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Report
Asia-Pacific Hydrocarbon Solvents Market
Market Report I 2025-03-01 I 350 Pages I Data Bridge Market Research
Asia-Pacific hydrocarbon solvents market is expected to reach USD 6.93 billion by 2040 from USD 2.27 billion in 2024, growing with a substantial CAGR of 7.40% in the forecast period of 2025 to 2040.
Market Segmentation:
Asia-Pacific Hydrocarbon Solvents Market, By Type (Aromatic Solvents, Aliphatic Solvents, Mineral Oils, Cycloaliphatic Solvents, and Others), Application (Paints and Coatings, Adhesives, Pharmaceutical, Cleaning and Degreasing, Printing Inks, Agriculture, Rubber and Polymers, Chemicals, Aerosols, Cosmetics, Drilling Fluids, Fluxes for Bitumen, Metal Extraction, Metal Working Lubricant, Sealants, Explosives, and Others), Countries (China, India, Japan, South Korea, Singapore , Thailand, Indonesia, Malaysia. Philippines, Australia, New Zealand, Taiwan, and Rest of Asia-Pacific) - Industry Trends and Forecast to 2040.
Overview of Asia-Pacific Hydrocarbon Solvents Market Dynamics:
Driver
- Growing demand for hydrocarbon solvents from end-use industries
Restraint
- Strict regulations on volatile organic compounds emissions and solvent disposal
Opportunity
- Growing demand for green and bio-based solvents
Market Players:
The key players operating in the Asia-Pacific hydrocarbon solvents market are:
- China Petrochemical Corporation
- Reliance Industries Limited
- Jun Yuan Petroleum Group
- Avani Petrochem Pvt. Ltd.
TABLE OF CONTENTS
1 INTRODUCTION 65
1.1 OBJECTIVES OF THE STUDY 65
1.2 MARKET DEFINITION 65
1.3 OVERVIEW 65
1.4 LIMITATIONS 66
1.5 MARKETS COVERED 66
2 MARKET SEGMENTATION 74
2.1 MARKETS COVERED 74
2.2 GEOGRAPHICAL SCOPE 75
2.3 YEARS CONSIDERED FOR THE STUDY 76
2.4 CURRENCY AND PRICING 76
2.5 DBMR TRIPOD DATA VALIDATION MODEL 77
2.6 MULTIVARIATE MODELING 80
2.7 PRIMARY INTERVIEWS WITH KEY OPINION LEADERS 81
2.8 DBMR MARKET POSITION GRID 82
2.9 DBMR VENDOR SHARE ANALYSIS 83
2.10 MARKET APPLICATION COVERAGE GRID 84
2.11 SECONDARY SOURCES 85
2.12 ASSUMPTIONS 86
3 EXECUTIVE SUMMARY 87
4 PREMIUM INSIGHTS 92
4.1 PESTEL ANALYSIS 93
4.1.1 POLITICAL FACTORS 93
4.1.2 ECONOMIC FACTORS 93
4.1.3 SOCIAL FACTORS 93
4.1.4 TECHNOLOGICAL FACTORS 94
4.1.5 ENVIRONMENTAL FACTORS 94
4.1.6 LEGAL FACTORS 94
4.2 PORTER'S FIVE FORCES 95
4.2.1 THREAT OF NEW ENTRANTS 95
4.2.2 BARGAINING POWER OF SUPPLIERS 96
4.2.3 BARGAINING POWER OF BUYERS 96
4.2.4 THREAT OF SUBSTITUTES 96
4.2.5 INDUSTRY RIVALRY 97
4.3 PRICING ANALYSIS 98
4.4 PRODUCTION CAPACITY OF KEY MANUFACTURERS 99
