Market Overview:
The global heavy aromatic solvent market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The high flash point type is expected to dominate the market in terms of volume during the forecast period. The coating and paint application segment is expected to be the largest consumer of heavy aromatic solvents during the forecast period. North America dominates the global heavy aromatic solvent market, followed by Europe and Asia Pacific.
Product Definition:
A heavy aromatic solvent is a type of organic solvent that has a high boiling point and a high molecular weight. These solvents are often used in the production of paints, plastics, and other industrial products.
Low-flash Point:
Low-flash point is a characteristic of heavy aromatic solvent (HAS) which has applications in various end-use industries. The global market for low-flash point solvent is expected to grow at a significant rate owing to its increasing demand from the paints & coatings industry.
The major factor responsible for growth of this industry includes rapid industrialization and urbanization, especially in emerging economies such as India and China.
Mid-flash Point:
The mid-flash point is the temperature at which the vapor pressure of a solvent starts to increase rapidly. The vapor pressure of a liquid is dependent on its temperature. As more heat is applied, the higher will be the vapor pressure and when it’s heated further, evaporation will occur quicker resulting in lower boiling points.
In heavy aromatic solvents such as xylene.
Application Insights:
The other application segment that includes pharmaceuticals, food and beverages, cosmetics and personal care products accounted for the largest revenue share in 2017. The growth can be attributed to increasing demand from end-use industries such as paints and coatings, pesticides, etc. Paints and coatings are one of the major consumers of heavy aromatics solvent due to its ability to remove oils without any damage or change in color of the substrate.
Paints & coatings is a major consumer owing to its fast dry time coupled with high adhesion properties which make it suitable for use on various substrates such as metal lath; wood; concrete; plastic film among others. In addition, increasing construction spending across emerging economies including China India Brazil Thailand Mexico Indonesia South Africa is expected to augment industry growth over the forecast period particularly in Asia Pacific region where most of these paints & coateries are based out of.
Regional Analysis:
Asia Pacific was the dominant regional market in 2017 and is expected to continue its dominance over the forecast period. The region accounts for a major share of global production owing to low labor costs and easy availability of raw materials. China, India, Japan, South Korea are some of the largest consumers in this region due to high demand from end-use industries such as coatings & varnishes; agrochemicals; pesticides; food processing & packaging material along with other applications.
North America emerged as the second-largest consumer followed by Europe owing to growing demand for heavy aromatics solvent from key end-use industries such as paints & coatings; agrochemicals; pharmaceuticals etc. U.S., Canada are some of the largest producers in North America along with other countries including Brazil, Argentina etc.; which contribute significantly towards product consumption worldwide figure (Ref).
Growth Factors:
- Increasing demand from end-use industries such as paints & coatings, adhesives, and sealants
- Rising demand for heavy aromatic solvents in Asia Pacific region due to the growth of end-use industries such as automotive and construction
- Growth in the number of solvent users owing to the increasing trend of outsourcing production processes
- Technological advancements that have led to the development of new and improved products with better performance characteristics
- Growing environmental concerns among consumers that is resulting in an increase in demand for more environment friendly solvents
Scope Of The Report
Report Attributes
Report Details
Report Title
Heavy Aromatic Solvent Market Research Report
By Type
Low-flash Point, Mid-flash Point, High flash Point
By Application
Coating and Paint, Pesticide, Other
By Companies
Shell, ExxonMobil, Total, Chevron Phillips, SK, Calumet, Idemitsu, BP, Ganga Rasayanie, Gulf Chemicals and Industrial Oils, Jiangsu Hualun, Changshu Alliance Chemical
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
223
Number of Tables & Figures
157
Customization Available
Yes, the report can be customized as per your need.
Global Heavy Aromatic Solvent Market Report Segments:
The global Heavy Aromatic Solvent market is segmented on the basis of:
Types
Low-flash Point, Mid-flash Point, High flash Point
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Coating and Paint, Pesticide, Other
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Shell
- ExxonMobil
- Total
- Chevron Phillips
- SK
- Calumet
- Idemitsu
- BP
- Ganga Rasayanie
- Gulf Chemicals and Industrial Oils
- Jiangsu Hualun
- Changshu Alliance Chemical
Highlights of The Heavy Aromatic Solvent Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Low-flash Point
- Mid-flash Point
- High flash Point
- By Application:
- Coating and Paint
- Pesticide
- Other
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Heavy Aromatic Solvent Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Heavy aromatic solvent is a type of solvent that contains high levels of aromatic compounds. These solvents are often used in industrial and chemical processes because they are effective at dissolving many types of materials.
