Special Boiling Point Solvents Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | < 3.00 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | Asia Pacific |
| Market Concentration | High |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Special Boiling Point Solvents Market Analysis
The special boiling point solvents marketis expected to witness moderate growth, at an estimated CAGR of 3%, over the forecast period. One of the major factors driving the market is the rising demand for paints andcoatings in various industries. A surging adhesives market and demand from the rubber industry are also expected to drive the market.
- Environmental concerns, issues regarding health and safety, and the rising popularity of water as a solvent are anticipated to hinder the growth of the market studied.
- Asia-Pacific accounted for the largest share of around 40%. The region is also expected to be registeringthe fastest CAGRover the forecast period.
Special Boiling Point Solvents Market Trends
This section covers the major market trends shaping the Special Boiling Point Solvents Market according to our research experts:
Rising Demand for Paints and Coatings
- Special boiling point solvents are used in paints & coatings formulations to dissolve other compounds, such as pigments, binders, additives, etc.,
- After the paint is applied on any surface, these solvents evaporate, and hence, allows the resin & pigment to produce a film of paint on the surface and to dry very quickly. These solvents are essential in coating formulations, as they control viscosity of paints, and have a strong effect on film quality, which is majorly dependent on the solvents’ rate of evaporation during drying period.
- Solvent-borne paints, also called as oil-based paints, can have various combinations of solvents, as a diluent, including aliphatic, aromatics, alcohols, ketones, and white spirit. These include organic solvents, such as petroleum distillate, esters, and glycol ether.
- Solvent-borne paints are manufactured by using liquefying agents that evaporate during a chemical reaction with oxygen. The air surrounding a solvent-borne coating helps to speed up the reaction, therebyreducing the drying time.
- Solvent-borne coatings are less susceptible to environmental conditions, such as temperature and humidity, during the curing phase, as compared to water-based coatings. This is one of the reasons for the rising preference of solvent-based coatings.
- Asia-Pacific is one of the fastest-growing markets for paints andcoatings, due to rapid growth in decorative and industrial coatings.
Asia-Pacific Region to Dominate the Market
- The Asia-Pacific region dominated the global market share. Special boiling point solvents are used to provide long-lasting protection and brilliant performance in extreme weather conditions to paints and coatings.
- Currently, China produces more than half of the Asia-Pacific coatings and is home to more than 10,000 paint companies, among which, local producers occupy more than half of the domestic paint market share.
- The coatings market is growing at a high rate in China, with increasing downstream demand. The booming construction and automotive industries are likely to propel the market for paints and coatings, which, in turn, is expected to drive the special boiling point solvents, during the forecast period.
- Due to insufficient environmental protection measurements, many medium and small-sized coatings manufacturers are shutting down their facilities in China, which is likely to hinder the market growth.
- However, the increased investment in the coating industry from giant companies is likely to stimulate the market in China.
- All the aforementioned factors may contribute to the growth of the market in the Asia-Pacific region.
Special Boiling Point Solvents Industry Overview
The special boiling point solvents market is consolidated and is focused on research and innovation. Major players of the market are Royal Dutch Shell PLC, ExxonMobil Chemical, Total SA, HCS Group GmbH., DHC Solvent Chemie GmbH, etc.
Special Boiling Point Solvents Market Leaders
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Royal Dutch Shell PLC
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ExxonMobil Chemical
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Total SA
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HCS Group GmbH.
