Award-winning consulting firm Fact.MR’s recent report on the global aliphatic solvents for adhesives market projects a healthy forecast, expecting a valuation of US$ 3 billion by 2031, and a CAGR of 5% throughout the forecast period 2021-2031. Growth is likely to remain sustained on the back of a surging global construction industry, which is paving the way for rising infrastructure development projects, especially in the Asia Pacific region.
As per Oxford Economics, global construction industry output is likely to increase by a whopping 85% to surpass US$ 15 trillion by 2030, primarily led by three major countries – China, the United States, and India. Collectively, these three shall contribute 57% revenue to the global market. Hence, demand for paints & coatings for various residential and non-residential projects is expected to incline, providing fertile ground for aliphatic solvent adoption.
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Consequently, the global market is experiencing a slew of new solvent launches, with each player offering a diverse range of product offerings. Countries such as China, Japan, and India are expected to generate maximum expansion opportunities, as rapid urbanization spurs housing projects to accommodate the expanding population.
Key Takeaways from Market Study
- By application, demand across the paints & coatings industry to widen significantly
- High uptake expected across the rubbers & polymers segment, amid extensive application as ozone resistance additives
- The U.S to generate lucrative expansion prospects amid robust chemicals, hydrocarbons, and paints & coatings industries
- Robust aerosols industry to bolster aliphatic solvent uptake across the U.K.
- China to emerge as a dominant market for aliphatic solvents for adhesivesin Asia Pacific
“Surging residential and public infrastructure projects amid rapid urbanization is inclining demand for paints & coatings for key buildings, ultimately providing a boost to solvent uptake, including aliphatic solvents,” remarks a Fact.MR analyst.
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Key Market Segments Covered
- Aliphatic Solvents for Paints & Coatings
- Aliphatic Solvents for Cleaning & Degreasing
- Aliphatic Solvents for Adhesives
- Aliphatic Solvents for Aerosols
- Aliphatic Solvents for Rubbers & Polymers
- Aliphatic Solvents for Printing Inks
- Aliphatic Solvents for Other Application Areas
- North America (U.S and Canada)
- Europe (Germany, U.K, France, Spain, Italy, CIS & Russia and Rest of Europe)
- Asia Pacific (China, Japan, India, ASEAN and Rest of Asia Pacific)
- Latin America (Brazil, Mexico and Rest of Latin America)
- Middle East & Africa (GCC, South Africa and Rest of MEA)
Exxon Mobil Corp., Total S.E., Royal Dutch Shell Plc, RB PRODUCTS INC., Ganga Rasayanie Private Limited, Pon Pure Chemicals Group, Carolina International Sales Company Inc., Gadiv Petrochemical Industries Ltd., HCS Group GmbH, Recochem Inc., and Gulf Chemical and Industrial Oils are some prominent aliphatic solvent manufacturers profiled in Fact.MR’s report.
- Ganga Rasayanie Private Limited, a prominent downstream petroleum and coal tar based feedstock manufacturer in India, offers the GarLAS Aliphatic Solvents in SBP and White Spirits grade, applied across a broad range of industries, including paints & coatings, printing inks and reducers, offset inks and agrochemicals among others
- Likewise, Recochem Inc. offers the low odor VarsolTM paint thinner, suitable for working indoors or in enclosed areas to remove and clean tough stains, grease, grime, dried paint, sap, crayon, wax, glue and sticky residue among others
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