De-aromatic solvents are also known as de-aromatized hydrocarbon solvents, is a class of hydrocarbon solvents and are defined by the appearance of naphthenic components, isoparaffinic, and paraffinic components with very low aromatic content. In addition, de-aromatic solvents are highly used in various applications such as industrial cleaning, paints & coatings, metalworking, drilling fluids adhesives & sealants, and others.
Increasing concerns related to the hazards of using conventional solvents and rising demand for effective, eco-friendly, safer alternatives across the globe resulting in a growing demand for de-aromatic solvents across the globe. In addition, rising adoption of de-aromatic solvents in mosquito repellents, aerosols, household insecticides, etc., and increasing demand for coatings, inks, and paints results in a growing demand for de-aromatic solvents across many countries.
Increasing use of de-aromatic solvents in several metalworking applications and growing demand for different types of de-aromatic solvents including high flash point, medium flash point, and low flash point across the globe. These are other reasons for the high growth of the target product across the globe. In addition, growing demand for bio-based solvents among several industries and rising demand for consumer products, paints and coatings especially in emerging economies resulting in increasing demand for de-aromatic solvents globally. These are some other factors that are supporting the rising adoption of the de-aromatic solvents globally.
Furthermore, rising adoption of low flash point de-aromatic solvents in various paints and coatings applications due to its numerous properties including less odor, faster drying times, lower VOC content, and others. This is another factor support for the growth of the target product globally. Increasing demand for regulatory compliances and non-toxic alternatives resulting in rising demand for de-aromatic solvents across the globe.
Moreover, increasing suppliers and manufacturers of de-aromatic solvents across the globe and rising use of de-aromatic solvents in many applications are some other reasons for high growth of the de-aromatic solvents in the next 10 years.
However, changing raw material prices across the globe is a key factor that may hamper the growth of the target market to a certain extent.
Among the application segments, the paints & coatings segment will register major growth in the global market, owing to the rising adoption of paints and powder coatings across the globe.
High use of de-aromatic solvents in many applications among various industries and high adoption of consumer products in countries such as India, China, Japan, US, and Canada in the Asia Pacific and North America regions will register major growth in the global market. Increasing awareness about different beneficial properties associated with de-aromatic solvents and rising adoption of low flash point, high flash point, and medium-flashpoint de-aromatic solvents in countries such as Germany, Italy, France, UK, Brazil, Mexico, South Africa, and Israel in Latin America, Europe, and Middle East & Africa regions.
Prominent players operating in the global de-aromatic solvents market include Exxon Mobil, Royal Dutch Shell, Mehta Petro Refineries, Eastern Petroleum, SK, Cepsa, Gandhar Oil Refinery, Neste Oyj, Sinopec Group, Petro China, Luoyang Jinda, and Maohua Shihua