4.5 IMPORT EXPORT SCENARIO 100
4.6 PRODUCTION CONSUMPTION ANALYSIS 101
4.7 CLIMATE CHANGE SCENARIO 102
4.7.1 ENVIRONMENTAL CONCERNS 102
4.7.2 INDUSTRY RESPONSE 102
4.7.3 GOVERNMENT'S ROLE 102
4.7.4 ANALYST RECOMMENDATIONS 103
4.8 VENDOR SELECTION CRITERIA 104
4.9 DETAILED OVERVIEW OF THE COMPOSITION AND CHARACTERISTICS OF HYDROCARBON SOLVENTS 106
4.9.1 ALIPHATIC HYDROCARBONS 106
4.9.1.1 MINERAL SPIRITS / WHITE SPIRIT 106
4.9.1.2 PARAFFINIC SOLVENTS 106
4.9.2 MINERAL OIL (WHITE OIL) 107
4.9.3 AROMATIC SOLVENTS 107
4.9.4 CYCLOALIPHATIC SOLVENTS 107
4.9.5 GENERAL CONSIDERATIONS 108
4.10 PRICE INFORMATION OF SUB-PRODUCTS 109
4.10.1 NAPTHA 109
4.10.1.1 FACTORS AFFECTING PRICE MOVEMENTS 109
4.10.2 TOLUENE 109
4.10.2.1 FACTORS AFFECTING PRICE MOVEMENTS 110
4.10.3 XYLENE 110
4.10.3.1 FACTORS AFFECTING PRICE MOVEMENTS 111
4.10.4 XYLENE 111
4.10.4.1 FACTORS AFFECTING PRICE MOVEMENTS 111
4.11 RAW MATERIAL COVERAGE 112
4.11.1 PETROLEUM-BASED RAW MATERIALS 112
4.11.2 NATURAL GAS-DERIVED RAW MATERIALS 112
4.11.3 RENEWABLE FEEDSTOCKS: BIO-BASED HYDROCARBONS 112
4.11.4 RECYCLED SOLVENTS 112
4.11.5 SYNTHETIC HYDROCARBONS 113
4.12 SOURCES OF HYDROCARBON SOLVENT STREAMS: REFINERY VS. PETROCHEMICAL 114
4.12.1 REFINERY STREAMS 114
4.12.2 PETROCHEMICAL STREAMS 114
4.12.3 KEY DIFFERENCES BETWEEN REFINERY AND PETROCHEMICAL STREAMS 114
4.12.4 EXAMPLES OF HYDROCARBON STREAMS AND THEIR USE IN SOLVENT PRODUCTION 115
4.12.5 CONCLUSION 115
4.13 SUPPLY CHAIN ANALYSIS 116
4.13.1 OVERVIEW 116
4.13.2 LOGISTIC COST SCENARIO 116
4.13.3 IMPORTANCE OF LOGISTICS SERVICE PROVIDERS 116
4.14 TECHNOLOGICAL ADVANCEMENTS 117
4.14.1 DEVELOPMENT OF LOW-VOC AND NON-VOC SOLVENTS 117
4.14.2 BIO-BASED HYDROCARBON SOLVENTS 117
4.14.3 SOLVENT BLENDS FOR IMPROVED EFFICIENCY 117
4.14.4 ADVANCED PURIFICATION AND RECYCLING TECHNIQUES 117
4.14.5 INNOVATION IN PACKAGING AND SAFETY 118
4.14.6 DIGITALIZATION AND SMART SOLVENT SYSTEMS 118
4.14.7 CONCLUSION 118
5 REGULATORY COVERAGE 119
6 MARKET OVERVIEW 121
6.1 DRIVERS 123
6.1.1 GROWING DEMAND FOR HYDROCARBON SOLVENTS FROM END-USE INDUSTRIES 123
6.1.2 FAST EXPANDING CONSTRUCTION AND AUTOMOTIVE SECTORS 124
6.1.3 RISING DEMAND FOR INDUSTRIAL CLEANING AGENTS 125
6.1.4 INCREASING USE OF HYDROCARBON SOLVENTS IN OIL AND GAS 126
6.2 RESTRAINTS 127
6.2.1 STRICT REGULATIONS ON VOLATILE ORGANIC COMPOUNDS EMISSIONS AND SOLVENT DISPOSAL 127
6.2.2 VOLATILITY IN RAW MATERIAL PRICES 128
6.3 OPPORTUNITIES 129
6.3.1 GROWING DEMAND FOR GREEN AND BIO-BASED SOLVENTS 129
6.3.2 TECHNOLOGICAL ADVANCEMENTS AND INNOVATIONS IN SOLVENT BLENDS 130
