De aromatics are organic liquids refined from petroleum to remove aromatic compounds which are reactive and toxic in nature. De aromatic solvents have low odor, color and are less volatile in nature. They are mainly used as cleaning agents for metal parts in industries like paints & coatings, pharma, automotive and electronics as they safely dissolve oils and greases without harming plastics or metal surfaces.

India de aromatic solvents market is estimated to be valued at US$ 6040.87 Bn in 2024 and is expected to exhibit a CAGR of 11% over the forecast period 2024 to 2030.

 

De aromatic solvents find wide applications as solvents in end-use industries like paints & coatings, pharmaceutical, automotive and electronics. The growth of these industries is driving the demand for de-aromatic solvents in India. For instance, paints & coatings industry is witnessing significant growth due to increasing construction activities as well as rapid urbanization and industrialization in the country. Similarly, rise in disposable incomes and growing health awareness has triggered the growth of pharmaceutical industry in India. Growth in automotive industry is also propelling the demand for de-aromatic solvents which are used for cleaning and degreasing auto components.

 

Key Takeaways

 

Key players operating in the India de aromatic solvents market are Diabetomics, Inc., Thermo Fisher Scientific Inc., F. Hoffmann-La Roche Ltd, PerkinElmer Inc., Siemens Healthineers AG, DRG INSTRUMENTS GMBH, Metabolomic Diagnostics Ltd., Sera Prognostics, MOMM Diagnostics, Miraculins Inc. These major players are focusing on capacity expansion and new product launches to strengthen their market position and cater to the growing demand for de-aromatic solvents in the country.

 

Growing applications in end-use industries like paints & coatings, automotive and pharmaceutical due to their properties like low toxicity and odor is a major factor driving the demand for de-aromatic solvents in India. Rapid industrialization and infrastructural growth has significantly contributed to the growth of these end-use industries.

 

Technological advancements in de-aromatic solvent production processes have enhanced product quality with reduced environmental impact. Development of bio-based and plant-derived de-aromatic solvents is opening new growth avenues for sustainable production of these solvents.

 

Market Trends

 

Growing preference for bio-based and plant-derived de-aromatic solvents: With rising environmental awareness, there is an increasing demand for green and sustainable products. This has prompted companies to develop bio-based and plant-derived de-aromatic solvents with reduced carbon footprint.

 

Innovation in production technologies: Companies are investing heavily in R&D to develop newer technologies for production of high-purity de-aromatic solvents with improved performance characteristics. Advancements like aryl de-alkylation, hydrogenation etc. are helping optimize production processes.

 

Market Opportunities

Rising per capita income: India is witnessing rapid economic growth along with increasing disposable income of middle-class population. This is expected to boost the sales of automobiles and consumer goods which will further drive the need for de-aromatic solvents in cleaning applications.

 

Growth of specialty chemical industry: Specialty chemicals industry in India is growing at a strong pace. Increasing demand from various sub-segments like agrochemicals, water treatment chemicals etc. presents significant opportunities for de-aromatic solvent providers.

 

Impact of COVID-19 on India De Aromatic Solvents Market

 

The COVID-19 pandemic has significantly impacted the growth of the India De Aromatic Solvents Market Size . During the initial lockdown periods in 2020-21, the demand from key end-use industries such as paints & coatings, pharmaceuticals, and personal care products witnessed a decline owing to halted operations. This adversely affected the consumption of de aromatic solvents in the country. However, as economic activities resumed post lockdowns, the market started recovering steadily from 2021. The pent-up demand from different sectors coupled with the resumption of projects aided the market revival. Though challenges pertaining to raw material supply chains and logistic issues persisted during the early recovery phase.

 

Going forward, the market is expected to experience steady growth on account of expanding end-use industries in India along with rising infrastructure spending. Manufacturers are focusing on developing bio-based and eco-friendly solvent products to cater to the growing sustainability demand. The rising emphasis on infrastructure upgrading, construction of green buildings, and increasing disposable incomes are likely to drive new construction activities in the country. This will positively impact the adoption of paints & coatings utilizing de aromatic solvents. However, fluctuations in crude oil prices remain a key concern for maintaining stable feedstock prices.

 

Geographical Concentration in India

 

In terms of value, West India holds the major share of over 30% in the India de aromatic solvents market attributable to well-established end-use industries in states like Maharashtra and Gujarat. The availability of ports and key manufacturing clusters aid significant solvent consumption for paints & coatings production and other chemical applications. Southern India is another prominent geographic region accounting for around 25% market share led by states like Tamil Nadu, Karnataka, and Andhra Pradesh. The growing automotive and construction industries have augmented the demand dynamics.

 

Fastest Growing Region - East India

 

East India has emerged as the fastest growing region for the India de aromatic solvents market poised to witness a CAGR of over 13% during the forecast period. This can be accredited to expanding infrastructure projects, rising spending capabilities, and developing industrial infrastructure in states like West Bengal, Jharkhand, and Odisha. The construction of new plants by leading domestic and international companies is augmenting the solvents demand from various end-use bases. Furthermore, supportive government policies and initiatives for industrialization will continue to drive the east India de aromatic solvents consumption going ahead.

 

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