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The aliphatic hydrocarbon market is a very dynamic industry, influenced by various market forces that determine its behavior and growth trajectory. One of the major things to note here is escalating demand for petrochemicals and specialty chemicals in different sectors. Plastics, solvents and lubricants are some examples of products made from aliphatic hydrocarbons such as alkanes and alkenes which act as crucial raw materials. This will only rise with the need to cover more areas around the globe when it comes to industrialization.
For instance, the Aliphatic Hydrocarbon Market is projected at USD 4.85 Billion by 2028, growing at CAGR of 4.42% during this period (2021 - 2028).
Another thing worth stating would be oil markets’ price volatility that affects crude oil prices directly since petroleum sources them through refining processes that can be expensive at times due to unsteady conditions in this sector resulting into fluctuating costs. Therefore, players in this industry are so concerned about these trends given their past experiences where changes in oil price impacted on their income statements among other financial results. These may encompass issues surrounding geopolitical situations or global events affecting international relations on supply chains including production systems pertaining to certain oils hence indirectly modifying how they are valued together with any available inventories within commerce.
Market dynamics are shaped by automotive industry as well because it is one of the largest consumers particularly lightweight types used in car making; hence there is high demand for such chemicals from polymer composites and coatings producers. Therefore, adoption of these compounds may increase when automakers turn towards cars that are less harmful to environment with low energy consumption rates thus manufacturers have started searching for other materials capable of producing new items.
In addition, technological advancements in manufacturing processes greatly affect Aliphatic Hydrocarbon Market today. The ongoing research seeks efficient methods of production which shall reduce operating costs while increasing quality levels for aliphatic hydrocarbon products. This is what enhances competition and guarantees sustainability through catalytic procedures, extraction techniques or purification methodologies developments.
Furthermore, market competition plays a critical role in shaping this industry. Several large players who have been in existence for many years dominate the sector by virtue of their extensive distribution networks coupled with global presence. On the other hand, emerging businesses with newer technologies as well as environmental concerns are proving challenging opponents. Subsequently, M&A activities such as strategic alliances may be witnessed and then followed by research investments aimed at expanding their competitive edge to stay relevant against these rivals.
Broadly speaking, it is possible to see that there is a complex interconnection of factors ranging from industrial requirements to ecological aspects pertaining to production operations and overall health of oil markets that dictate Aliphatic Hydrocarbon Market’s growth patterns today. Consequently, adaptation to such dynamics among other global shifts will define whether or not this arm needs further expansion so that it can have a sustainable future ultimately leading into its survival on this changing worldwide landscape.
Aliphatic Hydrocarbon Market Highlights:
Aliphatic Hydrocarbon Market Overview
Aliphatic Hydrocarbon Market is projected to be worth USD 4.85 Billion by 2032, registering a CAGR of 4.42% during the forecast period (2024 - 2032). Aliphatic hydrocarbon solvents are organic compounds whose carbon atoms are linked in open chains, either straight or branched, rather than containing a benzene ring. Aliphatic hydrocarbons do not have a benzene ring, but they are mixtures of saturated, long straight chain that is normal-paraffin, branched-chain that is Iso-paraffin, or cyclic paraffin. The distillation of crude oil produces them with an appropriate boiling point range fraction, and then they are treated to improve their color and odor. Aliphatic hydrocarbon solvents are aliphatic compounds; they contain carbon and hydrogen, joined together in straight chains, branched trains, or non-aromatic rings.
The alkane type, alkene, and alkyne series hydrocarbons are aliphatic compounds, similar to fatty acids and many other compounds; therefore, aliphatic compounds are the opposite of aromatic compounds. Hydrocarbons are used as solvents or diluents in paints and thinners, they are widely used in oil extraction, degreasing, rubber manufacturing, and as carriers for aerosols and disinfectants. Gasoline and kerosene are reliable examples of aliphatic hydrocarbon solvents. Common aliphatic hydrocarbon solvents are used in paints and coatings like mineral spirits, hexanes, and heptanes. These compounds are used as corrosion inhibitors. Some of the common examples related to aliphatic hydrocarbon solvents are mineral spirits, petroleum naphtha, petroleum distillate, cyclohexane, octane, pentane, or isopentane nonane. Most of the hydrocarbon can contain a blend or mixture of different aliphatic types or aliphatic or aromatic hydrocarbons, which depend on their end-use industrial applications.
