Impact Analysis of Covid-19

The complete version of the Report will include the impact of the COVID-19, and anticipated change on the future outlook of the industry, by taking into the account the political, economic, social, and technological parameters.

De-aromatic solvents are hydrocarbon solvents that have low aromatic content around (<2%). They consist of iso-paraffinic, naphthene, and paraffinic compounds attached to them. De-aromatic solvents are majorly used across printing ink, industrial paints and coatings because they have very low VOC content and excellent faster-drying properties. Moreover, they are also used in the manufacturing de-aromatic insecticides and mosquitoes repellents. These solvents are much safer and eco-friendly products due to low VOC emissions.

The India de-aromatic solvents market is projected to reach around INR 6,931.1 million by the end of 2027, in terms of revenue, growing at CAGR of 7.4% during the forecast period (2020-2027).

Drivers:

Increasing demand for de-aromatic solvents for manufacturing of Household Insecticides, Mosquito Repellents, and aerosol is primarily fueling the market growth of the India de-aromatic solvents. In India, there are a number of insecticides and mosquito repellents, such as sprays, coils, and electric mosquito repellent products are available in the market due to strong demand for these products in the country.

Growth in the India paints and coatings industry in the country is expected to augment the

market growth over the forecast period. Rising demand for paints and coatings from residential as well as commercial sectors is expected to fuel the market growth. Moreover, rising demand for paints from industries such as automotive, marine, and railways is further expected to propel the India de-aromatic solvents market growth.

Figure 1. India De-aromatic Solvents Market Share (%) in terms of Value, By Sub-region, in 2019

India De-aromatic Solvents  | Coherent Market Insights

West sub-region dominated the India De-aromatic market in 2019, accounting for 35.5% share in terms of value, followed by north and south sub-region, respectively.

Market Restraints

Rising demand for eco-friendly product bio-based raw materials is expected to restrict the market growth of de-aromatic solvents over the forecast period. Moreover, according to the Coherent Market Insights, demand for greener alternatives, bio-based solvents market is slated to register a steady CAGR of around 6–8% over the forecast period.

Market Opportunities

Various manufacturers are focusing on increasing production capacity of de-aromatized in order to expand their presence in India. This is expected to offer potential growth opportunities in the near future. For instance, in 2017, Exxon Mobil expanded its production capacity by 250,000 tons for global hydrocarbon solvents. It produces a range of de-aromatic solvents in its facilities located in Singapore and Antwerp.

Growth in the chemical and petrochemical industry in India due to the increasing production of chemicals will favor the market growth of de-aromatized solvent over the forecast period. According to the Invest India, total production of major chemicals and petrochemicals stood at 27,847 MT during 2018-2019, a growth of 4.15% over 2017 to 2018. Thus, growth in the chemical industry in India is expected to augment the market growth. 

Figure 2. India De-aromatic Solvents Market– Opportunity Analysis

India De-aromatic Solvents  | Coherent Market Insights

Market Trends

The growing steel industry in India is expected to foster the market growth of the de-aromatic solvents. According to the India Brand Equity Foundation, India was accounted as a world’s second-largest steel [email protected] with production standing at 106.5 MT in 2018. The growth in the Indian steel sector has been driven by the domestic availability of raw materials such as iron ore and cost-effective labor. Hence, growth in the steel industry is expected to fuel market growth.

Figure 3. India De-aromatic Solvents Market Share (%) in terms of Value, By Application, in 2019

India De-aromatic Solvents  | Coherent Market Insights

On the basis of application in 2019, the paints, coatings & inks segment has accounted the largest market share of 43.2% in terms of value, followed by metal working and consumer products, respectively.

Competitive Section:

Company Names 

  1. Exxon Mobil Corporation
  2. Total S.A.
  3. Royal Dutch Shell plc
  4. Isu Exachem
  5. Mehta Petro Refineries
  6. Avani Petrocehm Pvt Ltd.
  7. Raj Petro Specialties P. Ltd.
  8. Eastern Petroleum Private Limited

De-aromatic solvents are categorized under hydrocarbon solvents or ultra-low aromatic solvents that have iso-paraffinic, paraffinic, and naphthenic components attached to them. They have very low aromatic content around (<2%) and are widely used across printing ink applications. Most of the industrial paints and coatings used around the globe are solvent-based as they have low VOC content and faster drying properties. De-aromatic solvents are also used in the production of De-aromatic insecticides and mosquitoes repellents. Automotive, marine, and railways are some of the major application areas of De-aromatic solvents.

