Market Overview:
The global low aromatic solvents market is expected to grow at a CAGR of 5.5% during the forecast period from 2018 to 2030. The other type segment is expected to be the fastest growing segment in the global low aromatic solvents market during the forecast period. This can be attributed to its properties such as non-toxicity, environmental friendliness, and biodegradability. Asia Pacific is expected to be the fastest growing region in terms of CAGR during the forecast period from 2018 to 2030.
Product Definition:
Low Aromatic Solvents are chemical solvents that have low aromatic content. This means that they release fewer harmful fumes into the air than other solvents. Low Aromatic Solvents are important because they can be used to clean up spills and protect workers from exposure to harmful chemicals.
18% Aromatic Content:
18% aromatic content, it's usage.
The global low aromatic solvent industry is expected to witness significant growth over the forecast period owing to increasing demand from end-use industries such as paints & coatings, adhesives & sealants and printing inks.
17% Aromatic Content:
17% Aromatic Content is a term used for solvents which contain one or more aromatic compounds. The most commonly used 17% aromatic solvents are xylene, toluene, ethylbenzene and cumene. These are widely utilized as they have high flash point and low flammability than other conventional hydrocarbons such as propane and gasoline.
Application Insights:
The paints and varnishes application segment led the global low aromatic solvents market in 2017. This is attributed to increasing demand for decorative paints from various end-use industries, such as construction and automotive. In addition, growing environmental concerns regarding the use of solvent-based paint thinners are expected to promote the usage of aromatics over other types of solvents in paints and varnishes applications.
Fabrics application segment is anticipated to register a significant CAGR during the forecast period owing to rising consumer preference for natural fabrics over synthetic ones with regard to comfortability and quality. Furthermore, increasing awareness about health hazards associated with chemical products used in textile processing has resulted in a shift toward more natural alternatives that are less toxicological burden on human health.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to increasing product demand from various end-use industries, such as construction, automotive, and electronics. In addition, rising disposable income levels in emerging economies of Asia Pacific are anticipated to fuel product consumption in several applications.
The Asia Pacific was followed by Europe with a revenue share of 24% in 2017 owing to stringent regulations regarding VOC emissions coupled with growing environmental concerns among consumers about harmful effects caused due to exposureto solvents used for paint manufacturing and wood finishing procedures. Stringent government regulations on VOC emissions from refineries have resulted in reducing raw material availability for aromatics production which has hampered industry growth over the past few years; however, recovery is expected during the forecast period owing to increased shale gas exploration activities across European countries such as U.K.
Growth Factors:
- Increasing demand from end-use industries: The global Low Aromatic Solvents market is witnessing a significant growth due to the increasing demand from end-use industries such as paints and coatings, adhesives and sealants, printing inks, and others.
- Rising environmental concerns: The growing awareness about the harmful effects of volatile organic compounds (VOCs) is propelling the demand for low aromatic solvents across the globe. These solvents are environment-friendly and emit negligible amount of VOCs into the atmosphere.
- Growing investments in R&D: Leading players in the global Low Aromatic Solvents market are investing heavily in R&D to develop new products that comply with stringent environmental regulations. This is helping them to expand their product portfolio and gain a competitive edge over other players in the market.
- Technological advancements: The development of advanced technologies has led to an increase in production efficiency of low aromatic solvents, thus reducing their manufacturing costs significantly over time. This is resulting in an overall decline in their prices, making them more affordable for consumers worldwide.
Scope Of The Report
Report Attributes
Report Details
Report Title
Low Aromatic Solvents Market Research Report
By Type
18% Aromatic Content, 17% Aromatic Content, Other
By Application
Paints and Varnishes, Fabrics, Metal Cleaning and Degreasing, Furniture, Rubber, Other
By Companies
Neste, Chevron Phillips Chemical, Shreenathji Rasayan, Eastern Petroleum, Royal Global Energy, Shell Chemicals, Jaskul Multi Enterprise, Total, Eagle Petrochem, Kuwait International Factory, Maoming Zhengmao Petrochemical
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
120
Number of Tables & Figures
84
Customization Available
Yes, the report can be customized as per your need.
