The North America special boiling point solvents market is a highly fragmented market with the presence of considerable regional and local players providing numerous solutions for companies investing in the market arena. The North American region constitutes developed economies such as US, Canada, and Mexico as a developing nation. Variety of SBP solvents are used in printing inks. For instance, aliphatic solvents like naphtha; paraffin hydrocarbons like pentane, hexane, heptane, isooctane, and mineral oil; and aromatic solvents like benzene, toluene, and xylene are among the most commonly used solvents for printing inks. The properties such as solvency, solvent stability, good flow, dilutability, remarkable gloss is among the key parameters that help to choose suitable solvent depending upon application. SBP solvents that possess numerous features and functionalities such as good surface appearance and ink performance have greater demand for specialized printing needs. For instance, these solvents can be easily employed on metals, glass, ceramics, textiles, and other substrates. They are also used to print on rigid surfaces. Quick drying and high ink saturation, versatility, durability of these solvents boost their requirement in niche applications. The market for printing inks is experiencing moderate growth which is expected to continue in the near future. Applications such as commercial printing, publications, packaging, corrugated cardboard, and others have led to burgeoning North America demand for inks which indirectly supports the demand for SBP solvents.
In case of COVID-19, in North America, especially the US, 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 North American countries, i.e., Mexico, Canada, Panama, and Costa Rica. 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.
Market Overview and Dynamics
The special boiling point solvents market in North America is expected to grow from US$ 296.83 million in 2019 to US$ 379.81 million by 2027; it is estimated to grow at a CAGR of 3.3 % from 2020 to 2027. Rubber is treated by utilizing several types of chemicals in order to produce significantly useful products such as rubber mats and automobile tires. Rubber processing chemicals includes a broad range of products including anti-degradants, accelerators and processing aids among others. SBP solvents plays crucial role in rubber processing. It helps to enhance the properties of rubber for its use in manufacturing of automobile tires. Hence, the increasing automobile industry is expected to expand the total growth of SBP solvents for rubber processing chemicals segment. Additionally, increasing technical advancements in the manufacture of automotive tires is additional major factor boosting the growth of SBP solvents for rubber processing market. SBP solvents does not only add qualities to rubber but also advances the overall manufacturing procedure of raw material for other applications including manufacturing of door mats. Though, factors such as growing environmental norms and strict governmental regulations are expected to hamper the growth of rubber processing chemicals rubber manufacturers are adapting to diverse chemical formulations to accomplish specific requirements of numerous end-use industries.
Key Market Segments
Based on solvent base, the others segment accounted for the largest share of the North America special boiling point solvents market in 2019. Based on application, the paints & coatings segment held a larger market share of the North America special boiling point solvents market in 2019. Other types of special boiling point solvents used are P-series / propylene-based glycol ethers, toluene, propylene glycol, mixed xylenes., V.M. & P. Naphtha. VM&P Naphtha stands for Varnish Maker and Painters Solvent, is an aliphatic hydrocarbon solvent with a medium boiling point and evaporation rate. It is an exceptional thinner for oil-based paints, stains, varnishes, and enamels, which has higher strength and a faster evaporation rate than thinner paint (100 percent mineral spirits). It is also a quick-drying thinner for brushing and spraying, which is great for cleaning after painting. Moreover, it produces a sweeter smell than other solvent bases. In addition, this chemical is one of the best options for solvent-based finishing and will be one of the most popular options for long-lasting projects. It is mainly used as a feedstock for the catalytic reforming process, which produces a high-octane gasoline portion. It's also used in the chemical industry for solvent (cleaning) applications and in the petrochemical industry for producing olefins in steam crackers.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the North America special boiling point solvents market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report include Royal Dutch Shell Plc, Exxon Mobil Corporation, Total SA, Brenntag Holding GMBH, Calumet Specialty Products Partners, L.P., HCS Group GmbH, and KH Chemicals BV.
Reasons to buy report
North America Special boiling Point Solvents Market Segmentation
North America Special Boiling Point Solvents Market -By Solvent Base
North America Special Boiling Point Solvents Market -By Application
North America Special Boiling Point Solvents Market – By Country
North America Special boiling point solvents Market – Company Profiles
| Report Attribute | Details |
|---|---|
| Market size in 2019 | US$ 296.83 Million |
| Market Size by 2027 | US$ 379.81 Million |
| CAGR (2020 - 2027) | 3.3 % |
| Historical Data | 2017-2018 |
| Forecast period | 2020-2027 |
| Segments Covered |
By Solvent Base
|
| Regions and Countries Covered |
North America
|
| Market leaders and key company profiles |
|
The North America Special Boiling Point Solvents Market is valued at US$ 296.83 Million in 2019, it is projected to reach US$ 379.81 Million by 2027.
As per our report North America Special Boiling Point Solvents Market, the market size is valued at US$ 296.83 Million in 2019, projecting it to reach US$ 379.81 Million by 2027. This translates to a CAGR of approximately 3.3 % during the forecast period.
The North America Special Boiling Point Solvents Market report typically cover these key segments-
The historic period, base year, and forecast period can vary slightly depending on the specific market research report. However, for the North America Special Boiling Point Solvents Market report:
The North America Special Boiling Point Solvents Market is populated by several key players, each contributing to its growth and innovation. Some of the major players include:
The North America Special Boiling Point Solvents Market report is valuable for diverse stakeholders, including:
Essentially, anyone involved in or considering involvement in the North America Special Boiling Point Solvents Market value chain can benefit from the information contained in a comprehensive market report.
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