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Special Boiling Point Solvents Market Report by Solvent Base (Petroleum Ether, Rubber Solvent, VM and P Naphtha), Application (Paints and Coatings, Adhesives, Rubbers and Tires, Resins, Cleaning Agents, and Others), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A6499
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Market Overview:
The global special boiling point solvents market size reached US$ 2.8 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 4.2 Billion by 2032, exhibiting a growth rate (CAGR) of 4.31% during 2024-2032.
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Report Attribute
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Key Statistics
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|---|---|
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Base Year
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2023
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|
Forecast Years
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2024-2032
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Historical Years
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2018-2023
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Market Size in 2023
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US$ 2.8 Billion |
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Market Forecast in 2032
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US$ 4.2 Billion |
| Market Growth Rate (2024-2032) | 4.31% |
Special boiling point (SBP) solvents refer to fast and medium evaporating fluids manufactured from paraffinic and naphthenic hydrocarbons with very low aromatic contents. Petroleum ether, varnish makers and painters’ naphtha (VM & N), toluene, and rubber solvent are some of the common variants of SBP solvents. They are widely used as cleaning agents, extractants, auxiliaries, and degreasing agents. SBP solvents aid in controlling viscosity, film formation, and wetting pigments and substrates that help with dispersion and adhesion. They exhibit very low total aromatics and benzene content with virtually undetectable levels of polycyclic aromatics. As a result, SBP solvents find extensive applications across the paints and coatings, automotive, rubber, and cosmetics industries.
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Special Boiling Point Solvents Market Trends:
The increasing product utilization in paint and coating formulations to assist in quick drying, control viscosity, improve quality, and dissolve compounds, such as pigments, binders, and additives, is one of the key factors driving the market growth. In addition, the widespread adoption of SBP solvent-based paints and coatings in construction and automotive industries for decoration, corrosion protection, anti-friction, hardness, and prevention of external damages is creating a positive outlook for the market. Furthermore, the rising product utilization in the rubber industry to improve the processing of raw materials and provide adhesion to rubber layers before vulcanization in the manufacturing of various goods, such as tires and door mats, is providing a considerable boost to the market growth. Additionally, the increasing product demand for producing adhesives, printing inks, processing polishes, cleaning agents, and waterproofing compounds are facilitating the market growth. Moreover, the increasing product utilization as an extractant to manufacture aromatics, edible oils, and fats is providing an impetus to the market growth. Other factors, including extensive research and development (R&D) activities, widespread utilization of the solvent as a reaction medium in polymerization, and significant growth in the pharmaceutical industry, are supporting the market growth.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global special boiling point solvents market report, along with forecasts at the global, regional and country level from 2024-2032. Our report has categorized the market based on solvent base and application.
Breakup by Solvent Base:
- Petroleum Ether
- Rubber Solvent
- VM and P Naphtha
Breakup by Application:
- Paints and Coatings
- Adhesives
- Rubbers and Tires
- Resins
- Cleaning Agents
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being Banner Chemicals Limited (2M Holdings Group), Bharat Petroleum Corporation Limited, Compañía Española de Petróleos S.A.U., DHC Solvent Chemie GmbH, ExxonMobil Corporation, Ganga Rasayanie Pvt Ltd, Gulf Chemicals and Industrial Oils Co., HCS Group GmbH, KH Chemicals BV, and Shell plc.
Report Coverage:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Segment Coverage | Solvent Base, Application, Region |
| Regions Covered | Asia Pacific, Europe, North America, Latin America, Middle East and Africa |
| Countries Covered | United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico |
| Companies Covered | Banner Chemicals Limited (2M Holdings Group), Bharat Petroleum Corporation Limited, Compañía Española de Petróleos S.A.U., DHC Solvent Chemie GmbH, ExxonMobil Corporation, Ganga Rasayanie Pvt Ltd, Gulf Chemicals and Industrial Oils Co., HCS Group GmbH, KH Chemicals BV, Shell plc., etc. |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 3899 Five User License: US$ 4899 Corporate License: US$ 5899 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
The global special boiling point solvents market was valued at US$ 2.8 Billion in 2023.
We expect the global special boiling point solvents market to exhibit a CAGR of 4.31% during 2024-2032.
The rising demand for special boiling point solvents across various industries, including paints and coatings, automotive, rubber, etc., as they exhibit very low total aromatics and benzene content with virtually undetectable levels of polycyclic aromatics, is primarily driving the global special boiling point solvents market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations, resulting in the temporary halt in numerous production activities for special boiling point solvents.
Based on the solvent base, the global special boiling point solvents market has been segregated into petroleum ether, rubber solvent, and VM and P naphtha. Among these, VM and P naphtha currently exhibits a clear dominance in the market.
Based on the application, the global special boiling point solvents market can be bifurcated into paints and coatings, adhesives, rubbers and tires, resins, cleaning agents, and others. Currently, paints and coatings hold the largest market share.
On a regional level, the market has been classified into North America, Asia-Pacific, Europe, Latin America, and Middle East and Africa, where Asia-Pacific currently dominates the global market.
Some of the major players in the global special boiling point solvents market include Banner Chemicals Limited (2M Holdings Group), Bharat Petroleum Corporation Limited, Compañía Española de Petróleos S.A.U., DHC Solvent Chemie GmbH, ExxonMobil Corporation, Ganga Rasayanie Pvt Ltd, Gulf Chemicals and Industrial Oils Co., HCS Group GmbH, KH Chemicals BV, and Shell plc.
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