Isoparaffin Solvents Market to Reach USD 5.3 Billion by 2029, Driven by Rising Demand in Paints & Coatings and Industrial Sectors
Market Overview:
The global isoparaffin solvents market is expected to reach USD 5.3 billion by 2029, growing at a CAGR of 4.06% during the forecast period (2023-2029). This growth is attributed to the increasingfor better synthetic solvents and the rapid advancements in the oil painting product and exploration industries.
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Report Scope:
This report provides a comprehensive analysis of the global isoparaffin solvents market, covering market size, growth trends, segmentation, key players, and regional insights. The report covers the period from 2022 to 2029, with 2022 as the base year.
Research Methodology:
The report utilizes a combination of primary and secondary research methodologies. Primary research involves interviews with key industry participants, such as manufacturers, distributors, and end-users. Secondary research involves collecting data from reliable sources, such as industry reports, government publications, and financial statements.
Market Dynamics:
The key drivers of the isoparaffin solvents market include the rising demand for better synthetic solvents, the growth of the oil painting product and exploration industries, and the increasing demand for isoparaffin solvents in various industrial sectors. However, the high cost of isoparaffin solvents compared to paraffin components may hinder the market growth.
Segmentation:
The isoparaffin solvents market is segmented by product type (C4-C8, C9-C11, C12, C13-C14, C15 < ), application (paints & coatings, industrial, metal working fluids, industrial cleaning, adhesives & sealants, polymerization, agrochemical, pharma and personal care products, others), and region (Asia Pacific, Europe, North America, Middle East & Africa, and South America).
Regional Insights:
North America held the largest market share in 2022, followed by Europe. The growth in the Asia Pacific region is expected to be the fastest during the forecast period due to the rapid industrialization and the growing demand for isoparaffin solvents in various industries.
Isoparaffin Solvents Market Key Players
1. ExxonMobil Chemical
2. Emerson
3. Synchrony
4. Braskem
5. Chevron Phillips Chemical Company
6. Total S.A
7. Idemitsu
8. Bosch Rexroth
9. Shell Chemicals
10. Maruzen Petrochemical CO., LTD
11. Fuji Electric
12. INEOS
13. RB Products, Braskem
14. Meidensha
15. Jing-Jin Electric
16. Mehta Petro Refineries Limited
17. Idemitsu Kosan Co. Ltd
18. Royal Dutch Shell Chemicals
19. Nidec
20. Luan Group
21. Neste Oyj
To gain deeper insights into the market analysis, explore the summary of the research report: https://www.maximizemarketresearch.com/market-report/global-isoparaffin-solvents-market/81277/
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