India de aromatic solvents market comprises products such as mineral spirits, naphtha, kerosene, refined petroleum, and others which are used for thinners, mechanical, and hydraulic fluids. These solvents find widespread applications in paints & coatings, adhesives, printing inks, metalworking fluids, industrial cleaning, and others owing to their excellent solvency properties. The growing petrochemical sector and infrastructure development has increased the demand for end-use products in India which require de-aromatic solvents.
The India De Aromatic Solvents Market is estimated to be valued at US$ 6040.87 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2030.
Key Takeaways
Key players operating in the India de aromatic solvents are Diabetomics, Inc., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, PerkinElmer Inc., Siemens Healthineers AG, DRG INSTRUMENTS GMBH, Metabolomic Diagnostics Ltd., Sera Prognostics, MOMM Diagnostics, Miraculins Inc. These players are focusing on expanding their production facilities and service offerings in India to cater to the growing demand.
The key opportunities in the market include increasing infrastructural investments in highways, roads, ports, airports, buildings, and others. The growing construction spending is expected to propel the demand for de-aromatic solvents in paints, coatings, adhesives, and other applications.
Global players are expanding their presence in India De Aromatic Solvents Market Demand by building new production plants, acquiring domestic players, and collaborating with regional partners. For instance, ExxonMobil expanded its production capacity of De-aromatic Solvents in Gujarat.
Market drivers –
Rapid industrialization and growth of end-use industries such as petrochemicals, oil & gas, construction, automotive has increased the demand for de-aromatic solvents in India. The government initiatives to boost manufacturing sector will further aid the market growth.
Market restraints –
Volatility in crude oil prices affects the prices of de-aromatic solvents. Strong regulations regarding VOC emissions during the production and use of solvents may hinder the market growth to some extent.
Segment Analysis
The India de-aromatic solvents market is dominated by the hydrocarbon solvents sub segment. These solvents possess characteristics like high flash point, low aromatic content and good solvency power which makes them suitable for applications like paints & coatings, cleaning & degreasing, drugs & pharmaceuticals, adhesives etc. The growing paints & coatings industry in India owing to infrastructure development and automotive manufacturing is driving the demand for hydrocarbon solvents in the market.
Regional Analysis
The Western region of India accounted for the largest share of the de-aromatic solvents market in India in 2024 and is expected to maintain dominating position during the forecast period. This is attributed to strong presence of end use industries like paints & coatings, construction, automotive manufacturing etc in states like Maharashtra and Gujarat. Growth of the automotive sector and infrastructure development projects are augmenting the demand for de-aromatic solvents in this region. The Southern region is also expanding significantly owing to active government initiatives to promote industrialization in states like Karnataka, Tamil Nadu and Andhra Pradesh.
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