The latest research study “Special Boiling Point Solvents Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the global special boiling point solvents market size reached US$ 2.53 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 3.46 Billion by 2027, exhibiting a growth rate (CAGR) of 5.20% during 2022-2027.
Special boiling point solvents or SBP solvents represent fast and medium evaporating fluids manufactured from naphthenic hydrocarbons and paraffinic with extremely low aromatic contents. They are of several types, such as petroleum ether, toluene, varnish makers and naphtha (VM & N), and rubber solvent. Special boiling point solvents exhibit significantly low benzene and total aromatics with virtually undetectable levels of polycyclic aromatics and are extensively utilized as cleaning agents, auxiliaries, extractants, and degreasing agents. They help in film formation, controlling viscosity, and wetting pigments and substrates that assist with dispersion and adhesion. Consequently, special boiling point solvents find utilization across numerous sectors, including paints and coatings, rubber, automotive, cosmetics, etc.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Special Boiling Point Solvents Market Trends and Drivers:
The increasing demand from the paint and coating industry to control viscosity, ensure quick drying, and dissolve compounds, such as binders, pigments, and additives, is primarily driving the special boiling point solvents market. In addition to this, the growing use of SBP solvent-based paints and coatings in automotive and construction industries for corrosion protection, hardness, anti-friction, and prevention of external damages is also positively influencing the global market. Furthermore, the escalating product usage in the rubber industry to enhance the processing of raw materials and offer adhesion to rubber layers before vulcanization in the production of various goods, which include tires and door mats, is acting as another significant growth-inducing factor. Apart from this, the elevating need for the solvent to produce printing inks, adhesives, processing polishes, cleaning agents, waterproofing compounds, etc., is further stimulating the market growth. Moreover, the rising adoption of the product as an extractant to manufacture edible oils, aromatics, and fats is expected to propel the special boiling point solvents market in the coming years.
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Special Boiling Point Solvents Market Report Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Banner Chemicals Limited (2M Holdings Group), Bharat Petroleum Corporation Limited, Compañía Española de Petróleos S.A.U., DHC Solvent Chemie GmbH, ExxonMobil Corporation, Ganga Rasayanie Pvt Ltd, Gulf Chemicals and Industrial Oils Co., HCS Group GmbH, KH Chemicals BV and Shell plc.
The report has been segmented the market into following categories:
Breakup by Solvent Base:
- Petroleum Ether
- Rubber Solvent
- VM and P Naphtha
Breakup by Application:
- Paints and Coatings
- Adhesives
- Rubbers and Tires
- Resins
- Cleaning Agents
- Others
By Geography:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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