The Report “Mineral Oils & Thinners Market: By Applications (paints & coatings, pharmaceutical, adhesives, printing inks, rubber & polymer, agricultural chemicals and others); Types (mineral spirits, varnish makers & paints, paraffinic solvent, solvent 140 and others); and Geography (Asia-Pacific, North America, Europe, Rest of the World (RoW))- Forecasts till 2020”, is estimated to reach $4,583.0 million by 2020, at a CAGR of 1.4% from 2015 to 2020.
Browse through the TOC of the Mineral Oils & Thinners Market for an analysis of industry trends and segments, with the help of various tables and figures.
Early buyers will receive 10% customization on this report
Mineral oils and thinners are used across various industries for one or more applications. It is used as a carrier to dissolve pigments and other ingredients, as well as to enhance certain properties such as the density of solutions. Mineral oils and thinners find their usage in various industries for different applications. They are used as carrier to dissolve pigments and other ingredients and to enhance certain properties such as density of the solutions.
Various factors like high growth in the paints & coatings and pharmaceutical industry, growing penetration in the Asia-Pacific region and mineral spirit being good substitute to the turpentine are the factors driving the growth of the market.
The Mineral oils and thinners market has been segmented based on application, type and geography. The application segment has been further segmented into paints & coatings, pharmaceuticals, adhesives, rubber & polymer, printing inks, agricultural and others.
The major application of Mineral oils and thinners is in paints & coatings industry. It is followed by the pharmaceuticals and adhesives industries. Apart from these, printing inks, rubber & polymers, and agricultural chemicals are some of the application segments that consume Mineral oils and thinners. The paints & coatings segment held the largest share of 48.3% in the global Mineral oils and thinners market in 2014 in terms of volume. This is due to continuously increasing demand for construction chemicals, which has led to increase in the usage of paints & coatings. This, in turn has led to the increased demand for Mineral oils and thinners, globally.
In terms of types, the varnish makers & paints segment accounted for the largest share in the global Mineral oils and thinners market of around 55.0% in 2014 in terms of volume, followed by mineral spirits contributing a share of 17.6% in the same year.
The geography segment has been segmented into Asia-Pacific, North America, Europe, and Rest of the World (RoW). Asia-Pacific dominated the global Mineral oils and thinners market, and contributed a share of around 52.0%, by volume, to the market in 2014. The market in the region is projected to grow at a CAGR 2.3% during the forecast period of 2015 to 2020. High growth in the end user industries, such as pharmaceuticals, paints coatings, and cosmetics is expected to drive the growth of the market in Asia-Pacific.
New product launch and expansions are the key growth strategies adopted by the key players in this market. Manufacturing companies and end-product manufacturers infuse high investments for future advancements and technology modifications to match the ever growing demands coming from various end-user industries.
About MicroMarket Monitor:
MicroMarket Monitor identifies and attends to various unmet needs of different industrial verticals, which include value chain impact analysis. The company publishes about 12000 Market Research Reports on various Micro Markets across the world. The graphical nature and multidimensional analysis of these reports provide advanced Business Intelligence Tools to the clients in that particular target market.
Contact:
Mr. Priyank Tiwari
UNIT no 802, Tower No. 7, SEZ
Magarpatta City, Hadapsar
Pune, Maharashtra 411013, India
Tel: +1-888-502-0539
Email: sales@micromarketmonitor.com
