Global Isoparaffin Solvents Market to Grow at a CAGR of 3.5% During 2024-2032, Driven by the Increasing Demand for Better Synthetic Solvents

The global market for isoparaffin solvents is anticipated to grow in the forecast period of 2024-2032 owing to factors such as the rising demand for better synthetic solvents. The widespread use of isoparaffin solvents in various end-use industries is also aiding the market growth. Rapid urbanisation and growing agrochemical activities are among the major factors driving the market growth, especially in emerging economies.

Some of the major players in the market are Chevron Phillips Chemical Company, Exxon Mobil Corporation, and TotalEnergies SE (NYSE: TOT), with their isoparaffin solvents portfolio serving an extensive range of industries, such as cleaning, printing, painting, photocopying, and in the manufacturing of wallpapers, among others. The global isoparaffin solvents industry is being catalysed by not just the extensive product portfolio offered by the major players in the industry, but also by the product innovations by these players, especially in the development of eco-friendly products. In 2016, as a part of Total’s BioLife range, the company introduced its new biodegradable isoparaffin products. Such developments are expected to continue to catalyse the market growth in the coming years.

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Market Analysis by Type, Application, and Region:

• The market, based on type, can be divided into C4-C8, C9-C11, C12, C13-C14, and C15<, among others.

• Based on application, the market is segmented into agrochemical, metal working, paints and coatings, polymers, pharmaceutical, and personal care, among others. 

• The regional markets for isoparaffin solvents include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

Key Findings of the Report:

• The isoparaffin solvents industry is being driven by the rising demand for better synthetic solvents.

• The rapidly growing end use industries are contributing significantly to the market growth, especially in emerging economies.

• The outstanding properties of isoparaffin solvents are helping it make its way into the end-use industries.

• The market is expected to witness further expansion in the coming years due to a huge increase in agricultural and agrochemical industries.

Key Offerings of the Report:

• The EMR report gives an overview of the global market for isoparaffin solvents for the periods (2018-2023) and (2024-2032).

• The report also offers the historical (2018-2023) and forecast (2024-2032) markets for the types, applications, and regional markets of isoparaffin solvents.

• It assesses the regional price trends for the (2018-2023) and (2024-2032) periods. 

• The report analyses the market dynamics, covering the key demand and price indicators in the market, along with an assessment of the SWOT and Porter’s Five Forces models.

The major players in the global isoparaffin solvents market are Chevron Phillips Chemical Company, Idemitsu Kosan Co. Ltd, Exxon Mobil Corporation, Total S.A., Royal Dutch Shell plc, and Braskem S.A., among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.

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