De-Aromatic Solvents Market, By Type, By Application, By Geography

Description

The global de-aromatic solvents market is estimated to be valued at USD 2.34 Bn in 2024 and is expected to reach USD 3.64 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 6.5% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 2.34 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	6.50%	2031 Value Projection:	US$ 3.64 Bn

Figure. De-Aromatic Solvents Market Share (%), By Region, 2024

The global de-aromatic solvents market has been growing significantly over the past decade due to rising demand from various end-use industries including paints & coatings, adhesive & sealants, and polymer & rubbers, among others. De-aromatic solvents are refined petroleum products that are free from aromatics and possess excellent solvent properties. They provide superior compatibility along with low evaporation rate and odor as compared to conventional solvents. Furthermore, stringent regulations regarding VOC emissions have further propelled the demand for these environment-friendly solvents across the globe. The paints & coatings industry accounted for the largest share of the global de-aromatic solvents market in 2021 owing to increasing applications of de-aromatic solvents as thinners in various coatings. Asia Pacific emerged as the highest revenue generating region representing over 35% share of the total market revenue in 2021.

Market Dynamics:

The global de-aromatic solvents market is primarily driven by rising demand from the paints & coatings industry and stringent environmental regulations regarding VOC emissions. Rapid industrialization and infrastructural development activities across emerging economies of Asia Pacific and Latin America have augmented the consumption of paints & coatings which, in turn, has boosted the demand for de-aromatic solvents. However, volatile raw material prices remain a key challenge for market players due to dependency on crude oil. Furthermore, availability of cheap substitutes such as conventional aromatic based solvents can threaten the growth of de-aromatic solvents market. On the brighter side, increasing R&D investments for developing bio-based and eco-friendly solvents present lucrative opportunities for manufacturers over the forecast period.

Key Features of the Study:

This report provides in-depth analysis of the global de-aromatic solvents market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year
It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
It profiles key players in the global de-aromatic solvents market based on the following parameters - company highlights, products portfolio, key highlights, financial performance, and strategies
Key companies covered as a part of this study include ExxonMobil Chemical Company, Shell Chemicals, TotalEnergies, SABIC, Chevron Phillips Chemical Company, Huntsman Corporation, LyondellBasell Industries, INEOS Group, Evonik Industries, Eastman Chemical Company, BASF SE, Repsol, Mitsubishi Chemical Holdings, Delek US Holdings, Clariant AG, Solvay S.A., Fuchs Petrolub SE, Oxea GmbH, Cepsa, and Kraton Corporation
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
The global de-aromatic solvents market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global de-aromatic solvents market

Detailed Segmentation-

Type Insights (Revenue, USD Bn, 2019 - 2031)
- Aliphatic Solvents
- Cycloaliphatic Solvents
- Other Types
Application Insights (Revenue, USD Bn, 2019 - 2031)
- Paints and Coatings
- Adhesives
- Cleaning Agents
- Printing Inks
- Others
Regional Insights (Revenue, USD Tn, 2019 - 2031)
- North America
- U.S.
- Canada
- Latin America
- Brazil
- Argentina
- Mexico
- Rest of Latin America
- Europe
- Germany
- U.K.
- Spain
- France
- Italy
- Russia
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- ASEAN
- Rest of Asia Pacific
- Middle East
- GCC Countries
- Israel
- Rest of Middle East
- Africa
- South Africa
- North Africa
Key Players Insights
- ExxonMobil Chemical Company
- Shell Chemicals
- TotalEnergies
- SABIC
- Chevron Phillips Chemical Company
- Huntsman Corporation
- LyondellBasell Industries
- INEOS Group
- Evonik Industries
- Eastman Chemical Company
- BASF SE
- Repsol
- Mitsubishi Chemical Holdings
- Delek US Holdings
- Clariant AG
- Solvay S.A.
- Fuchs Petrolub SE
- Oxea GmbH
- Cepsa
- Kraton Corporation

Product Code: CMI3577

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Type
- Market Snippet, By Application
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
- PEST Analysis
- PORTER's Five Forces Analysis
- Market Opportunities
- Regulatory Scenario
- Key Developments
- Industry Trend

4. Global De-Aromatic Solvents Market - Impact of Coronavirus (COVID-19) Pandemic

Overview
Factors Affecting the Global De-Aromatic Solvents Market - COVID-19
Impact Analysis

5. Global De-Aromatic Solvents Market, By Type, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Aliphatic Solvents
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Cycloaliphatic Solvents
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Other Types
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends

6. Global De-Aromatic Solvents Market, By Application, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2020 - 2031
- Segment Trends
Paints and Coatings
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Adhesives
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Cleaning Agents
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Printing Inks
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Others
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends

7. Global De-Aromatic Solvents Market, By Region, 2019-2031 (US$ Bn)

Introduction
- Market Share Analysis, By Region, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
North America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn)
- Countries
  - U.S.
  - Canada
Latin America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn)
- Countries
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
Europe
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn)
- Countries
  - U.K.
  - Germany
  - Italy
  - France
  - Spain
  - Russia
  - Rest of Europe
Asia Pacific
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn)
- Countries
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
Middle East
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn)
- Sub-regions/Countries
  - GCC Countries
  - Israel
  - Rest of Middle East
Africa
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2020 - 2031
- Market Size and Forecast, By Type, 2019- 2031 (US$ Bn)
- Market Size and Forecast, By Application, 2019- 2031 (US$ Bn)
- Regions/Countries
  - South Africa
  - North Africa
  - Central Africa

8. Competitive Landscape

Heat Map Analysis
Market Share Analysis (3x3 Matrix)
Company Profiles
- ExxonMobil Chemical Company
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- Shell Chemicals
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- TotalEnergies
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- SABIC
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- Chevron Phillips Chemical Company
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- Huntsman Corporation
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- LyondellBasell Industries
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- INEOS Group
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- Evonik Industries
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- Eastman Chemical Company
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- BASF SE
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- Repsol
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- Mitsubishi Chemical Holdings
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- Delek US Holdings
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- Clariant AG
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- Solvay S.A.
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- Fuchs Petrolub SE
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- Oxea GmbH
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- Cepsa
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates
- Kraton Corporation
  - Company Overview
  - Type Portfolio
  - Recent Developments/Updates

9. Analyst Recommendation

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Section

References
Research Methodology
About Us and Sales Contact
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