Special Boiling Points Solvents Market to Grow at a CAGR of 3.2% to reach US$ 1,537.68 Mn Million from 2020 to 2027

The special boiling points solvents market is expected to grow from US$ 1,209.57 million in 2019 to US$ 1,537.68 million by 2027; it is estimated to grow at a CAGR of 3.2% from 2020 to 2027.

The increasing consumption of paints & coatings in the construction, automotive, wood, and general industries application sectors has raised the demand for special boiling point (SBP) solvents. SBP solvents are versatile group of fast to medium evaporating hydrocarbon fluids that constitute paraffin and cycloparaffins. These aliphatic solvents are majorly used in paints & coatings industry. These solvents act like a carriers for resins, pigments, and other components. They help in controlling viscosity, aiding film formation, and wetting pigments and substrates that help with dispersion and adhesion. These solvents also tend to migrate to the surface of a coating, thereby lowering the surface tension and making the surface more homogeneous. This action of (SBP) solvents improves levelling and reduces the tendency to form craters. Rapid expansion of global construction industry will support the growth of the paints & coatings market. Paints & coatings are used for decoration and protection of buildings and infrastructures from external damages. Due to various properties such as corrosion protection, anti-friction, hardness and reflection-absorption they are also used to protect automotive components. Apart from this, paints & coatings find vast applications in transportation and wood and metal industry, which further supports the demand of the special boiling point solvent product. Steady and continuous growth in these sectors have propelled the demand of SBP solvents.

In 2019, Asia Pacific contributed to the largest share in the global special boiling points solvents market. The growth of the special boiling points solvents market in this region is primarily attributed to steady and continuous expansion of end use industries such as paints & coatings, printing inks, rubber & tires, and adhesives. Countries such as Australia, Japan, India, China, South Korea, Singapore, Taiwan, and Indonesia have large manufacturing industries in a diverse sector such as chemical, construction, automotive, and electronics, which has experienced a huge shift over the years. Production expenditure in the region has increased significantly over the last few years due to rapid industrialization and is expected to increase at the highest estimated growth rate, which is likely to offer lucrative business opportunities for special boiling points solvents market.

The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of January 2021, the US, Brazil, India, Russia, Spain, and the UK are among the worst affected countries in terms of confirmed cases and reported deaths. The pandemic is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemical and material is one of the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. Although, China is the global manufacturing hub and the largest raw material supplier for various industries, it is also one of the worst affected countries. The lockdown of various plants and factories in China is disrupting the global supply chains and hindering the manufacturing activities, delivery schedules, and various materials sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaborations and partnerships opportunities. All these factors are hindering the industries, thus acting as restraining factors for the growth of various markets related to this industry.

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Special Boiling Points Solvents Market: Strategic Insights

Special Boiling Points Solvents Market

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  CAGR (2019 - 2027)

  3.2%
• Market Size 2019
  US$ 1.21 Billion
• Market Size 2027
  US$ 1.54 Billion

Market Dynamics

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FUTURE TRENDS

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OPPORTUNITIES

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Key Players

• Royal Dutch Shell Plc
• Exxon Mobil Corporation
• Total SA
• Bharat Petroleum Corporation Limited
• Brenntag Holding GMBH
• Calumet Specialty Products Partners L P
• Gulf Chemicals and Industrial Oils Co
• HCS Group GMBH
• KH Chemicals

Regional Overview

• North America
• Europe
• Asia-Pacific
• South and Central America
• Middle East and Africa

Market Segmentation

Solvent Base

• Petroleum Ether
• Rubber Solvent

Application

• Paints and Coatings
• Rubbers and Tires
• Inks
• Adhesives
• Resins
• Cleaning Agents

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Market Insights

Rising Demand from Rubber Processing Industry

Rubber is treated by utilizing several types of chemicals to produce useful products such as rubber mats and automobile tires. Rubber processing chemicals include a broad range of products including anti-degradants, accelerators, and processing aids. SBP solvents play a crucial role in rubber processing. It helps to enhance the properties of rubber for its use in manufacturing of automobile tires. Hence, the increasing automobile industry is expected to increase the adoption rate of SBP solvents for rubber processing chemicals segment. Additionally, increasing technical advancements in the manufacture of automotive tires is additional factor boosting the adoption of SBP solvents for rubber processing market. SBP solvents does not only add qualities to rubber but also advances the overall manufacturing procedure of raw material for other applications including manufacturing of door mats. Though, factors such as growing environmental norms and strict governmental regulations are expected to hamper the adoption of rubber processing chemicals, rubber manufacturers are adapting to diverse chemical formulations to accomplish specific requirements of numerous end-use industries.

Solvent Base Insights

Based on Solvent Base, the global special boiling points solvents market is sub-segmented into petroleum ether, rubber solvent, and others. In 2019, the others segment dominated the market by accounting for 41.9% of the total market share. Other types of special boiling point solvents used are P-series/propylene-based glycol ethers, toluene, propylene glycol, mixed xylenes, and VM&P Naphtha. VM&P Naphtha (Varnish Maker and Painters Solvent) is an aliphatic hydrocarbon solvent with a medium boiling point and evaporation rate. It is an exceptional thinner for oil-based paints, stains, varnishes, and enamels, which has higher strength and a faster evaporation rate than thinner paint (100% mineral spirits). It is also a quick-drying thinner for brushing and spraying, which is suitable for cleaning after painting.

A few key players operating in the special boiling points solvents market are Royal Dutch Shell Plc, Exxon Mobil Corporation, Total SA, Bharat Petroleum Corporation Limited, Brenntag Holding GMBH, Calumet Specialty Products Partners, L.P., Gulf Chemicals and Industrial Oils Co., HCS Group GMBH, KH Chemicals, and The MGT PetrOil group. These companies provide a wide range of product portfolio for special boiling points solvents market. They also have their presence in the developing regions, which provides lucrative opportunities for the growth of the special boiling points solvents markets market.

Special Boiling Points Solvents Market Report Scope

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Report Spotlights 

• Progressive industry trends in the global special boiling points solvents market to help players develop effective long-term strategies
• Business growth strategies adopted by developed and developing markets
• Quantitative analysis of the market from 2017 to 2027
• Estimation of the demand for the special boiling points solvents market across various industries
• PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
• Recent developments to understand the competitive market scenario and the demand for the special boiling points solvents market
• Market trends and outlook coupled with factors driving and restraining the growth of the special boiling points solvents market
• Decision-making process by understanding strategies that underpin commercial interest with regard to the growth of the special boiling points solvents market

• Special boiling points solvents market size at various nodes of market
• Detailed overview and segmentation of the global special boiling points solvents market as well as its dynamics in the industry
• Special boiling points solvents market size in various regions with promising growth opportunities

Special Boiling Points Solvents Market, bySolvent Base

• Petroleum Ether
• Rubber Solvent
• Others

Special Boiling Points Solvents Market, by Application

• Paints and Coatings
• Rubbers and Tires
• Inks
• Adhesives
• Resins
• Cleaning Agents
• Others

Company Profiles

• Royal Dutch Shell Plc
• Exxon Mobil Corporation
• Total SA
• Bharat Petroleum Corporation Limited
• Brenntag Holding GMBH
• Calumet Specialty Products Partners, L.P.
• Gulf Chemicals and Industrial Oils Co.
• HCS Group GMBH
• KH Chemicals
• The MGT PetrOil group