The global special boiling point solvents market size reached US$ 2.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 3.6 Billion by 2028, exhibiting a growth rate (CAGR) of 4.9% during 2023-2028.
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.
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 2023-2028. 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
- Rubbers and Tires
- Cleaning Agents
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
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.
|Base Year of the Analysis
||Solvent Base, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||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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