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Aliphatic Hydrocarbon Solvents & Thinners Market: By Type ), By Application ) and Geography
Aliphatic Hydrocarbon Solvents & Thinners Market: By Type ), By Application ) and Geography
Aliphatic Hydrocarbon Solvents And Thinners Market size was valued at US$ 4,285.4 million in 2023 and is anticipated to grow at a CAGR of 4.4 % over 2024-2030. Aliphatic hydrocarbon solvents and thinners are chemical compounds derived from petroleum hydrocarbons. They belong to a class of organic compounds known as aliphatic hydrocarbons, which are characterized by their straight-chain or branched carbon structures. These solvents and thinners are commonly used in various industrial applications due to their ability to dissolve, disperse, or dilute other substances. They are known for their relatively low toxicity and versatile properties. Construction and infrastructure development play a significant role in driving the aliphatic hydrocarbon solvents and thinners market. These solvents are essential components in various stages of construction and infrastructure projects. They are used in the formulation of paints, coatings, adhesives, and sealants that protect surfaces, enhance aesthetics, and provide durability against environmental factors. For example, aliphatic solvents are integral to the preparation and application of protective coatings on buildings, bridges, roads, and other infrastructure elements.
Moreover, the rising demand in the automotive industry has a substantial impact on increasing the sale of aliphatic hydrocarbon solvents and thinners. These solvents are essential components in the production of automotive paints, coatings, and related products. As the automotive sector experiences growth, driven by factors such as increasing vehicle production, consumer preferences for aesthetic customization, and the need for protective coatings, the demand for aliphatic solvents rises in tandem. However, some aliphatic solvents may have associated health risks, such as skin or respiratory irritation. Hence, the adoption of less toxic solvents due to health and safety concerns may hinder the growth of the aliphatic hydrocarbon solvents and thinners market. Meanwhile, global industrial growth and manufacturing activities create significant opportunities for the development of the aliphatic hydrocarbon solvents and thinners market. Market players are launching new products, forming partnerships, and making acquisitions to meet increasing demand from end-use industries. For instance, in July 2019, Braskem developed its new biobased oxygenated solvent, HE-70S, which features lower toxicity and greater solvency power compared to traditional hydrocarbon solvents.
Study Period
2024-2030Base Year
2023CAGR
4.40%Largest Market
Asia PacificFastest Growing Market
North America
Some of the key factors influencing the market growth include growing demand for aliphatic hydrocarbon solvents & thinners as it a crucial coating and painting from the protection of numerous compounds by various undesirable conditions such as rust, UV radiations & abrasion. Additionally, an increase in acceptance of aliphatic hydrocarbon solvents & thinners as it less harmful for the environment, increase the shelf life of the end products and rising in the manufacturing industries will further boost the market growth in the forecast period. However, volatile prices of aliphatic hydrocarbon solvents & thinners and quality benchmark establishment are the major factors hindering the market growth.
Asia Pacific accounted for larger revenue share in global aliphatic hydrocarbon solvents & thinners market with considerable CAGR. The growth in this region can be attributed to rising demand for ecofriendly products and emerging economies. Also, rising awareness among European customers about the insulation properties and increasing manufacturing industries in this region is the other important factor responsible for the market growth. North America held significant market share during estimated period as the rapid growing manufacturing industries, strict regulation for environment protection, and key manufacturers are adopting various strategies for the expansion are of the market in the region.
Latin America
Europe
Asia Pacific
Middle East
North America
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Report Benchmarks |
Details |
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Report Study Period |
2024-2030 |
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Market Size in 2023 |
US$ 4,285.4 million |
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Market CAGR |
4.40% |
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By Type |
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By Application |
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By Region |
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Increasing industrialization and rising government initiatives for sustainable solvent solutions are some of the key opportunities for companies to enhance their revenue over the forecast years.
Development of the bio-based solvent solutions is one of the major trends in the aliphatic hydrocarbon solvents and thinners market.
