De-aromatic Solvents Market to reach US$ 2,198.5 Mn by 2022 Research Report

De-aromatic solvents, also called dearomatized hydrocarbon solvents or ultra-low aromatic solvents, are a class of hydrocarbon solvents that are characterized by the presence of paraffinic, iso-paraffinic, and naphthenic components with very low aromatic content (<2%). De-aromatic solvents are of three types, namely low flash point, medium flash point, and high flash point. These dearomatized hydrocarbon solvents find application in various industries and are used as solvents for printing inks, paints & coatings, metal working fluids, industrial and institutional cleaning, adhesives and sealants, drilling fluids, and in consumer products. They are effective alternatives to conventional solvents such as mineral spirits and mineral turpentine.

Global sales revenue of the global de-aromatic solvents market is expected to increase at a CAGR of 5.9% over the forecast period, to reach US$ 2,198.5 Mn by 2022.

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Drivers and Trends

Conventional solvents are composed of the relatively higher level of aromatic content and, hence, are characterized by relatively higher levels of Volatile Organic Components (VOCs). On the other hand, in de-aromatic solvents, the aromatic content is significantly low (<2%). This low level of aromatic component results in a solvent that is odorless, with lower VOC content and is relatively less toxic as compared to traditional solvents. These solvents are, thus, relatively safer than traditional solvents such as chlorinated solvents. Growing concerns regarding ill-effects of solvents with high VOC content are leading to the rise in demand for de-aromatic solvents, and this trend is expected to continue during the forecast period as well.

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Major players in the de-aromatic solvents market have been channelizing their efforts towards developing eco-friendly or green product offerings that employ bio-based raw materials for their synthesis and thus, eventually do away with the use of conventional solvents in certain applications. Owing to increasing demand for greener alternatives, the bio-based solvents market is slated to register a steady CAGR of around 6–7% over the forecast period. Another major factor that is projected to impede growth of the de-aromatic solvents market, especially in paints & coatings applications, is increasing demand for water-based paints & coatings, powder coatings, among others across the globe

Market Taxonomy

Persistence Market Research, in its report titled, “De-aromatic Solvents Market: Global Industry Analysis and Forecast, 2016–2022,” has segmented the global de-aromatic solvents market by flash point, boiling point, application, and region. On the basis of flash points, the global de-aromatic solvents market has been segmented into the low flash point, medium flash point, and high flash point. On the basis of application, the market is segmented into paints and coatings, metal working, industrial cleaning, adhesives and sealants, drilling fluids, consumer products, and others. Others segment includes chemical intermediates and crop protection. On the basis of boiling point, the market has been segmented into three types: type1 (1500C–2000C), type 2 (2000C–2400C), and type 3 (>2400C). Finally, on the basis of region, the overall de-aromatic solvents market is segmented into North America, Europe, Asia-Pacific, Middle East & Africa and Latin America.

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Analysis, by Region

Asia-Pacific accounted for the largest revenue share of the global de-aromatic solvents market in 2014, and the market in the region is anticipated to increase at the highest CAGR over the forecast period. Consumption of de-aromatic solvents in Asia-Pacific is projected to increase by 1.4X between 2014 and 2022. Mature markets, i.e. North America and Europe, are expected to register relatively slower growth during the forecast period.

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