Global Market Study on De-aromatic Solvents: Increasing Demand from Paints and Coatings, Metal Working Industries to Drive the Growth of Market During the Forecast Period 2016 - 2022


  • Published On : Mar-2016 |
  • Pages : 263 Pages |
  • Format :

This Persistence Market Research report examines the global de-aromatic solvents market for the forecast period 2016 - 2022. The primary objective of the report is to identify opportunities in the market and present updates and insights pertaining to various segments of the global de-aromatic solvents market.

De-aromatic solvents, also called dearomatized hydrocarbon solvents or ultra-low aromatic solvents, are a class of hydrocarbon solvents that are characterized by the presence of paraffinic, iso-paraffinic, and naphthenic components with very low aromatic content (<2%). De-aromatic solvents are of three types, namely low flash point, medium flash point, and high flash point. These dearomatized hydrocarbon solvents find application across various industries and are used as solvents for printing inks, paints & coatings, metalworking fluids, industrial and institutional cleaning, adhesives and sealants, drilling fluids, and in consumer products. They are effective alternatives to conventional solvents such as mineral spirits and mineral turpentine.   

To understand and assess opportunities in this market, the report is categorically divided into four key sections on the basis of boiling point, flash point, application, and region. The report analyses the global de-aromatic solvents market in terms of value (US$ Mn) and volume (metric tons).

The report begins with an overview of the global de-aromatic solvents market, appraising market performance in terms of revenue and volume, followed by PMR’s analysis of key trends, drivers, and restraints witnessed in the global market. Impact analysis of the key growth drivers and restraints based on the weighted average model is also included in the report to equip the client with crystal-clear, decision-making insights.

The subsequent section analyzes the de-aromatic solvents market on the basis of applications and presents a forecast for 2016-2022.

Flash points assessed in the report are:

  • High flash point
  • Medium flash point
  • High flash point

Boiling point types accessed in the report are:

  • Type 1 (1500C-2000C)
  • Type 2 (2000C-2400C)
  • Type 3 (>2400C)

Applications assessed in the report are:

  • Paints and coatings
  • Metal working
  • Industrial cleaning
  • Drilling fluids
  • Adhesives and sealants
  • Consumer products
  • Others (crop protection, chemical intermediates)

The report further analyses the market based on flash point and presents the forecast in terms of value and volume for the next six years.The next section of the report analyses the global de-aromatic solvents market on the basis of boiling point and presents the forecast for the next six years. The following section includes analysis of the global de-aromatic solvents market on the basis of application and forecast in terms of value and volume for the next six years. The report further analyzes the market based on regions and presents the forecast for the next six years.

Regions assessed in the report are:

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • Latin America

To calculate the market size, the report considers various aspects based on secondary research. Furthermore, data points such as regional split and market split by application and qualitative inputs from primary respondents have been incorporated to arrive at appropriate market estimates. The forecast presented in the report assesses the global revenue generated by sales of de-aromatic solvents.

While developing the market forecast, the report begins by sizing the current market, which forms the basis for forecasting how the market is anticipated to take shape in the near future. Given the characteristics of the market, PMR triangulates the data via a different analysis based on the supply side, demand side, and dynamics of the de-aromatic solvents market. However, quantifying the market across the above-mentioned segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalizing them after the forecast has been completed.

It is imperative to note that in an ever-fluctuating global economy, we not only conduct forecasts in terms of CAGR but also analyse the market on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the market and to identify the right opportunities.

Another key feature of this report is the analysis of the de-aromatic solvents market by region, boiling points, flash point, and application, and the corresponding revenue forecast in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market. However, absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from a sales perspective of the global de-aromatic solvents market. 

To understand key segments in terms of their growth and performance in the de-aromatic solvents market, Persistence Market Research has developed a market attractiveness index. The resulting index should help providers identify existing market opportunities in the global de-aromatic solvents market.

In the final section of the report, de-aromatic solvents market competitive landscape is included to provide a dashboard view of companies that manufacture and supply de-aromatic solvents. The report contains company profiles of some of the key players in the global de-aromatic solvents market.

De-aromatic solvents, also called dearomatized hydrocarbon solvents or ultra-low aromatic solvents, are a class of hydrocarbon solvents that are characterized by the presence of paraffinic, iso-paraffinic, and naphthenic components with very low aromatic content (<2%). De-aromatic solvents are of three types, namely low flash point, medium flash point, and high flash point. These dearomatized hydrocarbon solvents find application in various industries and are used as solvents for printing inks, paints & coatings, metal working fluids, industrial and institutional cleaning, adhesives and sealants, drilling fluids, and in consumer products. They are effective alternatives to conventional solvents such as mineral spirits and mineral turpentine.

Global sales revenue of the global de-aromatic solvents market is expected to increase at a CAGR of 5.9% over the forecast period, to reach US$ 2,198.5 Mn by 2022.

Drivers and Trends

Conventional solvents are composed of the relatively higher level of aromatic content and, hence, are characterized by relatively higher levels of Volatile Organic Components (VOCs). On the other hand, in de-aromatic solvents, the aromatic content is significantly low (<2%). This low level of aromatic component results in a solvent that is odorless, with lower VOC content and is relatively less toxic as compared to traditional solvents. These solvents are, thus, relatively safer than traditional solvents such as chlorinated solvents. Growing concerns regarding ill-effects of solvents with high VOC content are leading to the rise in demand for de-aromatic solvents, and this trend is expected to continue during the forecast period as well.

Major players in the de-aromatic solvents market have been channelizing their efforts towards developing eco-friendly or green product offerings that employ bio-based raw materials for their synthesis and thus, eventually do away with the use of conventional solvents in certain applications. Owing to increasing demand for greener alternatives, the 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 impede growth of the de-aromatic solvents market, especially in paints & coatings applications, is increasing demand for water-based paints & coatings, powder coatings, among others across the globe

Market Taxonomy

Persistence Market Research, in its report titled, “De-aromatic Solvents Market: Global Industry Analysis and Forecast, 2016–2022,” has segmented the global de-aromatic solvents market by flash point, boiling point, application, and region. On the basis of flash points, the global de-aromatic solvents market has been segmented into the low flash point, medium flash point, and high flash point. On the basis of application, the market is segmented into paints and coatings, metal working, industrial cleaning, adhesives and sealants, drilling fluids, consumer products, and others. Others segment includes chemical intermediates and crop protection. On the basis of boiling point, the market has been segmented into three types: type1 (1500C–2000C), type 2 (2000C–2400C), and type 3 (>2400C). Finally, on the basis of region, the overall de-aromatic solvents market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa and Latin America. 

Analysis, by Region

Asia-Pacific accounted for the largest revenue share of the global de-aromatic solvents market in 2014, and the market in the region is anticipated to increase at the highest CAGR over the forecast period. Consumption of de-aromatic solvents in Asia-Pacific is projected to increase by 1.4X between 2014 and 2022. Mature markets, i.e. North America and Europe, are expected to register relatively slower growth during the forecast period.

dearomatic-solvents-market

Key market players featured in this report are:

  • Exxon Mobil Corporation.
  • Royal Dutch Shell plc.
  • Total S.A.
  • Idemitsu Kosan Co., Ltd.
  • Neste Oyj.
  • CEPSA.
  • Gandhar Oil Refinery India Ltd.
  • SK Global Chemical Co., Ltd.
  • DHC Solvent Chemie GmbH.
  • Other.
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