The aliphatic hydrocarbon solvents & thinners industry size is projected to grow from 3.4 billion in 2020 to USD 4.3 billion by 2025, at a CAGR of 4.5% from 2020 to 2025. Increased demand for paints & coatings, which require aliphatic hydrocarbon solvents & thinners, from various end-use industries, such as decorative paints, automotive, industrial, and protective paints & coatings is one of the key factors driving the growth of the aliphatic hydrocarbon solvents & thinners market across the globe.
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Based on type, the aliphatic hydrocarbon solvents & thinners market has been segmented into varnish makers’ & painters’ naphtha, mineral spirits, hexane, heptane, and others. The varnish makers’ & painters’ naphtha segment is projected to grow at the highest CAGR from 2020 to 2025 in terms of both, value and volume. Varnish makers’ & painters’ naphtha or Naphtha is a type of hydrocarbon which is produced through the distillation of aliphatic hydrocarbons. Various properties, such as high volatility, faster drying time, and pleasant sweet smell makes varnish makers’ & painters’ naphtha widely applicable across several segments. These are used in paints & coatings, and cleaning & degreasing applications. They are also employed for most solvent-based finishes as well as for cleaning.
Based on application, the aliphatic hydrocarbon solvents & thinners market has been segmented into paints & coatings, cleaning & degreasing, adhesives, aerosols, rubbers & polymers, printing inks, and others. The paints & coatings segment is projected to lead the market in terms of both, value and volume during the forecast period. Aliphatic hydrocarbons, such as mineral spirits are used for oil-based and alkyd paints, primers, and varnishes. All types of paint thinners are majorly mineral spirits. Varnish makers’ & painters’ naphtha is used by professional painters as a paint thinner. The largest demand for solvents is from the paints & coatings industry, because the mix of solvents used in this industry are continually changing, and these satisfy increasing demands for enhanced performance.
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Asia Pacific, Middle East & Africa, and North America are significant regional markets for aliphatic hydrocarbon solvents & thinners. The increasing demand for varnish makers’ & painters’ naphtha or naphtha from the paints & coatings end-use industry, among others has led to the growth of the aliphatic hydrocarbon solvents & thinners market across the globe. China & India have high demand for paints & coatings applications due to high investments in infrastructure till 2025.
Various leading manufacturers of aliphatic hydrocarbon solvents & thinners have adopted acquisitions, expansions, partnerships, and new product developments strategies to cater to the increased demand for aliphatic hydrocarbon solvents & thinners from various end-use industries.