Some of the major companies in the heavy aromatic solvent market are Shell, ExxonMobil, Total, Chevron Phillips, SK, Calumet, Idemitsu, BP, Ganga Rasayanie, Gulf Chemicals and Industrial Oils, Jiangsu Hualun, Changshu Alliance Chemical.
The heavy aromatic solvent market is expected to grow at a compound annual growth rate of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Heavy Aromatic Solvent Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Heavy Aromatic Solvent Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Heavy Aromatic Solvent Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Heavy Aromatic Solvent Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Heavy Aromatic Solvent Market Size & Forecast, 2018-2028
4.5.1 Heavy Aromatic Solvent Market Size and Y-o-Y Growth
4.5.2 Heavy Aromatic Solvent Market Absolute $ Opportunity
Chapter 5 Global Heavy Aromatic Solvent Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Heavy Aromatic Solvent Market Size Forecast by Type
5.2.1 Low-flash Point
5.2.2 Mid-flash Point
5.2.3 High flash Point
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Heavy Aromatic Solvent Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Heavy Aromatic Solvent Market Size Forecast by Applications
6.2.1 Coating and Paint
6.2.2 Pesticide
6.2.3 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Heavy Aromatic Solvent Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Heavy Aromatic Solvent Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Heavy Aromatic Solvent Analysis and Forecast
9.1 Introduction
9.2 North America Heavy Aromatic Solvent Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Heavy Aromatic Solvent Market Size Forecast by Type
9.6.1 Low-flash Point
9.6.2 Mid-flash Point
9.6.3 High flash Point
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Heavy Aromatic Solvent Market Size Forecast by Applications
9.10.1 Coating and Paint
9.10.2 Pesticide
9.10.3 Other
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Heavy Aromatic Solvent Analysis and Forecast
10.1 Introduction
10.2 Europe Heavy Aromatic Solvent Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Heavy Aromatic Solvent Market Size Forecast by Type
10.6.1 Low-flash Point
10.6.2 Mid-flash Point
10.6.3 High flash Point
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Heavy Aromatic Solvent Market Size Forecast by Applications
10.10.1 Coating and Paint
10.10.2 Pesticide
10.10.3 Other
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Heavy Aromatic Solvent Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Heavy Aromatic Solvent Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Heavy Aromatic Solvent Market Size Forecast by Type
11.6.1 Low-flash Point
11.6.2 Mid-flash Point
11.6.3 High flash Point
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Heavy Aromatic Solvent Market Size Forecast by Applications
11.10.1 Coating and Paint
11.10.2 Pesticide
11.10.3 Other
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Heavy Aromatic Solvent Analysis and Forecast
12.1 Introduction
12.2 Latin America Heavy Aromatic Solvent Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Heavy Aromatic Solvent Market Size Forecast by Type
12.6.1 Low-flash Point
12.6.2 Mid-flash Point
12.6.3 High flash Point
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Heavy Aromatic Solvent Market Size Forecast by Applications
12.10.1 Coating and Paint
12.10.2 Pesticide
12.10.3 Other
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Heavy Aromatic Solvent Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Heavy Aromatic Solvent Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Heavy Aromatic Solvent Market Size Forecast by Type
13.6.1 Low-flash Point
13.6.2 Mid-flash Point
13.6.3 High flash Point
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Heavy Aromatic Solvent Market Size Forecast by Applications
13.10.1 Coating and Paint
13.10.2 Pesticide
13.10.3 Other
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Heavy Aromatic Solvent Market: Competitive Dashboard
14.2 Global Heavy Aromatic Solvent Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Shell
14.3.2 ExxonMobil
14.3.3 Total
14.3.4 Chevron Phillips
14.3.5 SK
14.3.6 Calumet
14.3.7 Idemitsu
14.3.8 BP
14.3.9 Ganga Rasayanie
14.3.10 Gulf Chemicals and Industrial Oils
14.3.11 Jiangsu Hualun
14.3.12 Changshu Alliance Chemical