Restraint
Top Brands Switching to Green Solvents
People that work in aliphatic hydrocarbons manufacturing spaces are constantly touching solvents, which can damage their reproductive, respiratory and nervous systems. Regulations banning the use of solvents make organic solvents the perfect solution for manufacturers of aliphatic hydrocarbons.
Opportunity
Emerging countries in the Middle East to Offer Lucrative Opportunities
The incredible growth of the real estate sector coupled with the rapid industrialization rate in several countries in the Middle East provide significant opportunities to global companies. Countries like the UAE and Saudi Arabia are working on reducing their dependency on the oil sector for economic surge and are, therefore, focusing on other industries.
As a result, the construction sector is witnessing strong growth in the region, which elevates the demand for cleaning & degreasing agents, adhesives, and paints & coatings.
Global Aliphatic Hydrocarbon Market, by Application, 2018 
Source: MRFR Analysis
Market Segmentation
The global aliphatic hydrocarbon market has been segmented based on type, application, and region.
Based on type, the global aliphatic hydrocarbon market has been divided into saturated and unsaturated. The saturated segment is further segmented into methane, ethane, propane, butane, and others. The unsaturated segment is further segmented into ethylene, propylene, butylene, and others.
By application, the global aliphatic hydrocarbons market has been categorized into paints & coating, adhesive & sealant, polymer & rubber, surfactant, solvent, dyes, and others.
Regional Analysis
The global aliphatic hydrocarbon market has been cataloged across five different geographies, namely, Asia-Pacific, North America, Europe, Latin America, and the Middle East & Africa.
Asia-Pacific accounted for the major market share of the global aliphatic hydrocarbon market in 2018 and is expected to follow a similar trend during the forecast period. In 2018, the region accounted for a share of over 42% based on value. Rapid industrialization in the region due to lucrative investment policies, low production cost, and inexpensive labor costs are supporting the growth of the aliphatic hydrocarbons market in the region. Growing end-use industries such as packaging, automotive & transportation, building & construction, electricals & electronics, healthcare, and power are contributing to the high demand for aliphatic hydrocarbon-based chemical intermediates.
North America was the second-largest market for aliphatic hydrocarbons in 2018. The increasing number of ethylene manufacturing facilities to meet the domestic demand and for export is driving the product market growth in the region.
Europe followed North America in terms of the market size in 2018. The developed automotive & transportation industry is ensuring a stable revenue source for the aliphatic hydrocarbon market in the region. Aliphatic hydrocarbons are mostly utilized for manufacturing paints & coatings, adhesives & sealants, rubber & polymer, and others. Furthermore, the strong electricals & electronics industry is also supporting the market growth in the region.
Slow economic development in Latin America affected the growth of the aliphatic hydrocarbon market in 2018. Moreover, the region is expected to show increasing growth during the forecast period due to the rapid industrialization in countries such as Brazil, Mexico, and Venezuela.
The Middle East & Africa is expected to exhibit a rising demand for aliphatic hydrocarbons during the forecast period. The building & construction are likely to provide stable revenue source to the aliphatic hydrocarbons market during the forecast period.
Key Players:
Some of the key players operating in the global aliphatic hydrocarbon market are Exxon Mobil Corporation (US), SK global chemical Co., Ltd. (South Korea), Royal Dutch Shell PLC (Netherlands), SABIC (Saudi Arabia), LyondellBasell Industries Holdings B.V. (Netherlands), Reliance Industries Limited (India), China Petroleum & Chemical Corporation (China), Chevron Phillips Chemical Company (US), Total (France), Mitsubishi Chemical Corporation (Japan), Sasol (South Africa), Cepsa (Spain), and Westlake Chemical Corporation (US).
Recent Development
Calumet Specialty Product Partners, L.P, has acquired Biosynthetic Technologies, LLC. The acquisition of Biosynthetic Technologies, LLC, and its technological capabilities align with Calumet’s Specialty Products’ focused growth strategy. Furthermore, the company also announced the opening of a new R&D facility in Indianapolis. This development is expected to create synergy and offer a competitive edge in the North American region's aliphatic hydrocarbon solvents market.
Intended Audience
- Aliphatic hydrocarbon market manufacturers
- Traders and distributors of aliphatic hydrocarbon
- Production process industries
- Potential investors
- Raw material suppliers
- Nationalized laboratory
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