by Market Overview:
De-aromatic solvents are refined petroleum solvents that are highly suitable for applications in various end-use industries such as paints & coatings, cleaning & degreasing, cosmetics, and others. They are derived from petroleum hydrocarbon feedstock. These solvents contain less than 0.1% aromatic content, and find applications where the presence of aromatic compounds is undesirable.
Market Dynamics:
The India de-aromatic solvents market is primarily driven by the growing demand from end-use industries such as paints & coatings, cosmetics, cleaning & degreasing, and others. De-aromatic solvents are extensively used as solvents and diluents in paints and coatings formulations. Increasing demand for these solvents from the paints and coatings industry is thereby propelling the market growth. Additionally, the rising demand from cosmetics and personal care industry is also fueling the market growth. De-aromatic solvents like N-hexane and N-heptane are widely used for manufacturing personal care products such as creams, lotions, hair care products, and others. Thus, surging demand from cosmetics industry is further pushing the market growth in India.
SWOT Analysis
Strength: De Aromatic Solvents are derived from petroleum distillates through physical and chemical purification processes that remove aromatics. This makes them less toxic and hazardous than aromatics. They are also cost-effective. Good supply availability of crude oil in India.
Weakness: High dependence on crude oil prices. Crude oil price fluctuations affect the prices of de-aromatized solvents. Strict environmental regulations regarding VOC emissions increases production costs.
Opportunity: Growing paints and coatings industry in India boosts the demand for de-aromatized solvents. Increasing use of de-aromatic solvents in aerosols, household products, and cleaning agents provide new opportunities.
Threats: Stringent emission norms pose challenges to manufacturers. Availability of alternative bio-based solvents can reduce the market share of de-aromatic solvents.
Key Takeaways
The Global India De Aromatic Solvents Market Demand is expected to witness high growth, exhibiting CAGR of 7.7% over the forecast period, due to increasing demand from paints and coatings industry in India.
Regional analysis: India dominates the India De Aromatic Solvents market with over 45% share due to vast paints industry and growth of domestic manufacturing. West region is the fastest growing market due to setting up of new manufacturing plants.
Key players operating in the India De Aromatic Solvents market are Exxon Mobil Corporation, Total S.A., Royal Dutch Shell plc, Isu Exachem, Mehta Petro Refineries, Avani Petrocehm Pvt Ltd., Raj Petro Specialties P. Ltd., and Eastern Petroleum Private Limited. The key players are focusing on expanding their production capacities to cater to the growing demand in the country.
