Asia Pacific Special Boiling Point Solvents Market
The Asia Pacific special boiling point solvents market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. The special boiling point solvents market in the Asia Pacific is propelling due to the presence of small and large-scale chemical companies in India, China, Japan, and Thailand. The Asia Pacific is one of the most prominent regions for the growth of this business space, given that the specialty chemicals industry in the region is among one of the oldest industrial sectors. Furthermore, the technological expenditure in manufacturing in the Asia Pacific region would grow to look at the companies that take stock of the existing investments in order to ensure that the value has been delivered. Manufacturers are competing to reach a wide customer base in countries, including China and India, due to the rising demand for technologically advanced and innovative Applications. Increased investments in the building & construction, chemical, and automobile industries are driving the growth of special boiling point solvents in the Asia-Pacific market. Moreover, a large population base in the Asia Pacific region has further led to increased demand for decorative and industrial coatings. The increasing population of these countries is the major driver for the growth of the construction and industrial sector in the region. Furthermore, the governments of different economies are taking several measures in order to attract private investments in construction and infrastructure development. This further provides a market opportunity for the key players operating in the Asia Pacific special boiling point solvents market.
In case of COVID-19, in Asia Pacific, especially India, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of solvents manufacturing activities. Other chemical and materials manufacturing sector has subsequently impacted the demand for special boiling point solvents during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to discontinuation of solvents manufacturing projects, thereby reducing the demand for special boiling point solvents. Similar trend was witnessed in other Asia Pacific countries, i.e., Japan, China and Australia. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.
Strategic insights for the Asia Pacific Special Boiling Point Solvents provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 510.77 Million |
| Market Size by 2027 | US$ 663.51 Million |
| Global CAGR (2020 - 2027) | 3.5 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Solvent Base
|
| Regions and Countries Covered | Asia-Pacific
|
| Market leaders and key company profiles |
The geographic scope of the Asia Pacific Special Boiling Point Solvents refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.
The special boiling point solvents market in Asia Pacific is expected to grow from US$ 510.77 million in 2019 to US$ 663.51 million by 2027; it is estimated to grow at a CAGR of 3.5 % from 2020 to 2027. Rubber is treated by utilizing several types of chemicals in order to produce significantly useful products such as rubber mats and automobile tires. Rubber processing chemicals includes a broad range of products including anti-degradants, accelerators and processing aids among others. SBP solvents plays crucial role in rubber processing. It helps to enhance the properties of rubber for its use in manufacturing of automobile tires. Hence, the increasing automobile industry is expected to expand the total growth of SBP solvents for rubber processing chemicals segment. Additionally, increasing technical advancements in the manufacture of automotive tires is additional major factor boosting the growth of SBP solvents for rubber processing market. SBP solvents does not only add qualities to rubber but also advances the overall manufacturing procedure of raw material for other applications including manufacturing of door mats. Though, factors such as growing environmental norms and strict governmental regulations are expected to hamper the growth of rubber processing chemicals rubber manufacturers are adapting to diverse chemical formulations to accomplish specific requirements of numerous end-use industries.
Based on solvent base, the others segment accounted for the largest share of the Asia Pacific special boiling point solvents market in 2019. Based on application, the paints & coatings segment held a larger market share of the Asia Pacific special boiling point solvents market in 2019. Other types of special boiling point solvents used are P-series / propylene-based glycol ethers, toluene, propylene glycol, mixed xylenes., V.M. & P. Naphtha. VM&P Naphtha stands for Varnish Maker and Painters Solvent, is an aliphatic hydrocarbon solvent with a medium boiling point and evaporation rate. It is an exceptional thinner for oil-based paints, stains, varnishes, and enamels, which has higher strength and a faster evaporation rate than thinner paint (100 percent mineral spirits). It is also a quick-drying thinner for brushing and spraying, which is great for cleaning after painting. Moreover, it produces a sweeter smell than other solvent bases. In addition, this chemical is one of the best options for solvent-based finishing and will be one of the most popular options for long-lasting projects. It is mainly used as a feedstock for the catalytic reforming process, which produces a high-octane gasoline portion. It's also used in the chemical industry for solvent (cleaning) applications and in the petrochemical industry for producing olefins in steam crackers.
A few major primary and secondary sources referred to for preparing this report on the Asia Pacific special boiling point solvents market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Royal Dutch Shell Plc, Exxon Mobil Corporation, Total SA, Bharat Petroleum Corporation Limited, Brenntag Holding GmbH, HCS Group GmbH, and KH Chemicals.
The Asia Pacific Special Boiling Point Solvents Market is valued at US$ 510.77 Million in 2019, it is projected to reach US$ 663.51 Million by 2027.
As per our report Asia Pacific Special Boiling Point Solvents Market, the market size is valued at US$ 510.77 Million in 2019, projecting it to reach US$ 663.51 Million by 2027. This translates to a CAGR of approximately 3.5 % during the forecast period.
The Asia Pacific Special Boiling Point Solvents Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the Asia Pacific Special Boiling Point Solvents Market report:
The Asia Pacific Special Boiling Point Solvents Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The Asia Pacific Special Boiling Point Solvents Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the Asia Pacific Special Boiling Point Solvents Market value chain can benefit from the information contained in a comprehensive market report.
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