India De-aromatic Solvents Market 2016-2024

India De-Aromatic Solvents Market to Witness a CAGR of 5.7% in
Volume over 2024
Demand for de-aromatic solvents continues to surge in India. According to a new
report published by Persistence Market Research, the de-aromatic solvents market
in India is set to ride at a CAGR of 7.1% between 2016 and 2024. Increasing
concerns over the hazards caused by the use of conventional solvents and a
corresponding increase in demand for effective yet safer and eco-friendly
alternatives is expected to fuel the demand for de-aromatic solvents in India during
the assessment period. The de-aromatic market in the western part of the country
is expected to witness the highest growth, while the Northern and the Southern
parts will also continue to account for respectable market shares. On the other
hand, growth of the market will be sluggish in the eastern part of India over 2024.
The report titled “De-aromatic Solvents Market: India Industry Analysis and
Forecast, 2016-2024” reveals that in 2016, INR 2,925.9 Mn were garnered from
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India De-Aromatic Solvents Market: Key Trends
Rising preference for high flash point products for metal working and drilling fluids
applications expected to provide an impetus on the market., Some of the leading
market participants are actively focusing on offering de-aromatic solvents that cater
to specific end-use requirements., Of late, companies that are operating de-aromatic
solvents market globally, are laying emphasis on further quality improvement and
boosting the production of solvents using natural gas-based feedstock, which is
synthesized using Gas-To-Liquid (GTL) technology as against conventional oil-based
feedstock., The region of Asia Pacific is expected to be an attractive destination for
manufacturers and suppliers of de-aromatic solvents, owing to its growing demand
from some of emerging countries such as China, India and South Korea., Also,
manufacturers are channelizing resources towards ramping up production capacities
in order to cater to the soaring demand from a diverse set of industries.
Persistence Market Research’s study on the India de-aromatic solvents market
identified that the medium flash point de-aromatic solvent accounted for more than
76% value share of the market in 2016. However, the market share of medium flash
point de-aromatic solvent is likely to decline slightly during the assessment period.
Based on boiling point, type 2 (185–240°C) de-aromatic solvents are expected to
remain highly lucrative for manufacturers in India. In 2016, type 2 de-aromatic
solvent accounted for around 76.3% share in terms of value and expected to remain
dominant throughout the forecast period.
Use of de-aromatic solvents in paints, coatings and inks manufacturing is projected to
remain significantly high over the next couple of years. Meanwhile, their use in metal
working is expected to grow rapidly due to increasing adoption of less toxic and noncorrosive high flash point de-aromatized solvents in metal working applications. By
2024-end, around INR 1,112.4 Mn worth de-aromatic solvent will be used for metal
Exxon Mobil Corporation, Royal Dutch Shell plc., Mehta Petro Refineries Ltd, Raj
Petro Specialities Pvt Ltd, Eastern Petroleum Pvt. Ltd., Total S.A., and Avani
Petrochem Private Ltd are amongst some of the prominent companies that operating
in the India de-aromatic solvents market.
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