Europe Special Boiling Point Solvents Market is expected to reach US$ 293.70 million by 2027

Paints and Coatings Segment to Dominate Europe Special Boiling Point Solvents Market during 2020-2027

According to a new market research study on “Europe Special Boiling Point Solvents Market to 2027 – COVID-19 Impact and Regional Analysis and Forecast – by Solvent Base, Application, and Country,” is expected to reach US$ 293.70 million by 2027 from US$ 234.89 million in 2019. The market is estimated to grow at a CAGR of 3.0% from 2020 to 2027. The report provides trends prevailing in the Europe special boiling point solvents market along with the drivers and restraints pertaining to the market growth. Rise in demand from paints & coatings industry and n upsurge in demand from rubber processing industry are the major factors driving the growth of the Europe special boiling point solvents market. However, the Stringent regulations pertaining to production and use of SBP solvents may hinder the growth of Europe special boiling point solvents market.

In case of COVID-19, in Europe, especially France, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of solvents manufacturing activities. Other chemical and materials manufacturing sector has subsequently impacted the demand for special boiling point solvents during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to discontinuation of solvents manufacturing projects, thereby reducing the demand for special boiling point solvents. Similar trend was witnessed in other European countries, i.e., Russia, UK, Italy, Spain and Germany. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.

The market for Europe special boiling point solvents is segmented into solvent base, application, and country. Based on solvent base, the market is segmented into petroleum ether, rubber solvent, and others. In 2019, the others segment held the largest share in Europe special boiling point solvents market. Based on application, the Europe special boiling point solvents is bifurcated into paints and coatings, rubbers and tires, inks, adhesives, resins, cleaning agents, and others. The paints & coatings segment is expected to be the fastest growing segment over the forecast period. Furthermore, in this present scenario of COVID 19 pandemic, the Europe special boiling point solvents market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the European countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for special boiling point solvents.

Royal Dutch Shell Plc, Exxon Mobil Corporation, Total SA, Bharat Petroleum Corporation Limited, Brenntag Holding GmbH, Calumet Specialty Products Partners, L.P., HCS Group GmbH, and KH Chemicals are some of the leading companies in the Europe special boiling point solvents market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The report segments the Europe Special Boiling Point Solvents market as follows:

• Petroleum Ether
• Rubber Solvent
• Others

• Paints and Coatings
• Rubbers and Tires
• Inks, Adhesives
• Resins
• Cleaning Agents
• Others

• Germany
• France
• Italy
• UK
• Russia
• Rest of Europe