Aliphatic hydrocarbons are the organic compounds containing hydrogen and carbon bonded in straight chains, branched chains or non-aromatic rings.
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Aliphatic Hydrocarbon Market Overview 2023:
Aliphatic hydrocarbon is an organic compound and is produced from crude oil by distillation process. They are primarily used as fuels due to their high flammability. These type of hydrocarbons find their applications in day to day products such as perfumes, artificial flavors, room fresheners, and others. The increasing demand for aliphatic hydrocarbon as a thinner and solvent in paints and coatings industry is driving growth of the market. Additionally, the increasing physical and social infrastructural development, along with the growing population is anticipated to fuel the demand for the paints and coatings which will consequently propel the market growth. The product finds its usage in the process of oil extraction and manufacturing of rubber and aerosols. Furthermore, the increased applications of aliphatic hydrocarbons such as refrigerants, dry cleaning, lubricants, and chemical intermediates are the major drivers of the global market.
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The demand for aliphatic hydrocarbon in various end-user such as building and construction, and automotive are the factors are favoring the growth of the market. Moreover, replacement of turpentine by mineral spirits is likely to drive the forward in coming years.
However, the harmful long term and short term exposures and government laws concerning environment safety in developed economies may compel the market growth.
Geographically, the global aliphatic hydrocarbon market is segmented into five major regions namely Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa. Asia Pacific holds a major share of global aliphatic hydrocarbon market among them. The region accounts for over 30% share of the market. Emerging economies of the region such as China and India are the major contributors to the regional market owing to the rapid urbanization and increased demand from infrastructure activities. The increasing demand for paints and coatings in building and construction industry is expected to propel the market growth at a considerable rate. Furthermore, the extensive use of rubber in automotive industry for the production of tires is another important driver of the market. Country-wise, India, Thailand, and Indonesia are the major rubber producers which is likely to fuel the market growth in coming years.
North America is likely to witness a considerable growth due to the presence of a significant number of manufacturing industries, specifically in the U.S.. Europe is expected to exhibit a sluggish growth owing to strict laws of government concerning emission of VOCs. The toxic and harmful effects of the product has led to increased use of bio-based and environment-friendly solvents.
The oil extraction is a major driver of the market in the Middle East. Countries such as UAE and Saudi Arabia are major contributors to the market growth owing to the underground oil deposits and infrastructural sectors in this region.
Latin America is another growing region in the market of aliphatic hydrocarbon on account of increasing industrialization in economies such as Mexico and Brazil.
Key Players
Some of the important vendors in the global aliphatic hydrocarbon market are Exxon Mobil Corporation (the U.S), SK global chemical Co., Ltd. (Korea), Calumet Specialty products partners, L.P (the U.S), Shell Global (the Netherlands), Gotham Industries (Canada), Gulf Chemicals and Industrial Oil Corporation (Saudi Arabia), Kandla Energy and Chemicals Ltd. (India), Ganga Rasaynie (P). Ltd. (India), NOCO Incorporated (the U.S), Gadiv Petrochemical Industries Ltd. (Israel), HCS Group (Germany), MK Aromatics Ltd. (India), Phillips 66 Company (the U.S), Safra Co. Ltd. (Saudi Arabia), and Pure Chemicals CO. (India).
Segmentation
The global aliphatic hydrocarbon market is segmented into the product type, applications, and region.
On the basis of product type, the global market is segregated into varnish makers & painter s naphtha, mineral spirit, heptane, and others.
Based on the applications, the market is segmented into paints & coatings, commercial & domestic cleaning, rubber & polymer, adhesives, aerosols, printing inks, and others.
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