Aliphatic Hydrocarbon Solvents & Thinners Market - Forecast(2021 - 2026)

Report Code: CMR 79030 Report Format: PDF + Excel (Delivery in 48 Hrs)

Overview

Aliphatic Hydrocarbon Solvents and 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 and Thinners Market – Forecast (2020-2025)”, by IndustryARC, covers an in-depth analysis of the following segments of the Aliphatic Hydrocarbon Solvents and 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 and 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 and thinners market.

By Type - Segment Analysis

Varnish makers & painters naphtha segment held a significant share in aliphatic hydrocarbon solvents and 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 and 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 and 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 and 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 and 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 and thinners over the coming years.

Drivers – Aliphatic Hydrocarbon Solvents and Thinners Market

Increasing usage of aliphatic hydrocarbon solvents and thinners in various applications

Aliphatic hydrocarbon solvents and 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 and 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 and thinners market. In 2019, the market of aliphatic hydrocarbon solvents and thinners has been consolidated by the top five players accounting for xx% of the share. Major players in the aliphatic hydrocarbon solvents and 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.
1. Aliphatic Hydrocarbon Solvents and Thinners Market- Market Overview
    1.1 Definitions and Scope
2. Aliphatic Hydrocarbon Solvents and 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 and 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 and 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 and 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 and 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 and 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 and Thinners Market– By Type (Market Size -$Million)
    8.1 Varnish Makers & Painters Naphtha
    8.2 Mineral Spirit
    8.3 Hexane 
    8.4 Heptane 
    8.5 Others 
9. Aliphatic Hydrocarbon Solvents and Thinners Market– By Application (Market Size -$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 and 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 and Thinners Market- Entropy
    11.1 New Product Launches
    11.2 M&A’s, Collaborations, JVs and Partnerships
12. Aliphatic Hydrocarbon Solvents and 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 and Thinners Market- List of Key Companies by Country Premium 
14. Aliphatic Hydrocarbon Solvents and 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 2019-2024 ($M)
1.1 Market Size & Projection Market 2019-2024 ($M) - Global Industry Research
1.2 Varnish Makers & Paints Naphtha Market 2019-2024 ($M) - Global Industry Research
1.3 Mineral Spirits Market 2019-2024 ($M) - Global Industry Research
2.Global Aliphatic Hydrocarbon Solvents & Thinners Market By Type Market 2019-2024 (Volume/Units)
2.1 Market Size & Projection Market 2019-2024 (Volume/Units) - Global Industry Research
2.2 Varnish Makers & Paints Naphtha Market 2019-2024 (Volume/Units) - Global Industry Research
2.3 Mineral Spirits Market 2019-2024 (Volume/Units) - Global Industry Research
3.North America Aliphatic Hydrocarbon Solvents & Thinners Market By Type Market 2019-2024 ($M)
3.1 Market Size & Projection Market 2019-2024 ($M) - Regional Industry Research
3.2 Varnish Makers & Paints Naphtha Market 2019-2024 ($M) - Regional Industry Research
3.3 Mineral Spirits Market 2019-2024 ($M) - Regional Industry Research
4.South America Aliphatic Hydrocarbon Solvents & Thinners Market By Type Market 2019-2024 ($M)
4.1 Market Size & Projection Market 2019-2024 ($M) - Regional Industry Research
4.2 Varnish Makers & Paints Naphtha Market 2019-2024 ($M) - Regional Industry Research
4.3 Mineral Spirits Market 2019-2024 ($M) - Regional Industry Research
5.Europe Aliphatic Hydrocarbon Solvents & Thinners Market By Type Market 2019-2024 ($M)
5.1 Market Size & Projection Market 2019-2024 ($M) - Regional Industry Research
5.2 Varnish Makers & Paints Naphtha Market 2019-2024 ($M) - Regional Industry Research
5.3 Mineral Spirits Market 2019-2024 ($M) - Regional Industry Research
6.APAC Aliphatic Hydrocarbon Solvents & Thinners Market By Type Market 2019-2024 ($M)
6.1 Market Size & Projection Market 2019-2024 ($M) - Regional Industry Research
6.2 Varnish Makers & Paints Naphtha Market 2019-2024 ($M) - Regional Industry Research
6.3 Mineral Spirits Market 2019-2024 ($M) - Regional Industry Research
7.MENA Aliphatic Hydrocarbon Solvents & Thinners Market By Type Market 2019-2024 ($M)
7.1 Market Size & Projection Market 2019-2024 ($M) - Regional Industry Research
7.2 Varnish Makers & Paints Naphtha Market 2019-2024 ($M) - Regional Industry Research
7.3 Mineral Spirits Market 2019-2024 ($M) - Regional Industry Research

LIST OF FIGURES

1.US Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
2.Canada Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
3.Mexico Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
4.Brazil Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
5.Argentina Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
6.Peru Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
7.Colombia Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
8.Chile Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
9.Rest of South America Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
10.UK Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
11.Germany Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
12.France Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
13.Italy Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
14.Spain Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
15.Rest of Europe Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
16.China Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
17.India Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
18.Japan Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
19.South Korea Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($M)
20.South Africa Aliphatic Hydrocarbon Solvents & Thinners Market Revenue, 2019-2024 ($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)