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DHC Solvent Chemie GmbH
*Disclaimer: Major Players sorted in no particular order
Special Boiling Point Solvents Market Report - Table of Contents
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1. INTRODUCTION
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1.1 Study Deliverables
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1.2 Study Assumptions
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1.3 Scope of the Study
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2. RESEARCH METHODOLOGY
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3. EXECUTIVE SUMMARY
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4. MARKET DYNAMICS
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4.1 Drivers
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4.1.1 Growing Global Demand for Paints and Coatings
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4.1.2 Strong Adhesive Market
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4.1.3 Rising Demand from the Rubber Industry
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4.2 Restraints
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4.2.1 Stringent Environmental Regulations on VOCs
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4.2.2 Rising Popularity of Water as a Solvent
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4.3 Industry Value Chain Analysis
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4.4 Porter's Five Forces Analysis
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4.4.1 Bargaining Power of Suppliers
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4.4.2 Bargaining Power of Consumers
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4.4.3 Threat of New Entrants
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4.4.4 Threat of Substitute Products and Services
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4.4.5 Degree of Competition
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5. MARKET SEGMENTATION
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5.1 Solvent Base
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5.1.1 Petroleum Ether
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5.1.2 Rubber Solvent
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5.1.3 VM and P Naphtha
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5.2 Application
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5.2.1 Paints, Coatings, and Inks
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5.2.2 Adhesives
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5.2.3 Rubbers and Tires
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5.2.4 Resins
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5.2.5 Cleaning Agents
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5.2.6 Other Applications
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5.3 Geography
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5.3.1 Asia-Pacific
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5.3.1.1 China
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5.3.1.2 India
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5.3.1.3 Japan
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5.3.1.4 South Korea
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5.3.1.5 ASEAN Countries
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5.3.1.6 Rest of Asia-Pacific
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5.3.2 North America
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5.3.2.1 United States
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5.3.2.2 Canada
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5.3.2.3 Mexico
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5.3.2.4 Rest of North America
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5.3.3 Europe
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5.3.3.1 Germany
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5.3.3.2 United Kingdom
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5.3.3.3 France
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5.3.3.4 Italy
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5.3.3.5 Spain
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5.3.3.6 Rest of Europe
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5.3.4 South America
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5.3.4.1 Brazil
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5.3.4.2 Argentina
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5.3.4.3 Rest of South America
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5.3.5 Middle East & Africa (MEA)
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5.3.5.1 Saudi Arabia
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5.3.5.2 South Africa
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5.3.5.3 Rest of Middle East & Africa
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6. COMPETITIVE LANDSCAPE
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6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
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6.2 Market Share Analysis**
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6.3 Strategies Adopted by Leading Players
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6.4 Company Profiles
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6.4.1 Bajrang Petrochemicals
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6.4.2 Banner Chemical Group
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6.4.3 BASF SE
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6.4.4 Bharat Petroleum Corporation Limited
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6.4.5 Calumet Specialty Products Partners LP
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6.4.6 CEPSA
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6.4.7 DHC Solvent Chemie GmbH
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6.4.8 HCS Group GmbH.
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6.4.9 Exxonmobil Chemical
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6.4.10 Ganga Rasayanie (P) Ltd
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6.4.11 Royal Dutch Shell PLC
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6.4.12 Total SA
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- *List Not Exhaustive
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7. MARKET OPPORTUNITIES AND FUTURE TRENDS
Special Boiling Point Solvents Industry Segmentation
The scope of the special boiling point solvents market report includes:
| Solvent Base | |
| Petroleum Ether | |
| Rubber Solvent | |
| VM and P Naphtha |
| Application | |
| Paints, Coatings, and Inks | |
| Adhesives | |
| Rubbers and Tires | |
| Resins | |
| Cleaning Agents | |
| Other Applications |
| Geography | ||||||||
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Special Boiling Point Solvents Market Research FAQs
What is the current Special Boiling Point Solvents Market size?
The Special Boiling Point Solvents Market is projected to register a CAGR of less than 3% during the forecast period (2024-2029)
Who are the key players in Special Boiling Point Solvents Market?
Royal Dutch Shell PLC, ExxonMobil Chemical, Total SA, HCS Group GmbH. and DHC Solvent Chemie GmbH are the major companies operating in the Special Boiling Point Solvents Market.
Which is the fastest growing region in Special Boiling Point Solvents Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Special Boiling Point Solvents Market?
In 2024, the Asia Pacific accounts for the largest market share in Special Boiling Point Solvents Market.
What years does this Special Boiling Point Solvents Market cover?
The report covers the Special Boiling Point Solvents Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Special Boiling Point Solvents Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Special Boiling Point Solvents Industry Report
Statistics for the 2024 Special Boiling Point Solvents market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Special Boiling Point Solvents analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