Market Dynamics

Rising demand for flexographic inks from the packaging industry used in the printing of packaging material such as labels, cardboard, and paper bags is expected to be a major trend in the market. The growth of the de-aromatized market in India can also be attributed to growth in the packaging industry due to rising demand for packaged product.

Rising disposable income of the consumer due to economic development has increased their purchasing which has further raised the demand for consumer goods. According to the Ministry of Statistics and Programme Implementation, India's per-capita income at current prices during 2018 to 2019 was estimated to have attained a level of Rs 1,26,406 ( Rs. 10,533.83 monthly) as compared to the estimated for the year 2017-2018 of 1,14,958 ( 9,579.83 a month), showing a rise of 10%.

Growing adoption of water-based paints & coatings and powder coatings is projected to curb the growth of India de-aromatic solvents market. According to the Coherent Market Insights analysis, the decorative paints sector holds about 70% of the overall Indian paints and coatings market is shifting towards water-based paints as they are less hazardous to the environment and human health.

Key features of the study:

  • This report provides in-depth analysis of India de-aromatic solvents market and provides market size (INR million & Tons) and compound annual growth rate (CAGR %) for the forecast period (2020–2027), considering 2019 as the base year
  • It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrices for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by the leading players
  • It profiles leading players in the India de-aromatic solvents market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
  • Key companies covered as a part of this study includes Exxon Mobil Corporation, Total S.A., Royal Dutch Shell plc, Isu Exachem, Mehta Petro Refineries, Avani Petrocehm Pvt Ltd., Raj Petro Specialties P. Ltd., and Eastern Petroleum Private Limited
  • Insights from this report would allow marketers and the management authorities of the companies to make informed decision regarding their future products launches, technology up-gradation, market expansion, and marketing tactics
  • The India de-aromatic solvents market report caters to various stakeholders in this industry including investors, suppliers, de-aromatic solvents manufacturers, distributors, new entrants, and financial analysts
  • Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the India de-aromatic solvents market

Detailed Segmentation:

  • India De-aromatic Solvents Market, By Grade:
    • Low Flash Point (<500C)
    • Medium Flash Point (510C – 900C)
    • High Flash Point (>900C)
  • India De-aromatic Solvents Market, By Application:
    • Paints, coatings, and Inks
    • Metal Working
    • Industrial Cleaning
    • Adhesives and Sealants
    • Drilling Fluids
    • Consumer Products
    • Others
  • India De-aromatic Solvents Market, By Boiling Point:
    • Type 1 (<1850C)
    • Type 2(1850C – 2400C)
    • Type 3(>2400C)
  • India De-aromatic Solvents Market, By Sub-Region:
    • India
      • South Zone
        • By Grade
          • Low Flash Point (<500C)
          • Medium Flash Point (510C – 900C)
          • High Flash Point (>900C)
        • By Application
          • Paints, coatings, and Inks
          • Metal Working
          • Industrial Cleaning
          • Adhesives and Sealants
          • Drilling Fluids
          • Consumer Products
          • Others
        • By Boiling Point
          • Type 1 (<1850C)
          • Type 2(1850C – 2400C)
          • Type 3(>2400C)
      • North Zone
        • By Grade
          • Low Flash Point (<500C)
          • Medium Flash Point (510C – 900C)
          • High Flash Point (>900C)
        • By Application
          • Paints, coatings, and Inks
          • Metal Working
          • Industrial Cleaning
          • Adhesives and Sealants
          • Drilling Fluids
          • Consumer Products
          • Others
        • By Boiling Point
          • Type 1 (<1850C)
          • Type 2(1850C – 2400C)
          • Type 3(>2400C)
      • East Zone
        • By Grade
          • Low Flash Point (<500C)
          • Medium Flash Point (510C – 900C)
          • High Flash Point (>900C)
        • By Application
          • Paints, coatings, and Inks
          • Metal Working
          • Industrial Cleaning
          • Adhesives and Sealants
          • Drilling Fluids
          • Consumer Products
          • Others
        • By Boiling Point
          • Type 1 (<1850C)
          • Type 2(1850C – 2400C)
          • Type 3(>2400C)
      • West Zone
        • By Grade
          • Low Flash Point (<500C)
          • Medium Flash Point (510C – 900C)
          • High Flash Point (>900C)
        • By Application
          • Paints, coatings, and Inks
          • Metal Working
          • Industrial Cleaning
          • Adhesives and Sealants
          • Drilling Fluids
          • Consumer Products
          • Others
        • By Boiling Point
          • Type 1 (<1850C)
          • Type 2(1850C – 2400C)
          • Type 3(>2400C)
  • Company Profiles
    • Exxon Mobil Corporation *
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Key Strategies
      • Recent Developments
      • Future Plans
    • 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

