Report Code: A14893 | Pages: NA | Mar 2023 | 808 Views | ||
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Aliphatic Hydrocarbon Solvents And Thinners Market
Request Now !Aliphatic Hydrocarbon solvents are defined as organic compounds whose carbon atoms are linked in open chains, either straight or branched, rather than containing a benzene ring. They are mixtures of saturated, long straight, branched chain or cyclic paraffin. These solvents are manufactured by distillation of crude oil by the appropriate boiling point fraction and then treated to improve their color as well as odor. They are also known as non-aromatic compounds.
Market Scope and Structure Analysis:
Report Metric | Details |
Market Size Available for Years | 2020–2030 |
Base Year Considered | 2020 |
Forecast Period | 2021–2030 |
Forecast Unit | Value (USD) |
Segments Covered | Type, Application and Region |
COVID-19 Impact analysis
The demand for cars and commercial vehicles is expected to see decline throughout 2020 and 2021. More than 80% of automobile production in North America has come to a halt due to the COVID-19 pandemic. Europe and Asia-Pacific are witnessing a similar situation. Companies such as Ford, General Motors, Fiat Chrysler Automobiles, Honda, and Tesla have stopped production temporarily. Even if these companies resume production after the pandemic subsides, economic instability and reduction in the purchasing power of consumers will have an adverse effect on the automotive industry. The impact of COVID-19 on the construction industry is projected to vary in different regions across the world. The IMF (International Monetary Fund) has predicted that there will be heavy layoffs in the construction sector and other industries in the U.S. In Europe, the building & construction industry is anticipated to contract by 60%–70% in 2021.
Top Impacting Factors
Aliphatic hydrocarbon solvents and thinners market size will witness significant growth owing to its wide use in paints and coating industry. Wide usage of paints and coatings in general industries, marine, coil, wood, aerospace and rail have increased its demand and simultaneously boosted aliphatic hydrocarbon solvents and thinners market. They are usually added in mineral spirits, petroleum naphtha, octane and petroleum distillates to enhance its performance. The component is used as an additive in powder coating for resistance and stability. Aliphatic hydrocarbon solvents and thinner has chemical properties of thinning paints and coats, which has boosted the demand for Aliphatic Hydrocarbon solvents and thinners market.
Market Trends
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Aliphatic Hydrocarbon Solvents And Thinners Market Report Highlights
Aspects | Details |
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Key Market Players | ExxonMobil Chemical, Inc. (US),, SK Global Chemical Co., Ltd. (South Korea),, Royal Dutch Shell Plc. (Netherlands), Calumet Specialty Products Partners,, L.P. (US), Gotham Industries (Canada),, Gulf Chemicals, Industrial Oils Co., (Saudi Arabia) |
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