0 items USD 0.00China's Ascendance: Isoparaffin Solvents Set to Grab 31.20% Market Share by 2029
Isoparaffin solvents, also known as isoparaffinic hydrocarbons, are a type of synthetic hydrocarbon solvent derived from petroleum. These solvents consist mainly of branched-chain paraffins (alkanes) and are characterized by their high purity and low levels of impurities, aromatics, and olefins. Isoparaffin solvents find applications across various industries due to their favorable properties.
1 . Isoparaffin Solvents Market
In 2022, the global Isoparaffin Solvents market reached a size of US$450.67 million, with a projected readjusted size of US$517.69 million by 2029. The market is expected to grow at a Compound Annual Growth Rate (CAGR) of 3.08% during the forecast period from 2023 to 2029. Amid economic changes triggered by the health crisis, the C12 isoparaffin variant accounted for 42.55% of the global market in 2022, and it is anticipated to be valued at US$222.36 million by 2029, growing at a revised CAGR of 3.26% from 2023 to 2029.
In 2022, the United States Isoparaffin Solvents market size was US$105.48 million, while China's market size was US$129.26 million. The United States held a market share of 23.41% in 2022, compared to China's 28.68%. It is predicted that China's market share will increase to 31.20% by 2029, trailing a CAGR of 4.41% throughout the analysis period.
The global Isoparaffin Solvents market is dominated by key manufacturers such as ExxonMobil Chemical, Shell, Idemitsu, Total, Chevron Phillips Chemical Company, INEOS, Braskem, Inner Mongolia Yitai Group, among others. In 2022, the top five global players collectively accounted for approximately 58.13% of the market's revenue share.
The global Isoparaffin Solvents market is segmented by company, region (country), by Type, and by Application. Players, stakeholders, and other participants in the global Isoparaffin Solvents market will be able to gain the upper hand as they use the report as a powerful resource.
2 . Isoparaffin Solvents Applications
It's important to note that the specific type of isoparaffin solvent chosen for a particular application depends on the requirements of the process and the desired properties of the final product. Additionally, regulatory considerations and environmental impact are crucial factors in the selection of solvents in many industries.
Industrial Cleaning:
- Isoparaffin solvents are widely used in industrial cleaning applications. Their high solvency power, low toxicity, and low odor make them suitable for cleaning and degreasing applications in manufacturing and maintenance processes.
Ink and Coating Formulations:
- Isoparaffin solvents are commonly used as carriers in the formulation of inks, coatings, and paints. They provide good solvency for resins and pigments, while their low odor is beneficial in formulations where strong odors are undesirable.
Adhesives and Sealants:
- Isoparaffin solvents are used in the formulation of adhesives and sealants. Their ability to dissolve a variety of polymers and resins makes them valuable in creating adhesives with desired properties such as viscosity and drying characteristics.
Rubber and Polymer Processing:
- In the rubber and polymer industry, isoparaffin solvents are employed as processing aids and diluents. They assist in the blending and compounding of rubber and polymer materials, contributing to the desired consistency and flow properties.
Electronics and Electrical Industry:
- Isoparaffin solvents are utilized in the electronics and electrical industry for cleaning and degreasing electronic components. Their non-conductive properties make them suitable for removing contaminants without risking damage to sensitive electronic equipment.
Agricultural Chemicals:
- Isoparaffin solvents are used in the formulation of agricultural chemicals such as pesticides and herbicides. They serve as carriers for active ingredients, helping to ensure proper application and effectiveness of agricultural products.
Personal Care Products:
- Some isoparaffin solvents, particularly those with lower volatility and low odor, find applications in the formulation of personal care products such as cosmetics and skin care items. They contribute to the texture and feel of the final product.
Textile Industry:
- Isoparaffin solvents are employed in the textile industry for various processes, including dyeing and finishing. They help dissolve and disperse dyes and other chemicals used in textile treatments.
Metalworking Fluids:
- Isoparaffin solvents are used in the formulation of metalworking fluids, where they serve as carriers for various additives. These fluids are utilized in processes such as cutting, grinding, and machining to cool and lubricate metal surfaces.
3 . Isoparaffin Solvents Leading Manufacturers
Several companies globally produce isoparaffin solvents. These manufacturers are known for supplying high-quality isoparaffinic hydrocarbons for various industrial applications. Here are some major manufacturers that were known for producing isoparaffin solvents:
ExxonMobil Chemical:
- ExxonMobil is a leading global producer of petrochemicals, and they offer a range of hydrocarbon solvents, including isoparaffinic solvents under the brand name "Isopar."
Shell Chemicals:
- Shell is a major energy and petrochemical company that produces a variety of chemical products. They offer isoparaffinic solvents suitable for applications such as industrial cleaning and formulation.
Idemitsu Kosan Co., Ltd.:
- Idemitsu is a Japanese company involved in the production of a wide range of petrochemical products, including isoparaffin solvents.
TotalEnergies:
- TotalEnergies is a French multinational energy company with a presence in the petrochemical sector. They manufacture hydrocarbon solvents, including isoparaffinic solvents.
Chevron Phillips Chemical Company:
- Chevron Phillips Chemical is a major producer of chemicals and petrochemicals. They offer various solvents, including isoparaffinic hydrocarbons.
Sasol:
- Sasol, headquartered in South Africa, is an integrated energy and chemical company that produces a range of chemical products, including hydrocarbon solvents.
Calumet Specialty Products Partners:
- Calumet is a specialty petroleum products company that produces a variety of solvents, including isoparaffinic solvents, under different brand names.
BASF SE:
- BASF is a global chemical company that offers a range of chemical products, including specialty solvents used in various industries.
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