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Increase in the use of De-Aromatic Solvent for industrial cleaning is expected to drive the adoption of these solvents during the forecast period

<strong>Increase in the use of De-Aromatic Solvent for industrial cleaning is expected to drive the adoption of these solvents during the forecast period</strong>

The global de-aromatic solvent market is poised to reach US$ 2.2 billion in 2023 and accelerate at a robust 6.2% CAGR between 2023 and 2033. As per the report, the worldwide de-aromatic solvent market is expected to be valued at US$ 4.0 billion in 2033

Paints and coatings industry is one of the significant drivers for the global de-aromatic solvent market. The increasing demand for water-borne paints and coatings, that use less volatile organic compounds, is anticipated to drive de-aromatic solvent demand during the forecast period. Currently, paint & coatings formulation segment holds around 27.2% share of the global market.

Key Trends:

  • Growing demand for bio-based de-aromatic solvents is witnessed in the market. These are made from renewable raw materials and are more environmentally friendly.
  • Companies are investing in R&D to develop new de-aromatic solvents with improved performance characteristics, which will drive growth in the market.
  • As consumers become more environmentally conscious, there is a growing demand for bio-based solvents made from renewable sources such as corn, sugarcane, and potatoes. These solvents are considered more sustainable and biodegradable than traditional petrochemical-based solvents.

Drivers:

  • De-aromatized solvents offer various benefits such as low VOC content, high occupational exposure limits, and low toxicity. These features offer various benefits that act as a driver for the growth of the market.
  • Growing paint and coat industry is expected to boost the adoption of de-aromatic solvents during the forecast period. Apart from this, demand for paints from various other industries such as marine, and aerospace is expected to drive the adoption of the solvents.
  • De-aromatic solvents are less toxic than traditional aromatic solvents, which makes them a safer alternative for workers in industries such as printing, coatings, and cleaning.
  • There is a growing demand for products that are less harmful to the environment and de-aromatic solvents are becoming increasingly popular in the formulation of eco-friendly products. Besides this, the development of new de-aromatic solvents with improved performance characteristics is driving the growth of the market.
  • Development of more efficient and cost-effective production processes: Companies are investing in new technologies to improve the efficiency and cost-effectiveness of de-aromatized solvent production processes. This includes the use of catalytic processes, alternative synthesis routes, and improved distillation methods.

Restraints:

  • De-aromatic solvents are more expensive than traditional aromatic solvents. Besides this, the production of de-aromatic is limited which can offer supply constraints.
  • There is limited awareness about de-aromatic solvents, which can make it difficult for companies to market and sell them effectively.

Regional Overview:

  • The de-aromatic solvents market in the United States is growing at a substantial rate due to increasing environmental concerns, regulations, and demand for eco-friendly products. Government regulations, such as the Environmental Protection Agency’s (EPA) regulations on Volatile Organic Compounds (VOCs), are driving the demand for de-aromatic solvents as a safer alternative to traditional aromatic solvents.
  • Market in Asia-Pacific is expected to witness significant growth during the forecast period due to the major usage of solvents in various industries in China and India. Moreover, in Asia Pacific, there is a growing awareness of the negative impact of toxic solvents on the environment. In fact, governments are also imposing stricter regulations on their usage in the countries.
  • Government regulations, such as the European Union’s (EU) regulations on Volatile Organic Compounds (VOCs), are driving the demand for de-aromatic solvents as a safer alternative to traditional aromatic solvents. The coatings, inks, and cleaning industries are major end-users of solvents in Europe, and they are increasingly adopting de-aromatic solvents as a safer alternative.

Competitive Landscape:

Key players in the market are investing in new technologies to improve the efficiency and cost-effectiveness of de-aromatized solvent production processes. These processes include alternative synthetic routes and improved distillation methods.

Large players are investing in new technologies to improve the purity of their solvents and meet the growing demand. The demand for high-purity solvents is increasing, particularly in the pharmaceutical and electronics industries. This is due to the need for solvents with low levels of impurities that can affect product quality and safety.

These insights are based on a report on De-aromatic Solvents Market by Fact.MR.