The global de-aromatic solvents market is estimated to be valued at USD 2.34 Bn in 2024, exhibiting a compound annual growth rate (CAGR) of 5% from 2024 to 2031. The global de-aromatic solvents market has been growing significantly over the past decade due to rising demand from various end-use industries including paints & coatings, adhesive & sealants, and polymer & rubbers, among others. De-aromatic solvents are refined petroleum products that are free from aromatics and possess excellent solvent properties. They provide superior compatibility along with low evaporation rate and odor as compared to conventional solvents. Furthermore, stringent regulations regarding VOC emissions have further propelled the demand for these environment-friendly solvents across the globe. The paints & coatings industry accounted for the largest share of the global de-aromatic solvents market in 2021 owing to increasing applications of de-aromatic solvents as thinners in various coatings. Asia Pacific emerged as the highest revenue generating region representing over 35% share of the total market revenue in 2021.

Market Dynamics:

The global de-aromatic solvents market is primarily driven by rising demand from the paints & coatings industry and stringent environmental regulations regarding VOC emissions. Rapid industrialization and infrastructural development activities across emerging economies of Asia Pacific and Latin America have augmented the consumption of paints & coatings which, in turn, has boosted the demand for de-aromatic solvents. However, volatile raw material prices remain a key challenge for market players due to dependency on crude oil. Furthermore, availability of cheap substitutes such as conventional aromatic based solvents can threaten the growth of de-aromatic solvents market. On the brighter side, increasing R&D investments for developing bio-based and eco-friendly solvents present lucrative opportunities for manufacturers over the forecast period.

Key Features of the Study:

• This report provides in-depth analysis of the global de-aromatic solvents market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024–2031), considering 2023 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by key players
• It profiles key players in the global de-aromatic solvents market based on the following parameters – company highlights, products portfolio, key highlights, financial performance, and strategies
• Key companies covered as a part of this study include ExxonMobil Chemical Company, Shell Chemicals, TotalEnergies, SABIC, Chevron Phillips Chemical Company, Huntsman Corporation, LyondellBasell Industries, INEOS Group, Evonik Industries, Eastman Chemical Company, BASF SE, Repsol, Mitsubishi Chemical Holdings, Delek US Holdings, Clariant AG, Solvay S.A., Fuchs Petrolub SE, Oxea GmbH, Cepsa, and Kraton Corporation
• Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics
• The global de-aromatic solvents market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global de-aromatic solvents market

Detailed Segmentation-

•  Type Insights (Revenue, USD Bn, 2019 - 2031)
• • Aliphatic Solvents
  • Cycloaliphatic Solvents
  • Other Types
•  Application Insights (Revenue, USD Bn, 2019 - 2031)
• • Paints and Coatings
  • Adhesives
  • Cleaning Agents
  • Printing Inks
  • Others
• Regional Insights (Revenue, USD Tn, 2019 - 2031)
• • North America
    • U.S.
    • Canada
  • Latin America
    • Brazil
    • Argentina
    • Mexico
    • Rest of Latin America
  • Europe
    • Germany
    • U.K.
    • Spain
    • France
    • Italy
    • Russia
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • Australia
    • South Korea
    • ASEAN
    • Rest of Asia Pacific
  • Middle East
    • GCC Countries
    • Israel
    • Rest of Middle East
  • Africa
    • South Africa
    • North Africa
• Key Players Insights
  • ExxonMobil Chemical Company
  • Shell Chemicals
  • TotalEnergies
  • SABIC
  • Chevron Phillips Chemical Company
  • Huntsman Corporation
  • LyondellBasell Industries
  • INEOS Group
  • Evonik Industries
  • Eastman Chemical Company
  • BASF SE
  • Repsol
  • Mitsubishi Chemical Holdings
  • Delek US Holdings
  • Clariant AG
  • Solvay S.A.
  • Fuchs Petrolub SE
  • Oxea GmbH
  • Cepsa
  • Kraton Corporation