The increasing demand from the paints and coatings industry is expected to bolster the healthy growth of the market, states Fortune Business Insights, in a report, The surging demand for refrigerants and lubricants can foster the growth of the market during the forecast period.
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The report on the aliphatic solvents and thinners market includes:
- Greater insights into the market
- Well-analyzed data with facts and figures
- Key growth exhibitors
- Factors restricting market
- Latest market trends
- Market drivers
Market Driver:
Acquisition of Dow Chemical by SK Global Chemicals to Foster Growth
The increasing acquisitions and partnerships among key players can have an outstanding impact on the market. For instance, in September 2017, SK Global Chemicals announced it has completed Dow Chemical's acquisition. Through this, SK Global has received the rights of production facilities at Freeport, Texas, and Tarragona manufacturing facilities in the EAA business. Aliphatic solvents and thinners are aliphatic hydrocarbons that are used as solvents. These solvents are generally derived from petroleum and crude oil. The growing demand for refrigerants, propellants, lubricants, cleaning agents, chemical intermediates, and others from end-use sectors can significantly impact the market. The aliphatic solvents are majorly used as thinners in paints and coatings. The use of solvents for making soaps and other cleaning and degrading agents is expected to spur demand in the foreseeable future. These solvents make the paints durable and enhance their performance. The increasing demand paints and coatings industry is expected to enable speedy expansion of the market in the forthcoming years. However, aliphatic solvents produce poisonous gases, which, in turn, can dampen the growth of the market.
Regional Analysis:
Presence of Key Manufacturers to Enable Growth in Asia Pacific
Asia Pacific is expected to dominate the market due to the heavy demand from the paints& coatings industry. The presence of key manufacturers can create opportunities for the market during the forecast period. North America is expected to exhibit significant growth due to the increasing demand from various industries. Europe is expected to rise exponentially during the forecast period due to European countries' demand for varnishes and solvents. Besides, the rapid industrialization in Europe is expected to aid expansion for aliphatic solvents from various end-use industries. Latin America, Middle East, and Africa are expected to exhibit considerable growth during the forecast period due to the regions' developing industries.
Key Development
December 2019: BASF announced the construction of a new facility to produce automotive refinish coatings and chemicals.
The Report Lists the Key Companies in the Global Aliphatic Solvents and Thinners Market:
- ExxonMobil Chemical, Inc.
- Royal Dutch Shell Plc
- Gotham Industries
- Recochem Inc.
- M. Barr
- NOCO Energy Corporation
- SK Global Chemical Co., Ltd.
- BASF SE
- Ganga Rasayanie
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