NEW YORK, April 4, 2016 /PRNewswire/ -- The global aliphatic hydrocarbon solvents and thinners market is projected to reach USD 4.5 billion by 2020, at a CAGR of 1.4% between 2015 and 2020. Replacement of turpentine by mineral spirits, high growth in the paints and coatings and pharmaceutical industries and growing penetration in the Asia-Pacific region are the factors driving the growth of the global aliphatic hydrocarbon solvents and thinners market.
Paints & Coatings to be the largest application segment by 2020
The paints & coatings accounts for the largest share in the aliphatic hydrocarbon solvents and thinners market. Increasing number of automotive OEMs and growing machinery and appliances markets are driving the growth of this segment. Also, there is a growing demand for aliphatic hydrocarbon solvents and thinners in the paints & coatings application segment as they evaporate swiftly, thus increasing efficiency of the coating process.
Mineral Spirits continues to be the fastest growing type till 2020
Varnish makers & paints accounts for the largest share in the global aliphatic hydrocarbon solvents and thinners market but considering the cost and economic factors the mineral spirits continues to be the fastest growing type in the global market.
Globally, China dominates the Aliphatic Hydrocarbon Solvents and Thinners Market
Asia-Pacific is the global leader in the consumption of aliphatic hydrocarbon solvents and thinners and is expected to dominate during the forecast period. China and Korea are the major countries in this region, consuming more than 80% of the demand for aliphatic hydrocarbon solvents and thinners in this region. Factors such as increase in total disposable income and rising number of vehicle production YoY are driving the growth of this market in this region.
Break-up of profile of primary participants for the report:
- By Company Type - Tier 1 – 50 %, Tier 2 – 20% and Tier 3 – 25%
- By Designation – C level – 63%, Manager level – 21%, Others – 16%
- By Region – APAC - 40%, Europe – 20%, North America – 10%, RoW – 30%
This study estimates the market size for aliphatic hydrocarbon solvents and thinners during the forecast period (2015 to 2020). As a part of quantitative analysis, the study segments the market by the different application of aliphatic hydrocarbon solvents and thinners at country level, with the current market estimation and forecast till 2020. Major countries covered in this report include China, Japan, Korea, the U.S., Canada, the U.K., Germany, Italy, Latin America, and Middle East & Africa. Similarly, by application this market is classified into paints & coatings, pharmaceutical, adhesives, printing inks, rubber & polymer, agricultural chemicals, and others.
Further, as a part of qualitative analysis, the research provides a comprehensive review of major market drivers, restraints, opportunities, and challenges. It also discusses competitive strategies adopted by different market players, such as Exxonmobil Corporation (U.S.), Royal Dutch Shell PLC (The Netherlands), CPC Corporation (Taiwan), Recochem Inc. (Canada), W.M. Barr & Company, Inc. (U.S.), Noco Energy Corporation (New York), Gotham Industries (Canada), and others.
Reasons to buy this report:
This report covers the following key aspects:
- What will be the market size by 2020 and what will be the growth rate
- What are the key market trends
- What is driving this market
- What are the challenges that impact market growth
- Who are the key players in this market
- Global report covers key regions such as North America, Europe, Asia-Pacific and RoW with their major countries
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