The global
De-aromatized Solvent market was valued at USD 1.97 billion in 2024. Forecasts
suggest that this market is expected to grow from USD 2.12 billion in 2025 to
USD 3.45 billion by 2032, exhibiting a CAGR of 6.4% during the forecast period.
This projected
growth reflects increasing demand for low-VOC, eco-friendly solvents across
paints & coatings, industrial cleaning, and adhesives, driven by stringent
environmental regulations and rapid industrialization worldwide.
Download FREE Sample of
this Report
De-aromatized
solvents, also known as ultra-low aromatic solvents, are hydrocarbon-based
formulations with less than 1% aromatic content, primarily consisting of
iso-paraffinic, paraffinic, and naphthenic components. These specialized
solvents offer superior safety, low odor, and reduced toxicity compared to
traditional aromatic alternatives, with key variants including low, medium, and
high flash point formulations.
Market
Trends
Increasing
adoption stems from rigorous VOC emission standards enforced globally,
particularly in paints & coatings (45% market share) and industrial applications.
Asia-Pacific leads growth due to manufacturing booms in China and India, while
North America and Europe emphasize regulatory compliance and sustainability.
The market
benefits from heightened workplace safety awareness and a shift toward sustainable
industrial practices in automotive, construction, and manufacturing sectors.
Market
Dynamics
Drivers
·
Stringent Environmental Regulations: Agencies like EPA and REACH
enforce VOC limits, compelling industries to adopt cleaner solvents.
·
Paints & Coatings Demand: Essential for low-odor,
high-performance eco-friendly formulations amid construction surges.
·
Emerging Market Expansion: Rapid industrialization in Asia-Pacific
boosts usage in cleaning, adhesives, and metalworking.
Restraints
·
High Production Costs: Hydrotreating processes raise prices 15-25%
above conventional solvents, hindering budget markets.
·
Bio-Based Competition: Renewable alternatives from soy or citrus
gain traction for sustainability.
Opportunities
·
Emerging Economies: Asia-Pacific's regulations and growth create
substantial potential.
·
Advanced Innovations: R&D enhances solvency, evaporation, and
recycling for new applications.
Challenges
·
Raw Material Volatility: Crude oil fluctuations disrupt costs and
supply.
·
Technical Constraints: Lower solvency limits high-performance
uses, requiring adjustments.
·
Compliance and Logistics: Diverse regulations and disruptions add
operational hurdles.
Market
Segmentation
By Type: Low
Flash Point, Medium Flash Point, High Flash Point. Medium Flash Point leads for
optimal safety-solvency balance in paints and metalworking.
By Application:
Paints & Coatings (dominant at 45%), Metal Working, Industrial Cleaning,
Consumer Products, Adhesives & Sealants, Drilling Fluids, Others. Paints
& Coatings drives low-VOC compliance.
By End User:
Automotive & Transportation, Building & Construction, Industrial
Manufacturing, Oil & Gas, Consumer Goods. Industrial Manufacturing is
primary.
By Product
Grade: Standard Grade (largest share), High-Purity Grade, Bio-based Grade. High-Purity
grows in electronics/pharma.
By Distribution
Channel: Direct Sales (B2B, predominant), Distributors & Wholesalers,
Online Retail.
Competitive
Landscape
Dominated by
energy majors like ExxonMobil and Shell, alongside regional players such as
Sasol and Sinopec, focusing on expansions and purity innovations.
Key Players:
Exxon Mobil Corporation (USA), Royal Dutch Shell plc (Netherlands/UK), Mehta
Petro Refineries Ltd. (India), Sasol Limited (South Africa), SK Geo Centric
(South Korea), Cepsa (Spain), Gandhar Oil Refinery (India) Ltd., Neste Oyj
(Finland), Sinopec Group (China), PetroChina (China), Luoyang Jinda (China),
Maohua Shihua (China).
Download FREE Sample of
this Report
Global
Trends
Robust 5.9%
CAGR to USD 2.64 billion by 2029, propelled by regulations and low-VOC shifts.
Asia-Pacific fastest-growing; paints/coatings key.
Regional
Analysis
·
Asia-Pacific: Leads via China/India industrialization; regs boost
coatings/cleaning demand.
·
North America: Mature, EPA-driven; strong in paints/adhesives.
·
Europe: REACH-led; vital for automotive/aerospace.
·
South America: Emerging in mining/construction (Brazil focus).
·
Middle East & Africa: Rising in oil/gas diversification.
Report
Scope
Spans 2025-2032
with forecasts, segmentation, profiles (revenue, capacity), and expert insights
on trends, drivers, and risks.
203A, City
Vista, Fountain Road, Kharadi, Pune, India - 411014.
24chemicalresearch,
founded in 2015, leads chemical market research, serving over 30 Fortune 500
clients with policy, competition, and technology insights.
No comments:
Post a Comment