6.3.3 INCREASING APPLICATIONS IN PHARMACEUTICALS AND PERSONAL CARE 130
6.4 CHALLENGES 132
6.4.1 STIFF COMPETITION FROM ALTERNATIVE SOLVENTS 132
6.4.2 HEALTH HAZARDS AND TOXICITY ISSUES FOR WORKERS 133
7 ASIA-PACIFIC HYDROCARBON SOLVENTS MARKET, BY TYPE 134
7.1 OVERVIEW 135
7.2 AROMATIC SOLVENTS 136
7.3 ALIPHATIC SOLVENTS 138
7.4 MINERAL OILS 140
7.5 CYCLOALIPHATIC SOLVENTS 141
7.6 OTHERS 142
8 ASIA-PACIFIC HYDROCARBON SOLVENTS MARKET, BY APPLICATION 143
8.1 OVERVIEW 144
8.2 PAINTS AND COATINGS 146
8.3 ADHESIVES 147
8.4 PHARMACEUTICAL 148
8.5 CLEANING AND DEGREASING 149
8.6 PRINTING INKS 151
8.7 AGRICULTURE 152
8.8 RUBBER AND POLYMERS 153
8.9 CHEMICALS 154
8.10 AEROSOLS 156
8.11 COSMETICS 157
8.12 DRILLING FLUIDS 158
8.13 FLUXES FOR BITUMEN 159
8.14 METAL EXTRACTION 160
8.15 METAL WORKING LUBRICANT 161
8.16 SEALANTS 162
8.17 EXPLOSIVES 164
8.18 OTHERS 165
9 ASIA-PACIFIC HYDROCARBON SOLVENTS MARKET, BY REGION 166
9.1 ASIA-PACIFIC 167
9.1.1 CHINA 183
9.1.2 INDIA 196
9.1.3 JAPAN 208
9.1.4 SOUTH KOREA 221
9.1.5 SINGAPORE 234
9.1.6 THAILAND 247
9.1.7 INDONESIA 260
9.1.8 MALAYSIA 273
9.1.9 PHILIPPINES 286
9.1.10 AUSTRALIA 299
9.1.11 NEW ZEALAND 311
9.1.12 TAIWAN 323
9.1.13 REST OF ASIA-PACIFIC 335
10 ASIA-PACIFIC HYDROCARBON SOLVENTS MARKET: COMPANY LANDSCAPE 336
10.1 COMPANY SHARE ANALYSIS: ASIA-PACIFIC 336
11 SWOT ANALYSIS 337
12 COMPANY PROFILES 338
12.1 EXXON MOBIL CORPORATION 338
12.1.1 COMPANY SNAPSHOT 338
12.1.2 REVENUE ANALYSIS 339
12.1.3 COMPANY SHARE ANALYSIS 339
12.1.4 PRODUCT PORTFOLIO 340
12.1.5 RECENT DEVELOPMENT 341
12.2 BASF 342
12.2.1 COMPANY SNAPSHOT 342
12.2.2 REVENUE ANALYSIS 342
12.2.3 COMPANY SHARE ANALYSIS 343
12.2.4 PRODUCT PORTFOLIO 343
12.2.5 RECENT DEVELOPMENT 346
12.3 TOTALENERGIES 347
12.3.1 COMPANY SNAPSHOT 347
12.3.2 REVENUE ANALYSIS 347
12.3.3 COMPANY SHARE ANALYSIS 348
12.3.4 PRODUCT PORTFOLIO 348
12.3.5 RECENT DEVELOPMENT 349
12.4 SHELL PLC 350
12.4.1 COMPANY SNAPSHOT 350
12.4.2 REVENUE ANALYSIS 350
12.4.3 COMPANY SHARE ANALYSIS 351
12.4.4 PRODUCT PORTFOLIO 351
12.4.5 RECENT DEVELOPMENT/NEWS 353
12.5 CHEVRON PHILLIPS CHEMICAL COMPANY LLC 354
12.5.1 COMPANY SNAPSHOT 354
12.5.2 COMPANY SHARE ANALYSIS 354
12.5.3 PRODUCT PORTFOLIO 355
12.5.4 RECENT DEVELOPMENT/NEWS 356
12.6 ADNOC 357
12.6.1 COMPANY SNAPSHOT 357
12.6.2 PRODUCT PORTFOLIO 357
12.6.3 RECENT DEVELOPMENT 358
12.7 ASHLAND 359
12.7.1 COMPANY SNAPSHOT 359
12.7.2 REVENUE ANALYSIS 360
12.7.3 PRODUCT PORTFOLIO 360
12.7.4 RECENT DEVELOPMENT 360
12.8 AVANI PETROCHEM PVT. LTD. 361
12.8.1 COMPANY SNAPSHOT 361
12.8.2 PRODUCT PORTFOLIO 361
12.8.3 RECENT DEVELOPMENT 362
12.9 BP P.L.C. 363
