Product Code: ETC4570885 | Publication Date: Jul 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 85 | No. of Figures: 45 | No. of Tables: 25 |
The India aromatic solvents market import shipment demonstrated robust growth with a CAGR of 19.7% from 2020 to 2024. The growth momentum continued in the most recent period with a growth rate of 15.9% between 2023 and 2024, indicating a strong expansion trend in the market.
The India aromatic solvents market serves various industries, including automotive, paints and coatings, and chemicals. Aromatic solvents find extensive use as diluents, solubilizers, and cleaning agents. As these sectors continue to grow, the demand for aromatic solvents is expected to rise. However, environmental regulations and the shift toward eco-friendly alternatives might shape the market`s dynamics in the coming years.
The aromatic solvents market in India is driven by the chemical and manufacturing industries. Aromatic solvents find use in various industrial processes, including coatings, paints, and adhesives. The growth in these industries contributes to the demand for aromatic solvents.
The aromatic solvents market in India faces challenges related to environmental concerns and regulatory compliance. Aromatic solvents are used in various industrial applications, but their environmental impact and potential health risks need to be addressed. Ensuring compliance with environmental regulations and the development of more sustainable alternatives pose challenges for this market.
The India aromatic solvents market, like many other industries, was not immune to the impact of the COVID-19 pandemic. As the country imposed lockdowns and restrictions to curb the spread of the virus, the demand for aromatic solvents, which are commonly used in various applications including paints, coatings, and pharmaceuticals, experienced disruptions. Manufacturing and construction activities were temporarily halted or slowed down, affecting the overall consumption of these solvents. However, the market showed resilience as it adapted to the new normal by implementing safety measures and adopting digital solutions. The recovery of this market largely depended on the pace of economic revival and the reopening of industries.
Major participants in the aromatic solvents market in India are ExxonMobil Corporation, Shell Chemicals, LyondellBasell Industries, BASF SE, and Eastman Chemical Company.
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Aromatic Solvents Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Aromatic Solvents Market Revenues & Volume, 2021 & 2031F |
3.3 India Aromatic Solvents Market - Industry Life Cycle |
3.4 India Aromatic Solvents Market - Porter's Five Forces |
3.5 India Aromatic Solvents Market Revenues & Volume Share, By Type, 2021 & 2031F |
3.6 India Aromatic Solvents Market Revenues & Volume Share, By Application, 2021 & 2031F |
4 India Aromatic Solvents Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.2.1 Increasing demand from end-use industries such as paints and coatings, adhesives, and pharmaceuticals. |
4.2.2 Growing urbanization and industrialization in India leading to higher consumption of aromatic solvents. |
4.2.3 Favorable government regulations promoting the use of aromatic solvents in various applications. |
4.3 Market Restraints |
4.3.1 Volatility in raw material prices impacting the production costs of aromatic solvents. |
4.3.2 Environmental concerns and regulations regarding the use and disposal of aromatic solvents. |
4.3.3 Competition from substitutes like bio-based solvents affecting market growth. |
5 India Aromatic Solvents Market Trends |
6 India Aromatic Solvents Market, By Types |
6.1 India Aromatic Solvents Market, By Type |
6.1.1 Overview and Analysis |
6.1.2 India Aromatic Solvents Market Revenues & Volume, By Type, 2021-2031F |
6.1.3 India Aromatic Solvents Market Revenues & Volume, By Toluene Solvents, 2021-2031F |
6.1.4 India Aromatic Solvents Market Revenues & Volume, By Xylene Solvents , 2021-2031F |
6.1.5 India Aromatic Solvents Market Revenues & Volume, By Ethylbenzene Solvents, 2021-2031F |
6.2 India Aromatic Solvents Market, By Application |
6.2.1 Overview and Analysis |
6.2.2 India Aromatic Solvents Market Revenues & Volume, By Paints & Coatings, 2021-2031F |
6.2.3 India Aromatic Solvents Market Revenues & Volume, By Printing Inks, 2021-2031F |
6.2.4 India Aromatic Solvents Market Revenues & Volume, By Adhesives, 2021-2031F |
6.2.5 India Aromatic Solvents Market Revenues & Volume, By Cleaning & Degreasing, 2021-2031F |
7 India Aromatic Solvents Market Import-Export Trade Statistics |
7.1 India Aromatic Solvents Market Export to Major Countries |
7.2 India Aromatic Solvents Market Imports from Major Countries |
8 India Aromatic Solvents Market Key Performance Indicators |
8.1 Average selling price of aromatic solvents in the Indian market. |
8.2 Consumption patterns of key end-use industries for aromatic solvents. |
8.3 Innovation and adoption rate of green technologies in aromatic solvent production. |
9 India Aromatic Solvents Market - Opportunity Assessment |
9.1 India Aromatic Solvents Market Opportunity Assessment, By Type, 2021 & 2031F |
9.2 India Aromatic Solvents Market Opportunity Assessment, By Application, 2021 & 2031F |
10 India Aromatic Solvents Market - Competitive Landscape |
10.1 India Aromatic Solvents Market Revenue Share, By Companies, 2024 |
10.2 India Aromatic Solvents Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |