De-Aromatic Solvents Market - Global Size, Share & Industry Trends

Global De-Aromatic Solvents Market Overview

De-Aromatic Solvents Market Size Was Valued at USD 1.57 Billion in 2023 and is Projected to Reach USD 2.31 Billion by 2032, Growing at a CAGR of 4.4% From 2024-2032.

• De-aromatic solvents, also known as de-aromatized solvents, play pivotal roles across multiple industries due to their diverse applications. In the realm of paints, coatings, and varnishes, these solvents act as diluents, aiding viscosity control, facilitating smoother application, and regulating drying times for improved film formation. Their versatility extends to adhesives and sealants, where they adjust viscosity, enhance adhesion, and fine-tune application properties. In industrial settings, these solvents find use in cleaning processes, efficiently degreasing parts, and removing contaminants during equipment maintenance.
• Moreover, their utility extends to printing inks, contributing to ink formulation by managing viscosity, enhancing printability, and regulating drying times. In the agricultural sector, de-aromatized solvents assist in the production of agrochemicals, aiding formulation processes and ensuring desired chemical properties in pesticides and herbicides. Some variants even find application in pharmaceuticals and personal care products like lotions and creams.
• The benefits of using these solvents are extensive. They boast reduced environmental impact by containing lower levels of volatile organic compounds (VOCs), resulting in diminished emissions and a smaller ecological footprint. Their reduction or elimination of toxic aromatic compounds such as benzene, toluene, and xylene enhances workplace safety and decreases health risks associated with exposure to these hazardous substances. Additionally, their milder odor compared to aromatic solvents makes them more pleasant to work with, particularly in settings where odor control is crucial. These solvents also aid industries in complying with stringent environmental and safety regulations while offering versatility and compatibility across a broad spectrum of applications, contributing to enhanced overall performance in various industrial sectors.

De-Aromatic Solvents Market Trend Analysis:

Increasing demand for safer and more environmentally friendly solvents

• The escalating need for safer, environmentally friendly solvents acts as a pivotal force driving the expansion of the de-aromatic solvent market. Industries, spanning diverse sectors, are actively pursuing alternatives to traditional aromatic solvents due to amplified concerns regarding workplace safety and environmental repercussions. De-aromatized solvents emerge as a compelling remedy by notably reducing toxicity levels and volatile organic compounds (VOCs), in line with stringent regulations aimed at mitigating environmental harm.
• This burgeoning demand gains further momentum from the global shift towards sustainable and eco-conscious manufacturing practices. De-aromatic solvents, capable of mitigating health risks linked to exposure to hazardous aromatic compounds like benzene and toluene, are increasingly preferred across industries such as paint, coatings, adhesives, pharmaceuticals, and personal care products. These solvents are chosen to meet regulatory benchmarks and cater to consumer inclinations for safer, more environmentally sound alternatives.
• The surge in demand for de-aromatic solvents is deeply rooted in their inherent advantages. They are lauded for their ability to fortify workplace safety measures, curtail environmental impact, and adhere to rigorous regulatory frameworks. As industries globally place a premium on sustainability and environmentally responsible practices, the trajectory of the de-aromatic solvents market points towards significant growth. This momentum is driven by the essential need for solvents that not only ensure effectiveness but also align with the escalating demand for environmentally conscious solutions across diverse sectors.

