Solvents and thinners made of aliphatic hydrocarbons are those that have straight or branching carbon chains but no aromatic ring. Several industrial products, including paints, coatings, adhesives, printing inks, cleaning products, and lubricants, use these solvents and thinners. They are also employed in the manufacture of organic compounds and as fuel. Since they can efficiently dissolve and distribute a variety of materials, aliphatic hydrocarbon solvents and thinners have been in more demand lately. Also, they are non-toxic and secure for usage in a variety of applications. Also, as environmental rules tighten, aliphatic hydrocarbon solvents and thinners are becoming more popular since they are seen to be more environmentally friendly than other solvents and thinners.
The aliphatic hydrocarbon solvents & thinners market is estimated to grow from USD 3.4 billion in 2020 to USD 4.3 billion by 2025, at a CAGR of 4.5% from 2020 to 2025. Factors such as increased demand for paints & coatings, which require aliphatic hydrocarbon solvents & thinners, from various end-use industries, such as decorative paints, automotive, industrial, and protective paints & coatings is one of the key factors driving the growth of the aliphatic hydrocarbon solvents & thinners market across the globe.
The largest market for aliphatic hydrocarbon solvents & thinners is in the Asia Pacific region, which is also anticipated to develop at the greatest CAGR over the forecast period. The region's expanding demand from the automobile, paint, and coatings sectors is responsible for this expansion. A further factor projected to fuel the growth of aliphatic hydrocarbon solvents & thinners in the Asia Pacific area is the increased investments in infrastructure development and construction activities in the region's nations, including China, India, and Japan. The market in the region is also anticipated to increase as a result of favourable government policies and regulations regarding the usage of aliphatic hydrocarbon solvents and thinners.
ExxonMobil Chemical, Inc. (US), SK Global Chemical Co., Ltd. (South Korea), Royal Dutch Shell Plc. (Netherlands), Calumet Specialty Products Partners, L.P. (US), Gotham Industries (Canada), Gulf Chemicals and Industrial Oils Co. (Saudi Arabia), Recochem Inc. (Canada), HCS Group (Germany), W.M. Barr (US), Ganga Rasayanie (P) Ltd (India), NOCO Energy Corporation (US), Gadiv Petrochemical Industries Ltd. (Israel), Hunt Refining Company (US), Honeywell International Inc. (US), BASF SE (Germany), and LyondellBasell Industries Holdings B.V. (Netherlands) are some of the leading players operating in the aliphatic hydrocarbon solvents & thinners market.
