Global Isoparaffin Solvents Market size was valued US$ XX Mn. in 2019 and is expected to reach US$ XX Mn. by 2027, at a 3.81% CAGR of around during a forecast period. A major factor driving the isoparaffin solventsmarket is the expanding cosmetics and personal care industry.
Isoparaffin solvent is branched-chain aliphatic hydrocarbons obtained by crude oil distillation. Isoparaffins are commonly used in alkylation, polymerization, and extraction processes. The benefit of better fuel characteristics of isoparaffin solvents over those of paraffin is a significant proposition accounting for their booming demand.
The global market for isoparaffin solvents is expected to grow significantly during the forecast period, thanks to the growing demand for better synthetic solvents and their applications in many end-use industries. Isoparaffin solvents are used across industries such as pesticides, pharmaceuticals, paints, personal care products, and others. Moreover, the growth in agricultural activities finds great use of isoparaffins, further aiding market growth. On the other hand, the global isoparaffin solvents market is hampered by the high cost associated with the chemical.
By application, the industrial segment is expected to grow at the highest CAGR of XX.23% during the forecast period. This growth is attributed to the growth of industrialization across developed and developing economies. Additionally, the adhesives and sealants industry has been witnessing healthy growth over the past few decades and is projected to continue doing so during 2020-2027.
The COVID-19 pandemic has resulted in increased sales of pharma and personal care product like skincare products. In April 2020, as per the L’Oreal quarterly report published, brands such as Lancôme, Kiehl’s and Helena Rubinstein, which have a large proportion of skincare products. Thus, the skincare section with commodity brands and brands focusing on personal hygiene and cleansing is expected to fuel demand for isoparaffin solvents in pharma and personal care sector.
Based on product type, the C9-C11 segment dominated the isoparaffin solvents market during the forecast period, accounting for a share of XX.19%. The C9-C11 remains the top-selling product in isoparaffin solvents space. The C12 is expected to be the second best selling product type, however, C4-C8 continues to register moderate demand in future, as indicated by the MMR report for isoparaffin solvents market. Likewise, the MMR report will provide an accurate prediction of the contribution of the various segments to the growth of the isoparaffin solvents market size.
Geographically, North America accounted for the largest market share in 2019, with a market value of US$ XX.34 Mn thanks to rapid urbanization and the widespread presence of the automobile industry. The growing awareness of maintaining personal care in economies such as the U.S. and Canada is helping the further growth of the isoparaffin solvents market in North American. However, Europe occupied the second largest market share of XX.87% in 2019. With an extensive presence of the agrochemical industry in EU regions, the demands for isoparaffin solvents are witnessing an increase in the region.
The research study includes the profiles of leading companies operating in the global isoparaffin solvents market. Such as Total S.A company provides the ISEAN range of isoparaffin solvents, mainly for resins paints, and metalworking applications. Idemitsu Kosan Co., Ltd, one of the leading participants in the isoparaffin solvents market, provides IP 1620, which finds uses, mainly in coatings and paint.
The objective of the report is to present a comprehensive analysis of the Global Isoparaffin Solvents Marketincluding all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market has been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding Global Isoparaffin Solvents Marketdynamics, structure by analyzing the market segments and projects the Global Isoparaffin Solvents Marketsize. Clear representation of competitive analysis of key players by Application, price, financial position, Product portfolio, growth strategies, and regional presence in the Global Isoparaffin Solvents Market make the report investor’s guide.
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Scope of the Global Isoparaffin Solvents Market
Global Isoparaffin Solvents Market, by Product type
• C15 <
Global Isoparaffin Solvents Market, by Application
• Paints & Coating
o Metal Working Fluids
o Industrial Cleaning
• Adhesives & Sealant
• Pharma and Personal Care Product
Global Isoparaffin Solvents Market, by Region
• Asia Pacific
• North America
• South America
• Middle East & Africa
Key players operating in the Global Isoparaffin Solvents Market
• ExxonMobil Chemical
• Chevron Phillips Chemical Company
• Total S.A
• Bosch Rexroth
• Shell Chemicals
• Maruzen Petrochemical CO., LTD
• Fuji Electric
• RB Products, Braskem
• Jing-Jin Electric
• Mehta Petro Refineries Limited
• Idemitsu Kosan Co. Ltd
• Royal Dutch Shell Chemicals
• Luan Group
• Neste Oyj
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