Aliphatic Solvents Market: Introduction
In terms of value, the global aliphatic solvents market is anticipated to expand at a CAGR of 5.2% from 2020 to 2030 and reach US$ 3.34 Bn by 2030. Asia Pacific dominated the global aliphatic solvents market in terms of volume in 2019. It is estimated to lead the global aliphatic solvents market during the forecast period. The paints coatings application segment is projected to offer lucrative opportunities to the global aliphatic solvents market in the near future.
The aliphatic solvents market in North America is anticipated to expand at a rapid pace during the forecast period. The aliphatic solvents market in Europe is projected to expand at a healthy CAGR during the forecast period. According to Oxford Economics, the global construction industry output is likely to increase by 85% to reach value of US$ 15.5 Trn by 2030, with three major countries – China, the U.S., and India – accounting for 57% of the global market.
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This is expected to boost the demand for aliphatic solvents that are utilized in paints coatings in the building construction sector during the forecast period. In turn, this is likely to propel the global aliphatic solvents market in the near future.
Competition Landscape of Aliphatic Solvents Market
Key manufacturers operating in the global aliphatic solvents market include Exxon Mobil Corp., Total S.A., Royal Dutch Shell Plc, RB PRODUCTS, INC., Ganga Rasayanie Private Limited, Pon Pure Chemicals Group, Carolina International Sales Company Inc., Gadiv Petrochemical Industries Ltd., HCS Group GmbH, Recochem Inc., and Gulf Chemical Industrial Oils.
Aliphatic Solvents Market: Major Drivers and Restraints
Aliphatic solvents play a significant role in paints and coatings in the desired consistency and help avoid globs or clums. Aliphatic solvents play a vital role in coating formulations even if they are not present in the final stage due to evaporation and control viscosity for the application. Industrial coatings made with aliphatic solvents dry up to 10 times faster than low-solvent alternatives at room temperature, making painting fast and easy along with other benefits such as long-lasting protection and strong performance in extreme weather conditions.
Aliphatic solvents are a powerful group of solvents possessing outstanding properties such as slow evaporation that helps provide several smooth, flawless applications of paints for an attractive, more durable finish. Paints and coatings are widely used in construction, automotive transportation, and wood industries. They are primarily employed to protect structures from any external damage in the building construction industry. Paints and coatings are employed in various applications in decorating residential and non-residential infrastructure buildings, industrial equipment, automobiles marine, and industrial wood.
There has been a significant growth in real estate activities across the globe, along with rapid industrialization in the Middle East. Countries such as Saudi Arabia and the UAE aim to reduce their dependence on the oil industry for economic growth and focus on other industries. Thus, the construction industry has witnessed major growth in the Middle East. The construction industry requires paints coatings, cleaning degreasing agents, and adhesives. This is driving the demand for aliphatic solvents.
Aliphatic Solvents Market: Key Application
Based on application, the paints coatings segment held notable share of the global aliphatic solvents market in 2019. This trend is estimated to continue during the forecast period. The rubbers polymers segment of the global aliphatic solvents market is anticipated to expand at a healthy CAGR during the forecast period, owing to the increase in demand for rubber in the tire industry. Hydrocarbon waxes act as ozone resistance additives in rubber, thereby increasing the durability of rubber.
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Aliphatic Solvent Manufacturers Gaining Strong Research Base in Recyclable Rubber
Recyclable rubber and construction waste are storming the aliphatic solvents market due to the high demand for sustainable building materials. This explains why the aliphatic solvents market is expected to reach the revenue of US$ 3.34 Bn by the end of 2030. New rubber is made from canola oil and sulfur, which tend to reduce its recyclable property. Hence, a team of researchers from South Australia’s Flinders University has designed a recyclable rubber polymer that can accommodate construction waste. Aliphatic solvent manufacturers should collaborate with such researchers to gain a competitive edge in the global market landscape.
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