Global Isoparaffin Solvents Industry valued approximately USD 142.30 million in 2017 is anticipated to grow with a healthy growth rate of more than 3.6% over the forecast period 2019-2025. The Isoparaffin Solvents Industry is continuously growing in the global scenario at significant pace. Isoparaffin is an important class of hydrocarbon solvents primarily used for industrial applications. Isoparaffin solvents are used in a wide diversity of applications, such as fluids in metalworking; industrial cleaning products; as solvents for paints and coating, adhesives and sealant; and products for photocopiers. Pure grade isoparaffin solvents are typically produced through distillation and catalytic cracking. Properties typical of these grades can be better solvency, high flash point, low pour point, and excellent safety profiles. Rapid industrialization, rising demand for synthetic solvents and increasing demand for quality metal-cutting activities are the substantial driving factors of the Industry during the forecast period. Additionally, growth in agriculture and agrochemical industry has further fueled the adoption of these chemicals as supporting agents for various process in the industry. Moreover, rising use of isoparaffinic petroleum hydrocarbons for inks for food contact material is the factors that likely to create numerous opportunity in the near future. However, high cost associated with this chemical is one of the major factors that limiting the growth of the Industry during the forecast period.
The regional analysis of Global Isoparaffin Solvents Industry is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. Asia-Pacific is the leading/significant region across the world in terms of Industry share due to increasing industrialization and high demand for isoparaffin solvents in the emerging economies such as India and China. Europe is estimated to grow at stable growth rate in the global Isoparaffin Solvents Industry over the upcoming years. Further, North America is anticipated to exhibit higher growth rate / CAGR over the forecast period 2019-2025 due to high growth in end-user industries in the region.
Isoparaffin Solvents Industry Share and Size by 2019-2025
Isoparaffin Solvents Market Segmentation:
Paints & Coatings
* North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
Major Market Players in Isoparaffin Solvents Market are as follows:
Chevron Philips Chemical Company