Asia Pacific Solvents Market Size, Share and Global Market Forecast to 2027

The report on Asia Pacific Solvents Market was recently published by SDKI, which includes the latest market trends, current and future opportunities along with the factors that are driving the growth of the market. This report further encompasses the records for the expansion of the market along with information on the investment opportunities that help the clients to take positive decisions on the parameters for gaining profitable revenues. Moreover, the report also contains identification and investigation of the market structure, in-depth qualitative analysis, restraints & challenges, growth drivers, emerging product trends & market opportunities and Porter’s five forces.

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Asia Pacific Solvents Market: Introduction

A solvent is that component of a solution, which is presented in higher amount. It is also considered a substance in which the solute is dissolved. Usually, a solvent is a liquid. However, it can be an aqueous gas, solid, or supercritical fluid.
A hydrocarbon solvent is a type of organic solvent which primarily comprises hydrogen and carbon atoms in its molecule. These solvents are produced as volatile fractions during the refining process of crude oil. Hydrocarbon solvents primarily comprise of aliphatic and aromatic solvents, which are widely used in different applications.

Aliphatic solvents are those solvents which have straight-chain structure such as hexane, kerosene, and gasoline. They are primarily used for oil extraction, manufacture of paints and coatings, and degreasing.
Aromatic solvents are solvents that have benzene ring structure present in their molecule. They are widely used for manufacture of inks, paints, agricultural chemicals, and thinners.

Oxygenated solvents have carbon, hydrogen, and oxygen atoms as key constituents of their molecular structure, which are primarily produced from olefins through various chemical reactions. These are most widely used solvents industrially. They tend to have good solvency power, and high purity. They are either completely or partly miscible with water.
Halogenated solvents are organic solvents with halogen atoms i.e. fluorine (F), bromine (Br), chlorine (Cl), or iodine (I) as a part of their molecular structure. These solvents are used for metal cleaning, dry cleaning, degreasing, printing, paint removal, and production of thermoplastics. They are employed in industries such as paper & textile, furniture, and automotive aerosols.

Increasing Demand of Paints, Coatings, and Printing Ink in Asia Pacific to Drive Solvents Market

Around 50% of the total solvents produced are used in the manufacturing of paints, coatings, and printing inks in Asia Pacific. Solvents dissolve or disperse different components such as binders, additives, pigments, and extenders used in the formulation of paints and coatings. They also help in speeding up the curing and drying process, due to which the demand for solvents is increasing. Moreover, the paints & coatings industry in Asia Pacific is expected to expand at a significant rate in the near future, owing to rapid industrialization and urbanization in the region, especially in developing countries such as China and India.
Increasing urban population across Asia Pacific is driving the demand for new residential construction. Paints and coatings form an integral part of the global building & construction industry. Thus, increasing residential construction is augmenting the paints & coatings industry in the region. The construction industry in Asia Pacific is anticipated to expand at a rate of 7%–8% in the next few years.
Demand for industrial paints is also increasing due to ongoing industrialization in Asia Pacific. Thus, these factors are projected to drive the demand for paints and coatings in the region from 2019 to 2027. This would result in increase in the demand for quick-drying paints in the region, which is expected to boost the solvents market in Asia Pacific during the forecast period.
Increasing demand for printing inks, paints, and coatings in the Asia Pacific region is expected to drive the demand for solvents in the region during the forecast period

Increasing Demand for Adhesives and Sealants in Industrial Sector to Drive Asia Pacific Solvents Market

Adhesives and sealants is another key end user of solvents in the Asia Pacific region. Solvents are used in adhesives and sealants to improve their efficiency at low temperatures, thereby maintaining an evaporation rate for better performance. Aromatic solvents are largely used in the adhesives industry, due to their high evaporation rates, which causes rise in the viscosity of adhesive films. Moreover, wetting of surface is a crucial property of an adhesive, which is achieved by dispersing or dissolving the polymer in a suitable solvent.
Adhesives and sealants are used in printing, textile, and other manufacturing industries. They are also used by retail consumers for various purposes. The drying time of solvent-based adhesives and sealants is lower than its counterparts. The quick evaporation of solvents allows the glue and any other additives to be concentrated and exposed to set.
Rising industrialization in the region, especially in developing countries such as China and India, is expected to drive the demand for adhesives and sealants in Asia Pacific during the forecast period
Thus, increasing demand for adhesives and sealants is likely to drive the solvents market in Asia Pacific during the forecast period

