Aliphatic Solvent Market Size

Aliphatic Solvents Market size is expected to reach USD 10 Billion by the end of 2036, growing at a CAGR of 8% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of aliphatic solvents was over USD 4 Billion. Over the course of the forecast period, the worldwide market is anticipated to rise at a rapid pace due to the growing need for paints and coatings for the expanding number of commercial and residential structures brought on by increasing urbanization and population. Approximately 52% of the coatings manufactured globally are used for both the upkeep and decoration of newly constructed and pre-existing structures, such as public buildings, factories & residences, and public buildings. Moreover, approximately 35% of the coatings are applied to industrial objects for protection or decoration.

Furthermore, the increasing focus on sustainability and the growing demand for environmentally friendly solvents would drive the development of new and creative aliphatic solvents in the next years. The aliphatic solvents market is anticipated to see further growth prospects as bio-based aliphatic solvents are developed.