Global Aliphatic Solvents & Thinners Market: Overview
Global aliphatic solvents & thinners market is prognosticated to experience remarkable growth over the period of assessment. Aliphatic solvents & thinners find use as diluents in paints. Surging demand for paints & coatings from automotive, industrial, decorative, and protective paints & coatings industries is fueling the growth of the market across the globe.
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Rising demand from commercial and residential buildings from the developing countries acts as an opportunity for the growth of the global aliphatic solvents & thinners market during the forecast period.
The global aliphatic solvents & thinners market has been segmented on the basis of type, application and region.
Global Aliphatic Solvents & Thinners Market: Notable Developments
The global aliphatic solvents & thinners market has witnessed the following developments in recent times:
- In September 2017, Dow Chemical Company’s Ethylene Acrylic Acid (EAA) business was acquired by SK Global Chemical Co. Ltd. The product offerings of the former find use in adhesives, cleaners, polymer paints, and in coatings. The acquisition has reinforced the position of the company in the packaging material industry and expanded its present product portfolio.
- In March 2017, in effort to expand its research and development activities in Asia, Royal Dutch Shell Plc. inaugurated its Shell Technology Centre in Bangalore, India. This technology centre is capable of housing 1,500 experts working on various innovative projects across the globe. The other two technology hubs of Royal Dutch Shell Plc. are located in the US and the Netherlands.
Some of the key market players of the global aliphatic solvents & thinners market are
- SK Global Chemical Co., Ltd
- Gotham Industries
- Gulf Chemicals and Industrial Oils Co.
- Royal Dutch Shell Plc.,
- ExxonMobil Chemical, Inc.
- Calumet Specialty Products Partners, L.P
- NOCO Energy Corporation
- Gadiv Petrochemical Industries Ltd.
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Global Aliphatic Solvents & Thinners Market: Growth Drivers
Growth of the Paints and Coatings Industry Bolsters Market Demand of Aliphatic solvents & thinners
The global aliphatic solvents & thinners market is majorly driven by the increasing use of mineral spirits in place of turpentine. Most of the painters prefer using mineral spirits as a paint thinner as it comes with a cheaper price, less pungent odor and is not as sticky as turpentine.
Furthermore, the global aliphatic solvents & thinners market also gains momentum from the high growth of the paints & coatings industry. The construction and automotive industries have been on the growth trajectory for some time now. Rapid urbanization and industrialization have given the much-needed impetus to the construction and automotive industry, which has furthered the use of paints and coatings. With the increasing use of paints and coatings, the global demand for aliphatic solvents & thinners is accelerated.
Global Aliphatic Solvents & Thinners Market: Regional Outlook
In terms of region, the global aliphatic solvents & thinners market is divided into the five principal regions of North America, South America, Europe, Middle East and Africa, and Asia Pacific. The Asia Pacific regions is likely to account for the leading share of the global aliphatic solvents & thinners market during the assessment timeframe.
South Korea, Japan, India, and China are the major buyers of aliphatic solvents and thinners in the region. Rapid urbanization together with increasing base of population in the region and rise in the disposable income of the people in the region have contributed toward the expansion of the global aliphatic solvents & thinners market.
The global aliphatic solvents & thinners market is segmented as:
- Varnish Makers’ & Painters’ Naphtha
- Mineral Spirits
- Others (Paraffinic Solvent, Pentane, and Solvent 140)
- Paints & Coatings
- Cleaning & Degreasing
- Rubbers & polymers
- Printing inks
- Others (Agrochemicals, Pharmaceuticals, and Automotive)
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