Increasing Environmental Concerns and Shift Toward Bio-based Solvents to Hamper Asia Pacific Solvents Market

VOC (volatile organic compounds) is one of the most commonly used terms in the solvents market. VOCs have high vapor pressure at room temperature and they easily evaporate. As a result, VOCs causes indoor and outdoor pollution. VOCs have long-term adverse health effects and hence, they are strictly regulated by various legislations. Solvents such as benzene and toluene are considered potential carcinogens and they have adverse impacts on the molecular mechanism that controls cell growth. Solvents contain high amount of VOCs and thus, several governments across the globe have issued stringent regulations regarding VOC emissions.
Usually, solvents used in paints, coatings, inks, adhesives, and consumer products are considered as VOCs. Thus, VOC emissions from products and industrial operations are significant sources of pollution worldwide. In order to reduce the pollution, several governments and regulatory agencies have formulated laws and regulations to reduce VOC emissions from a variety of sources, including products that contain solvents.
Solvents are considered toxic and hazardous for the environment and human health, primarily due to VOC emissions. Moreover, growing number of environmental regulations have resulted in a shift toward bio-based solvents as an alternative. This radical shift can be observed in almost every end-user industry including adhesives & sealants, paints & coatings, textile, cleaners, and oil-field chemicals. Bio-based solvents, unlike conventional solvents, are produced from biomass sources such as crops, forest products, aquatic biomass, and waste materials. They have low toxicity and low VOC content. They are biodegradable, which results in a safer and eco-friendly environment.
Thus, rising environmental concerns and increasing shift toward greener alternatives are expected to restrain the global solvents market during the forecast period

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New Product Development to Provide Opportunities to Solvents Market in Asia Pacific

Technological advancements in solvents in order to make them more eco-friendly are estimated to create lucrative opportunities for solvent manufacturers in the next few years. Companies with a focus on continuous improvements in the production process and research and development of new and eco-friendly products are projected to offer immense opportunities to the solvents market in Asia Pacific during the forecast period.
Companies can invest in the launch of innovative products, such as water-based solvents, for use in industrial applications to increase sales of their products. This is likely to boost the demand for solvents in end-use applications during the forecast period.
Demand for products such as printing inks, paints & coatings, and adhesives & sealants has been increasing at a high rate in the last few years, especially in China and India, due to increasing demand for these products from various end-user industries such as construction, packaging, and manufacturing. This is expected to create opportunities for the solvents market in Asia Pacific in the near future. Key local and international players operating in these countries are planning to be price competitive so as to maintain their market share.
Solvent manufacturers can also focus on expanding their production output capacities in order to meet the increasing demand in the region. Established players are upgrading their production facilities and are increasing their production in order to meet the risen demand for solvents in the region.

Recent Developments, Expansions, Acquisitions, and New Contracts in Asia Pacific Solvents Market

In 2019, Indian Oil Corporation Ltd announced its plans to invest US$ 27.8 Bn in the next five to seven years to expand its refining, marketing, petrochemical, and natural gas business divisions
In 2018, Yip’s Chemical Holdings Limited announced to have completed the acquisition of the coatings businesses of DGL Camel (Hong Kong) Limited
Also, in 2018, Cabot Microelectronics Corporation announced that the company had entered into a definitive agreement to acquire KMG Chemicals, Inc.
In 2017, Indian Oil Corporation Ltd announced its plans to invest US$ 4.4 Bn to ramp up its petrochemical production by 2021

China to be a Highly Lucrative Country of Asia Pacific Solvents Market

China dominated the solvents market in Asia Pacific in 2018. The country is anticipated to continue its dominance in the near future. This can be ascribed to increase in the consumption of paints and coatings along with the rising demand for adhesives and sealants from industries such as construction and packaging in the region.
The India and ASEAN markets are likely to be moderately attractive during the forecast period, while Rest of Asia Pacific and Japan are likely to be less attractive markets during the forecast period

