Market Research Future (MRFR) report on the Global Aliphatic Hydrocarbons Market provides a thorough summary of the market segments, prevailing trends, growth predictions, and challenges of the market from 2017 to 2025 (forecast period) to identify the prevailing market opportunities.
Aliphatic Hydrocarbons are organic compounds comprising hydrogen and carbon bonded by a straight or branched chain. They are either saturated or unsaturated, based on the type of bond present in the compound. Aliphatic Hydrocarbons are either directly used or used to manufacture a range of chemical intermediates that are then used for the production of high-quality products such as paints & coatings, adhesives & sealants, polymer & rubber, surfactants, solvents, dyes, and others.
Some of the Significant Participants Operating in the Global Aliphatic Hydrocarbon Market are SK global chemical Co., Ltd. (South Korea), LyondellBasell Industries Holdings B.V. (Netherlands), Royal Dutch Shell PLC (Netherlands), SABIC (Saudi Arabia), Reliance Industries Limited (India), China Petroleum & Chemical Corporation (China), Exxon Mobil Corporation (US), Mitsubishi Chemical Corporation (Japan), Chevron Phillips Chemical Company (US), Sasol (South Africa), Cepsa (Spain), Total (France), and Westlake Chemical Corporation (US).
Market players operating in the Global Aliphatic Hydrocarbon Market are continually working on strategic growth initiatives such as expansion, mergers and acquisitions, joint ventures, product launches, and distribution agreements to improve their position on the global market at the forefront of increasing product demand. For starters, in June 2019, SABIC and Exxon Mobil Corporation signed a joint venture named “Gulf Coast Growth Ventures” to develop a chemical facility and an ethane steam cracker in Texas, USA. The facility will manufacture products such as construction materials, automotive coolants, and packaging. In addition, two polyethylene units and a monoethylene glycol unit will also be included in the facility. In addition, Chevron Phillips Chemical Company launched a new ethylene steam cracker with a production capacity of 1,5 million mt /year near Baytown, Texas (USA), in March 2018. The output of this unit (ethylene) is estimated to feed Chevron Phillips derivative units, along with two new 500 000 mt/year polyethylene units in Sweeny, Texas (US).
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The rising demand for ethylene and propylene for polyethylene and polypropylene is one of the main drivers for the growth of the global market for Aliphatic Hydrocarbons. The increasing demand for paraffin to produce chlorinated paraffin and linear alkylbenzene (LAB), which, in effect, is used in the manufacture of metalworking fluids, lubricant additives, surfactants, agricultural herbicides, wetting agents, ink solvents and paints is another major contributor to the growth of the market for Aliphatic Hydrocarbons.
Due to the physical properties of Aliphatic Hydrocarbons, such as high boiling point and low density, they are widely used as thinners or diluents in paints and coatings. The rising demand for paints and coatings around the globe due to an increasing number of residential and commercial construction projects due to an increasing population and urbanization is also leading to the growth of the global market for Aliphatic Hydrocarbons. The shale gas boom in the US is encouraging the growth of the product market positively, as the production of these hydrocarbons is now achievable at a very competitive cost compared to the use of naphtha.
Moreover, rapid industrialization in developing economies in Asia Pacific is expected to provide lucrative growth opportunities for players operating in the global market for Aliphatic Hydrocarbon due to their rising economy, easy investment standards, and low production and labor costs.
However, strict environmental regulations in developed countries may hinder the market growth during the forecast period. As a result, demand for bio-based substitutes has increased. Increasing demand for environmentally safe, bio-based solvents may be a significant obstacle to market development. Moreover, fluctuating crude oil prices are expected to limit the global market’s growth for Aliphatic Hydrocarbons.
The Global Market for Aliphatic Hydrocarbon has been segmented based on Type and Application.
Based on Type, the Global Market for Aliphatic Hydrocarbon has been divided into saturated and unsaturated. The saturated segment is further divided into methane, ethane, propane, butane, and others. The unsaturated segment is further divided into ethylene, propylene, butylene, and others.
By Application, the Global Market for Aliphatic Hydrocarbons market has been categorized into paints & coating, polymer & rubber, adhesive & sealant, surfactant, solvent, dyes, and others.
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Regionally, Global Aliphatic Hydrocarbon Market has been segmented into Asia Pacific, North America, Europe, Latin America, and the Middle East & Africa.
The Asia Pacific accounted for the largest market share of the Global Aliphatic Hydrocarbon Market in 2018 and is projected to continue a similar pattern in the forecast period. In 2018, the area had a value-based share of over 42%. Rapid industrialization in the area due to lucrative investment policies, low cost of production, and low labor cost promotes the growth of the market for Aliphatic Hydrocarbons in the region. Growing end-use industries like packaging, automotive & transport, building & construction, electrical & electronics, healthcare, and power are adding to the tremendous demand for Aliphatic Hydrocarbon-based chemical intermediates.
North America was the second-largest market for Aliphatic Hydrocarbons in 2018. The growing number of ethylene manufacturing facilities designed to meet domestic demand and export demand boosts the growth of the product market in the region.
In 2018, Europe followed North America in terms of market size. The developed automotive & transport industry ensures a stable source of revenue for the Aliphatic Hydrocarbon Market in the area. Aliphatic Hydrocarbons are primarily used to manufacture paints & coatings, adhesives & sealants, rubber & polymer, and others. In addition, the large electrical & electronics industry is also supporting the growth of the market in the area.
The slow economic development in Latin America influenced the growth of the demand for Aliphatic Hydrocarbons in 2018. However, growth in the region is expected to increase during the forecast period due to rapid industrialization in countries such as Brazil, Mexico, and Venezuela.
The Middle East & Africa is expected to have a growing demand for Aliphatic Hydrocarbons during the forecast period. Building & construction is likely to provide a steady source of revenue to the demand for Aliphatic Hydrocarbons during the forecast period.
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