Isoparaffin Solvents Market – Increase in Usage from Paints & Coatings Manufacturing is Expected to Lead the Market Growth – Growing at a Compound Annual Growth Rate (CAGR) 3.5% from 2022 to 2028

Isoparaffin Solvents
  • Isoparaffin Solvents Market

As stated in our extensive report; the Global Isoparaffin Solvents Market accounted forUSD 782.5 Millionin 2021.

Growing usage ofIsoparaffin Solventsin paints and coatings manufacturing is a crucial driver of the prospective market ofIsoparaffin Solventsbecause there are many advantages in use by these solvents, which make them a great option to utilize in paints and coatings production.

The Isoparaffin Solvents market is to ascend rapidly in the estimated period as there is an increase in demand for Isoparaffin Solvents in several industrial sectors in developing and developed nations.

Increasing demand for better synthetic solvents is also the key trend driving the market growth.

Factors Influencing Global Isoparaffin Solvents Market Growth

The growth of the global Isoparaffin Solvents market can be attributable to the following:

  1. Isoparaffinic hydrocarbon is highly utilized as a solvent and diluent for the active ingredients of insecticide or pesticide formulations. Therefore, the rise in pesticide usage in farming and agriculture to reduce insect outbreaks, control weeds growth, and lower the spread of diseases is stimulating market development.
  1. Another aspect driving this market's expansion is encouraging the growth of major industries, including automotive, agriculture, and building & construction.
  1. The advantage of superior fuel characteristics of Isoparaffin Solvents over paraffin will likely fuel the market demand.
  1. Consumption of personal care products such as skin care, hair serum, body wash, and lip care are other vital factors fuelling the growth of Isoparaffin Solvents market.
  1. Rapidly rising industrialization in promising markets of India, China, and ASEAN countries across the SEAP region generate massive demand for Isoparaffin Solvents during the forecast period.

However, Isoparaffin Solvents are more expensive than paraffin components which might be a restraining factor and can be challenging for their usage among consumers.

North America region Dominates the Global Market

Geographically,North Americaholds the largest market share in theIsoparaffin Solventsmarket and will likely continue this trend in the coming years. InNorth America, the United States and Canada regions are significant contributors. Regulation growth to reduce the environmental and health effects caused by utilizing solvents in different industries is expected to stimulate regional market growth during the forecast period. In addition, rapid suburbanization and the prominent presence of the automobile industry are driving market growth in this region. The rapid growth of the automobile industry is up-scaling the potential of theIsoparaffin Solventsindustry in this region, which is primarily because of the growing usage of these chemicals in the form of adhesives, sealants, paints, and lubricating additives at the time of the processes of vehicles manufacturing.

Conclusion

As per our recent study report, the ever-increasing product use in developing low-odor paints & coatings for residential and commercial building interiors & wood industry has positively impacted the overall Isoparaffin Solvents market.

The well-known players of the Global Isoparaffin Solvents Market include Exxon Mobil Corporation, Royal Dutch Shell PLC, Demits Kosan Co. Ltd, Chevron Phillips Chemical Company, Total S.A., Mehta Petro Refineries Limited, RB Products Inc., Maruzen Petrochemical Co. Ltd., Braskem and others.