The rise in demand for aliphatic solvents in various applications such as paints & coatings, and rubber manufacturing is expected to drive market growth in coming Years

Rockville , Nov. 02, 2023 (GLOBE NEWSWIRE) -- As per Fact.MR, a provider of market research and competitive intelligence, the global aliphatic solvents market is expected to witness a CAGR of 5% and will likely reach a value of US $3.4 Bn by the end of 2033.

Aliphatic solvents are chemicals that are derived from petroleum known for their ability to dissolve various substances. Firstly, these solvents have a lower environmental impact with fewer harmful emissions, making them better for the planet. Moreover, these are also less toxic, ensuring safer handling for workers. Additionally, aliphatic solvents are versatile, able to dissolve a wide range of materials, and they have a milder odor compared to some alternatives.

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Moreover, market expansion is primarily driven by increasing environmental regulations and a growing emphasis on sustainability. Moreover, aliphatic solvents are being used in various industries such as automotive, building & construction, and oil & gas industries. Moreover, the demand for eco-friendly and low-VOC solvents is rising as industries seek to reduce their environmental footprint.

Fluctuations in petroleum prices act as a barrier to the growth of the market. When petroleum prices go up, it costs more to make aliphatic solvents, affecting manufacturer profits. However, growing environmental awareness and consumer preferences for sustainable products are driving the demand for bio-based solvents. This shift presents a challenge for the traditional market, requiring adaptation and innovation to remain relevant.

Report Attribute	Details
Value Projection (2033)	US$ 3.4 Billion
Growth Rate (2023-2033)	5.0% CAGR
No. of pages	170 Pages
No. of Tables	56 Tables
No. of Figures	54 Figures

Key Takeaways:

• As per the application, paints & coatings applications account for the highest demand. Around 50% of the aliphatic solvents are commonly utilized in the manufacturing process of paints and coatings of construction & automobile purposes.
  • Aliphatic solvents in paints and coatings are anticipated to grow at a CAGR of 5.4% during the forecast period.
• As per region, the Asia Pacific region currently accounts for the majority of the demand. Moreover, China is the biggest manufacturer of automobiles, and the aliphatic solvent market in China is expected to witness a CAGR of 5.9% during the forecast period.
  
  

Increasing demand for environmentally-friendly and low-VOC solvents, their versatility and compatibility with various applications such as coatings and adhesives, along with other benefits such as lower toxicity, milder odor, and cost-effectiveness compared to other alternatives are driving the market growth - Says FACTMR Expert

Market Competition

In this intensely competitive market, major industry players are strategically utilizing both organic and inorganic strategies to expand their presence in lucrative sectors. Notable market leaders encompass ExxonMobil Chemical, Inc., Royal Dutch Shell Plc, Gotham Industries, Recochem Inc., and W.M. Key players in the market follow various strategies such as the introduction of new products, joint ventures, acquisitions, and development of domestic and international distribution networks.

Winning strategies

• Leading players in the market should offer customized blending services to meet the specific needs of customers. This means creating unique solvent formulations tailored to the requirements of different industries and applications. Moreover, Key companies should focus on specific industries like pharmaceuticals, electronics, or aerospace, where aliphatic solvents are crucial. This means tailoring products and services to meet the unique needs of these specialized sectors.
• Also, one of the winning strategies is to use advanced distillation and purification technologies. These techniques help achieve very high levels of purity, which is crucial for demanding applications in industries like pharmaceuticals, electronics, and aerospace.

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Country-wise Insights

Why is the aliphatic solvent market in the United States so large?

With 15% of the world's total chemical production, the United States is one of the top producers. It also ranks among the leading exporters of hydrocarbons worldwide.

The US's high oil and gas production offers advantageous conditions for the synthesis of aliphatic solvents. This is where most businesses have grouped their manufacturing sites to suit the increasing demand from around the world.

Because aliphatic solvents are so widely used in cleaning, degreasing, and printing ink applications, the United States continues to be a major contributor to the growth of the aliphatic solvents market.

With a 5.2% compound annual growth rate, the aliphatic solvents market in the United States is expected to grow.

Explore More Related Studies Published by Fact.MR Research: 

Hydrocarbon Solvents Market: The global hydrocarbon solvents market is valued at US$ 6.60 billion in 2023 and is predicted to expand at a CAGR of 4.1% to reach US$ 9.87 billion by the end of 2033.

Aprotic Solvents Market: The global aprotic solvents market is projected to increase from a valuation of US$ 18.15 billion in 2021 to US$ 28.18 billion by 2032.

De-aromatic Solvents Market: The global de-aromatic solvents market is anticipated to reach a valuation of US$ 2.2 billion in 2023 and further expand at a CAGR of 6.2% to reach US$ 4.0 billion by the end of 2033.

About Fact.MR:

Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.

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