Asia Pacific Special Boiling Point Solvents Market Forecast to 2027 - COVID-19 Impact and Regional Analysis By Solvent Base (Petroleum Ether, Rubber Solvent, and Others), Application (Paints and Coatings, Rubbers and Tires, Inks, Adhesives, Resins, Cleaning Agents, and Others)

Paints and Coatings Segment to Dominate Asia Pacific Special Boiling Point Solvents Market during 2020-2027

According to this research study titled “Asia Pacific Special Boiling Point Solvents Market to 2027 - COVID-19 Impact and Regional Analysis and Forecast - by Solvent Base, Application, and Country,” the market is expected to reach US$ 510.77 million by 2027 from US$ 663.51 million in 2019. The market is estimated to grow at a CAGR of 3.5% from 2020 to 2027. The report provides trends prevailing in the Asia Pacific special boiling point solvents market along with the drivers and restraints pertaining to the market growth. Steady demand from paints & coatings industry and escalating demand from rubber processing industry are the major factors driving the growth of the Asia Pacific special boiling point solvents market. However, the Stringent regulations regarding the production and use of SBP solvents may hinder the growth of Asia Pacific special boiling point solvents market.

In case of COVID-19, in Asia Pacific, especially India, witnessed an unprecedented rise in number of coronavirus cases, which led to the discontinuation of solvents manufacturing activities. Other chemical and materials manufacturing sector has subsequently impacted the demand for special boiling point solvents during the early months of 2020. Moreover, decline in the overall manufacturing activities has led to discontinuation of solvents manufacturing projects, thereby reducing the demand for special boiling point solvents. Similar trend was witnessed in other Asia Pacific countries, i.e., Japan, China and Australia. However, the countries are likely to overcome thus drop in demand with the economic activities regaining their pace, especially in the beginning of the 2021.

The market for Asia Pacific special boiling point solvents is segmented into solvent base, application, and country. Based on solvent base, the market is segmented into petroleum ether, rubber solvent, and others. In 2019, the others segment is expected to be the fastest growing segment over the forecast period. Based on application, the Asia Pacific special boiling point solvents is bifurcated into paints and coatings, rubbers and tires, inks, adhesives, resins, cleaning agents, and others. The paints & coatings segment held the largest share in Asia Pacific special boiling point solvents market. Furthermore, in this present scenario of COVID-19 pandemic, the Asia Pacific special boiling point solvents market has been facing difficulties and several countries have suffered heavily. The manufacturing sectors in the Asia Pacific countries have been experiencing low production and a weak supply chain. Thereby, impacting the market for special boiling point solvents.

Royal Dutch Shell Plc, Exxon Mobil Corporation, Total SA, Bharat Petroleum Corporation Limited, Brenntag Holding GmbH, HCS Group GmbH, and KH Chemicals are some of the leading companies in the Asia Pacific special boiling point solvents market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market.

The report segments the Asia Pacific Special Boiling Point Solvents market as follows:

Asia Pacific Special Boiling Point Solvents Market - By Solvent Base - Petroleum Ether

• Rubber Solvent
• Others

Asia Pacific Special Boiling Point Solvents Market - By Application - Paints and Coatings

• Rubbers and Tires
• Inks, Adhesives
• Resins
• Cleaning Agents
• Others

Asia Pacific Special Boiling Point Solvents Market - By Country - Australia

• China
• India
• Japan
• South Korea
• Rest of Asia Pacific