The special boiling points solvents market was valued at US$ 1,209.57 million in 2019 and is projected to reach US$ 1,537.68 million by 2027; it is expected to grow at a CAGR of 3.2% from 2020 to 2027.

Special boiling point solvents, are mixtures of group of fast to medium evaporating aliphatic hydrocarbon fluids, consisting of paraffins and cycloparaffins in the C6-C10 range with a boiling-range of 30-160?C. These products group are derived from naphtha feed-stocks. The products are widely used in adhesives, rubber, cleaning purposed, pharmaceuticals and surface coating industries, also for edible oil extraction.

Based on application, the special boiling points solvents market is segmented into paints and coatings, rubber and tires, inks, adhesives, resins, cleaning agents and others. The paints and coatings segment led the market with the largest share in 2019. Special boiling point solvents are used in paint and coating formulations to dissolve other compounds, such as pigments, binders, additives, etc. These solvents evaporate when the paint is applied to the surface, allowing the resin and pigment to form a film of paint on the surface and dry quickly. These solvents are essential for coating formulations since they control the viscosity of the paints and have a substantial effect on the film quality, which is mainly dependent on the evaporation rate of the solvents during the drying period. Solvent-borne paints, also known as oil-based paints, may contain a variety of solvent combinations, including aliphatic, aromatic, alcohol, ketone, and white spirit. These include organic solvents, such as petroleum distillates, esters, and glycol ethers.

The global special boiling point solvents market is segmented into five main regions-North America, Europe, Asia Pacific (APAC), Middle East &Africa (MEA), and South America. In 2019, Asia Pacific contributed to the largest share in the global special boiling point solvents market. The Asia Pacific region comprises several developed and developing economies, including Australia, India, China, Japan, and South Korea. Further, these emerging countries are witnessing an increase in urbanization and rapid expansion of various industries, which further offers ample opportunities for key market players in special boiling point solvents. Special boiling point solvents are mainly used to provide long-lasting protection and excellent performance in extreme weather conditions for paints and coatings. Asia Pacific is one of the fastest-growing markets for paints and coatings due to the rapid growth of decorative and industrial coatings. Further, the booming construction and automotive industries are likely to boost the market for paints and coatings, which, in turn, are expected to drive special boiling point solvents during the anticipated period.

The COVID-19 outbreak was first reported in Wuhan (China) during December 2019. As of January 2021, the US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are among the worst affected countries in terms confirmed cases and reported deaths. The outbreak is adversely affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The global chemicals & materials industry is one of the major industries suffering serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns. For instance, China is the global manufacturing hub and largest raw material supplier for various industries and it is also one of the worst affected countries. The lockdown of various plants and factories in China is restricting the global supply chains and disrupting the manufacturing activities, delivery schedules, and various chemicals & materials sales. Various companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition, the global travel bans imposed by countries in Europe, Asia, and North America are hindering the business collaborations and partnerships opportunities. All these factors are hampering the chemicals & materials industry, and thus act as restraining factors for the growth of various markets related to this industry.

Royal Dutch Shell Plc, Exxon Mobil Corporation, Total SA, Bharat Petroleum Corporation Limited, Brenntag Holding GMBH, Calumet Specialty Products Partners, L.P., Gulf Chemicals and Industrial Oils Co., HCS Group GMBH, KH Chemicals, and The MGT PetrOil group are among the major players operating in the global special boiling points solvents market.

The overall global special boiling points solvents market size has been derived in accordance with to both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data, as well as to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, along with external consultants such as valuation experts, research analysts, and key opinion leaders, specializing in the global special boiling points solvents market.