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Aliphatic Hydrocarbon Solvents & Thinners Market - Forecast(2024 - 2030)
Aliphatic Hydrocarbon Solvents & Thinners Market Overview
Aliphatic Hydrocarbon Solvents & Thinners Market size is forecast to reach $5.39 billion by 2025, after growing at a CAGR of 2.70% during 2020-2025. Surging demand for paints & coatings from decorative, automotive, industrial, and protective paints & coatings industries is fueling the growth of the market across the globe. Increasing demand for residential and commercial buildings from emerging economies acts as an opportunity for the growth of the aliphatic hydrocarbon solvents & thinners market. Growing oil & gas industry will drive aliphatic hydrocarbon solvents & thinners market. They are usually added in mineral spirits, petroleum naphtha, octane and petroleum distillates to enhance its performance.
Report Coverage
The report: “Aliphatic Hydrocarbon Solvents & Thinners Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Aliphatic Hydrocarbon Solvents & Thinners Market Industry.
By Type: Varnish Makers & Painters Naphtha, Mineral Spirit, Hexane, Heptane and Others.
By Application: Paints & Coatings, Cleaning & Degreasing, Adhesives, Aerosols, Rubber & Polymers and Others.
By Geography: North America, South America, Europe, APAC, and RoW.
Key Takeaways
- Aliphatic hydrocarbon solvents & thinners market is expected to grow during the forecast period owing to growing application in paints and coatings across the globe.
- Varnish makers & painters naphtha is the most widely used type of aliphatic hydrocarbon solvent and thinner globally.
- Asia Pacific dominated the aliphatic hydrocarbon solvents & thinners market.
By Type - Segment Analysis
Varnish makers & painters naphtha segment held a significant share in aliphatic hydrocarbon solvents & thinners market in 2019. The rising demand for varnish makers & painters naphtha for use in paints & coatings, and cleaning & degreasing is expected to drive the growth of this segment of the market. Varnish makers & painters naphtha has a high number of applications wherein it can be used. It is used as a thinner for paints & coatings, as a solvent in hydrocarbon cracking, in laundry soaps, organic chemistry, cleaning fluids, and various other applications. It is also used to make varnish and to fuel camping cook stoves and lamps as well as to process fuels, such as gasoline and kerosene. A majority of the manufacturers across the globe produce aliphatic hydrocarbon solvents & thinners, which is a type of varnish makers & painters naphtha.
By Application - Segment Analysis
Paints & Coatings segment held a significant share in aliphatic hydrocarbon solvents & thinners market in 2019 growing at a CAGR of 2.96% during the forecast period. 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 of aliphatic 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.
Geography- Segment Analysis
Asia Pacific dominated the aliphatic hydrocarbon solvents & thinners market with a share of more than 37%, followed by North America and Europe. Due to the high demand application from countries like China, India and Japan the market for aliphatic hydrocarbon solvents & thinners has been increasing. Rise in urbanization, population, and increase in the income of the middle-class population of the region have resulted in increased demand for residential and commercial buildings in the Asia Pacific, thereby contributing to the growth of the aliphatic hydrocarbon solvents & thinners market in this region.
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 of aliphatic hydrocarbon solvents & thinners in paints and coatings. 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 for aliphatic hydrocarbon solvents & thinners over the coming years.
Drivers – Aliphatic Hydrocarbon Solvents & Thinners Market
Increasing usage of aliphatic hydrocarbon solvents & thinners in various applications
Aliphatic hydrocarbon solvents & thinners components are diluted in paints for easy mixture and reducing thickness. In addition, ease in paint application after mixing it with the product will boost the industry growth. Expansion in automotive industry, growing population, increasing disposable income and rising urbanization in developing countries is accelerating industrial rubber demand. Component plays vital role in rubber manufacturing; they are applied in production of tires to glue different pieces and layers of rubber for durability. Increasing demand for rubber in various industries will significantly propel aliphatic hydrocarbon solvents & thinners market. The product is extensively used as carriers for aerosols and disinfectants. Aerosol is a substance enclosed under pressure and released as a fin spray of a propellant gas. Container holding aerosol should be strong enough to carry it. Mishandling of aerosol can lead to severe consequences that can lead to harmful effects on human and its surroundings.
