Global Solvent Naphtha Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Solvent Naphtha Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Solvent naphtha, which are composed of a mixture of hydrocarbons, are used in a variety of application areas and are incorporated in great number of formulated chemical products, including: architectural paints and protective coatings; printing inks and printing press cleaners; other cleaning compounds; pesticides; degreasing formulations; and household products.

Market Overview:

The latest research study on the global Solvent Naphtha market finds that the global Solvent Naphtha market reached a value of USD 7661.24 million in 2022. It’s expected that the market will achieve USD 9500.01 million by 2028, exhibiting a CAGR of 3.65% during the forecast period.

Increasing demand in global market

With the large downstream fields and increasing demand of downstream products, the global solvent naphtha market will keep a steady growth in next years.

Innovation of manufacturing process

With the more and more strict government regulation, the innovation of solvent naphtha’s manufacturing process is a major trend and opportunity in the future. And the manufacturing process should develop to eco-friendly and saving cost.

Environment Pollution

The production of solvent naphtha will pollute the environment of local area. The manufacturing process of Solvent Naphtha releases a number of different chemicals into the atmosphere and a notable odor normally accompanies the presence of a refinery. Aside from air pollution impacts there are also wastewater concerns, risks of industrial accidents such as fire and explosion, and noise Health effects due to industrial noise.

More strict government regulation

The government has released more and more strict regulations for these manufacturing companies and refineries. It requires more eco-friendly manufacturing process with better equipment and higher cost.

Region Overview:

In global comparison, a significant portion of the revenue was generated in United States (27.02% in 2022).

Company Overview:

Shell is one of the major players operating in the Solvent Naphtha market, holding a share of 8.79% in 2023.

Shell

Royal Dutch Shell plc explores for crude oil and natural gas worldwide. It explores for and extracts crude oil, natural gas, and natural gas liquids. The company also liquefies gas; converts natural gas to liquids to provide fuels and other products; markets and transports oil and gas; and extracts bitumen from mined oil sands and converts it to synthetic crude oil.

Exxon Mobil Corporation

The company manufactures petroleum products. Manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, and polypropylene plastics, as well as various specialty products; produces transportation fuels, such as marine gasoil and diesel; and transports and sells crude oil, natural gas, and petroleum products. Exxon Mobil Corporation was founded in 1870 and is headquartered in Irving, Texas.

Segmentation Overview:

By type, Paraffin Solvent segment accounted for the largest share of market in 2022.

Application Overview:

By application, the Paints & Coatings segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Solvent Naphtha market covered in Chapter 3:

CNPC
ExxonMobil
Gulf Chemicals and Industrial Oils
CPC Corporation
Jiangsu Hualun
Idemitsu
BP
Suzhou Jiutai Group
SK
Neste
Citgo
JX Nippon Oil & Energy
Reliance
Total
Sinopec
Calumet
CEPSA
Chevron Phillips
Ganga Rasayanie
Shell

In Chapter 4 and Chapter 14.2, on the basis of types, the Solvent Naphtha market from 2018 to 2029 is primarily split into:

Paraffin Solvent
CycloParaffin Solvent
C9 Solvent
C10 Solvent
Other

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Solvent Naphtha market from 2018 to 2029 covers:

Paints & Coatings
Agro Chemicals
Rubber & Resin
Printing Inks
Industrial Cleaning
Other

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)