Rise of bio-based de-aromatic solvents

• The emergence of bio-based de-aromatic solvents represents a significant opportunity in the linear voltage regulator market as industries lean towards sustainable practices. Derived from renewable sources, these solvents offer an eco-conscious alternative to traditional petroleum-based options, aligning with the global push for eco-friendly solutions and reduced carbon footprints.
• The appeal of bio-based de-aromatic solvents lies in their lower environmental impact, sourced from biomass like plants, vegetable oils, or bio-based chemicals. Despite originating from renewable origins, these solvents maintain similar functionalities to their petroleum-derived counterparts, ensuring compatibility and effectiveness across various applications. Furthermore, their renewable nature and potential for biodegradability position them favorably, especially in sectors seeking to comply with stringent environmental regulations and cater to the increasing demand for sustainable products.
• The rising utilization of bio-based de-aromatic solvents significantly enhances growth prospects within the linear voltage regulators market. Their adoption aligns with broader industry goals, encouraging a shift towards greener technologies and sustainable manufacturing practices. This scenario presents an opportune moment for enterprises to capitalize on the escalating need for environmentally friendly solvents, meeting consumer preferences and regulatory mandates focused on fostering environmental responsibility.

De-Aromatic Solvents Market Segment Analysis:

By Application, Paints, Coatings, and Inks segment is expected to dominate the market during the forecast period.

• In the global market for de-aromatic solvents, the paints, coatings, and inks category holds a significant market share. Because these solvents outperform conventional aromatic solvents in a variety of ways, such as enhanced solubility, adhesion, and faster drying periods, this industry is significantly dependent on them. They are better for the environment due to their reduced VOC emissions and milder odour. De-aromatic solvents are widely employed in architectural, industrial, automotive, and marine coatings, demonstrating their critical importance in this vast sector. They serve a pivotal role across industries.

By Flash Point, Medium Flash Point segment dominates the global de-aromatic solvents market.

• The global de-aromatic solvents market is largely led by the Medium Flash Point segment, showcasing significant dominance. This sector's prominence stems from its distinctive attribute of moderate flash points, striking a balance between stability and volatility. Widely utilized in paints, coatings, adhesives, and cleaning products across diverse industries, these solvents offer controlled evaporation rates and safer handling conditions owing to their medium flash points. Their pervasive application underscores their crucial role and extensive usage in varied industrial sectors.

De-Aromatic Solvents Market Regional Insights:

Asia-Pacific Dominates the Market Over the Forecast period

• The Asia-Pacific region commands the global de-aromatic solvents market due to pivotal factors. This dominance springs from the region's robust industrial landscape, particularly in nations like China, India, Japan, and South Korea. Their rapid urbanization, industrial expansion, and infrastructural projects fuel extensive demand for these solvents, notably in paints, coatings, adhesives, and cleaning products.
• Additionally, the Asia Pacific benefits from a substantial manufacturing base, serving as a hub for industries heavily reliant on de-aromatic solvents. Diverse sectors like automotive, construction, and electronics further intensify solvent consumption. Moreover, the region's heightened focus on environmental regulations and sustainability propels the shift towards safer, eco-friendly solvent options. De-aromatic solvents, marked by their reduced environmental impact and enhanced safety profiles, seamlessly align with these regulatory demands, fostering increased demand across the Asia Pacific.
• Furthermore, economic growth, expanding populations, and rising disposable incomes in the region propel sectors like construction and automotive, subsequently bolstering the demand for de-aromatic solvents. This amalgamation of factors—rapid industrialization, diverse manufacturing sectors, stringent environmental norms, and economic expansion—solidifies the Asia Pacific's dominance in the global de-aromatic solvents market.

Key Players Covered in De-Aromatic Solvents:

• Exxonmobil (USA)
• Calumet Specialty Products Partners, L.P. (USA)
• Shell (Netherlands)
• Neste (Finland)
• DHC Solvent Chemie Gmbh (Germany)
• Cepsa (Spain)
• China Petrochemical Corporation (China)
• China National Petroleum Corporation (China)
• Luoyang Jinda Petrochemistry Industry (China)
• Maomingpetro-Chemicalshihua (China)
• Sinopec (China)
• Petrochina (China)
• Idemitsu Kosan Co., Ltd. (Japan)
• Gandhar Oil Refinery Limited. (India)
• Raj Petro Specialities Pvt. Ltd. (India)
• Eastern Petroleum Pvt. Ltd. (India)
• Avani Petrochem Pvt. Ltd. (India)
• Mehta Petro Refineries Ltd. (India)
• Sk Energy (South Korea)
• Sasol (South Africa), and other Major Players

