- Rising demand in production of paints and coatings boosting growth in Aliphatic Solvents Market
- Increasing consumer demand for personal care products fueling market growth; COVID-19 pandemic propelling overall market
- North America is projected to witness substantial growth in overall market during forecast period because of rising demand in printing inks application areas in U.S and Canada
WILMINGTON, Del., Nov. 8, 2022 /PRNewswire/ -- The last decade has witnessed rapid urbanization, especially in developing economies. With more population sections moving from rural areas to urban areas, it led to increasing need for buildings in urban areas.
Rising need for buildings increased the demand for products such as paints and coatings which is triggering the demand for aliphatic solvents and boosting market growth.
Apart from extensively used in paints and coatings industry, aliphatic solvents have also been used in oil extraction activities, rubber production activities, and degreasing.
Some of the commonly used aliphatic solvents include gasoline, kerosene, naphtha, petroleum distillate, mineral spirits, and pentane.
As per study conducted by Transparency Market Research, the global Aliphatic Solvents Market is projected to advance at CAGR of 5.2% during the forecast period between 2020 and 2030.
New aliphatic solvents launches are assisting leading market players in gaining an edge over other players and in generating new, stable revenue streams.
Prominent Aliphatic Solvents Market players are adopting growth strategies such as signing of collaborative agreements with smaller players to expand their presence in global market and increase their revenue.
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Key Findings of Aliphatic Solvents Market Study
- Increasing Demand in Production of Paints and Coatings Triggering Growth in Aliphatic Solvents Market: The last few years have witnessed an increase in building and construction activities which has fueled the demand and paints and coatings. Aliphatic solvents are used in production of paints and coatings. Paints and coatings containing aliphatic solvents provide characteristics such as wettability, improved resistance to corrosion, and adhesion. Furthermore, aliphatic solvents dissolve various components such as additives, pigments, binders, and extenders which are used to formulate paints and coatings
- COVID-19 Pandemic Phase Triggering Growth in Aliphatic Solvents Market: The outbreak of COVID-19 pandemic boosted the growth in overall Aliphatic Solvents Market. During the pandemic phase, manufacturers in paints and coatings industry decided to manufacture products free of odor and anti-bacterial and anti-viral content. These hygienic paints and coatings witnessed increased demand during the coronavirus pandemic phase which in turn fueled the growth in Aliphatic Solvents Market
Aliphatic Solvents Market: Growth Drivers
- Rising demand for sustainable building materials is one of the key driving factors of global Aliphatic Solvents Market
- Increasing consumer demand for personal care products is boosting the growth in overall Aliphatic Solvents Market
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Aliphatic Solvents Market: Regional Market Insights
North America is expected to witness significant growth in overall Aliphatic Solvents Market during the forecast period between 2020 and 2030 because of increasing product demand in printing ink and cleaning and decleansing application areas and presence of numerous leading players in countries such as the U.S. and Canada
Aliphatic Solvents Market: Key Players
The global Aliphatic Solvents Market is competitive, with the presence of several leading players. It is expected that entry of new players could intensify the competition in Aliphatic Solvents Market, during the forecast period.
Prominent market players are making huge investments in research and development undertakings such as establishment of R&D centers that function exclusively in producing improved products that would meet customer requirements across different end-use industries.
Few well-established players in global market include Exxon Mobil Corporation, Total S.A., Royal Dutch Shell PLC, Recochem Inc., and RB Products Inc.
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The global Aliphatic Solvents Market is segmented as follows:
Application
- Paints & Coatings
- Cleaning & Degreasing
- Adhesives
- Aerosols
- Rubbers & Polymers
- Printing Inks
- Others (including Oil & Gas)
Region
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
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About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. The firm scrutinizes factors shaping the dynamics of demand in various markets. The insights and perspectives on the markets evaluate opportunities in various segments. The opportunities in the segments based on source, application, demographics, sales channel, and end-use are analysed, which will determine growth in the markets over the next decade.
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