Special Boiling Points Solvents Market Size to Hit USD 1,537.68 Mn by 2027

Special boiling points solvents market to grow at a CAGR of 3.2% during 2020-2027. In 2019, Asia Pacific contributed to the largest share in the global market.

NEW YORK, UNITED STATES, November 22, 2021 /EINPresswire.com/ -- According to our latest market study on “Special Boiling Point Solvents Market Forecast to 2027 – COVID-19 Impact and Global Analysis – Solvent Base and Application”, the market was valued at US$ 1,209.57 million in 2019 and is projected to reach US$ 1,537.68 million by 2027.

Strategic Insights

Market Size Value in - US$ 1,209.57 Million in 2019
Market Size Value by - US$ 1,537.68 Million by 2027
Growth rate - CAGR of 3.2% from 2020-2027
Forecast Period - 2020-2027
Base Year - 2020
No. of Pages - 142
No. Tables - 59
No. of Charts & Figures - 74
Historical data available - Yes
Segments covered - Solvent Base , and Application
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Special boiling-point solvents, are 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.

Steady & continuous demand from paints & coatings industry to drive the global market

Increasing consumption of paints & coatings in the construction, automotive, wood industry 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 worked as carriers for resins, pigments, and other components. They help in controlling viscosity, aiding in film formation, and wetting of 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 aid in the market growth of paints & coatings market. Paints & coatings are used in the decoration & 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, wood and metal industry which further supports the demand of the product. Steady & continuous growth in these sectors has upstretched the demand of SBP solvents.

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.

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Special Boiling Point Solvents Market: Application

Based on application, the special boiling point solvents market is categorized into paints & coatings, rubbers & tires, inks, adhesives, resins, cleaning agents, and others. In 2019, the paints & coatings segment held the largest share of the global special boiling point solvents market. Special boiling point solvents are used in paint and coating formulations to dissolve other compounds, such as pigments, binders, and additives. These solvents evaporate when the paint is applied to the surface, allowing the resin and pigment to form a film of paint on the surface and dry quickly. Solvent-borne paints, also known as oil-based paints, may contain a variety of solvent combinations including aliphatic, aromatic, alcohol, ketone, and white spirit. These include organic solvents, such as petroleum distillates, esters, and glycol ethers. Solvent-borne coatings are less susceptible to environmental conditions, such as temperature and humidity, during the curing phase compared to water-based coatings. This is one of the reasons for the increasing preference for solvent-based coatings. These factors further propel the growth of the special boiling point solvents market.

Special Boiling Point Solvents Market: Competitive Landscape and Key Developments

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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