The special boiling points solvents market is expected to grow from US$ 1,209.57 million in 2019 to US$ 1,537.68 million by 2027; it is estimated to grow at a CAGR of 3.2% from 2020 to 2027.
The increasing consumption of paints & coatings in the construction, automotive, wood, 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 act like a carriers for resins, pigments, and other components. They help in controlling viscosity, aiding film formation, and wetting 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 support the growth of the paints & coatings market. Paints & coatings are used for decoration and 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 and wood and metal industry, which further supports the demand of the special boiling point solvent product. Steady and continuous growth in these sectors have propelled the demand of SBP solvents.
In 2019, Asia Pacific contributed to the largest share in the global special boiling points solvents market. The growth of the special boiling points solvents market in this region is primarily attributed to steady and continuous expansion of end use industries such as paints & coatings, printing inks, rubber & tires, and adhesives. Countries such as Australia, Japan, India, China, South Korea, Singapore, Taiwan, and Indonesia have large manufacturing industries in a diverse sector such as chemical, construction, automotive, and electronics, which has experienced a huge shift over the years. Production expenditure in the region has increased significantly over the last few years due to rapid industrialization and is expected to increase at the highest estimated growth rate, which is likely to offer lucrative business opportunities for special boiling points solvents market.
The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of January 2021, the US, Brazil, India, Russia, Spain, and the UK are among the worst affected countries in terms of confirmed cases and reported deaths. The pandemic is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The chemical and material is one of the world’s major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. Although, China is the global manufacturing hub and the largest raw material supplier for various industries, it is also one of the worst affected countries. The lockdown of various plants and factories in China is disrupting the global supply chains and hindering the manufacturing activities, delivery schedules, and various materials sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hampering the business collaborations and partnerships opportunities. All these factors are hindering the industries, thus acting as restraining factors for the growth of various markets related to this industry.
Global Special Boiling Points Solvents Market
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Market Insights
Rising Demand from Rubber Processing Industry
Rubber is treated by utilizing several types of chemicals to produce useful products such as rubber mats and automobile tires. Rubber processing chemicals include a broad range of products including anti-degradants, accelerators, and processing aids. SBP solvents play a crucial role in rubber processing. It helps to enhance the properties of rubber for its use in manufacturing of automobile tires. Hence, the increasing automobile industry is expected to increase the adoption rate of SBP solvents for rubber processing chemicals segment. Additionally, increasing technical advancements in the manufacture of automotive tires is additional factor boosting the adoption of SBP solvents for rubber processing market. SBP solvents does not only add qualities to rubber but also advances the overall manufacturing procedure of raw material for other applications including manufacturing of door mats. Though, factors such as growing environmental norms and strict governmental regulations are expected to hamper the adoption of rubber processing chemicals, rubber manufacturers are adapting to diverse chemical formulations to accomplish specific requirements of numerous end-use industries.
Solvent Base Insights
Based on Solvent Base, the global special boiling points solvents market is sub-segmented into petroleum ether, rubber solvent, and others. In 2019, the others segment dominated the market by accounting for 41.9% of the total market share. Other types of special boiling point solvents used are P-series/propylene-based glycol ethers, toluene, propylene glycol, mixed xylenes, and VM&P Naphtha. VM&P Naphtha (Varnish Maker and Painters Solvent) is an aliphatic hydrocarbon solvent with a medium boiling point and evaporation rate. It is an exceptional thinner for oil-based paints, stains, varnishes, and enamels, which has higher strength and a faster evaporation rate than thinner paint (100% mineral spirits). It is also a quick-drying thinner for brushing and spraying, which is suitable for cleaning after painting.
Global Special Boiling Points Solvents Market, by Solvent Base – 2019 and 2027
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Special Boiling Points Solvents Market: 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
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Special Boiling Points Solvents Market: 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 |
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A few key players operating in the special boiling points solvents market are 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. These companies provide a wide range of product portfolio for special boiling points solvents market. They also have their presence in the developing regions, which provides lucrative opportunities for the growth of the special boiling points solvents markets market.
Report Spotlights
- Progressive industry trends in the global special boiling points solvents market to help players develop effective long-term strategies
- Business growth strategies adopted by developed and developing markets
- Quantitative analysis of the market from 2017 to 2027
- Estimation of the demand for the special boiling points solvents market across various industries
- PEST analysis to illustrate the efficacy of buyers and suppliers operating in the industry to predict market growth
- Recent developments to understand the competitive market scenario and the demand for the special boiling points solvents market
- Market trends and outlook coupled with factors driving and restraining the growth of the special boiling points solvents market
- Decision-making process by understanding strategies that underpin commercial interest with regard to the growth of the special boiling points solvents market
- Special boiling points solvents market size at various nodes of market
- Detailed overview and segmentation of the global special boiling points solvents market as well as its dynamics in the industry
- Special boiling points solvents market size in various regions with promising growth opportunities
Special Boiling Points Solvents Market, bySolvent Base
- Petroleum Ether
- Rubber Solvent
- Others
Special Boiling Points Solvents Market, by Application
- Paints and Coatings
- Rubbers and Tires
- Inks
- Adhesives
- Resins
- Cleaning Agents
- Others
Company Profiles
- 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
- The MGT PetrOil group
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
Solvent Base , and Application
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States
Frequently Asked Questions
The major players operating in the global special boiling point solvents market are 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.
In 2019, Asia Pacific contributed to the largest share in the global special boiling points solvents market. The growth of the special boiling points solvents market in this region is primarily attributed to steady & continuous expansion of end use industries like paints & coatings, printing inks, rubber & tires, adhesives and many others. Countries like Australia, Japan, India, China, South Korea, Singapore, Taiwan, and Indonesia have large manufacturing industries in a diverse sector such as chemical, construction, automotive, electronics, and others which has experienced a huge shift over the years. Production expenditure in the region has increased significantly over the last few years due to rapid industrialization, and is expected to increase at the highest estimated growth rate which is expected to offer lucrative business opportunities for special boiling points solvents market.
The paints & coatings segment held the largest share in the global special boiling points solvents market in 2019. Special boiling point solvents are used in paint and coating formulations to dissolve other compounds, such as pigments, binders, additives, etc. These solvents are essential for coating formulations since they control the viscosity of the paints and have a substantial effect on the film quality, which is mainly dependent on the evaporation rate of the solvents during the drying period. 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 and it is expected to continue during the forecast period.
The List of Companies - Global Special Boiling Points Solvents Market
- 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
- The MGT PetrOil group
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Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
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- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
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- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
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