Published by Coherent Market Insights
Posted on October 8, 2021
The global de-aromatic solvents market is projected to reach around US$ 2.9 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.9% during the forecast period (2019-2027).
De-aromatic solvents also referred to as de-aromatized hydrocarbon solvents and are an effective alternative to conventional solvents. They have a wide range of application across paints & coatings, industrial and institutional cleaning, metalworking fluids, solvents for printing inks, drilling fluids, adhesives and sealants, and consumer products. De-aromatic solvents are odorless and have low VOC content and is comparatively less toxic to conventional solvents. Therefore, these solvents are much safer than traditional solvents such as chlorinated solvents and are consider as eco-friendly products that have a less environmental impact.
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Drivers
Growing replacement of traditional solvents with de-aromatic solvents due to its less VOC content and toxicity is propelling the market growth of de-aromatic solvents. The de-aromatic solvent are odorless with lower VOC content and toxicity than traditional solvents is accelerating their demand around the globe. Therefore, rising awareness regarding the negative environmental impact of solvents is fueling the market growth of de-aromatic solvents over the forecast timeframe.
Market Opportunities
The growing market of adhesives and sealants is expected to offer enormous growth opportunity to the market growth of de-aromatized solvents. According to the Coatings World, the U.S. demand for adhesives and sealants is expected to reach nearly US$ 13 billion in 2019 and this can be attributed to growing construction activity, combined with the increasing use of adhesives and sealants in manufacturing and assembly will underpin demand gains. This factor is expected to propel the market growth of de-aromatic solvents.
Market Trends
The growing focus of manufacturers to expand the production capacity of de-aromatic solvents is expected to foster market growth over the forecast period. For instance, in December 2015, Royal Dutch Shell plc., announced plans to expand its refinery at Pernis, Netherlands, through the addition of a new solvent deasphalting unit for removal of heavy fractions from crude oil. Growing initiatives by the manufacturer to increase production capacity will stimulate market growth.
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Competitive Section
Key players operating in global de-aromatic solvents are Exxon Mobil Corporation, Royal Dutch Shell plc., Total S.A., Idemitsu Kosan Co., Ltd., Neste Oyj, Calumet Specialty Products Partners, L.P., CEPSA, Gandhar Oil Refinery India Ltd., SK Global Chemical Co., Ltd., DHC Solvent Chemie GmbH
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The post De-Aromatic Solvents Market Size Is Projected To Reach Usd 1527.2 Million By 2027 | Exxon Mobil Corporation, Royal Dutch Shell plc., Total S.A. appeared first on Gatorledger.
The global de-aromatic solvents market is projected to reach around US$ 2.9 billion by the end of 2027, in terms of revenue, growing at CAGR of 5.9% during the forecast period (2019-2027).
De-aromatic solvents also referred to as de-aromatized hydrocarbon solvents and are an effective alternative to conventional solvents. They have a wide range of application across paints & coatings, industrial and institutional cleaning, metalworking fluids, solvents for printing inks, drilling fluids, adhesives and sealants, and consumer products. De-aromatic solvents are odorless and have low VOC content and is comparatively less toxic to conventional solvents. Therefore, these solvents are much safer than traditional solvents such as chlorinated solvents and are consider as eco-friendly products that have a less environmental impact.
Get a Sample Copy + All Related Graphs & Charts: https://www.coherentmarketinsights.com/insight/request-sample/3577
Drivers
Growing replacement of traditional solvents with de-aromatic solvents due to its less VOC content and toxicity is propelling the market growth of de-aromatic solvents. The de-aromatic solvent are odorless with lower VOC content and toxicity than traditional solvents is accelerating their demand around the globe. Therefore, rising awareness regarding the negative environmental impact of solvents is fueling the market growth of de-aromatic solvents over the forecast timeframe.
Market Opportunities
The growing market of adhesives and sealants is expected to offer enormous growth opportunity to the market growth of de-aromatized solvents. According to the Coatings World, the U.S. demand for adhesives and sealants is expected to reach nearly US$ 13 billion in 2019 and this can be attributed to growing construction activity, combined with the increasing use of adhesives and sealants in manufacturing and assembly will underpin demand gains. This factor is expected to propel the market growth of de-aromatic solvents.
Market Trends
The growing focus of manufacturers to expand the production capacity of de-aromatic solvents is expected to foster market growth over the forecast period. For instance, in December 2015, Royal Dutch Shell plc., announced plans to expand its refinery at Pernis, Netherlands, through the addition of a new solvent deasphalting unit for removal of heavy fractions from crude oil. Growing initiatives by the manufacturer to increase production capacity will stimulate market growth.
Hurry Up…and Get a 2000$ Discount On a Price…!!!: https://www.coherentmarketinsights.com/insight/request-discount/3577
Competitive Section
Key players operating in global de-aromatic solvents are Exxon Mobil Corporation, Royal Dutch Shell plc., Total S.A., Idemitsu Kosan Co., Ltd., Neste Oyj, Calumet Specialty Products Partners, L.P., CEPSA, Gandhar Oil Refinery India Ltd., SK Global Chemical Co., Ltd., DHC Solvent Chemie GmbH
Contact Us:
Mr. Shah
Coherent Market Insights
1001 4th Ave,
#3200
Seattle, WA 98154
Tel: +1-206-701-6702
Email: sales@coherentmarketinsights.com
The post De-Aromatic Solvents Market Size Is Projected To Reach Usd 1527.2 Million By 2027 | Exxon Mobil Corporation, Royal Dutch Shell plc., Total S.A. appeared first on Gatorledger.
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