The global de-aromatic solvent market is set to reach US$ 2.2 billion in 2023 and is projected to grow at a strong CAGR of 6.2% from 2023 to 2033. By 2033, the market is expected to be valued at US$ 4.0 billion.

A key driver for this growth is the paints and coatings industry. The rising demand for water-borne paints and coatings, which use fewer volatile organic compounds (VOCs), is anticipated to fuel the demand for de-aromatic solvents over the forecast period. Currently, the paints and coatings formulation segment accounts for approximately 27.2% of the global market share.

Download Sample Copy of This Report: https://www.factmr.com/connectus/sample?flag=S&rep_id=8146

Key Takeaways:

• The medium flash point de-aromatic solvent segment currently holds around 42.5% of the global market share.
• In terms of boiling point, the demand for type 1 (150-200°C) de-aromatic solvents is expected to grow at a CAGR of 5.7% through 2033.
• The de-aromatic solvent market in East Asia is projected to expand at a CAGR of 6.4% during the forecast period, while the U.S. market is set to grow at 5.5% CAGR from 2023 to 2033.
• Driven by a booming construction sector, sales of de-aromatic solvents in China are expected to rise significantly throughout the assessment period.

Growth Drivers:

• The increasing use of de-aromatic solvents in the paints and coatings sector is expected to drive demand throughout the assessment period.
• Rising awareness about the advantages of de-aromatic solvents is anticipated to boost sales through 2033.
• Strict regulations limiting the use of hazardous substances, including aromatic solvents, will continue to create growth opportunities for the de-aromatic solvent industry.
• Global growth in construction and building activities, along with the development of customized de-aromatic solvents featuring high and medium flash points and low toxicity, is likely to present new opportunities for manufacturers.

Get Customization on this Report for Specific Research Solutions: https://www.factmr.com/connectus/sample?flag=RC&rep_id=8146

Key Market Strategies

Leading companies in the de-aromatic solvent market prioritize strong relationships with key distributors and secure long-term contracts with clients. To meet growing demand across various applications, businesses are increasing production capacity and focusing on creating high-utility products.

For example:

• In March 2019, Hindustan Petroleum Corporation Limited's Green Research & Development Center (HP GRDC) developed a new technique for manufacturing low-aromatic solvents, which are in high demand in the paint, drilling, and solvent industries.
• In November 2019, Archer Daniels Midland Company acquired Florida Chemical Company (FCC), a division of Flotek Industries.

Key Companies Profiled by Fact.MR

• Exxon Mobil Corporation
• Shell plc
• Idemitsu Kosan Co.,Ltd.
• Neste
• Raj Petro Specialties Pvt. Ltd.
• DHC Solvent Chemie GmbH
• Avani Petrochem Pvt. Ltd.
• Calumet Specialty Products Partner, L.P.

Read More: https://www.factmr.com/report/de-aromatic-solvent-market

More Valuable Insights on De-Aromatic Solvent Market

In the latest study, Fact.MR offers a detailed study on global de-aromatic solvent market for the forecast period of 2023 to 2033. This study also highlights key drivers influencing the sales of de-aromatic solvents through detailed segmentation as follows:

By Flash Point:

• Low
• Medium
• High

By Boiling Point:

• Type 1 (150-200 °C)
• Type 2 (200-240 °C)
• Type 3 (>240 °C)

By Application:

• Paint & Coating Formulation
• Printing Inks Formulation
• Varnishes Formulation
• Wood Preservatives Formulation
• Adhesives and Sealants Formulation
• Cleaning Solvents Formulation
• Drilling Fluids
• Other

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Oceania
• Middle East & Africa

𝐂𝐨𝐧𝐭𝐚𝐜𝐭:

US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232
Email: sales@factmr.com