Pune, India -- (SBWIRE) -- 02/07/2018 -- Competition is expected to remain high from 2017 to 2023 in the global aromatic & aliphatic solvents market owing to fragmented nature of the market. During this time, the market will witness a slew of launches as manufacturers invest in the development of bio-based solvents. According to a new study by Infinium Global Research, a paradigm shift toward bio-based and no toxic solvents is expected, which will offer a fresh burst of opportunities to the global aromatic & aliphatic solvents market. The market players are also likely to benefit from bio-based solvents.

Through the course of forecast period, application industries such as adhesives and paints & coatings among others to experience significant rise thereby increasing growth opportunities for the companies operating in this industry. In the study, Infinium Global Research has highlighted companies including BASF SE, Celanese Corporation, Chevron Phillips Chemical Company, Eastman Chemical Company, ExxonMobil Corporation, Honeywell International Inc, Ineos AG, LyondellBasell Industries N.V, Royal Dutch Shell and Sasol Ltd.

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Infinium Global Research states that the global aromatic and aliphatic solvents market at US$ 10.85 bn in 2016. Rising at a steady 2.9% CAGR between 2017 and 2023, the market is likely to value US$ 13.21 bn by the end of 2025. In 2016, Asia-pacific led the global aromatic & aliphatic solvents market, which is attributable due to presence of application industries in the primary markets of Asia-pacific such as India and China. Moreover, as per the report, due to stringent environmental regulations, the demand for conventional solvents is making way for bio-based solvents in the North America and European aromatic and aliphatic solvents markets, finds Infinium Global Research.

Rising demand in the automotive and construction industries

Rise in demand of aromatic and aliphatic solvents in automotive and construction industry due to their chemical properties such as corrosion inhibitors and intense chemical properties is likely to contribute significantly to the growth of aromatic and aliphatic solvents market in the years to come.

Increasing demand for agrochemicals and cosmetics

The increasing demand for agrochemicals and cosmetics are expected to enhance the growth of aromatic and aliphatic solvents market. Varnish and naphtha end user segments are expected to grow at a faster pace among aliphatic solvents during the forecast period. Mineral spirits replacing turpentine as thinner in the paint industry is expected to provide growth opportunities for the market. Among aromatic solvents, solvent naphtha and xylene are generating huge demand from various end user industries and it is expected to drive the growth of the market

Browse the Detailed TOC of the Report on Aromatic & Aliphatic Solvents Market: https://www.infiniumglobalresearch.com/chemical_material/global_aromatic_and_aliphatic_solvents_market

The report segments the global aromatic & aliphatic solvents market as:

Global Aromatic and Aliphatic Solvents Market, by Source
- Bio-based Source
- Conventional Source

Global Aromatic and Aliphatic Solvents Market, by Application
- Adhesives
- Agricultural chemicals
- Metal cleaning
- Paints & coatings
- Pharmaceuticals
- Personal care
- Printing inks
- Rubber & polymer

Global Aromatic and Aliphatic Solvents Market, by Type

- Based on Type aromatic solvents
a) Mineral spirits
b) Paraffinic solvents
c) Varnish and paints
d) Others

- Based on Type aliphatic solvents
a) Benzene
b) Ethyl benzene
c) Toluene
d) Xylene
e) Others