Challenges – Aliphatic Hydrocarbon Solvents & Thinners Market
Health effects
Adverse effects on the human health may restrain aliphatic hydrocarbon solvents & thinners market. Their short-term exposure causes dizziness, headache, and irritation to skin, eyes and unconsciousness. Its long-term exposure causes muscular weakness, distorted vision, damages to lungs & skin, numbness, fatigue and neurological disorder. Further, strict government regulations on these products may restrain the industry growth.
Market Landscape
Technology launches, acquisitions and R&D activities are key strategies adopted by players in the aliphatic hydrocarbon solvents & thinners market. In 2019, the market of aliphatic hydrocarbon solvents & thinners has been consolidated by the top five players accounting for xx% of the share. Major players in the aliphatic hydrocarbon solvents & thinners market are ExxonMobil Chemical, Inc., SK Global Chemical Co., Ltd., Royal Dutch Shell Plc., Calumet Specialty Products Partners, L.P., Gotham Industries, Gulf Chemicals and Industrial Oils Co., Recochem Inc., HCS Group, W.M. Barr, Ganga Rasayanie Ltd, NOCO Energy Corporation, Gadiv Petrochemical Industries Ltd., Hunt Refining Company, Honeywell International Inc., BASF SE, and LyondellBasell Industries Holdings B.V. among others.
Geographical Expansion/ Acquisition
- In September 2017, SK Global Chemical Co. Ltd completed the acquisition of Dow’s Ethylene Acrylic Acid (EAA) business. The products offered by Dow’EAA find applications in coatings, polymer paints, cleaners, and adhesives. This acquisition strengthened the company in the high-value packaging material industry and helped enhance its product portfolio.
- In March 2017, Royal Dutch Shell Plc. opened the Shell Technology Centre, a new technology hub in Bangalore, India, thereby expanding its R&D activities in Asia. This is a 52-acre, custom-built technology center, which can house up to 1,500 experts collaborating on innovative projects, globally. It is one of the 3 major technology hubs of the company, with the other 2 located in the Netherlands and the US.
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1. Aliphatic Hydrocarbon Solvents & Thinners Market- Market Overview
