India Dearomatic Solvents Market Is Anticipated to Increase to CAGR of 5.7% in Volume over 2024

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New York, NY — 11/09/2017 — Demand for de-aromatic solvents continues to surge in India. According to a new report published by Persistence Market Research, the de-aromatic solvents market in India is set to ride at a CAGR of 7.1% between 2016 and 2024. Increasing concerns over the hazards caused by the use of conventional solvents and a corresponding increase in demand for effective yet safer and eco-friendly alternatives is expected to fuel the demand for de-aromatic solvents in India during the assessment period.

The de-aromatic market in the western part of the country is expected to witness the highest growth, while the Northern and the Southern parts will also continue to account for respectable market shares. On the other hand, growth of the market will be sluggish in the eastern part of India over 2024.

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The report titled “De-aromatic Solvents Market: India Industry Analysis and Forecast, 2016-2024” reveals that in 2016, INR 2,925.9 Mn were garnered from the sales of de-aromatic solvents in India, which is projected to reach INR 5,073.4 Mn by 2024-end, reflecting a CAGR of 7.1%.

Persistence Market Research's study on the India de-aromatic solvents market identified that the medium flash point de-aromatic solvent accounted for more than 76% value share of the market in 2016. However, the market share of medium flash point de-aromatic solvent is likely to decline slightly during the assessment period.

Based on boiling point, type 2 (185–240°C) de-aromatic solvents are expected to remain highly lucrative for manufacturers in India. In 2016, type 2 de-aromatic solvent accounted for around 76.3% share in terms of value and expected to remain dominant throughout the forecast period.

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Use of de-aromatic solvents in paints, coatings and inks manufacturing is projected to remain significantly high over the next couple of years. Meanwhile, their use in metal working is expected to grow rapidly due to increasing adoption of less toxic and non-corrosive high flash point de-aromatized solvents in metal working applications. By 2024-end, around INR 1,112.4 Mn worth de-aromatic solvent will be used for metal working.

Exxon Mobil Corporation, Royal Dutch Shell plc., Mehta Petro Refineries Ltd, Raj Petro Specialities Pvt Ltd, Eastern Petroleum Pvt. Ltd., Total S.A., and Avani Petrochem Private Ltd are amongst some of the prominent companies that operating in the India de-aromatic solvents market.

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About Persistence Market Research
Persistence Market Research (PMR) is a U.S.-based full-service market intelligence firm specializing in syndicated research, custom research, and consulting services. PMR boasts market research expertise across the Healthcare, Chemicals and Materials, Technology and Media, Energy and Mining, Food and Beverages, Semiconductor and Electronics, Consumer Goods, and Shipping and Transportation industries. The company draws from its multi-disciplinary capabilities and high-pedigree team of analysts to share data that precisely corresponds to clients' business needs.

PMR stands committed to bringing more accuracy and speed to clients' business decisions. From ready-to-purchase market research reports to customized research solutions, PMR's engagement models are highly flexible without compromising on its deep-seated research values.

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Maria Burns

Maria Burns

Maria is a Viral News Editor who graduated from the University Of California. She likes social media trends, being semi-healthy, Buffalo Wild Wings and vodka with lime. When she isn’t writing, Maria loves to travel. She last went to Thailand to play with elephants and is planning a trip to Bali.
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