Highly Competitive Asia Pacific Solvents Market

The Asia Pacific solvents market is highly competitive. Various international and locally organized players operate in the market. Scale of operations, quality expertise, and product differentiation are also high.
Key players operating in the Asia Pacific solvents market are

Anjanee Chemical India
Asia Pacific Petrochemical Co.Ltd
Yip's Chemical Holdings Limited
Royal Dutch Shell plc
Exxon Mobil Corporation
Hindustan Petroleum Corporation Limited
KMG Singapore Pte. Ltd
BASF SE
AGC Chemicals
Idemitsu Kosan Co., Ltd.
Occidental Petroleum Corporation
Jun Yuan Petroleum Group
Asia Petrochemicals LLC
Eastman Chemical Company

Asia Pacific Solvents Market – Scope of the Report

A latest study analyzes the historical and present-day scenario of the Asia Pacific solvents market in order to accurately gauge its growth potential. The study presents detailed information about important drivers, restraints, and trends that are creating a landscape for growth of the Asia Pacific solvents market in order to identify opportunities for market stakeholders. The report also provides insightful information about how the Asia Pacific solvents market would expand during the forecast period i.e. 2019–2027.

The report offers intricate dynamics about different aspects of the Asia Pacific solvents market, which aids companies operating in the market in making strategic decisions. The study also elaborates on significant changes that are anticipated to configure growth of the Asia Pacific solvents market during the forecast period. It also includes key indicator assessment that highlights growth prospects for the Asia Pacific solvents market and estimates statistics related to the market, in terms of value (US$ Mn) and volume (Kilo Tons).

This study covers detailed segmentation of the Asia Pacific solvents market, along with key information and a competition outlook. The report mentions company profiles of players that are currently dominating the Asia Pacific solvents market, wherein various developments, expansions, and winning strategies practiced by these players have been presented in detail.

Key Questions Answered in the Report on Asia Pacific Solvents Market

The report provides detailed information about the Asia Pacific solvents market on the basis of comprehensive research on various factors that are playing a key role in accelerating growth of the Asia Pacific market. Information mentioned in the report answers path-breaking questions for companies that are currently operating in the Asia Pacific market and are looking for innovative methods to create a unique benchmark in the market so as to help them design successful strategies and make target-driven decisions.

Which type segment of the Asia Pacific solvents market would emerge as a revenue generator for the market during the forecast period?
How are key market players successfully earning revenues in the Asia Pacific solvents market?
What would be the Y-o-Y growth trend of the Asia Pacific solvents market between 2019 and 2027?
What are the winning imperatives of leading players operating in the Asia Pacific solvents market?

Research Methodology – Asia Pacific Solvents Market

The research methodology adopted by analysts for compiling the report on the Asia Pacific solvents market is based on detailed primary as well as secondary research. With the help of in-depth insights of the market-affiliated information obtained and legitimated by market-admissible resources, analysts have offered riveting observations and authentic forecasts of the Asia Pacific solvents market.

During the primary research phase, analysts have interviewed market stakeholders, investors, brand managers, vice presidents, and sales & marketing managers. On the basis of the data obtained through interviews of genuine resources, analysts have emphasized the changing scenario of the Asia Pacific solvents market.

For secondary research, analysts have scrutinized numerous annual report publications, white papers, market association publications, and company websites to obtain the necessary understanding of the Asia Pacific solvents market.

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Table of Content
1. Executive Summary

1.1. Market Outlook

1.2. Key Facts and Figures

1.3. Key Trends

2. Market Overview

2.1. Market Segmentation

2.2. Market Indicators

3. Market Dynamics

3.1. Drivers and Restraints Snapshot Analysis

3.1.1.1. Drivers

3.1.1.2. Restraints

3.1.1.3. Opportunities

3.2. Porter’s Five Forces Analysis

3.2.1. Threat of Substitutes

3.2.2. Bargaining Power of Buyers

3.2.3. Bargaining Power of Suppliers

3.2.4. Threat of New Entrants

3.2.5. Degree of Competition

3.3. Regulatory Scenario

3.4. Volume Chain Analysis

3.5. List of Type Providers

4. Import–Export Analysis

4.1.1. Import Analysis

4.1.2. Export Analysis

5. Price Trend Analysis

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