1.1 Definitions and Scope
2. Aliphatic Hydrocarbon Solvents & Thinners Market- Executive Summary
2.1 Market Revenue, Market Size and Key Trends by Company
2.2 Key Trends by Type
2.3 Key Trends by Application
2.4 Key Trends by Geography
3. Aliphatic Hydrocarbon Solvents & Thinners Market- Landscape
3.1 Comparative analysis
3.1.1 Market Share Analysis- Top Companies
3.1.2 Product Benchmarking- Top Companies
3.1.3 Top 5 Financials Analysis
3.1.4 Patent Analysis- Top Companies
3.1.5 Pricing Analysis
4. Aliphatic Hydrocarbon Solvents & Thinners Market - Startup companies Scenario Premium Premium
4.1 Top startup company Analysis by
4.1.1 Investment
4.1.2 Revenue
4.1.3 Market Shares
4.1.4 Market Size and Application Analysis
4.1.5 Venture Capital and Funding Scenario
5. Aliphatic Hydrocarbon Solvents & Thinners Market– Industry Market Entry Scenario Premium Premium
5.1 Regulatory Framework Overview
5.2 New Business and Ease of Doing business index
5.3 Case studies of successful ventures
5.4 Customer Analysis - Top companies
6. Aliphatic Hydrocarbon Solvents & Thinners Market- Market Forces
6.1 Market Drivers
6.2 Market Constraints
6.3 Market Opportunities
6.4 Porters five force model
6.4.1 Bargaining power of suppliers
6.4.2 Bargaining powers of customers
6.4.3 Threat of new entrants
6.4.4 Rivalry among existing players
6.4.5 Threat of substitutes
7. Aliphatic Hydrocarbon Solvents & Thinners Market -Strategic analysis
7.1 Value chain analysis
7.2 Opportunities analysis
7.3 Market life cycle
7.4 Suppliers and distributors Analysis
8. Aliphatic Hydrocarbon Solvents & Thinners Market– By Type (Market Size -$Million)
8.1 Varnish Makers & Painters Naphtha
8.2 Mineral Spirit
8.3 Hexane
8.4 Heptane
8.5 Others
9. Aliphatic Hydrocarbon Solvents & Thinners Market– By Application (Market Size -$Million)
9.1 Paints & Coatings
9.2 Cleaning & Degreasing
9.3 Adhesives
9.4 Aerosols
9.5 Rubber & Polymers
9.6 Others
10. Aliphatic Hydrocarbon Solvents & Thinners Market - By Geography (Market Size -$Million)
10.1 North America
10.1.1 U.S.
10.1.2 Canada
10.1.3 Mexico
10.2 South America
10.2.1 Brazil
10.2.2 Argentina
10.2.3 Colombia
10.2.4 Chile
10.2.5 Rest of South America
10.3 Europe
10.3.1 U.K
10.3.2 Germany
10.3.3 Italy
10.3.4 France
10.3.5 Russia
10.3.6 Netherland
10.3.7 Belgium
10.3.8 Spain
10.3.9 Rest of Europe
10.4 Asia Pacific
10.4.1 China
10.4.2 India
10.4.3 Japan
10.4.4 South Korea
10.4.5 Australia & New Zealand
10.4.6 Rest of Asia Pacific
10.5 RoW
10.5.1 Middle East
10.5.1.1 Saudi Arabia
10.5.1.2 UAE
10.5.1.3 Israel
10.5.1.4 Rest of Middle East
10.5.2 Africa
10.5.2.1 South Africa
10.5.2.2 Nigeria
10.5.2.3 Rest of Africa
11. Aliphatic Hydrocarbon Solvents & Thinners Market- Entropy
11.1 New Product Launches
11.2 M&A’s, Collaborations, JVs and Partnerships
12. Aliphatic Hydrocarbon Solvents & Thinners Market- Entropy Premium
12.1 Market Share by Country- Top companies
12.2 Market Share by Region- Top companies
12.3 Market Share by type of Product / Product category- Top companies
12.4 Market Share at global level- Top companies
12.5 Best Practices for companies
12.6 Best Practices for companies
13. Aliphatic Hydrocarbon Solvents & Thinners Market- List of Key Companies by Country Premium
14. Aliphatic Hydrocarbon Solvents & Thinners Market Company Analysis
14.1 Market Share, Company Revenue, Products, M&A, Developments
14.2 Company 1
14.3 Company 2
14.4 Company 3
14.5 Company 4
14.6 Company 5
14.7 Company 6
14.8 Company 7
14.9 Company 8
14.10 Company 9
14.11 Company 10 and more
"*Financials would be provided on a best efforts basis for private companies"
LIST OF TABLES
1.Global Aliphatic Hydrocarbon Solvents & Thinners Market By Type Market 2023-2030 ($M)1.1 Market Size & Projection Market 2023-2030 ($M) - Global Industry Research
1.2 Varnish Makers & Paints Naphtha Market 2023-2030 ($M) - Global Industry Research
1.3 Mineral Spirits Market 2023-2030 ($M) - Global Industry Research
2.Global Aliphatic Hydrocarbon Solvents & Thinners Market By Type Market 2023-2030 (Volume/Units)
2.1 Market Size & Projection Market 2023-2030 (Volume/Units) - Global Industry Research
