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India Market Study on De-aromatic Solvents: Metal Working Application Segment Anticipated to Witness Relatively Faster Growth During 2016 – 2024
india de-aromatic solvents market
The report titled“ De-aromatic Solvents Market: India Industry Analysis and Forecast, 2016-2024 ” reveals that in 2016, INR 2,925.9 Mn were garnered from the sales of de-aromatic solvents in India, which is projected to reach INR 5.07 Bn by 2024-end, reflecting a CAGR of 7.1%.
Demand for de-aromatic solvents continues to surge in India. According to a new report published by Persistence Market Research, the de-aromatic solvents market in India is set to ride at a CAGR of 7.1% between 2016 and 2024. Increasing concerns over the hazards caused by the use of conventional solvents and a corresponding increase in demand for effective yet safer and eco-friendly alternatives is expected to fuel the demand for de-aromatic solvents in India during the assessment period.
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The de-aromatic market in the western part of the country is expected to witness the highest growth, while the Northern and the Southern parts will also continue to account for respectable market shares. On the other hand, growth of the market will be sluggish in the eastern part of India over 2024.
Exxon Mobil Corporation Total S.A. Royal Dutch Shell plc Isu Exachem Mehta Petro Refineries Avani Petrocehm Pvt Ltd. Raj Petro Specialties P. Ltd. Eastern Petroleum Private Limited Others
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India De-Aromatic Solvents Market: Key Trends
Rising preference for high flash point products for metal working and drilling fluids applications expected to provide an impetus on the market. Some of the leading market participants are actively focusing on offering de-aromatic solvents that cater to specific end-use requirements. Of late, companies that are operating de-aromatic solvents market globally, are laying emphasis on further quality improvement and boosting the production of solvents using natural gas-based feedstock, which is synthesized using Gas-To-Liquid (GTL) technology as against conventional oil-based feedstock. The region of Asia Pacific is expected to be an attractive destination for manufacturers and suppliers of de-aromatic solvents, owing to its growing demand from some of emerging countries such as China, India and South Korea. Also, manufacturers are channelizing resources towards ramping up production capacities in order to cater to the soaring demand from a diverse set of industries.
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india de aromatic solvents Market
The chemicals and materials vertical would be witnessing an eco-friendly transformation in the upcoming period. Plastic waste recycling would be one amongst these green initiatives. This would also be an era of materials informatics, i.e. machine learning would be employed to the materials' development, which would, apart from improving on the cost of R&D, also provide better agility.
Synthetic biology would be another trend ruling the roost, as it would facilitate more flexible distribution of the chemicals and also help in exploration of novel markets, that too, at lower costs. Persistence Market Research is into tabling of these details of the chemicals and materials vertical through its team of riveting analysts and consultants.
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About PMR – Chemicals and Materials
The Chemicals and Materials division of Persistence Market Research offers distinct and pin-point analysis about chemicals and materials industry. Chemical coverage extends from commodity, bulk, specialty and petrochemicals to advanced materials, composites and nanotechnology in particular with special emphasis on 'green alternatives', recycling and renewable technology developments, supply-demand-trade assessment. Our research studies are widely referred by chemical manufacturers, research institutions, channel partners and government bodies for developing – 'The Way Forward'.
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