What is Global Solvent Naphtha (Petroleum) Heavy Arom Market?
The Global Solvent Naphtha (Petroleum) Heavy Arom Market is a specialized sector within the petroleum industry that focuses on the production and distribution of a specific type of solvent known as heavy arom. This solvent is derived from petroleum and is characterized by its high aromatic content. The market for this product is global in nature, meaning it involves the production, distribution, and sale of the product across different countries and regions. The solvent is used in a variety of industries, including the manufacturing of paints, coatings, rubber, resin, and agrochemicals, among others. It is also used in industrial cleaning processes and in the production of printing inks. The market is driven by the demand for these products and services, and its growth is influenced by factors such as technological advancements, economic conditions, and regulatory policies.
C9-C10 Solvent Naphtha (Petroleum) Heavy Arom, C11-C12 Solvent Naphtha (Petroleum) Heavy Arom, Others in the Global Solvent Naphtha (Petroleum) Heavy Arom Market:
The Global Solvent Naphtha (Petroleum) Heavy Arom Market is segmented based on the type of solvent naphtha. These include C9-C10 Solvent Naphtha, C11-C12 Solvent Naphtha, and others. The C9-C10 and C11-C12 types refer to the number of carbon atoms in the solvent molecules, with the C9-C10 type having 9 to 10 carbon atoms and the C11-C12 type having 11 to 12 carbon atoms. The different types of solvent naphtha have different properties and uses, which influence their demand in the market. For instance, the C9-C10 type is commonly used in the production of paints and coatings, while the C11-C12 type is used in the production of rubber and resin. The 'others' category includes various other types of solvent naphtha that are used in different industries.
Paints & Coatings, Agro Chemicals, Rubber & Resin, Printing Inks, Industrial Cleaning, Others in the Global Solvent Naphtha (Petroleum) Heavy Arom Market:
The Global Solvent Naphtha (Petroleum) Heavy Arom Market finds its application in a number of areas. These include the production of paints and coatings, agrochemicals, rubber and resin, printing inks, and industrial cleaning, among others. In the paints and coatings industry, the solvent is used to dissolve or disperse various components, such as pigments and resins, to create a smooth and uniform product. In the agrochemicals industry, it is used in the formulation of pesticides and fertilizers. In the rubber and resin industry, the solvent is used in the production process to improve the properties of the final product. In the printing inks industry, it is used to dissolve the ink and improve its flow properties. In industrial cleaning, the solvent is used to remove dirt, grease, and other contaminants from various surfaces.
Global Solvent Naphtha (Petroleum) Heavy Arom Market Outlook:
The outlook for the Global Solvent Naphtha (Petroleum) Heavy Arom Market is positive, with the market expected to grow at a steady pace in the coming years. As of 2022, the market was valued at US$ 4279.8 million and is projected to reach US$ 5080.2 million by 2029, growing at a compound annual growth rate (CAGR) of 1.4% during the forecast period from 2023 to 2029. This growth is expected to be driven by the increasing demand for the product in various industries, including paints and coatings, agrochemicals, rubber and resin, and printing inks, among others. The market is dominated by a few key players, including Shell and ExxonMobil, which together hold around 30% of the total market share. These companies have a strong presence in the market and have established strong relationships with customers, which gives them a competitive advantage.
| Report Metric | Details |
| Report Name | Solvent Naphtha (Petroleum) Heavy Arom Market |
| Accounted market size in 2023 | US$ 4676.4 million |
| Forecasted market size in 2029 | US$ 5080.2 million |
| CAGR | 1.4 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Shell, ExxonMobil, TotalEnergies, SK Geo Centric, Hanwha Total, Flint Hills Resources, Haltermann Carless, Braskem, DHC Solvent Chemie GmbH, Ganga Rasayanie Pvt Ltd, Sinopec, CNPC, Jiangsu Hualun, Suzhou Jiutai Group |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
