C10 Solvent Market Size, Share to Grow at a CAGR of 3.61% by 2032 | ChemAnalyst
The C10 Solvent market is expected to grow significantly, reaching approximately 4000 thousand tonnes in 2032 at an excellent CAGR of 3.61%.
According to ChemAnalyst report, “Global C10 Solvent Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032”, The C10 Solvent market is expected to grow significantly, reaching approximately 4000 thousand tonnes in 2032 at an excellent CAGR of 3.61%.
Aromatic 150, or Type II Heavy Aromatic Solvent or Solvent Naphtha or C10 aromatic solvent, is a transparent liquid with a mild door. The group of petroleum hydrocarbons' C9–C11 aromatic hydrocarbons makes up the majority of the C10 aromatic solvent. The growing demand of C10 solvent by the Paints and coatings industry, Agrochemical sector, Printing inks, Oilfield Chemicals, and Other end-use industries is anticipated to swell up the demand of this solvent in the forecast period.
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The major driver of global C10 Solvent is its usage as a solvent in numerous industries such as paints, inks, pigments, and adhesives. C10 imparts good flow to paints and allows better film formation. It displays higher flash point and evaporation rate than typical Xylene, which makes C10 solvent a better ingredient in paints and coatings. The dyes and pigments, and the paints and coatings industry all use C10 aromatic solvent extensively based on this reason. Furthermore, C10 finds applications in synthetic resins and oil-modified alkyds where it functions as an additive. Additionally, it is valuable in oil fields and manufacturing facilities. C10 solvent is also employed in the chloro-rubber formulations. Since C10 solvent is free of ethyl-benzene content, it is widely used as in pesticide in the agriculture sector.
Region wise, Asia Pacific has emerged to be the largest consumer of C10 Solvent followed by North America. North America is the largest producer of this solvent due to presence of plants located in USA. Exxon Mobil Corporation is the leading producer of C10 solvent and approximately 10% of the global C10 solvent market.
Based on end-uses, the C10 Solvent market is segregated into Paints and coatings industry, Agrochemical sector, Printing inks, Oilfield Chemicals, and Others. Among these, the Paints and coatings industry is leading the market followed by the Printing inks industry.
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“Global C10 Solvent Market Analysis: Plant Capacity, Production, Operating Efficiency, Demand & Supply, End-User Industries, Sales Channel, Regional Demand, Company Share, 2015-2032”, the significant players functional in the Global C10 Solvent are Exxon Mobil Corporation, Nippon Oil Corporation, Phillips 66 Company, Marathon Petroleum Corporation, Flint Hills Resources, Idemitsu Kosan Co., Ltd, Chevron Corporation, GS Caltex Corporation, BP p.l.c., Monroe Energy LLC, VPR Energy, Persian Gulf star Condensate Refining company, Isfahan Oil Refining Company, and Saudi Arabian Oil Co.
“Being linked to the downstream application such as paints, coatings, printing inks, and oilfield chemicals, the global C10 Solvent Industry has shown a robust growth alongside growing industrial activities. Due to low Naphthalene content coupled with high solvency, C10 makes to the list of preferred solvents in the paints and coatings sector, that majorly contributes to the growing demand of C10 Solvent. Asia Pacific is the leading consumer of this solvent and owing to the rising demand for paints, coatings, and ink for usage in construction sector in the forecasted period, it is expected that there will be an increase in the demand of C10 Solvent over the coming years” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm promoting ChemAnalyst worldwide.
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