Aliphatic Hydrocarbon Solvents & Thinners Market worth $6.81 billion by 2032 - Exclusive Report by MarketsandMarkets™

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Apr 23, 2026, 06:40 ET

DELRAY BEACH, Fla., April 23, 2026 /PRNewswire/ -- According to MarketsandMarkets, "Aliphatic Hydrocarbon Solvents and Thinners Market by Type (Varnish Makers' & Painters' Naphtha, Mineral Spirits, Hexane), Application (Paints & Coatings, Cleaning & Degreasing, Adhesives, Rubbers & Polymers, Aerosols), Region - Global Forecast to 2032", The aliphatic hydrocarbon solvents & thinners market is expected to reach USD 6.81 billion by 2032, from USD 5.26 billion in 2026, with a CAGR of 4.4% during the forecast period.

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Aliphatic Hydrocarbon Solvents & Thinners Market Size & Forecast:

• Market Size Available for Years: 2022-2032
• 2026 Market Size: USD 5.26 billion
• 2032 Projected Market Size: USD 6.81 billion
• CAGR (2026-2032): 4.4%

Aliphatic Hydrocarbon Solvents & Thinners Market Trends & Insights:

The market experiences powerful expansion because the paint and coatings sector needs more products, while construction work, infrastructure projects and industrial and automotive markets show rising demand. The market growth receives additional support from the increasing application of aliphatic solvents, which customers use for cleaning and degreasing and for making adhesives, printing inks and rubber processing. The need for effective hydrocarbon solutions drives companies to develop high-performance solvent products, which results in production capacity expansion across major regions, including Asia-Pacific, North America and Europe.
The Asia Pacific region is estimated to register the highest CAGR of 5.0% during the forecast period.
By type, the hexane segment is projected to grow at the highest CAGR of 4.8% during the forecast period.
By application, the adhesives segment is projected to register the highest CAGR of 4.9% during the forecast period.
ExxonMobil Corporation, Shell plc, Phillips 66, SK Geocentric Co., Ltd., and Calumet, Inc. were identified as some of the leading players in the aliphatic hydrocarbon solvents and thinners market, given their strong market share and product footprint.
MODU Valves A/S and Neway Valve, among others, have become leading startups or SMEs by identifying niche gaps early and delivering solutions that precisely match unmet customer needs. Their agility, faster decision-making, and ability to innovate continuously allow them to outperform larger, less flexible competitors.

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The market shows consistent growth as demand continues to increase across the paint, coatings, adhesives, and industrial cleaning sectors. The construction sector, infrastructure development, and increased vehicle manufacturing are driving greater use of solvent-based products. Various industrial processes require these solvents to achieve optimal formulation results, complete degreasing tasks, and produce top-quality surface finishes. Market demand continues to increase as emerging economies experience manufacturing growth, and applications such as paints & coatings and adhesives drive high demand for aliphatic solvents. The aliphatic hydrocarbon solvents and thinners market will continue to expand because industries require effective and dependable solvent solutions.

By type, the mineral spiritssegment is expected to account for the largest market share, in terms of value, during the forecast period.

The mineral spirits segment in the aliphatic hydrocarbon solvents and thinners market holds a dominant market position because it serves diverse industrial and commercial needs across sectors. Paints and coatings use these solvents because they help control viscosity and improve application properties, leading to consistent, smooth finishes. The maintenance and industrial processes use these products because they effectively remove dirt and oil from surfaces. Mineral spirits are useful because they evaporate at a consistent rate and work well with various chemical mixtures. The construction sector, together with the automotive industry and the broader manufacturing sector, drives the increasing use. The product's ability to perform multiple functions at low cost drives high market demand.

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By application, the adhesives segment is projected to register the highest growth in the aliphatic hydrocarbon solvents and thinners market, in terms of value, during the forecast period.

The adhesives segment in the aliphatic hydrocarbon solvents and thinners market is witnessing high growth due to rising demand for efficient bonding solutions across various industries. The solvents serve a dual purpose in adhesive manufacturing as they function to control adhesive viscosity while enabling smooth adhesive application and providing consistent adhesive distribution. The packaging, construction, and automotive industries are increasing their use of adhesives, which leads to higher adhesive consumption. The demand for dependable solvent solutions is increasing because of the trend toward lightweight materials and new bonding methods. The expanding industrial base in developing regions, combined with rising manufacturing activities, creates more demand for products. Aliphatic solvents help improve formulation performance and application efficiency, thereby driving growth in this product category.

Asia Pacific is projected to account for the largest market share in terms of value during the forecast period.

The Asia Pacific region holds the largest market share in the aliphatic hydrocarbon solvents and thinners market because its industrial base drives high consumption across essential industries. Countries such as China, India, Japan, and South Korea together make a major contribution through their growing manufacturing and processing sectors. Solvent consumption in the region increases because construction activities and paint and coating products experience higher demand. The existing petrochemical facilities provide both a consistent supply of raw materials and extensive manufacturing capacity. The market will continue to be dominated by the region because of its ongoing urban development and economic growth.

Kay Players

Some of the leading players in this market include ExxonMobil Corporation (US), Shell plc (UK), Phillips 66 (US), SK Geocentric Co., Ltd. (South Korea), and Calumet, Inc. (US) and others.

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