-Pacific Region has a major Share in the Global Aromatic Solvents Market, due to High Volume of Consumption, Especially in China and Korea.
The report provides regional analysis covering geographies such as North America, Europe, Asia-Pacific, and Rest of the World. In this section the key trends and market size for each geography is provided over the period of 2017 – 2023.Moreover, due to stringent environmental regulations, the demand for conventional solvents is making way for bio-based solvents in the European aromatic and aliphatic solvents market. Germany drives the growth of the European market, which is otherwise a matured market. In Asia-Pacific region, the increased market penetration of aliphatic solvents is anticipated to drive the growth of the market, with more potential left to tap in the middle-eastern countries, which are having construction boom Growth in automotive and construction industries is expected to drive the growth of the market in the region. The U.S. is expected to drive North-American aromatic and aliphatic solvents market to a moderate growth due to the increasing demand from pharmaceuticals, conventional oil & gas, and shale gas industries. In Latin America, the demand for aromatic solvents from countries such as Argentina, Brazil and Venezuela are expected to drive the market to a steady growth. Developing countries in rest of the world are expected to provide growth opportunities for the major players in the market to expand, as they have less stringent environmental regulations, when compared to the matured economies, during the forecast period.
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Segments Covered in this Premium Report:
The report segments the global aromatic and aliphatic Solvents Market by source, application, type and region. Sources include bio-based source and conventional source. Based on application, the market is segmented as adhesives, agricultural chemicals, metal cleaning, paints & coatings, pharmaceuticals, personal care, printing inks and rubber & polymer. Based on type, aromatic solvents are segmented as mineral spirits, paraffinic solvents, varnish & paints and some others while aliphatic solvents are segmented as benzene, ethyl benzene, toluene, xylene and some others.
The companies covered in the report include BASF SE, Celanese Corporation, Chevron Phillips Chemical Company, Eastman Chemical Company, Exxonmobil Corporation, Honeywell International Inc, Ineos AG, LyondellBasell Industries N.V, Royal Dutch Shell and Sasol Ltd.