The report covers the characteristics of the market for aliphatic solvents in Asia and the Middle East including trends, characteristics, country splits, segmentations and analysis of end uses.
The report covers aliphatic solvents and hydrocarbon solvent mixtures that are further segmented into paraffinic, Paraffinic solvents, Varnish makers and paints (VM&P) naphtha, Mineral spirits, Stoddard solvent, Solvent 140. Segments of the market covered in the report include mineral spirits, hexanes, heptanes, naphthas and other solvents. End uses mentioned in the report include paints and coatings, printing inks, pharmaceuticals, adhesives, rubber & polymer, agricultural chemicals, other uses.
Some Key Findings of the Report
- The global solvents (oxygenated, hydrocarbon, and halogenated) market was estimated to be about 25 MT in volume in 2014. Aliphatic hydrocarbon solvents constitute 27% of the total solvents market.
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- The historical growth (2010-2013) of the global / Asia-Pacific / Middle East aliphatic hydrocarbon solvents market is primarily attributed to a single factor i.e. growth in demand for solvents from the end-user industries as a result of economic growth, particularly in emerging markets.
- Shale gas discovery and exploitation have led to light naphtha becoming an over-supplied raw material in the aliphatic hydrocarbon solvents market, leading to lower the raw material costs for manufacturers of aliphatic hydrocarbon solvents.
- Solvents are highly regulated chemical substances as solvents emit high levels of VOCs in the atmosphere. Many global- as well as regional-level regulatory compliance rules/norms have been formulated to minimize the VOC emissions and to ensure compliance.
- VM&P naphtha constitutes around 80% of the aliphatic solvents market owing to its usage across range or end-user industries.
- Since the 1960’s, solvents have typically been used across a range of industries such as paints and coatings, printing inks and cleaning agents; they are also used in the pharmaceutical and synthetic rubber industries. The largest end-user customer segment to date is the paints and coatings industry.
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- Corresponding to the growth of the printing inks industry, the demand for solvents as core ingredients (solvents account for ~ 50% to 70% of overall weight of printing inks too) is also expected to grow leading to profitable opportunities for market players.
- There is a rising trend is taking place of development of ‘solvent-free’ pharmaceuticals production processes (such as use of ball mills for molecule size reduction and dissolution) and the replacement/substitution of existing solvents.
- The Asia-Pacific aliphatic hydrocarbon solvents market is fragmented with only a small number of organized players having a presence across the entire region. Companies such as Shell Chemicals, ExxonMobil Chemicals, and two others together account for approximately 20% of the Asia-Pacific aliphatic solvents market.
- China will remain a ‘net importer’ for many ‘specialized solvents/product lines’, while relying on production and domestic consumption of commonly used aliphatic hydrocarbon solvents.
- Saudi Arabia and UAE produce nominal quantities of ‘specialized’ aliphatic hydrocarbon solvents for domestic consumption; they export the generic solvents and also raw material in bulk to other countries.
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