logo
logo
Sign in

The Global India De-Aromatic Solvents Market Rapid Growth Driven By Expansion Of End-Use Industries

avatar
Leena Shedmake
The Global India De-Aromatic Solvents Market Rapid Growth Driven By Expansion Of End-Use Industries

The India de-aromatic solvents market has been witnessing significant growth owing to the expansion of various end-use industries such as paints and coatings, pharmaceuticals, personal care, automotive and other industrial applications. De-aromatic solvents find widespread use in coatings, adhesives, sealants, thinners, cleaning agents and many other applications due to their properties such as low odor, high flash point, non-toxicity and low aromatic content.

The global India de-aromatic solvents Market is estimated to be valued at US$ 5243.81 Bn in 2023 and is expected to exhibit a CAGR of 7.7 % over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.


Market key trends:


The expansion of end-use industries is one of the major trends fueling the growth of India de-aromatic solvents market over the forecast period. With growing automotive, construction and coating industries in the country, the demand for de-aromatic solvents is expected to rise substantially. According to Invest India, the construction sector in India is expected to reach $1 trillion by 2030. Moreover, the automotive industry in India has seen significant foreign direct investments of around $27 billion between April 2000 to December 2021. Rising construction and automotive activities will augment the consumption of paints, coatings, adhesives and sealants which in turn will boost the demand for de-aromatic solvents in India.


Segment Analysis


The India de-aromtic solvents market is dominated by the hydrocarbon segment. This segment accounts for over 60% share of the overall market due to extensive usage of hydrocarbon based de-aromatic solvents in various end use industries like paints & coatings, pharmaceuticals, agriculture chemicals etc. The hydrocarbon solvents are preferred due to their chemical properties like low toxicity and excellent solvency.


Key Takeaways


The Global India De-Aromtic Solvents Market Demand  is expected to witness high growth. Regional analysis related content comprises Regional analysis: The western region of India currently dominates the overall de-aromatic solvents market owing to presence of major end use industries in states like Gujarat and Maharashtra. However, northern and southern regions of India are expected to witness fastest growth during the forecast period supported by rising manufacturing activities in these regions.


Key players operating in the India de- Aromatic Solvents market are Novo Nordisk A/S, Eli Lilly and Company, AstraZeneca PLC, Sanofi S.A., Merck & Co., Inc., Boehringer Ingelheim International GmbH, Takeda Pharmaceutical Company Limited, Johnson & Johnson, Bristol-Myers Squibb Company, AbbVie Inc., Pfizer Inc., Mylan N.V., Novartis International AG, Teva Pharmaceutical Industries Ltd., Sun Pharmaceutical Industries Ltd., among others. The key players are focusing on expanding their production facilities as well as their distribution network in developing regions of India to meet the growing demand for de-aromatic solvents.

 

Explore more information on this topic, Please visit-

https://www.marketwebjournal.com/india-de-aromatic-solvents-market-growth-and-trnds-analysis-share-size-demand-forecast/ 

collect
0
avatar
Leena Shedmake
guide
Zupyak is the world’s largest content marketing community, with over 400 000 members and 3 million articles. Explore and get your content discovered.
Read more