2.2 Varnish Makers & Paints Naphtha Market 2023-2030 (Volume/Units) - Global Industry Research
2.3 Mineral Spirits Market 2023-2030 (Volume/Units) - Global Industry Research
3.North America Aliphatic Hydrocarbon Solvents & Thinners Market By Type Market 2023-2030 ($M)
3.1 Market Size & Projection Market 2023-2030 ($M) - Regional Industry Research
3.2 Varnish Makers & Paints Naphtha Market 2023-2030 ($M) - Regional Industry Research
3.3 Mineral Spirits Market 2023-2030 ($M) - Regional Industry Research
4.South America Aliphatic Hydrocarbon Solvents & Thinners Market By Type Market 2023-2030 ($M)
4.1 Market Size & Projection Market 2023-2030 ($M) - Regional Industry Research
4.2 Varnish Makers & Paints Naphtha Market 2023-2030 ($M) - Regional Industry Research
4.3 Mineral Spirits Market 2023-2030 ($M) - Regional Industry Research
5.Europe Aliphatic Hydrocarbon Solvents & Thinners Market By Type Market 2023-2030 ($M)
5.1 Market Size & Projection Market 2023-2030 ($M) - Regional Industry Research
5.2 Varnish Makers & Paints Naphtha Market 2023-2030 ($M) - Regional Industry Research
5.3 Mineral Spirits Market 2023-2030 ($M) - Regional Industry Research
6.APAC Aliphatic Hydrocarbon Solvents & Thinners Market By Type Market 2023-2030 ($M)
6.1 Market Size & Projection Market 2023-2030 ($M) - Regional Industry Research
6.2 Varnish Makers & Paints Naphtha Market 2023-2030 ($M) - Regional Industry Research
6.3 Mineral Spirits Market 2023-2030 ($M) - Regional Industry Research
7.MENA Aliphatic Hydrocarbon Solvents & Thinners Market By Type Market 2023-2030 ($M)
7.1 Market Size & Projection Market 2023-2030 ($M) - Regional Industry Research
7.2 Varnish Makers & Paints Naphtha Market 2023-2030 ($M) - Regional Industry Research
7.3 Mineral Spirits Market 2023-2030 ($M) - Regional Industry Research
LIST OF FIGURES
1.US Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)2.Canada Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
3.Mexico Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
4.Brazil Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
5.Argentina Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
6.Peru Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
7.Colombia Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
8.Chile Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
9.Rest of South America Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
10.UK Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
11.Germany Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
12.France Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
13.Italy Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
14.Spain Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
15.Rest of Europe Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
16.China Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
17.India Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
18.Japan Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
19.South Korea Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
20.South Africa Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2023-2030 ($M)
21.North America Aliphatic Hydrocarbon Solvents & Thinners By Application
22.South America Aliphatic Hydrocarbon Solvents & Thinners By Application
23.Europe Aliphatic Hydrocarbon Solvents & Thinners By Application
24.APAC Aliphatic Hydrocarbon Solvents & Thinners By Application
25.MENA Aliphatic Hydrocarbon Solvents & Thinners By Application
26.Exxonmobil Chemical, Sales /Revenue, 2015-2018 ($Mn/$Bn)
27.Royal Dutch Shell PLC, Sales /Revenue, 2015-2018 ($Mn/$Bn)
28.Calumet Specialty Products Partners, Sales /Revenue, 2015-2018 ($Mn/$Bn)
29.Gotham Industries, Sales /Revenue, 2015-2018 ($Mn/$Bn)
30.Gulf Chemicals & Industrial Oils Company, Sales /Revenue, 2015-2018 ($Mn/$Bn)
31.Recochem Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
32.Haltermann Carless, Sales /Revenue, 2015-2018 ($Mn/$Bn)
33.W.M. Barr & Company Inc., Sales /Revenue, 2015-2018 ($Mn/$Bn)
34.Noco Energy Corporation, Sales /Revenue, 2015-2018 ($Mn/$Bn)