The market expansion of India's de-aromatic solvents is primarily driven by rising demand for de-aromatic solvents used in the production of household insecticides, mosquito repellents, and aerosol. Due to the high demand for these items in the nation, a variety of insecticides and mosquito repellents, including sprays, coils, and electric solutions, are offered in the market in India. Over the course of the projected period, expansion of the paints and coatings sector in India is anticipated to support market expansion. The market is anticipated to increase as a result of rising demand from both the residential and commercial sectors for paints and coatings. The demand for paints from sectors like the automotive, marine, and rail industries is also anticipated to increase demand for de-aromatic solvents in India. To increase their presence in India, several producers are concentrating on raising their de-aromatized production capacity. In the near future, this is anticipated to present possible growth prospects. Over the course of the forecast period, expansion of the chemical and petrochemical industries in India will be aided by rising chemical production.
Coherent Market Insights projects that The De-Aromatic Solvents Market in India is anticipated to generate around INR 6,931.1 million in revenue by the end of 2027, expanding at a CAGR of 7.4% over the forecast period (2020-2027).
Major Players in the India De Aromatic Solvents Industry:
1. Exxon Mobil Corporation
The company was started in 1999 and is based in Irving, Texas, United States. The corporation runs activities in petrochemicals and petroleum. The business conducts operations for coal, minerals, electric power generation, oil and gas exploration, and production. Additionally, Exxon Mobil produces and sells chemicals, lubricants, and fuels. ExxonMobil released New ExceedTM S Performance Polyethylene in April 2022, enabling converters to reevaluate film design for easier solutions.
2. Total S.A.
The company was founded in 1924 and is based in Courbevoie, France. It is involved in the discovery, refinement, transportation, and marketing of oil and petrochemical products. Total was among the few Western oil firms still conducting business in Russia as of March 11, 2022, following the Russian invasion of Ukraine.
3. Royal Dutch Shell plc
The company was founded in 1907 and has its main office in London, United Kingdom. The company runs service station networks, produces and imports chemicals, lubricants, and fuels. Royal Dutch Shell plc will no longer have a dual share structure, and Shell plc will take its place as the company's name, according to a November 2021 announcement from Shell.
4. Isu Exachem
The company was established in 2001 and is based in Seoul, Korea. Petrochemicals and high-precision chemical products are the focus of the chemical distribution business ISU Exachem. As a molecular weight controller, it is employed in the creation of synthetic polymers.
5. Mehta Petro Refineries
The company was founded in 1993 and is located in Borivali West, Mumbai, India. Basic and specialized chemicals are produced by the company. The business sells fluids and solvents used in the manufacture of paints, inks for printing pigments, insecticides, resins, and varnishes. One of India's Lubricating Oil and Specialties Companies with the quickest growth is Mehta Petro Refineries Ltd.
6. Avani Petrocehm Pvt Ltd.
The firm was started in 1980 and has its main office in Baroda, Gujarat. The business produces chemical products and provides deodorized goods, mineral kerosene, white beings, aluminium rolling oil, and solvents. To remain the top manufacturer-supplier of specialty oils/solvents in India, the company will keep up its creative and entrepreneurial endeavors.
7. Raj Petro Specialties P. Ltd.
The company was started in 1997 and is based in Mumbai. The business sells converter oils, processing oils and liquids, and lubricants in addition to its petrochemical goods. Raj Petro Specialities provides services to the Indian industries of agricultural, automobile retail, cement, chemical, building, mining, engineering, pharmaceuticals, metal works, wrapping, personal hygiene, petroleum, rubber, textile, and power.
Definition: Hydrocarbon solvents with a low (2% or less) aromatic component are referred to as de-aromatic solvents. They have paraffinic, iso-paraffinic, and naphthene chemicals linked to them. Due to their superior faster-drying qualities and extremely low VOC content, de-aromatic solvents are mostly employed in printing ink, industrial paints, and coatings.
