LONDON, Jan. 30, 2017 /PRNewswire/ --
"The global aliphatic hydrocarbon solvents & thinners market is projected to grow at a CAGR of 2.5% from 2016 to 2026"
The global aliphatic hydrocarbon solvents & thinners market was valued at USD 4.12 billion in 2015 and is projected to reach USD 5.41 billion by 2026, at a CAGR of 2.5% from 2016 to 2026. Replacement of turpentine by mineral spirits, high growth in the paints & coatings industry, and growing penetration of aliphatic hydrocarbon solvents & thinners in the Asia-Pacific region are the factors projected to drive the growth of the market in the near future. The booming construction industry and the economies in the Middle East region are some of the untapped opportunities for the aliphatic hydrocarbon solvents & thinners industry.
"Varnish makers & paints naphtha is the largest type segment of the global aliphatic hydrocarbon solvents & thinners market"
The varnish makers & paints naphtha segment contributed the largest share in 2015 and is projected to be the largest segment in the aliphatic hydrocarbon solvents & thinners market, by type, from 2016 to 2026. The properties of varnish makers & painter's naptha make it a preferred solvent for various end-user industries, majorly the paints & coatings industry.
"Paints & coatings application is the fastest-growing application in the global aliphatic hydrocarbon solvents & thinners market during the forecast period"
The paints & coatings segment is the fastest-growing application segment of the global aliphatic hydrocarbon solvents & thinners market. High demand of paints & coatings from industries such as automotive, building & construction, and others have boosted the demand of aliphatic hydrocarbon solvents & thinners due to their versatile properties.
"Asia-Pacific is estimated to be the fastest-growing regional aliphatic hydrocarbon solvents & thinners market followed by Middle East & Africa during the forecast period"
Asia-Pacific and Middle East & Africa are estimated to be the fastest-growing regional aliphatic hydrocarbon solvents & thinners market during the forecast period of 2016 and 2026. Large infrastructure projects and growth of the paints & coatings industry in these regions are boosting the growth of the aliphatic hydrocarbon solvents & thinners market in these regions.
Profile break-up of primary participants for the report:
- By Company Type: Tier 1 – 31 %, Tier 2 – 46%, Tier 3 – 23%
- By Designation: C level – 50%, Manager level – 30%, Others – 20%
By Region: Asia-Pacific – 38%, Europe – 26%, North America – 18%, Middle East & Africa- 12%, Latin America – 6%
*Others includes sales, marketing, and product managers
Furthermore, as a part of qualitative analysis, the research provides a comprehensive review of the major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players, such as ExxonMobil Chemical (U.S.), SK Global Chemical Co. Ltd. (South Korea), Royal Dutch Shell Plc (Netherlands), and Calumet Specialty Products Partners (U.S.), among others.
The report defines, segments, and projects the global aliphatic hydrocarbon solvents & thinners market on the basis of type, application, and region. It provides detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, opportunities, and industry-specific challenges. It also strategically profiles key players and comprehensively analyzes their market share and core competencies and tracks and analyzes competitive developments such as partnerships, contracts, and joint ventures; mergers & acquisitions; expansions; new product launches; and research & development activities in the market.
Reasons to buy the report:
The report will help the market leaders/new entrants in this market by providing them the closest approximations of the revenue numbers for the overall aliphatic hydrocarbon solvents & thinners market and the subsegments. This report will help stakeholders to better understand the competitor landscape and gain more insights to better position their businesses and make suitable go-to-market strategies. The report also helps the stakeholders to understand the pulse of the market and provides them information on key market drivers, restraints, challenges, and opportunities.
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