Global De-Aromatic Solvents Market to Reach Valuation of US$ 2.9 Bn by 2030

 De-aromatic solvents, also known as de-aromatized hydrocarbon solvents or ultra-low aromatic solvents are hydrocarbon solvents that contain paraffinic, iso-paraffinic, and naphthenic components but have a very low aromatic concentration (less than 1%). De-aromatic solvents are a good substitute for traditional solvents like mineral or white spirits. Paints, coatings, and inks, metalworking fluids, industrial cleaning, adhesives, and sealants, drilling fluids, consumer items such as home pesticides, and other specialist applications all use these de-aromatized hydrocarbon solvents.

In terms of revenue, the global de-aromatic solvents market is expected to reach roughly US$ 2.9 billion by the end of 2027, rising at a CAGR of 5.9% throughout the forecast period (2019-2027).

This edition (2021-2031) keeps readers up to date on significant market trends and offers insight into how manufacturers and other players are responding to change. The study also builds on the preceding competitive landscape portion, allowing readers to learn about the major strategies of both established players and newcomers. De-aromatic solvents are a great alternative to traditional solvents like chlorinated solvents and mineral turpentine because of their decreased toxicity and thus larger occupational exposure limits and low VOC content. De-aromatic solvent usage is dominated by paints and coatings, followed by metal works.

The demand for non-corrosive, environmentally friendly de-aromatic solvents with a high flash point has been steadily increasing, particularly in metalworking applications. As a result of this rising demand, the high flash point segment is predicted to rise throughout the projection period Solvents with a low flash point are largely used in coatings. Over the next few years, the use of powder-based coatings and water-based alternatives is likely to increase steadily.

Manufacturing and supply chain operations have taken a hit as a result of the ongoing COVID-19 pandemic. As the economy improves and the pandemic situation stabilizes, demand is expected to rise. The COVID-19 epidemic has had a substantial influence on the world economy at various periods, and demand for de-aromatic solvents has been affected as well.

De-aromatic solvents are used extensively in paints, coatings, and inks, which have already witnessed a decline in 2020 due to reduced building and industrial activity. COVID-19 harmed the metal industry's expansion by depleting demand for de-aromatic solvents during the pandemic.

In India, the economy is based on imports. Around 70% of the country's total de-aromatic solvents are imported, mostly from global majors such as Exxon Mobil and Total S.A. Other firms, such as ISU Exachem of South Korea, supply a significant amount of de-aromatic solvents in the country. China is likely to be a major user and producer of de-aromatic solvents, with the market expected to expand at the fastest rate during the forecast period. Lower and medium flash point grades are the most popular in the country, accounting for more than three-quarters of the overall market share.

The United States are expected to be a major market for de-aromatic solvents. Paint, coating, and ink, as well as metalworking applications, dominate the market in the country. The use of de-aromatized solvents for drilling applications has also increased in the United States. Throughout the forecast period throughout the country, the medium flash point type will maintain its dominance.