Global Isoparaffin Solvents Market: Overview
Isoparaffin is an important class of hydrocarbon solvents primarily used for industrial applications. Isoparaffin solvents are used in a wide diversity of applications, such as fluids in metalworking; industrial cleaning products; as solvents for paints and coating, adhesives and sealant; and products for photocopiers. Pure grade isoparaffin solvents are typically produced through distillation and catalytic cracking. Properties typical of these grades can be better solvency, high flash point, low pour point, and excellent safety profiles. As pure grades are increasingly inert, they find use in food contact materials applications. A combination of higher compatibility, increased safety, and low odor properties that isoparaffin solvents possess is key to their rising demand in various industrial applications.
The rising use of isoparaffin solvents in making low-odour paints for the furniture, wood, and building interiors is a key factor driving the isoparaffin solvents market. Isoparaffin solvents are typically produced through the distillation of crude oil during the refinery process. Advantage of better fuel characteristics of isoparaffin solvents over those of paraffin is a key proposition accounting for their thriving demand.
The report offers critical assessment of key growth dynamics, lucrative avenues, and prevailing end-use demand trends that shape the contours of the global isoparaffin solvents market.
Global Isoparaffin Solvents Market: Trends and Opportunities
The rising demand for better synthetic solvents is a key factor driving the isoparaffin solvents market. The global isoparaffin solvents market is garnering constant substantial gains from rapid strides in oil production and exploration industries in various parts of the world. The growing demand for isoparaffin solvents in various industrial sectors in developing and developed regions is also bolstering the growth of the isoparaffin solvents market. In the industrial sector, widespread demand for these solvents is contributed by industrial cleaning and metalworking applications. Rising use of isoparaffinic petroleum hydrocarbons for inks for food contact materials is also propelling the uptake of isoparaffin solvents in the food industry.
The global isoparaffin solvents market is expected to gain substantial revenues from their rising demand for polymerization. Rapid strides made by the petro-chemicals and automotive industries will fuel the rapid expansion of the market. However, over the past few years, the consumption of isoparaffin solvents has dampened to an extent, owing to their higher cost than that of paraffin components. In recent years, vendors are increasingly looking to offer high-value solvents and meet the current customization product portfolio needs. This is likely to create new avenues in the isoparaffin solvents market.
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Global Isoparaffin Solvents Market: Regional Outlook
The study takes a closer look at the key regional dynamics and sheds lights on various lucrative regional isoparaffin solvents market. It highlights prominent trends that could likely drive high-revenue generating markets. The analysis evaluates key end-use industry trends that are likely to attract sizeable investments in key regional markets. Rapid pace of industrialization in developing regions are likely to make these markets increasingly lucrative over the coming years. Developed regions are expected to present substantial revenues to the global isoparaffin solvents market. The growth is fueled by burgeoning demand in key-end industries.
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Global Isoparaffin Solvents Market: Competitive Landscape
The global isoparaffin solvents market is likely to witness a dynamic vendor landscape characterized by rising number of consolidation and expansion activities. Top players are also focusing on expanding their production capacities as one of the key strategic moves in order to gain stronghold in the market. Some of the prominent players in the global isoparaffin solvents market are Chevron Phillips Chemical Company, Idemitsu Kosan Co. Ltd, ExxonMobil Chemical, Neste Oyj, Total S.A., and Shell Chemicals.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.