The aliphatic hydrocarbon solvents and thinners market size was valued at US$ 4,285.4 million in 2022
| 1.Executive Summary |
| 2.Global Aliphatic Hydrocarbon Solvents and Thinners Market Introduction |
| 2.1.Global Aliphatic Hydrocarbon Solvents and Thinners Market - Taxonomy |
| 2.2.Global Aliphatic Hydrocarbon Solvents and Thinners Market - Definitions |
| 2.2.1. By Type |
| 2.2.2. By Application |
| 2.2.3. By Region |
| 3.Global Aliphatic Hydrocarbon Solvents and Thinners Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Aliphatic Hydrocarbon Solvents and Thinners Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Aliphatic Hydrocarbon Solvents and Thinners Market By Type , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Heptane |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Hexane |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Mineral Spirits |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Varnish Makers & Painters Naphtha |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 5.5. Others (Paraffinic Solvent, Pentane, and Solvent 140) |
| 5.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.5.3. Market Opportunity Analysis |
| 6.Global Aliphatic Hydrocarbon Solvents and Thinners Market By Application, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Adhesives |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Aerosols |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Cleaning & Degreasing |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Paints & Coatings |
| 6.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Printing inks |
| 6.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 6.6. Rubbers & polymers |
| 6.6.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.6.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.6.3. Market Opportunity Analysis |
| 6.7. Others (Agrochemicals, Pharmaceuticals, and Automotive)) |
| 6.7.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.7.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.7.3. Market Opportunity Analysis |
| 7.Global Aliphatic Hydrocarbon Solvents and Thinners Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.North America Aliphatic Hydrocarbon Solvents and Thinners Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Type Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Heptane |
| 8.1.2.Hexane |
| 8.1.3.Mineral Spirits |
| 8.1.4.Varnish Makers & Painters Naphtha |
| 8.1.5.Others (Paraffinic Solvent, Pentane, and Solvent 140) |
| 8.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Adhesives |
| 8.2.2.Aerosols |
| 8.2.3.Cleaning & Degreasing |
| 8.2.4.Paints & Coatings |
| 8.2.5.Printing inks |
| 8.2.6.Rubbers & polymers |
| 8.2.7.Others (Agrochemicals, Pharmaceuticals, and Automotive)) |
| 8.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9.Europe Aliphatic Hydrocarbon Solvents and Thinners Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Heptane |
| 9.1.2.Hexane |
| 9.1.3.Mineral Spirits |
| 9.1.4.Varnish Makers & Painters Naphtha |
| 9.1.5.Others (Paraffinic Solvent, Pentane, and Solvent 140) |
| 9.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Adhesives |
| 9.2.2.Aerosols |
| 9.2.3.Cleaning & Degreasing |
| 9.2.4.Paints & Coatings |
| 9.2.5.Printing inks |
| 9.2.6.Rubbers & polymers |
| 9.2.7.Others (Agrochemicals, Pharmaceuticals, and Automotive)) |
| 9.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 9.3.6.Rest of EU |
| 10.Asia Pacific (APAC) Aliphatic Hydrocarbon Solvents and Thinners Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Heptane |
| 10.1.2.Hexane |
| 10.1.3.Mineral Spirits |
| 10.1.4.Varnish Makers & Painters Naphtha |
| 10.1.5.Others (Paraffinic Solvent, Pentane, and Solvent 140) |
| 10.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Adhesives |
| 10.2.2.Aerosols |
| 10.2.3.Cleaning & Degreasing |
| 10.2.4.Paints & Coatings |
| 10.2.5.Printing inks |
| 10.2.6.Rubbers & polymers |
| 10.2.7.Others (Agrochemicals, Pharmaceuticals, and Automotive)) |
| 10.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11.Middle East and Africa (MEA) Aliphatic Hydrocarbon Solvents and Thinners Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Heptane |
| 11.1.2.Hexane |
| 11.1.3.Mineral Spirits |
| 11.1.4.Varnish Makers & Painters Naphtha |
| 11.1.5.Others (Paraffinic Solvent, Pentane, and Solvent 140) |
| 11.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Adhesives |
| 11.2.2.Aerosols |
| 11.2.3.Cleaning & Degreasing |
| 11.2.4.Paints & Coatings |
| 11.2.5.Printing inks |
| 11.2.6.Rubbers & polymers |
| 11.2.7.Others (Agrochemicals, Pharmaceuticals, and Automotive)) |
| 11.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12.Latin America Aliphatic Hydrocarbon Solvents and Thinners Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Heptane |
| 12.1.2.Hexane |
| 12.1.3.Mineral Spirits |
| 12.1.4.Varnish Makers & Painters Naphtha |
| 12.1.5.Others (Paraffinic Solvent, Pentane, and Solvent 140) |
| 12.2. Application Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Adhesives |
| 12.2.2.Aerosols |
| 12.2.3.Cleaning & Degreasing |
| 12.2.4.Paints & Coatings |
| 12.2.5.Printing inks |
| 12.2.6.Rubbers & polymers |
| 12.2.7.Others (Agrochemicals, Pharmaceuticals, and Automotive)) |
| 12.3. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.BASF SE (Germany) |
| 13.2.2.Calumet Specialty Products Partners, L.P. (US) |
| 13.2.3.ExxonMobil Chemical, Inc. (US) |
| 13.2.4.Gadiv Petrochemical Industries Ltd. (Israel) |
| 13.2.5.Ganga Rasayanie (P) Ltd (India) |
| 13.2.6.Gotham Industries (Canada) |
| 13.2.7.HCS Group (Germany) |
| 13.2.8.Honeywell International Inc. (US) |
| 13.2.9.Hunt Refining Company (US) |
| 13.2.10.LyondellBasell Industries Holdings B.V. (Netherlands) |
| 13.2.11.NOCO Energy Corporation (US) |
| 13.2.12.Recochem Inc. (Canada) |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
Key Market Players
Author
Prem Kumar with profound experience and sound knowledge across a wide range of market forecasting methods, demand forecasting, and pricing analysis, I am able to make precise projections. I have extensive practical knowledge in Time Series Analysis (TSA), Simple Linear Regression (SLR), Multiple Linear Regression (MLR), Seasonality & Trend Forecasting, and Forecasting Models for New Products, among others. Additionally, I have hands-on experience with tools such as Power BI and SQL. I am highly committed, self-motivated, and possess a strong entrepreneurial spirit. Over the past 8 years, my team and I have built a robust clientele in various sectors, including Packaging, Pharma, Medical Devices, Oil & Gas, and Chemicals & Materials. We have provided a wide range of services, from management consulting to market forecasting and survey-related projects. I am particularly proud to have provided consulting services to one of the industry’s leading COVID-19 vaccine manufacturers for a packaging-related project. In the packaging space, I have served clients across a range of segments, including packaging printing, consumer packaging, flexible packaging, rigid packaging, and pharmaceutical packaging, to name a few. I deeply appreciate the efforts of my team and am grateful to our clients for their continued trust.