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power Of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. ANALYSIS OF THE IMPACT OF COVID-19
       1. Impact On The Overall Market
       2. Impact On The Supply Chain
       3. Impact On The Key Manufacturers
       4. Impact On The Pricing
       5. Post COVID Situation
   11. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   12. ECOSYSTEM
6. DE-AROMATIC SOLVENTS MARKET BY APPLICATION (2017-2032)
   1. DE-AROMATIC SOLVENTS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. PAINTS, COATINGS AND INKS
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. METAL WORKING
   5. INDUSTRIAL CLEANING
   6. ADHESIVES AND SEALANTS
   7. DRILLING FLUIDS
   8. CONSUMER PRODUCTS
   9. OTHERS
7. DE-AROMATIC SOLVENTS MARKET BY FLASH POINT (2017-2032)
   1. DE-AROMATIC SOLVENTS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. LOW FLASH POINT
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. MEDIUM FLASH POINT
   5. HIGH FLASH POINT
8. DE-AROMATIC SOLVENTS MARKET BY BOILING POINT (2017-2032)
   1. DE-AROMATIC SOLVENTS MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. TYPE 1 (<1850C)
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017 – 2032F)
      3. Historic And Forecasted Market Size in Volume (2017 – 2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. TYPE 2 (1850C - 2400C)
   5. TYPE 3 (>2400C)
9. COMPANY PROFILES AND COMPETITIVE ANALYSIS
   1. COMPETITIVE LANDSCAPE
      1. Competitive Positioning
      2. De-Aromatic Solvents Market Share By Manufacturer (2023)
      3. Industry BCG Matrix
      4. Heat Map Analysis
      5. Mergers & Acquisitions
   2. EXXONMOBIL (USA)
      1. Company Overview
      2. Key Executives
      3. Company Snapshot
      4. Role of the Company in the Market
      5. Sustainability and Social Responsibility
      6. Operating Business Segments
      7. Product Portfolio
      8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
      9. Key Strategic Moves And Recent Developments
      10. SWOT Analysis
   3. CALUMET SPECIALTY PRODUCTS PARTNERS, L.P. (USA)
   4. SHELL (NETHERLANDS)
   5. NESTE (FINLAND)
   6. DHC SOLVENT CHEMIE GMBH (GERMANY)
   7. CEPSA (SPAIN)
   8. CHINA PETROCHEMICAL CORPORATION (CHINA)
   9. CHINA NATIONAL PETROLEUM CORPORATION (CHINA)
   10. LUOYANG JINDA PETROCHEMISTRY INDUSTRY (CHINA)
   11. MAOMINGPETRO-CHEMICALSHIHUA (CHINA)
   12. SINOPEC (CHINA)
   13. PETROCHINA (CHINA)
   14. IDEMITSU KOSAN CO., LTD. (JAPAN)
   15. GANDHAR OIL REFINERY LIMITED. (INDIA)
   16. RAJ PETRO SPECIALITIES PVT. LTD. (INDIA)
   17. EASTERN PETROLEUM PVT. LTD. (INDIA)
   18. AVANI PETROCHEM PVT. LTD. (INDIA)
   19. MEHTA PETRO REFINERIES LTD. (INDIA)
   20. SK ENERGY (SOUTH KOREA)
   21. SASOL (SOUTH AFRICA)
10. GLOBAL DE-AROMATIC SOLVENTS MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By APPLICATION
       5. Historic And Forecasted Market Size By FLASH POINT
       6. Historic And Forecasted Market Size By BOILING POINT
       7. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Segments
       5. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Segments
       5. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Segments
       5. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Segments
       5. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Impact Of Covid-19
       3. Key Manufacturers
       4. Historic And Forecasted Market Size By Segments
       5. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
11. INVESTMENT ANALYSIS
12. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies