According to our latest market study on “Special Boiling Point Solvents Market Forecast to 2027 – COVID-19 Impact and Global Analysis – Solvent Base (Petroleum Ether, Rubber Solvent, Others), and Application (Paints and Coatings, Rubbers and Tires, Inks, Adhesives, Resins, Cleaning […]
According to our latest market study on “Special Boiling Point Solvents Market Forecast to 2027 – COVID-19 Impact and Global Analysis – Solvent Base (Petroleum Ether, Rubber Solvent, Others), and Application (Paints and Coatings, Rubbers and Tires, Inks, Adhesives, Resins, Cleaning Agents, Others)”, the market was valued at US$ 1,209.57 million in 2019 and is projected to reach US$ 1,537.68 million by 2027; it is expected to grow at a CAGR of 3.2% from 2020 to 2027. The report highlights key factors driving the market growth and prominent players along with their developments in the market.
Special boiling-point solvents are the mixtures of group of fast to medium evaporating aliphatic hydrocarbon fluids, consisting of paraffins and cycloparaffins in the C6-C10 range with a boiling-range of 30–160ºC. These products group are derived from naphtha feed-stocks. The products are widely used in adhesives, rubber, cleaning purposed, pharmaceuticals and surface coating industries, also for edible oil extraction.
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The increasing consumption of paints & coatings in the construction, automotive, wood, and general industries application sectors has raised the demand for special boiling point (SBP) solvents. SBP solvents are versatile group of fast to medium evaporating hydrocarbon fluids that constitute paraffin and cycloparaffins. These aliphatic solvents are majorly used in paints & coatings industry. These solvents act like a carriers for resins, pigments, and other components. They help in controlling viscosity, aiding film formation, and wetting pigments and substrates that help with dispersion and adhesion. These solvents also tend to migrate to the surface of a coating, thereby lowering the surface tension and making the surface more homogeneous. This action of (SBP) solvents improves levelling and reduces the tendency to form craters. Rapid expansion of global construction industry will support the growth of the paints & coatings market. Paints & coatings are used for decoration and protection of buildings and infrastructures from external damages. Due to various properties such as corrosion protection, anti-friction, hardness and reflection-absorption they are also used to protect automotive components. Apart from this, paints & coatings find vast applications in transportation and wood and metal industry, which further supports the demand of the product. Steady and continuous growth in these sectors have propelled the demand of SBP solvents.
The report includes the segmentation of the global special boiling point solvents market as follows:
Global Special Boiling Point Solvents Market, by Solvent Base
- Petroleum Ether
- Rubber Solvent
Global Special Boiling Point Solvents Market, by Application
- Paints and Coatings
- Rubbers and Tires
- Cleaning Agents
Global Special Boiling Point Solvents Market, by Geography
- North America
- Rest of Europe
- Asia Pacific (APAC)
- South Korea
- Rest of Asia Pacific
- Middle East &Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
- South America
- Rest of South America
Royal Dutch Shell Plc, Exxon Mobil Corporation, Total SA, Bharat Petroleum Corporation Limited, Brenntag Holding GMBH, Calumet Specialty Products Partners, L.P., Gulf Chemicals and Industrial Oils Co., HCS Group GMBH, KH Chemicals, and The MGT PetrOil group are among the well-established players in the global special boiling point solvents market.
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Impact of COVID-19 Pandemic on Special Boiling Point Solvents Market
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. As of March 2021, the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global chemical and materials industry is one of the major industries that is suffering serious disruptions such as supply chain breaks, technology events cancellations, office shutdowns etc. because of this outbreak. Although China is the global hub of manufacturing and largest raw material supplier for various industries, it is also one of the worst affected countries. The lockdown of various plants and factories in China is affecting the global supply chains and negatively impacting the manufacturing, delivery schedules, and sales of various chemicals and materials. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia, and North America are affecting the business collaborations and partnerships opportunities. All these factors are anticipated to affect the chemical and materials industry in a negative manner, thus act as restraining factor for the growth of various markets related to this industry in the coming months.
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