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De-Aromatic Solvents Market

De-Aromatic Solvents Market<br>

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De-Aromatic Solvents Market

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  1. Coherent Market Insights Market Research and Business Consulting Services https://www.coherentmarketinsights.com/ COVID-19 Impact Tracker

  2. DE-AROMATIC SOLVENTS MARKET ANALYSIS De-Aromatic Solvents Market, By Application (Paints & Coatings, Metal Working, Industrial Cleaning, Adhesives & Sealants, Drilling Fluids, Consumer Products, Others (Chemical Intermediates, crop protection, etc.)), By Flash Point (Low Flash Point (<410C), Medium Flash Point (410C – 800C), High Flash Point (>800C)), By Boiling Point (Type 1(1500C–2000C), Type 2(2000C–2400C), Type 3(2400C)). and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2019 – 2027

  3. De-aromatic Solvents Market 2017–2027De-aromatic solvents also referred to as de-aromatized hydrocarbon solvents and are an effective alternative to conventional solvents. They have a wide range of application across paints & coatings, industrial and institutional cleaning, metalworking fluids, solvents for printing inks, drilling fluids, adhesives and sealants, and consumer products. De-aromatic solvents are odorless and have low VOC content and is comparatively less toxic to conventional solvents. Therefore, these solvents are much safer than traditional solvents such as chlorinated solvents and are consider as eco-friendly products that have a less environmental impact.The global de-aromatic solvents market is projected to reach around US$ 2.9 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.9% during the forecast period (2019-2027). • Drivers • Growing replacement of traditional solvents with de-aromatic solvents due to its less VOC content and toxicity is propelling the market growth of de-aromatic solvents. The de-aromatic solvent are odorless with lower VOC content and toxicity than traditional solvents is accelerating their demand around the globe. Therefore, rising awareness regarding the negative environmental impact of solvents is fueling the market growth of de-aromatic solvents over the forecast timeframe. • Increasing implementation of strict rules and regulations associated with VOC is expected to foster the market growth of de-aromatic solvents over the forecast period. According to the Coherent Market Insights, the European Union and the U.S. have framed policies for solvent usage to curb the emission of VOCs that are released into the atmosphere. These policies focus on minimizing the use of conventional solvents and encourage usage of alternative eco-friendly products. Such strict policies have compelled end-users to switch to dearomatized solvents — products that have relatively low levels of VOCs. Thereby propelling the market growth of de-aromatic solvents. • On basis of the region, Asia pacific region dominated the global de-aromatic solvents market in 2018, accounting for 40% share in terms of volume, followed by Europe and North America, respectively.

  4. Market Restraints • Fluctuating prices of feedstock for de-aromatized hydrocarbon solvents is projected to restrict the market growth over the forecast period. Naphtha is a key raw material that is used to produce de-aromatized hydrocarbon solvents and naphtha is derived from crude oil and prices of these petroleum-based de-aromatized hydrocarbon solvents tend to be volatile, as they are influenced by fluctuating crude oil prices. This factor is expected to impact the market growth of de-aromatized solvents negatively over the forecast timeframe. • Growing demand for green product that are produced from bio-based raw materials is expected to hinder the market growth of de-aromatic solvents. Moreover, According to the Coherent Market Insights, demand for greener alternatives, bio-based solvents market is slated to register a steady CAGR of around 6–7% over the forecast period. Another major factor that is projected to restrict the growth of the de-aromatized solvents market is the growing adoption of water-based paints & coatings. Therefore, the aforementioned factors are expected to hinder the market growth of de-aromatic solvents.

  5. Market Opportunities • The growing market of adhesives and sealants is expected to offer enormous growth opportunity to the market growth of de-aromatized solvents. According to the Coatings World, the U.S. demand for adhesives and sealants is expected to reach nearly US$ 13 billion in 2019 and this can be attributed to growing construction activity, combined with the increasing use of adhesives and sealants in manufacturing and assembly will underpin demand gains. This factor is expected to propel the market growth of de-aromatic solvents. • Booming chemical industry, especially in the Asia Pacific region, will favor the market growth of de-aromatic solvents over the forecast period. According to the Invest India, Total production of major chemicals and petrochemicals stood at 27,847 MT during 2018-2019, a growth of 4.15% over 2017-18. The petrochemical demand is expected to grow at 7.5% CAGR from 2019-23, with polymer demand growing at 8%. Therefore, the growing chemical industry is expected to foster the market growth of de-aromatic solvents in the near future. 

  6. Figure 2. Global De-aromatic solvents Market– Opportunity Analysis

  7. Market Trends • The growing focus of manufacturers to expand the production capacity of de-aromatic solvents is expected to foster market growth over the forecast period. For instance, in December 2015, Royal Dutch Shell plc., announced plans to expand its refinery at Pernis, Netherlands, through the addition of a new solvent deasphalting unit for removal of heavy fractions from crude oil. Growing initiatives by the manufacturer to increase production capacity will stimulate market growth. • Expanding steel industry is expected to augment the market growth of de-aromatize solvents. According to the Blackstone Advanced Technologies, LLC, globally, the sheet metal market is expanding at a continuous average growth rate of 4.09% and this growth is projected from 2018 to 2022. Therefore, the rising production of steel around the globe is expected to propel the market growth of de-aromatize solvents over the forecast timeframe.

  8. Figure 3. Global De-aromatic solvents Market, Revenue Share (%), By Form, in 2018 On the basis of flash point de-aromatic solvents, in 2018, medium flash point has accounted the largest market share of 48% in terms of value, followed by high flash point and low flash point de-aromatic solvents respectively.

  9. Figure 4. Global De-aromatic solvents Market – Value Chain Analysis

  10. Competitive Section • Key players operating in global de-aromatic solvents are Exxon Mobil Corporation, Royal Dutch Shell plc., Total S.A., Idemitsu Kosan Co., Ltd., Neste Oyj, Calumet Specialty Products Partners, L.P., CEPSA, Gandhar Oil Refinery India Ltd., SK Global Chemical Co., Ltd., DHC Solvent Chemie GmbH • Few Recent Developments • Royal Dutch Shell plc • In December 2015, Royal Dutch Shell plc, announced plans to expand its refinery at Pernis, Netherlands, through the addition of a new solvent deasphalter unit for removal of heavy fractions from crude oil

  11. Request Sample Report • Request Customization • Download PDF Brochure • Talk to Analyst • Buy Now • Reference: https://www.coherentmarketinsights.com/market-insight/de-aromatic-solvents-market-3577

  12. About Us Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. What we provide: • Customized Market Research Services • Industry Analysis Services • Business Consulting Services • Market Intelligence Services • Long term Engagement Model • Country Specific Analysis

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