PUBLISHER: Grand View Research | PRODUCT CODE: 1530111
PUBLISHER: Grand View Research | PRODUCT CODE: 1530111
Aliphatic Hydrocarbon Market Size & Trends
The global aliphatic hydrocarbon market size was estimated at USD 3,960 million in 2023 and is expected to grow at a CAGR of 4.8% from 2024 to 2030. The growth can be attributed to the increasing product demand in different applications including paints & coatings, aerosol, oil & gas, adhesive & sealants, mining and water treatment. The global demand for aliphatic hydrocarbon has surged in recent years due to increased global automobile production and sales. This product is predominantly used in large quantities for manufacturing lubricants and solvents in the automotive industry. According to the International Organization of Motor Vehicle Manufacturers (OICA), the production of cars and commercial vehicles rose by 16.72% in 2023 compared to the production levels in 2021.
Aliphatic hydrocarbons constitute a significant portion of crude oil. These molecules are characterized by their linear or branched open-chain structures, including n-alkanes, isoalkanes, cycloalkanes (naphthenes), terpenes, and steranes. Aliphatic hydrocarbons can be saturated or unsaturated with double carbon bonds. They are primarily obtained through processes such as distillation, cracking, and refining crude oil, targeting specific boiling point fractions.
Increasing the focus on renewable energy sources and sustainability is driving the demand away from fossil fuels, negatively impacting the product market. In addition, stringent environmental regulations and laws aim to reduce the pollution and emissions caused by hydrocarbon production and use. Compliance with these regulations can increase the operational costs.
Bio-based aliphatic hydrocarbons originate from renewable sources like plant oils, biomass, and microorganisms. In contrast to conventional petroleum-derived counterparts, these alternatives offer several benefits such as reduced carbon footprint, biodegradability, and lesser environmental impact. Companies like AkzoNobel have developed eco-friendly coatings using these aliphatic hydrocarbons, aiming to surpass
Global Aliphatic Hydrocarbon Market Report Segmentation
This report forecasts revenue & volume growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global aliphatic hydrocarbon Market report based on product, application & region.