Aliphatic Hydrocarbon Solvents and Thinners Market Worth USD 4.5 Billion by 2020
04 Jan, 2016, 11:30 GMT
PUNE, India, January 4, 2016 /PRNewswire/ --
The report "Aliphatic Hydrocarbon Solvents And Thinners Market by Type (Varnish Markets & Paints, Mineral Spirits and Others), Application (Paints & Coatings, Pharmaceutical, Adhesives, Printing Inks and Others) and Geography - Global Forecast to 2020", published by MarketsandMarkets, The Aliphatic Hydrocarbon Solvents and Thinners Market is projected to reach USD 4.5 Billion by 2020 growing at a projected CAGR of 1.4% for the forecasted period of 2015 - 2020.
Browse 75 market Tables and 20 Figures spread through 191 Pages and in-depth TOC on "Aliphatic Hydrocarbon Solvents and Thinners Market"
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The growing penetration of aliphatic hydrocarbon solvents and thinners in the Asia-Pacific region, as environmental regulations related to these solvents are not very strict in the region, makes it lucrative to produce and sell the aliphatic hydrocarbon solvents and thinners in the region.
Paints & Coatings is the largest as well as the fastest growing application segment of aliphatic hydrocarbon solvents and thinners market
Among the applications, the paints & coatings accounts for the largest share in the aliphatic hydrocarbon solvents and thinners market. It is also projected to be the fastest-growing application of the aliphatic hydrocarbon solvents and thinners market between 2015 and 2020. Increasing number of automotive OEMs and growing machinery and appliances markets in the Asia-Pacific region have boosted the paints and coatings application segment in the region. The rapid growth of construction industry has led to increase in the usage of paints & coatings. This, in turn has led to the increased demand for aliphatic hydrocarbon solvents and thinners, globally.
Mineral Spirits to be the fastest-growing type during the forecasted period among the different aliphatic hydrocarbon solvents and thinners
The mineral spirits accounts segment is estimated to be the fastest-growing segment in this market, due to the effective solvent properties & cleaning capabilities. Varnish makers & paints accounts for the largest share in the global aliphatic hydrocarbon solvents and thinners market but considering the cost and economic factors the mineral spirits continues to grow at tremendous pace during the forecast period.
Asia-Pacific to dominate the global aliphatic hydrocarbon solvents and thinners market in 2020
The Aliphatic Hydrocarbon Solvents and Thinners Market in Asia-Pacific accounted for the largest share and is expected to register the largest share by 2020. This market is mainly driven by factors such as growing population, increasing disposable income, and the growing automotive industry. Also, the construction industry has fueled the growth of the decorative paints market which has consequently led to the growth of the mineral thinners and oils market, as the varnish makers & paints and mineral spirits are widely used in paints and coatings.
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An in-depth market share analysis, in terms of revenue, is also included in the report. These numbers are arrived at based on key facts, annual financial information from SEC filings, annual reports, and interviews with industry experts, key opinion leaders such as CEOs, directors, and marketing executives. Some of the major market players in this market are Exxonmobil Corporation (U.S.), Royal Dutch Shell PLC (Netherlands), CPC Corporation (Taiwan), Recochem Inc. (Canada), W.M. Barr & Company, Inc. (U.S.), Noco Energy Corporation (New York), Gotham Industries (Canada), and others.
The report covers the aliphatic hydrocarbon solvents and thinners market and its trends that concern four regions, namely, North America, Europe, Asia-Pacific, and ROW (Rest of the World); and the major countries in each region such as China, U.S., U.K and others. Various applications such as paints & coatings, pharmaceutical, adhesives, printing inks, rubber & polymer, agricultural chemicals, and others are covered. Aliphatic Hydrocarbon Solvents and thinners by types, which are, varnish makers & paints, mineral spirits, paraffinic solvent, solvent 140, along with others have also been studied.
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