Aliphatic Solvents & Thinners Market

Market Leader - Aliphatic Solvents & Thinners Market

The aliphatic hydrocarbon solvents & thinners market is projected to grow from USD 4.6 billion in 2019 to USD 5.2 billion by 2024, at a CAGR of 2.7% from 2019 to 2024. Increased demand for paints & coatings, which require aliphatic hydrocarbon solvents & thinners, from various end-use industries, such as decorative paints, automotive, industrial, and protective paints & coatings is one of the key factors driving the growth of the aliphatic hydrocarbon solvents & thinners market across the globe.

ExxonMobil Chemical, Inc. (US), SK Global Chemical Co., Ltd. (South Korea), Royal Dutch Shell Plc. (Netherlands), Calumet Specialty Products Partners, L.P. (US), Gotham Industries (Canada), Gulf Chemicals and Industrial Oils Co. (Saudi Arabia), Recochem Inc. (Canada), HCS Group (Germany), W.M. Barr (US), Ganga Rasayanie (P) Ltd (India), NOCO Energy Corporation (US), Gadiv Petrochemical Industries Ltd. (Israel), Hunt Refining Company (US), Honeywell International Inc. (US), BASF SE (Germany), and LyondellBasell Industries Holdings B.V. (Netherlands) are some of the leading players operating in the aliphatic hydrocarbon solvents & thinners market. These players have adopted the acquisitions, partnerships, expansions, and new product developments strategies to enhance their positions in the market.

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In May 2019, Calumet Specialty Product Partners, L.P acquired Biosynthetic Technologies, LLC. The acquisition of Biosynthetic Technologies, LLC and its technological capabilities, is in alignment with Calumet’s Specialty Products’ focused growth strategy. Furthermore, the company also announced opening a new R&D facility in Indianapolis. This development is expected to create synergy to offer a competitive edge in the aliphatic hydrocarbon solvents & thinners market in the North America region.

In March 2017, ExxonMobil Chemical, Inc. announced the expansion of its hydrocarbon fluid asset capacity by 250,000 tons annually in Antwerp, Belgium, Baytown, Texas, and Jurong Island, Singapore. These capacity expansions aided the company in producing a higher volume of hydrocarbon fluids, such as Isopar. This development broadened the portfolio of differentiated hydrocarbon fluids used for adhesive and coating applications.

Related Reports:

Aliphatic Solvents & Thinners Market by Type (Varnish Makers & Painters Naphtha, Mineral Spirit, Hexane, Hepteane), Application (Paints & Coatings, Cleaning & Degreasing, Adhesives, Aerosols, Rubber & Polymer) - Global Forecast to 2024

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Report Code
CH 3980
RI Published ON
7/24/2019
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