India De-aromatic Solvents Market

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INDIA DE-AROMATIC SOLVENTS MARKET
ANALYSIS 

• India De-aromatic Solvents Market, By Grade (Low
  Flash Point (lt500C), Medium Flash Point (510C
  900C), High Flash Point (gt900C)), By Application
  (Paints, coatings, and Inks, Metal Working,
  Industrial Cleaning, Adhesives and Sealants,
  Drilling Fluids, Consumer Products, Others), By
  Boiling Point (Type 1 (lt1850C), Type 2(1850C
  2400C), Type 3(gt2400C)) - Size, Share, Outlook,
  and Opportunity Analysis, 2020 2027

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De-aromatic solvents are hydrocarbon solvents
that have low aromatic content around (lt2). They
consist of iso-paraffinic, naphthene, and
paraffinic compounds attached to them.
De-aromatic solvents are majorly used across
printing ink, industrial paints and
coatings because they have very low VOC content
and excellent faster-drying properties. Moreover,
they are also used in the manufacturing
de-aromatic insecticides and mosquitoes
repellents. These solvents are much safer and
eco-friendly products due to low VOC
emissions.The India de-aromatic solvents market
is projected to reach around INR 6,931.1
million by the end of 2027, in terms of revenue,
growing at CAGR of 7.4 during the forecast
period (2020-2027).

• Drivers
• Increasing demand for de-aromatic solvents for
  manufacturing of Household Insecticides, Mosquito
  Repellents, and aerosol is primarily fueling the
  market growth of the India de-aromatic solvents.
  In India, there are a number of insecticides and
  mosquito repellents, such as sprays, coils, and
  electric mosquito repellent products are
  available in the market due to strong demand for
  these products in the country.
• Growth in the India paints and coatings industry
  in the country is expected to augment the
• market growth over the forecast period. Rising
  demand for paints and coatings from residential
  as well as commercial sectors is expected to fuel
  the market growth. Moreover, rising demand for
  paints from industries such as automotive,
  marine, and railways is further expected to
  propel the India de-aromatic solvents market
  growth.

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Figure 1. India De-aromatic Solvents Market Share
() in terms of Value, By Sub-region, in 2019
West sub-region dominated the India De-aromatic
market in 2019, accounting for 35.5 share in
terms of value, followed by north and south
sub-region, respectively.
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Market Restraints

• Rising demand for eco-friendly product bio-based
  raw materials is expected to restrict the market
  growth of de-aromatic solvents over the forecast
  period. Moreover, according to the Coherent
  Market Insights, demand for greener alternatives,
  bio-based solvents market is slated to register a
  steady CAGR of around 68 over the forecast
  period.

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Market Opportunities

• Various manufacturers are focusing on increasing
  production capacity of de-aromatized in order to
  expand their presence in India. This is expected
  to offer potential growth opportunities in the
  near future. For instance, in 2017, Exxon Mobil
  expanded its production capacity by 250,000 tons
  for global hydrocarbon solvents. It produces a
  range of de-aromatic solvents in its facilities
  located in Singapore and Antwerp.
• Growth in the chemical and petrochemical industry
  in India due to the increasing production of
  chemicals will favor the market growth of
  de-aromatized solvent over the forecast period.
  According to the Invest India, total production
  of major chemicals and petrochemicals stood at
  27,847 MT during 2018-2019, a growth of 4.15
  over 2017 to 2018. Thus, growth in the chemical
  industry in India is expected to augment the
  market growth. 
•  

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Figure 2. India De-aromatic Solvents Market
Opportunity Analysis
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 Market Trends 

• The growing steel industry in India is expected
  to foster the market growth of the de-aromatic
  solvents. According to the India Brand Equity
  Foundation, India was accounted as a worlds
  second-largest steel producer_at_ with production
  standing at 106.5 MT in 2018. The growth in the
  Indian steel sector has been driven by the
  domestic availability of raw materials such as
  iron ore and cost-effective labor. Hence, growth
  in the steel industry is expected to fuel market
  growth.

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• Figure 2. India De-aromatic Solvents Market
  Opportunity Analysis

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On the basis of application in 2019, the paints,
coatings inks segment has accounted the largest
market share of 43.2 in terms of value, followed
by metal working and consumer products,
respectively. Competitive Section Company
Names  Exxon Mobil Corporation Total S.A. Royal
Dutch Shell plc Isu Exachem Mehta Petro
Refineries Avani Petrocehm Pvt Ltd. Raj Petro
Specialties P. Ltd. Eastern Petroleum Private
Limited
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