Rockville , April 23, 2024 (GLOBE NEWSWIRE) -- According to a new industry analysis by Fact.MR, the global isoparaffin solvent market, after reaching a value of US$ 858.6 million in 2024, is expected to advance at a CAGR of 3.8% during the forecast period (2024 to 2034).
In the world of industrial applications, isoparaffin solvents have become a game changer since they are efficient, versatile, and safe for use. These solvents have gained popularity across industries such as paints & coatings, agrochemicals, and cosmetics & personal care.
Get Free Sample Copy of This Report:
https://www.factmr.com/connectus/sample?flag=S&rep_id=9996
Isoparaffin solvents fall under the synthetic hydrocarbon category. These are produced by the hydrogenation of a petroleum feedstock. Highly refined product type C9-C10 isoparaffin is trending in the market. Growing automotive industry across several regions is set to drive global isoparaffin solvent market growth since this solvent is extensively used in coatings, adhesives, and sealants for vehicles.
| Report Attribute | Details |
| Value Projection (2034) | US$ 1.25 Billion |
| Growth Rate (2024-2034) | 3.8% CAGR |
| No. of pages | 170 Pages |
| No. of Tables | 96 Tables |
| No. of Figures | 85 Figures |
Key Takeaways from Market Study
- The global isoparaffin solvent market is projected to expand at 3.8% CAGR and reach US$ 1.25 billion by 2034.
- The market created an opportunity of US$ 114.6 million, growing at a CAGR of 3% between 2019 and 2024.
- North America is estimated to hold a market share of 28.6% by 2034.
- Leading manufacturers of isoparaffin solvents are Exxon Mobil Corporation, Royal Dutch Shell plc, and Demits Kosan Co. Ltd.
- Sales of C9-C11 product type are forecasted to increase at a CAGR of 4.2% and create an absolute $ opportunity of US$ 138.5 million between 2024 and 2034.
- Together, over the next ten years, North America and East Asia are expected to create an absolute $ opportunity of US$ 282.6 million.
Related Market Projections for 2034
| Coating Solvent Market | US$ 15 Billion |
| Halogenated Solvent Cleaners Market | US$ 1.9 Billion |
| Aromatic Solvents Market | US$ 8.5 Billion |
“Demand for isoparaffin solvents to remain substantial in the ever-growing automotive and agrochemical sectors across the world,” says a Fact.MR analyst.
Market Developments
Companies are focusing more on satisfying the market requirements of the product. As the product does not have too much differentiating aspects, companies are doing R&D for value addition to the solvent. Commercialization and development of the product are being done by partnering with end-use industries. Leading manufacturers are channelizing their efforts toward the expansion of their businesses.
• For instance, Exxon Mobil Corporation announced the building of a lubricant manufacturing plant in Maharashtra, India. The company will invest US$ 110 million in the Raigad plant.
Get Customization on this Report for Specific Research Solutions:
https://www.factmr.com/connectus/sample?flag=RC&rep_id=9996
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global isoparaffin solvent market, presenting historical data for 2019 to 2023 and forecast statistics for 2024 to 2034.
The study reveals essential insights based on product type (C4 to C8, C9 to C11, C12, C13 to C14, C15<) and application (paints & coatings, industrial, adhesives & sealants, polymerization, agrochemicals, pharma & personal care products, others), across major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia, and Pacific, and the Middle East & Africa).
Explore More Related Studies Published by Fact.MR Research:
Coating Solvent Market: The coating solvent market is estimated at USD 9,244 Million in 2022 and is projected to reach USD 14,205 Million by 2032, growing at a CAGR of 4.4% from 2022 to 2032.
Aromatic Solvents Market: The global sales of aromatic solvents valued at US$ 5.1 Billion in 2021 and market is expected to reach a valuation of US$ 8.2 Billion by 2032, growing with 3.4% CAGR during 2022 to 2032.
Halogenated Solvent Cleaners Market: The global halogenated solvent cleaners market stands at a valuation of US$ 909.5 million and is anticipated to reach US$ 1.26 billion by the end of 2032.
About Fact.MR:
Fact.MR is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning. With its unwavering dedication to providing reliable market intelligence, FACT.MR continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT.MR ensures its clients receive actionable insights to capitalize on emerging opportunities and stay ahead in the competitive landscape.
Contact:
US Sales Office
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583, +353-1-4434-232 (D)
Sales Team: sales@factmr.com
Follow Us: LinkedIn | Twitter | Blog