12.9.1 COMPANY SNAPSHOT 363
12.9.2 REVENUE ANALYSIS 363
12.9.3 PRODUCT PORTFOLIO 364
12.9.4 RECENT DEVELOPMENT 364
12.10 BRASKEM 365
12.10.1 COMPANY SNAPSHOT 365
12.10.2 REVENUE ANALYSIS 365
12.10.3 PRODUCT PORTFOLIO 366
12.10.4 RECENT DEVELOPMENT 367
12.11 CALUMET, INC. 368
12.11.1 COMPANY SNAPSHOT 368
12.11.2 REVENUE ANALYSIS 368
12.11.3 PRODUCT PORTFOLIO 369
12.11.4 RECENT DEVELOPMENT 370
12.12 CHINA PETROCHEMICAL CORPORATION 371
12.12.1 COMPANY SNAPSHOT 371
12.12.2 REVENUE ANALYSIS 371
12.12.3 PRODUCT PORTFOLIO 372
12.12.4 RECENT DEVELOPMENT/NEWS 373
12.13 EASTMAN CHEMICAL COMPANY 374
12.13.1 COMPANY SNAPSHOT 374
12.13.2 REVENUE ANALYSIS 375
12.13.3 PRODUCT PORTFOLIO 375
12.13.4 RECENT DEVELOPMENT 376
12.14 ENGEN PETROLEUM LTD 377
12.14.1 COMPANY SNAPSHOT 377
12.14.2 PRODUCT PORTFOLIO 377
12.14.3 RECENT DEVELOPMENT 377
12.15 GOTHAM INDUSTRIES 378
12.15.1 COMPANY SNAPSHOT 378
12.15.2 PRODUCT PORTFOLIO 378
12.15.3 RECENT DEVELOPMENT 379
12.16 GULF CHEMICAL & INDUSTRAL OILS 380
12.16.1 COMPANY SNAPSHOT 380
12.16.2 PRODUCT PORTFOLIO 380
12.16.3 RECENT DEVELOPMENT 381
12.17 HALTERMANN CARLESS GROUP GMBH 382
12.17.1 COMPANY SNAPSHOT 382
12.17.2 PRODUCT PORTFOLIO 382
12.17.3 RECENT DEVELOPMENT/NEWS 383
12.18 HALTON CHEMICAL INC. 384
12.18.1 COMPANY SNAPSHOT 384
12.18.2 PRODUCT PORTFOLIO 384
12.18.3 RECENT DEVELOPMENT 385
12.19 HONEYWELL INTERNATIONAL INC 386
12.19.1 COMPANY SNAPSHOT 386
12.19.2 REVENUE ANALYSIS 387
12.19.3 PRODUCT PORTFOLIO 387
12.19.4 RECENT DEVELOPMENT 388
12.20 JUN YUAN PETROLEUM GROUP 389
12.20.1 COMPANY SNAPSHOT 389
12.20.2 PRODUCT PORTFOLIO 389
12.20.3 RECENT DEVELOPMENT 391
12.21 LANXESS 392
12.21.1 COMPANY SNAPSHOT 392
12.21.2 REVENUE ANALYSIS 392
12.21.3 PRODUCT PORTFOLIO 393
12.21.4 RECENT DEVELOPMENT 393
12.22 LYONDELLBASELL INDUSTRIES HOLDING B.V. 394
12.22.1 COMPANY SNAPSHOT 394
12.22.2 REVENUE ANALYSIS 394
12.22.3 PRODUCT PORTFOLIO 395
12.22.4 RECENT DEVELOPMENT 398
12.23 NESTE 399
12.23.1 COMPANY SNAPSHOT 399
12.23.2 REVENUE ANALYSIS 399
12.23.3 PRODUCT PORTFOLIO 400
12.23.4 RECENT DEVELOPMENT 401
12.24 RB PRODUCTS, INC. 402
12.24.1 COMPANY SNAPSHOT 402
12.24.2 PRODUCT PORTFOLIO 402
12.24.3 RECENT DEVELOPMENT 404
12.25 RELIANCE INDUSTRIES LIMITED 405
12.25.1 COMPANY SNAPSHOT 405
12.25.2 REVENUE ANALYSIS 405
12.25.3 PRODUCT PORTFOLIO 406
12.25.4 RECENT DEVELOPMENT 406
12.26 SASOL 407
12.26.1 COMPANY SNAPSHOT 407
12.26.2 REVENUE ANALYSIS 407
12.26.3 PRODUCT PORTFOLIO 408
12.26.4 RECENT DEVELOPMENT 409
13 QUESTIONNAIRE 410
14 RELATED REPORTS 413
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