 “*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumptions
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Purview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Grade
      • Market Snippet, By Application
      • Market Snippet, By Boiling Point
      • Market Snippet, By Sub-Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
      • Regulatory Scenario
      • Industry Trend
      • Mergers and Acquisitions
      • New Product Approvals/Launch
      • Promotion and Marketing Initiatives
    • Cost Tier Down Analysis
  4. India De-aromatic Solvents Market, By Grade, 2017- 2027 (INR Million & Tons)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Low Flash Point (<500C)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
    • Medium Flash Point (510C – 900C)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
    • High Flash Point (>900C)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
  5. India De-aromatic Solvents Market, By Application, 2017- 2027 (INR Million & Tons)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Paints, coatings, and Inks
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
    • Metal Working
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
    • Industrial Cleaning
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
    • Adhesives and Sealants
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
    • Drilling Fluids
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
    • Consumer Products
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
    • Others
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
  6. India De-aromatic Solvents Market, By Boiling Point, 2017- 2027 (INR Million & Tons)
    • Introduction
      • Market Share Analysis, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, 2020 - 2027
      • Segment Trends
    • Type 1 (<1850C)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
    • Type 2(1850C – 2400C)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
    • Type 3(>2400C)
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
  7. India De-aromatic Solvents Market, By Sub-Region, 2017- 2027 (INR Million & Tons)
    • Introduction
      • Market Share Analysis, By Sub-Region, 2019 and 2027 (%)
      • Y-o-Y Growth Analysis, For Regions, 2020 - 2027
    • South Zone
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
    • North Zone
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
    • East Zone
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
    • West Zone
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2017 - 2027, (INR Million & Tons)
  8. Competitive Landscape
    • Heat Map Analysis
    • Market Share Analysis (3x3 Matrix)
    • Company Profiles
      • Exxon Mobil Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Total S.A.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Royal Dutch Shell plc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Isu Exachem  
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Mehta Petro Refineries
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Avani Petrocehm Pvt Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Raj Petro Specialties P. Ltd.  
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
      • Eastern Petroleum Private Limited  
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Developments/Updates
        • Future Plans
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

Frequently Asked Questions

The market for India de-aromatic solvents is estimated to surpass INR 6,931.1 million by 2027, exhibiting a CAGR of 7.4% between 2020 and 2027.
Increasing demand for de-aromatic solvents for manufacturing of Household Insecticides, Mosquito Repellents, and aerosol is primarily fueling the market growth of the India de-aromatic solvents.
The India de-aromatic solvents market is expected to exhibit a CAGR of 7.4% during the forecast period (2020-2027).
Major players operating in the India de-aromatic solvents market include Exxon Mobil Corporation, Total S.A., Royal Dutch Shell plc, Isu Exachem, Mehta Petro Refineries, Avani Petrocehm Pvt Ltd., Raj Petro Specialties P. Ltd., and Eastern Petroleum Private Limited.
Rising demand for eco-friendly product bio-based raw materials is expected to restrict the market growth of de-aromatic solvents over the forecast period.
The growing steel industry in India is expected to foster the market growth of the de-aromatic solvents.The growth in the Indian steel sector has been driven by the domestic availability of raw materials such as iron ore and cost-effective labor. Hence, growth in the steel industry is expected to fuel market growth
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