Aliphatic Solvent Market Share

APAC Market Forecast

Aliphatic solvents market in Asia Pacific region is projected to hold largest revenue share of about 30% during the forecast period. The majority of the world's demand for aliphatic solvents is currently met by the Asia Pacific region because of the need for paints & coatings in the building & construction, automotive, and other industries. China is the world's largest vehicle producer, and the country's market continues to be the key driver of aliphatic solvents growth. It is anticipated that China's robust chemical manufacturing industry and massive public and private infrastructure development will operate as the primary growth drivers for rising consumption across the country. With yearly chemical exports valued at over USD 72 billion, China is the aliphatic solvents market leader in this sector. In addition, as of 2020, China's domestic chemical consumption was valued at USD 1.77 trillion.

North American Market Statistics

Aliphatic solvents market in North America region is attributed to hold second largest revenue share of about 27% during the forecast period. The market in North America is anticipated to increase as a result of the region's increasing need for ecologically friendly solvents. The region's need for aliphatic solvents is also anticipated to be fueled by the expanding building and infrastructure sectors, as well as the rising demand for premium paints and coatings, printing inks, adhesives, and sealants.