IGR Aromatic and Aliphatic Solvents Market | Page 2

The report on Aromatic and Aliphatic Solvents Market by source (bio-based, conventional source), by application
(metal cleaning, paints & coatings, pharmaceuticals, personal care, printing inks and rubber & polymer), by
type(mineral spirits, paraffinic solvents, varnish & paints) trends analysis and forecasts up to 2023 studies the
market sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-Pacific,
Rest of the World. According to the report the Global Aromatic and Aliphatic Solvents Market is projected to grow
at a CAGR of between 2.5% to 3.5% in terms of value over the period of 2017-2023. The growth in the world
market is primarily driven by significant contribution by North America (Leading region) region to this market.
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Market Insights
The aromatic solvents market size was more than USD 5.40 billion in 2015. The global aromatic and aliphatic
solvents market is projected to reach USD x.xx billion by 2023, growing with a CAGR between 2.5% to 3.5% from
2017 to 2023. The demand in the industries such as automotive and construction sector are expected to drive the
growth in the aromatic and aliphatic solvents market, as the solvents are utilized for removing grease and oil.
Increasing demand from industries such as adhesives, sealants, paint and coatings for aliphatic solvents, due to its
intense chemical and properties is expected to drive the growth of the market. Among aromatic solvents, solvent
naphtha and xylene are generating huge demand from various end user industries and it is expected to drive the
growth of the market. The increasing demand for agrochemicals and cosmetics are expected to enhance the
growth of market. Varnish and naphtha end user segments are expected to grow at a faster pace among aliphatic
solvents during the forecast period. Mineral spirits replacing turpentine as thinner in the paint industry is
expected to provide growth opportunities for the market. The health hazards related to solvents such as benzene
due to their toxic nature and the stringent government regulations for organic chemicals are expected to be the
restraining factors in the aromatic and aliphatic solvents market. The availability of environmental friendly
alternatives for aromatic and aliphatic solvents poses a major challenge to the growth of the market, due to