Global Low Aromatic Solvents Market Report Segments:
The global Low Aromatic Solvents market is segmented on the basis of:
Types
18% Aromatic Content, 17% Aromatic Content, Other
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
Paints and Varnishes, Fabrics, Metal Cleaning and Degreasing, Furniture, Rubber, 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:
- Neste
- Chevron Phillips Chemical
- Shreenathji Rasayan
- Eastern Petroleum
- Royal Global Energy
- Shell Chemicals
- Jaskul Multi Enterprise
- Total
- Eagle Petrochem
- Kuwait International Factory
- Maoming Zhengmao Petrochemical
Highlights of The Low Aromatic Solvents 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:
- 18% Aromatic Content
- 17% Aromatic Content
- Other
- By Application:
- Paints and Varnishes
- Fabrics
- Metal Cleaning and Degreasing
- Furniture
- Rubber
- 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 Low Aromatic Solvents 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?
Low aromatic solvents are those that have a lower molecular weight than benzene. They include toluene, xylene, and ethylbenzene.
Some of the major players in the low aromatic solvents market are Neste, Chevron Phillips Chemical, Shreenathji Rasayan, Eastern Petroleum, Royal Global Energy, Shell Chemicals, Jaskul Multi Enterprise, Total, Eagle Petrochem, Kuwait International Factory, Maoming Zhengmao Petrochemical.
The low aromatic solvents market is expected to register a CAGR of 5.5%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Low Aromatic Solvents 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 Low Aromatic Solvents Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Low Aromatic Solvents 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 Low Aromatic Solvents 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 Low Aromatic Solvents Market Size & Forecast, 2020-2028
4.5.1 Low Aromatic Solvents Market Size and Y-o-Y Growth
4.5.2 Low Aromatic Solvents Market Absolute $ Opportunity
Chapter 5 Global 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 Market Size Forecast by Type
5.2.1 18% Aromatic Content
5.2.2 17% Aromatic Content
5.2.3 Other
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global 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 Market Size Forecast by Applications
6.2.1 Paints and Varnishes
6.2.2 Fabrics
6.2.3 Metal Cleaning and Degreasing
6.2.4 Furniture
6.2.5 Rubber
6.2.6 Other
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Low Aromatic Solvents 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 Low Aromatic Solvents 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 Analysis and Forecast
9.1 Introduction
9.2 North America 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 Market Size Forecast by Type
9.6.1 18% Aromatic Content
9.6.2 17% Aromatic Content
9.6.3 Other
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 Market Size Forecast by Applications
9.10.1 Paints and Varnishes
9.10.2 Fabrics
9.10.3 Metal Cleaning and Degreasing
9.10.4 Furniture
9.10.5 Rubber
9.10.6 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 Analysis and Forecast
10.1 Introduction
10.2 Europe 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 Market Size Forecast by Type
10.6.1 18% Aromatic Content
10.6.2 17% Aromatic Content
10.6.3 Other
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 Market Size Forecast by Applications
10.10.1 Paints and Varnishes
10.10.2 Fabrics
10.10.3 Metal Cleaning and Degreasing
10.10.4 Furniture
10.10.5 Rubber
10.10.6 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 Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific 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 Market Size Forecast by Type
11.6.1 18% Aromatic Content
11.6.2 17% Aromatic Content
11.6.3 Other
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 Market Size Forecast by Applications
11.10.1 Paints and Varnishes
11.10.2 Fabrics
11.10.3 Metal Cleaning and Degreasing
11.10.4 Furniture
11.10.5 Rubber
11.10.6 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 Analysis and Forecast
12.1 Introduction
12.2 Latin America 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 Market Size Forecast by Type
12.6.1 18% Aromatic Content
12.6.2 17% Aromatic Content
12.6.3 Other
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 Market Size Forecast by Applications
12.10.1 Paints and Varnishes
12.10.2 Fabrics
12.10.3 Metal Cleaning and Degreasing
12.10.4 Furniture
12.10.5 Rubber
12.10.6 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) Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) 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) Market Size Forecast by Type
13.6.1 18% Aromatic Content
13.6.2 17% Aromatic Content
13.6.3 Other
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) Market Size Forecast by Applications
13.10.1 Paints and Varnishes
13.10.2 Fabrics
13.10.3 Metal Cleaning and Degreasing
13.10.4 Furniture
13.10.5 Rubber
13.10.6 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 Low Aromatic Solvents Market: Competitive Dashboard
14.2 Global Low Aromatic Solvents Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Neste
14.3.2 Chevron Phillips Chemical
14.3.3 Shreenathji Rasayan
14.3.4 Eastern Petroleum
14.3.5 Royal Global Energy
14.3.6 Shell Chemicals
14.3.7 Jaskul Multi Enterprise
14.3.8 Total
14.3.9 Eagle Petrochem
14.3.10 Kuwait International Factory
14.3.11 Maoming Zhengmao Petrochemical
